Our lawyers joint both shores of Atlantic, and we do not need to cross the pond, as we are there when you arrive. We feel definitely Iberoamerican, you know, because our branches in LATAM (look, El Salvador, Chile, Perú) and we are absolutely proud to be the European Iberoamericans, as we are based in Spain and Portugal.

This is the original post we published in our UK blog evolutisation, maybe right now is a good chance to keep an eye on it!

Our associate Antonio Cuenca Molina, as General Managing Director of the Iberoamerican Chamber of Spain will participare in a experts pannel for discussing about opportunities and risks of the Real Estate market in Spain and Portugal.

Interest inSpain and Portugal is re-awakening: International Investors are slowly gaining trust in this market again. Yet still the country has many problems to tackle. Is it now a good time for new projects and investments?

During the lecture we will discuss with International investors on the current situation of Real Estate inSpain, the market  prospects and legal and tax implications for international investors when investing inSpain and Portugal.

The conference will be held on 5th October2016 in the conference program of Expo Real Munich, 19th International Trade Fair for Property and Investment. You can learn more here.

Our lawyers are experts inReal Estate.You can find Spanish lawyers in all our offices, experts in  decorporate, merger & acquisitions, finance law, contracts, taxation, transfer pricing, IP and labor law,so all our customers receive a full advice.  lo que todos nuestros clientes reciben un asesoramiento integral.

Your location is not a problem, as we have offices in Madrid and Málaga (Spain), Santiago de Chile (Chile), Lima (Peru), San Salvador (El Salvador), London (United Kingdom) and Zurich (Switzerland).

Evolutiza Abogados & Asesores Tributarios marks difference in short distance, the closer you are from us, the higher we can achieve. We want to be your lawyer.

Call us on 0034 911 697 113 or email us to info@evolutiza.com.es

Be strange but don´t be a stranger

We could colaborate with the Iberoamerican Chamber of Spain, and we share our experience with the Panama Embassy, UNEF, Hispanichilean Chamber or Auxadi, and we give our opinion about the legal certainty in Iberoamerican countries about renewable energies and their future.

If you couldn´t assist, take a look to the pictures taken in the event:

https://www.flickr.com/photos/138090835@N06/albums/72157669475418311

On 29 April 2016 the Supreme Court announced several judgments resolving the appeals filed by EVOLUTIZA Lawyers & Tax Advisors in defense of the interests of photovoltaic investors and promoters.

In those judgments the Supreme Court condemned the Spanish State to compensate investors and photovoltaic promoters for expenses and costs incurred in photovoltaic promotions and projects were unable to benefit from the bonuses and incentives contained in Royal Decree 1578/2008, suspended by Royal Decree Law 1/2012 which suppressed pre-allocation of remuneration and economic incentives for new energy production facilities electricity from cogeneration, renewable energy and waste.

The resolutions also condemn the Spanish Administration to pay the costs of the proceedings and claims.

The procedures have been represented by counsel Lourdes Alvarez Laube, director of the area of renewable energy, and directed by Antonio Cuenca Molina, managing partner of the firm in infrastructure and energy.

Case History

In 2012, following the publication of Royal Decree Law 1/2012 the firm EVOLUTIZA Lawyers & Tax Advisors conducted various property claims to the Spanish Administration for expenses and costs incurred by developers and photovoltaic investors who could not see materialized their projects.

The Cabinet agreed to dismiss the claims on April 25, 2014.

The firm then began the process of appeal to the Supreme Court and the Spanish Administration opposed through the State Barrister.

The approach put forward by the firm was the request of the responsibility of government based on arts. 139 et seq of Law 30/1992 on the basis of which “Individuals are entitled to be indemnified by the relevant public authorities of any harm they suffer in any of their property and rights, except in cases of force majeure, provided that the injury is a result of normal or abnormal functioning of public services’ understanding that in this line, Royal Decree 1578/2008 created a solid expectations for the operators of installations that obtained the registration in the register of pre-allocation and consequent remuneration of its energy, which was thwarted by the Royal Decree Law 1/2012.

The Spanish Administration represented by the State Barrister denied the existence of compensable damage considering essentially that fit not to mention unlawfulness of damage to sight the obvious regulatory risk of photovoltaic technology and regulatory power of government.

The Supreme Court, through its judgments has determined that “it was the Royal Decree of 2008 which created a solid expectations for the operators of installations that would obtain the registration and the consequent remuneration of their energy” and that “the regulatory change that marked the Royal Decree-law 1/2012 was surprising, breaking the principle of legitimate expectations”, proceeding to condemn the Administration to reimburse the expenses and costs incurred in the promotions were frustrated, because “no could be much less infer, even alleged that the regulatory risk of the sector could lead to his suspension just three and a half years after implantation, precisely because the government, in approving the regulation of 2008, had considered all the circumstances that recipients of the standard could consider to take the appropriate business decision to project a photovoltaic installation and apply for registration in the registry section created by repeated Royal Decree of 2008″.

