IFICI: The new Portuguese tax regime that replaces RNH
Portugal has initiated a new stage in its international tax strategy with the implementation of IFICI, also known as RNH 2.0. This new regime seeks
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During a general meeting, the shareholders discussed the re-election of directors after the expiry of their term of office. However, the votes were tied, preventing an agreement from being reached. Subsequently, an application was made to register this ‘non-approval’ in the commercial register by means of the notarial minutes of the meeting. The commercial registrar refused registration on the grounds that the Capital Companies Act (LSC) requires a majority for the adoption of resolutions and does not provide for mechanisms to resolve ties in the voting at the meeting.
The Directorate General confirmed this decision on the basis of three main arguments:
The resolution emphasises that the Commercial Register cannot be used to reflect situations that do not constitute registrable acts under the law. Furthermore, it underlines the importance of providing for solutions in the articles of association to avoid the paralysis of the company due to a lack of resolutions. In this context, the resolution of ties could be addressed through measures such as the intervention of an arbitrator or additional mechanisms provided for in the articles of association, although their validity would depend on the judicial analysis in each case.
Portugal has initiated a new stage in its international tax strategy with the implementation of IFICI, also known as RNH 2.0. This new regime seeks
The validity of the registered notice of the general meeting of a company requires that the effective intervention of the affected directors be guaranteed, with
The Barcelona Provincial Court rules on the protection of usufructuary rights and shows that dilatory practices to the detriment of legitimate rights can lead to