is one of the most attractive European countries
for doing business
, after its economy has recovered from the deep economic crisis that affected the country in the last years. Foreign investors can benefit from the strategic geographic position of Spain
as a gateway for the markets in the south of Europe, Latin America and North Africa. Our team of lawyers in Spain
can offer more details on the main reasons for investing
in this country.
Legal requirements for Spanish contracts
When starting a business in Spain
, foreign investors should know the basic rules for signing contracts
in this country, the main tool through which business partnerships
are established here.
In order to be recognized under the local legislation, each business contract
needs to be signed
. The document has to contain specific provisions, including in its signature block
, which has to contain the following:
• the signature;
• the name of the person who signs the contract;
• the legal statute of the respective person.
Corporate parties who can sign a Spanish contract
In a company, specific persons are entitled to sign a contract, depending on the type of agreement the legal entity will enter.
This is important in order to establish if a company was legally represented by a certain person, as a company can invoke undue representation, according to the First European Directive on Company Law.
The representatives of a company are to be found in the articles of association of the company and specific documents can only be signed by particular persons, such as the company’s president or chief executive.
There are also other persons who can represent a company
through the power of attorney
, which can also be granted to our team of Spanish lawyers
for a wide range of legal matters available for both corporate bodies and natural persons.
Below, investors can find out more details on how to sign a contract with a Spanish company
In case of a limited partnership
, if the legal entity
is represented by another company
, the latter should be mentioned in the signatory block
, as well as the name of the person
who represents it. It is not mandatory to attach to the contract
the power of attorney
or other documents
proving the legal right of representation
, but for important contracts
, especially when a lawyer
is assisting, there are specific documents
, such as the power of attorney
, that are to be attached to the contract
The pages of the contracts concluded in Spain are generally initialed, even if this practice is not common in other jurisdictions. The initialing person, who may or may not be the signatory of the contract, will place his/her initial next to the signature of the person or legal entity for which the contract is initialled.
This is also applicable to contracts
signed for mergers and acquisitions procedures in Spain
. In Spain
, commercial contracts
are regulated by the Commercial Code
, which regulates all the phases of this type of agreement
, modifications and others).
Reasons to invest in Spain
has more than 2,400,000 million companies
and more than 5,500 foreign companies
, being the 14th world’s largest economy
. At the same time, Spain
is the 29th world economy
in terms of gross domestic product per capita
and one of the leading economies
at the level of the European Union (EU).
Spain is also a good destination for doing business
, as presented by the World Bank’s Doing Business Report
. Overall, Spain
enjoys a favorable business environment
, as its “distance to frontier
” projections for 2018 reveal a value of 77,02
(out of a maximum of 100). The indicator shows the current state of the economy
taking into account various indexes, such as the procedures for starting a business
, regulations for investors
or the enforcement of contracts
If you need more details about signing contracts
in this country, you may contact our law firm in Spain
. Our Spanish lawyers
provide legal assistance for concluding business agreements
and contracts and they offer a wide range of legal services for foreign and local businessmen.