Law 18/2022, of September 28, on the Creation and Growth of Companies seeks to improve Spanish business competitiveness and for this the legislative plan is based around three key ideas, which we summarize below.
Cheaper company formation
This objective is specified in three measures:
- the authorization so that limited liability companies can be created with a capital of 1 euro, the partners responding jointly and severally in the liquidation up to 3.000 euros
- allow the incorporation of commercial companies entirely electronically, including appearance at a notary office, through the use of standardized forms and with registration qualification within 6 business hours from receipt
- As an instrumental measure of the above, oblige all notaries to join the CIRCE platform and use the Notarial Electronic Agenda to make an appointment
Strengthen the unity of the national market
- emphasizing the principles of proportionality and proportionality for the establishment by public administrations of restrictions on free competition
- prohibiting discrimination based on territorial origin
- providing the Observatory and the Secretariat with market unity, as well as the CNMC with greater powers
Facilitate financing for SMEs
This purpose is promoted with the following measures:
- forcing the reduction of the average payment term, imposing the electronic invoice inter privatos, forcing a reinforced publicity of the fulfillment of the obligations of payment in term in the memory of the non-abbreviated annual accounts and establishing as an unfair behavior the repeated delay of the payment terms (art. 15.4 LCD)
- developing crowdfunding and crowdlending platforms
Isabel Gandía Cambra and Sara Eixea. Associate and collaborator of Tomarial
