refer to the services offered by a natural person – specialized in a specific field, or by a company, with the purpose or acting on behalf of a client
in a legal matter. The main aspect related to the fiduciary services offered in Spain
is that the specialist must represent the best interest
of his or her client. At the same time, the person should also act in good faith
, as he or she is responsible for the well-being of the client’s assets
. Such services can be provided for numerous aspects related to the finances of a natural person or a legal entity
. Our team of lawyers in Spain
can provide legal assistance on the main fiduciary services
Obligations of a fiduciary in Spain
Regardless if the fiduciary services
are provided by a natural person or a legal entity
, the respective one that acts on behalf of a client – who can be represented by a natural person interested in wealth management services
or by a shareholder
, stockholder or any other type of customer interested in managing his or her assets, the provider must respect several duties.
In this sense, we mention the following moral obligations of the persons providing such services:
• full disclosure when consulting with the client;
• accounting responsibilities.
Fiduciary services available in Spain
As a general rule, fiduciary services are usually provided to various corporate entities, with the purpose of representing the interests of a certain beneficiary.
Most of the fiduciary services are available for the following categories of entities:
• board members and shareholders;
• lawyers and clients;
The fiduciary relations
that can be established between lawyers and their clients
can cover a wide area of legal matters, related to the incorporation of a company
or various legal issues, such as litigations cases
. The lawyers in Spain
have the obligation of representing in court or in front of a local institution the best interest of the client
, as the attorneys
have the legal right to act on behalf of the clients
. In this sense, we mention that the clients can sign the power of attorney
, which will allow the lawyer
to represent the respective natural person/company.