Assessment of the Judgment

These statements represent the first and only to date in which the Spanish Administration has been ordered to compensate the photovoltaic developers and investors the entry into force of Royal Decree Law 1/2012.

The statements also involve a significant upon conviction Spanish Administration to payment of the costs incurred by developers and investors in the litigation that followed made.

The firm

EVOLUTIZA Lawyers & Tax Advisors is a Spanish firm specialized in regulatory and administrative law firm and has been specializing in renewable energy since 2006, which has placed the office as one of the companies of reference in the photovoltaic industry, being the first and only firm to date that has achieved the Spanish Administration be ordered to compensate the developers and photovoltaic investors who were harmed by the entry into force of Royal Decree 1/2012.

Remarkably, both in this sector and in other regulated sectors, the firm has obtained favorable rulings before the Administration and the State Barrister in all proceedings in which he has participated since 2006, placing the firm as reference and leader in regulatory and administrative matters.

For over 30 years we have helped companies to do business in Spain and Latin America. For us you are not one more, we create the solution for you. We advise companies on corporate law, mergers and acquisitions, financial law, contracts, taxation, transfer pricing, intellectual property and labor law.

We are currently in Malaga, Madrid, Chile, Peru, El Salvador, United Kingdom and Switzerland offering quick solutions and business advice. Currently we give our service in more than 50 countries. In EVOLUTIZA Lawyers & Tax Advisors working for your business is the key to big puzzle piece.

Call us at 0034 911 697 113 or write to info@evolutiza.com.es

Be strange but don’t be a stranger

The concept of “sharing economy” encompasses so much aspect that it is really difficult to delimit it, but if we want to define it, we could say that it is “an economic system where goods and services are shared and exchanged through digital platforms. In a easier way, it brings in touch people who have a good or can provide a service with people who need them, it could be a car for a particular journey, available lodgings for one day, spaces to work or certain goods.

The most impressive thing in this new concept is the change which suppose in the old possessory concept attached to human beings, so relations based on cooperation and sharing, which were infrequent up to now, are increasing.

Which problems could this new phenomenon bring? Apparently, these platforms only produce profits to their users, however, they generate some juridical and tax problems that are not solved yet.

First of all, the platforms which make exchanges possible usually get benefits as intermediaries, profit which should pay taxes. It has many controversial aspects if we keep in mind that two citizens from different countries could come into contact through a company established in a third country.

In second place, we have juridical problems too, because some platforms could be favouring agreement between individuals which contravenes the laws (for example, in New York is illegal rent an apartment for less than 30 days), or they could put some sectors at a disadvantage, committing unfair competition (For instance, there are platforms to share cars which have been sued by collective of taxi drivers).

In Evolutiza Lawyers & Tax Advisors we want to be at the cutting-edge of technology and economy. Sharing economy has burst in to stay here. Its levels of acceptance are getting higher and higher, so we will follow its evolution and we will report each juridical or tax changes.

Lawyers in Spain, Chile, Perú, El Salvador, UK and Switzerland

The most common method is the “labour force adjustment plan”. It consist on reducing work times to employees, or reducing the company contract in a collective way, in order to adapt its activity to new situations and keep its viability. In these procedures, it is really important to act carefully and in the least alarming way as possible, because it could affect our credibility seriously. It is especially relevant, since it may lessen the corporate image, losing market share and make the company situation even worse. If we want to prevent this, we should to make a strategic preparation which allows us to foresee the negative impact and reduce costs.

There isn’t a standard process to follow when we have to modify labour relationships as a consequence of a corporate restructuring, nevertheless, there are some patterns which make adjusting to legality possible and, above all, reducing damage for both the company and its workers.

One of the most important measures is delimiting those people who will be affected by the process, and which criterions will be used to choose them, criterions which allow us to keep the best professionals without any discrimination, and respecting Corporate Social Responsibility in every moment.

In summary, to start a staff restructuring process, it is really important to know professional who are able to develop a suitable viability plan, in addition to projects plans or technical reports, which will have a double value: they will allow us to carry out the restructuring process in the least detrimental way and they will be useful as probationary documents about excess staff for later eventualities.

It is not a secret that the region growth has suffered a deceleration, getting to negatives values in last year 2015, behind OECD countries average. There are several factors which have contributed to this negative growth: a weaker global growth, the fall in raw material prices and important countries which are experienced difficulties, as Venezuela, Argentina or Brazil.

