Article 21.4 of the Workers’ Statute defines a permanence agreement as follows: when the worker has received professional specialization under the employer to implement certain projects or to perform a specific job, the parties may agree on the continuation of the worker in the company for a specified time. The agreement shall not exceed two years and must be stated in writing. If the employee leaves the job before the deadline, the employer is entitled to compensation for damages.
The price of housing in Spain has fallen 31,3% since the beginning of the crisis and, although the current Spanish economy begins to grow, housing prices continue to decline. This encourages investment in the country and an increasing number of foreign citizens opting to acquire property in Spain. The acquisition of property in Spain by a non-resident foreigner is a simple procedure that can be summarized in seven easy steps. In any case, it is advisable that a foreign investor have access to a lawyer specializing in this matter.
A branch is legally defined as a secondary establishment that has been granted certain management autonomy and permanent representation, which entirely or partially develops its parent Company’s activities. Royal Decree 1784/1996 of 19 July 1996, which approves the Regulation of the Commercial Register, namely in articles 295 and the following regulates branches in Spain.
In the fall of 2013, Spain passed the Law in Support of Foreign-National Entrepreneurs (“Law”)[1] to entice foreign nationals to invest in Spain in exchange for residency permission. According to the latest information from the Spanish Ministry of Economy (“Ministry”),[2] the granting of visas associated with this Law’s provisions recently increased in 2014. From September 2013 to September 2014, the Ministry granted 3,266 visas, whereas in the month of March 2014, only 818 visas had been granted.
The internationalisation of a company increases its competitiveness as well as its sales and investments in international markets. A few Spanish companies have tried to gain returns in foreign markets: Mercadona, Inditex, El Corte Inglés, Ferrovial, FCC, Acciona, Gestamp, OHL, Prisa and Grupo Antolin-Irausa. All are perfect examples of the success of investing outside the country.
The taking of someone else’s identity on the Internet, and using the data collected for malicious purposes, is often called spoofing. Data includes a user’s name, surname, pseudonym and password used on the Internet, but this is not limited to personal data. As follows, data also includes emails, IP addresses, URL, websites, messages published online, social network profiles, logos, pictures and all the other numerical elements that may characterize a natural person. Consequently, both the common characteristics of the identity, plus those specific to the Internet are concerned.
As a reminder, due diligence, normally used in the scope of business acquisitions, refers to the information search process led by the potential buyer on the business which he plans to acquire. Such investigation focuses on several aspects of the business such as its scope of activity, its possibilities and future prospects, its assets and liabilities, etc.
It appears, from recurrent jurisprudence, that during a business acquisition process, the burden of risk related to the object sold is on the buyer if he would have knowledge of them if he had shown due diligence. Due Diligence is required of any buyer and entails consulting documents in buyer’s possession or by performing simple acts of management.
The Risk Information Centre of the Central Bank of Spain (CIRBE) has significant relevance in Spain when it comes to the protection of data. When we say it has a public and confidential character, we do not mean to talk about a common register of defaulters, but of an extensive database where all direct and indirect risks related to the clients of financial institutions, notwithstanding whether or not the holders are up to date with payments.
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