
Start-ups, Law 28/2022 of 21 December
If you are thinking of launching a start-up in Spain, Law 28/2022 of 21 December could mark a turning point for your project. It is
The SAP IB 3022/2023 ruling dated 23 November 2023 issued by the Provincial Court of Palma de Mallorca, heard the case referring to a lack of agreement between two joint and several directors of a company, which in turn was a shareholder of another legal entity, in relation to which of the directors should act on behalf of the company at the General Shareholders’ Meeting.
The relevance of the ruling lies in the fact that the two directors had sufficient powers to represent the company at the general meeting, but with the exclusion of representation in favor of the other company.
Thus, the ruling applies Article 126 of the Capital Companies Act by analogy, to conclude that this is the same as in cases where the co-owners of company shares must appoint a single representative of the joint ownership for the purpose of attending and voting at the general meeting.
The appointment of a single representative allows for the unified exercise of the shareholder’s rights, which, as we can see, also applies in situations of co-ownership of company shares, similar to an estate pending distribution.
If you are thinking of launching a start-up in Spain, Law 28/2022 of 21 December could mark a turning point for your project. It is
Corporate tax is one of the main tax burdens for any company in Spain. But it is not all obligations: our system also offers tools
Executive summary In January 2025, the Organic Law 1/2025 was introduced, which amended article 365.3 of Spain’s Companies Act (LSC). The reform grants company directors