However, not all predictions are bad. Now, emerging powers could get together to find solutions, and at this point, Latin America and Chinawant to converge, making an effort in product diversification, modernization and integration. The existing proponents, as Mercosur o CARICOM, could play a essential role to make these efforts easier.

The future ofLatin Americadepends on understanding which the new necessities of the big Asian country which are, for example, agricultural industry or services. In addition, effective politics and strategies to improve human capital competitiveness should be carried out.Chinais already working in this point. 200 million Chinese citizens will have tertiary studies in 2030, according to estimations.

In summary, links betweenChinaand Latin American have to narrow and follow the appropriate steps to its optimization. Turning to the most favorable industries besides alleviating the infrastructure deficiencies could mean taking the most out of new Chinese situation.

If we want to define CSR, we can say that it is a way to manage companies, keeping in mind its relationships in its activity field, either with its costumers, its stockholders or with external scope, environment or society in general, not only according to law, but also  according to the most ethical way too.

This way, it is necessary to highlight the Good Corporate Governance Code, as we explain in previous post, a combination of advices about rules and principles which should inspire the public limited companies operations.

In addition to this code and its contents, we can also resort to the sustainability indexes, standards of listed companies around the globe which confirm that its management is responsible by advanced practises related to corporate sustainability and responsibility. To be selected as a company which accomplishes these indexes, it is necessary to overtake a test which confirms an activity based not only in financial benefits, but also social and environmental criteria.

These indexes get a capital importance, because they are analyzed by numerous companies, which are aware about the importance of achieve with them, in addition to possible investors, who value in a really positive way the combination of economical success and sustainable development. 

We call Private equity to an investment in which a big company invests on a smaller one, generally unlisted. The big enterprise will control the other by the ownership of a high percent of the company or many shares of it. The aim of the Private Equity is small companies with a huge growth potential, which will suffer transformation processes to get value added.

The negotiation is carried out before investing, and it is the most decisive point in this operation, because it will delimit the investor’s action spectrum, or the payment methods to get the property.

On the other hand, the investment on unlisted companies is usually intended for selling the purchased rights, with their capital gains which emanate from transformations previously mentioned.  There are three methods to leave the companies:

• Initial Public Offering (IPO).
• Purchasing the company to other Private Equity.
• General selling operation, directed towards investment groups, other companies in the sector,…

Among the advantages of Private Equity, we find that they have a good yield in the long term, above stock indexes. We should not overlook that the European GDP is generated by unlisted company for the most part. In addition, private equity tries to avoid losing any investment, and it isn’t linked to stock markets.

Finally, among its disadvantages, we can include that they are long-term investment and they require many resources in comparison to investing in the stock market.

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When you come, we’re already there.

Offices in Spain, Chile, Peru, El Salvador, United Kingdom and Switzerland.

Lawyers and tax advisors working in more than 50 countries.

When we want to optimise the M&A process, we need to verify the current situation of involved company as well as their estimated projection. At the legal level, this supposes to accomplish a detailed study about certain factors, for example:

• Article of association. These processes usually make necessary to carry out some changes on the article of association, even more if we keep in mind that legislation could have changed along the life of the company and not all companies keep their articles updated.

• Civil liability insurance. Having or not civil liability insurance and its characteristics are fundamental to analyse risks that the company is exposed to
• Contracts and licenses. Depending on the sector where the target company carries out its activity (Occasionally it is very different to the activity of the buyer company) and its size, there could be mistakes that we shouldn’t overlook.

These examples illustrate that it is really recommendable to rely on a comprehensive advise. The used prevent tool is the Due Diligence, a professional study which make possible to know the financial condition (including legal status) of the target company in order to avoid future obstacles. In the same way, a good decision about who will develop that Due Diligence can help to strengthen your contractual position in any M&A process.

The expansion process of ICT companies seems to have no limit. As lawyers specialized in ICT, we want to give an overall view about what next year predict.

The technological progress has caused that people and companies have linked their activities to technology inevitably. It is evident that it cause that companies dedicated to Information and Communications Technology face a high demand for their services. What does this suppose? What will it suppose in 2016?

It we talk about labour sphere, job offers in this sector have increased along this year more than a fifty percent regarding last year. ICT sector is near to full employment figures, a trend that doesn’t have signs to change, this sector has progressed a lot, and this projection is maintained.

In economic terms, estimations assume that in 2016, ICT companies could be a 3.1 % of Spanish GDP, figures which rise again year after year.

