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HOW TO CALCULATE THE ADVANCE NOTICE REQUIRED FOR THE CALL OF A GENERAL SHAREHOLDERS’ MEETING?

Article 176 of the Spanish Capital Companies Act [link: https://www.boe.es/buscar/act.php?id=BOE-A-2010-10544] (hereinafter “LSC”) establishes that “Between the call and the date set for holding the meeting there must be a term of at least one month in the case of joint stock companies and fifteen days in the case of limited liability companies.” The aforementioned article, in regulating the advance notice…

CONSEQUENCES OF NOT REGISTERING THE CONDITION OF SOLE SHAREHOLDER WITH THE COMMERCIAL REGISTRY

Although the concept of a sole shareholder is apparently contradictory to the essence of a Company, the Spanish Capital Companies Act (“LSC”) specifically allows such a possibility in article 12 and subsequent. The condition of sole shareholder may originate from the moment of incorporation of the company when the shares or participations of the company are held by a sole…

CHANGES REGARDING THE FREE MOVEMENT OF CITIZENS IN THE EUROPEAN UNION

EU Regulation 2016/1191 of the European Parliament and Council of 6thJuly 2016 is designed to simplify the requirements when filing public documents regarding the movement of European Citizens within the European Union. It also aims to simplify administrative requirements regarding the filing and validity of public documents issued by one Member State in other States of the European Union. The…

TAX RULINGS

In October 2015, the European Commission already declared illegal so called “tax rulings” passed for multinational companies such as Starbucks, Amazon or Apple in countries like Holland or Luxemburg. The term “tax rulings” is used as a preliminary form of advising companies regarding the taxes they are to pay. It is not exactly an illegal practice, however, when complicated regulations…