Law is facing some challenges related to ICT which we should not forget, challenges

that constitute a pending task. Among them, we have to highlight that Administration of Justice  have to adapt itself to new electronic communications systems, improving efficiency in its process, or the correct incorporation, investigation and penalization of technological felonies in our law.

In short, despite technological advance in last decades, there is much to improve and to work about, so ICT sector is a good place to do business and invest. If you have any doubt, we will be glad to advise you.

In order that the project of integration that is claimed is satisfactory, it is necessary that there is carried out a planning, inside which the principal risks place to bearing in mind:

-        Lack of organization between organizations: to be able to realize a successful integration is necessary bear all the aspects in mind of both in an igalitarian way, both in cultural aspects and in personnels or politicians. For it, one will use a few guidelines, which are:

• Follow-up of the policies, strategies and internal procedures established to align the new organization.
• Follow-up of the policies, strategies and internal procedures established to align the new organization.
• Orientation and formation of the personnel towards common aims.
• Consolidation of a culture of service to the client.
• To define the type of distribution of the work and the relations of dependence between functions and responsibilities.

All the factors that have been mentioned previously are interdependent and on them it depends that the organization has like a successful integration proved.

-        Not integration of the “timing” or speed: The speed of the integration has relevancy great at the moment of realizing an acquisition, since this one is alone one more phase of the company, but the latter has to continue realizing his routine activities.

-        Not location of the persons in charge of the income and his variables: As last aspect that has to be born in mind to realize a successful acquisition, we emphasize the identification of the persons in charge of the income and the variables with those who can turn affected. The persons in charge of income in the organization can be between others, certain contracts with suppliers or processes of innovation, between others.

At the moment of defining and to identify perfectly the possible risks, not only we have to possess the elements that we have mentioned, also we must identify the possible impacts of losses, preparing a detailed action plan that it bears in mind the clients in risk and that gives the sufficient attention to the due formalities (due diligence).

If you are thinking of doing a merger or managerial acquisition, do not hesitate to contact our attorneys as specialists in the managerial sector.

We will determine in this article certain guidelines and criteria to follow, which are essential when it comes to export any product to Saxon territory.

First it is essential to have the necessary stock. It seems obvious that to get out of Spain and meet European demand is necessary to calculate amount of product that can be issued and able to deliver correctly and within the agreed timeframe.

You need to find a potential market that offers opportunities and, all countries have an institution that supports exports and imports, referring toSpainare the ICEX. We must add, the correct design of a strategy or business idea to carry it out, we can opt for either direct exports several options, franchises or licenses among others. To complete the process and studied well the opportunities and prospects, is formalized through a contract.

All entries or shipments taking place in carried out in EU are considered intra-Community supplies, which may be dispatch or arrival depending concerned.

These movements are excluded from any trade restrictions or customs duties.

VAT and excise duties apply in each country on the products consumed in their jurisdiction area.

There is also the obligation to declare the goods traffic between EU countries by the INTRASAT system for collecting trade statistics.

The requirements in export operations depend on the origin of the goods, country of destination and the product exported. A series of administrative and commercial documentation covering the goods required. What would basics:

• Customs documents: Export DUA (single customs document)
• Certificates of origin of goods: Certificate of Origin, EUR1, EUR2, ATR, FORM A.
• Commercial documents: proforma invoice, commercial invoice, customs invoice, consular invoice, packing list.
• Document of transport: Bill of Loading, CMR, AWB
• Certifications of different organizations: AGREX, SOIVRE, HEALTH, CITES, counter, quality, conformity.
• Insurance policies: transport insurance, export credit insurance, change.

If you want to bring your product to UK, Evolutiza Lawyers & Tax Advisors have highly qualified staff will offer all necessary to achieve it, if you need advice or have any questions, contact us!

First of all, we have to consider the regulatory dispersion. OECD rules are different from Spanish ones whose compliance is controlled by Spanish Tax Administration.

OECD politics advise national bodies to be reticent to punish companies about transfers pricing, considering that companies have to transfer all kinds of goods and services, and OECD stands up for respecting the principle “Presumption of innocence”. In accordance with it, its sanctions pursue prevent further breaches. This way, those companies that meet their requirements have some benefits, for example, submitting documents to authorities will be cheaper.

On the other hand, Spanish Tax Administration gets openly separated from these parameters, penalizing those taxpayers that don’t accomplish its excessive requirements.

Which penalties are contained in Spanish law about transfer pricing?

They are in the Act 27/2014, of 27^th November, about corporation tax, whose article 18.13 states that if a company don’t provide the administration with the necessary paperwork, this paperwork is incomplete or it has any false datum, the company is committing a grave infraction.

This inflexibility makes important to have a good advice if you need to accomplish related party transactions. In Evolutiza Lawyers & Tax Advisors, we are specialised in transfer pricing. Don’t hesitate to contact us.

The country has always been present in globalization, but its internationalization dates back to the eighties, when a neoliberal economic model was introduced. This is characterized by policies of market liberalization and deregulation. Mexico was ranked as one of the world leaders in signing free trade agreements.

Since Mexico is part of the General Agreement on Tariffs and Trade, they have signed many free trade agreements. These agreements highlight the North American Free Trade Agreement, the Free Trade Agreement with the European Union and the Latin American Integration Association (ALADI). 15Free Trade Agreements with 45 countries, 31agreements on promotion and reciprocal protection of investments and 9trade agreements with ALADI.

The factors that make it attractive to Mexico are macroeconomic and political stability, low inflation, and easier access to the Mexican domestic market, low labor costs and highly skilled workers. The increase in foreign trade with the Inca country is a result of changes in the Foreign Investment Law. This law establishes the exceptions of foreign investment participation

The economic potential of the country lies with the natural resources that contribute to the development of various economic sectors. Is notably, the mining sector for wealth in silver and copper; biotechnology, energy sector in general and renewable energy in particular.

Although not all foreign investment may invest there because of the limitations and prohibitions provided the LIE.

Some activities reserved exclusively to the state are oil and hydrocarbons; petrochemical; generation of nuclear energy and radioactive minerals.

This issue is one of the biggest barriers to investment in Mexico.

Because it is facilitates economic rigidity and reduced foreign investment.
The sectors driving the economy of Mexico in 2015 are the automotive, tourism and energy sector.

In a recent economic studies we can verify that the prices are raising as a result of an increase in demand because the investiment of developes which want to buy plots and star new projects.

Another element which has contributed to que improvement of this market is the employment´s increase although it has expandes precariouly. Therefore the wealth of families has produced an increase and the can buy more properties.

In addition the banking reorganisation has also contributed to the property dawn. Banks give more loans because people are more confident economically in spite of the interest of loans has felt.

The little improvement of the economy has been corroborated. There is growth estimate the GDT to 2017 for 3%. This combination of elements will make the property market to grow. However, this positive information is not the same when the property bubble bursted. There is a large demand of buying second homes, and this is an important piece of information to property merkat.

Natives and foreigners look for a settlement in “ Costa del Sol” or south of “ Alicante”. But is necesary to emphasire the foreign investment in pur country. This year the buying and selling by foreigners represent the 17 %. This information reflects the foreigns´ trust and the reactiveting of the land´s value.

Even so there are in Spain a lot of empty houses, exactly there are 400.000. Therefore the improvement of this sector has been marketd by a variable recovery. Although the no residencial merkat has grown, the residencial market is constant.

A property and competitive sector is good for the economy, but it can not commit the same mistakes that we commited in the past.

Therefore it is necesary to avoid an excesive building and the irresponsable concesion of mortgages should be stopped. In Evolutiza Abogados & Asesores Tributarios we inform you about the posible evolution of this sector and his consecuences.

If for something stands out the new Law of Due Diligence, which approval is waited for June, 2016, it is for the limitations that he gathers in his text, tending to a major independence of the auditors. Since experts we proceed to offer you a brief summary of the measures and limitations that are foreseen to pass:

-       The extension of the concept of Entity of Public Interest (EIP), in order that in him there are included besides the quoted, insurance companies and credit institutions the companies that form a part of the Alternative Stock exchange Market (MAB), whose auditors will be more demanding.

-       There is established a limitation of 10 years in order to contribute a major juridical safety. One tries to establish a consistent and uniform application of the procedure that regulate the independence of the audits. Once spent the term of 10 years, another auditor will be the one that realizes the functions. Nevertheless, there exists the possibility of returning to the post as long as pass 3 years of term. This turns out to be regulated in the article 40.

-       A limitation of the fees is established for the auditors who take charge of entities of public, consistent interest in:

• The emission of a report of audit which content is more wide than that is realized in a general audit.
• Duty to publish the annual report of transparency and those of the network auditora.

-       In the services different from the audits the remuneration cannot overcome during three or more exercises, 70 % of the average of the fees for services of audit during last three years.

-       The fees of the entity cannot overcome in the last three exercises 15 % of the total of income perceived by the company auditora.

-       A list of incompatibilities is established by the exercise of the post, between that those of accounting stand out, audit hospitalizes, law. Limitations that spread to relatives as the spous.

From Evolutiza Lawyers and Tax Advisers we encourage him to solve all the questions that on this next Law him could arise, do not hesitate to contact us.