Monday January 29th, 2018
by Dominic Porta
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Presentation Holiday Rentals February 2nd 2018

Dear Clients and Friends of Forteza-Rey, Roca & Porta (FR&P),
it is our pleasure to present you the latest and most important news on holiday rentals.Therefore and together with our partner European Accounting, we offer a presentation at Club Diario de Mallorca (C/Puerto Rico 15, Palma) on Friday February 2nd 2018 at 1.30 pm. Entry is free, but registration is mandatory. More details about this event and registration you will find here: Seminar_Ferienvermietung_02_02_2018-1

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Tuesday October 10th, 2017
by Dominic Porta
Comments Off on Financial Awareness Event

Financial Awareness Event

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Dear Clients and Friends of Porta & Associates,

It is our pleasure to invite you to our Financial Awareness Event at the 19th of October in Palma de Mallorca. Details of the event as well as sign-up information, you will find here. The event will be in English and is free of charge. We are looking forward to see you there or at one of our other events.

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Tuesday July 11th, 2017
by Dominic Porta
Comments Off on Vacational Rentals 2017

Vacational Rentals 2017

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It is more than possible, that beginning from July 24th 2017 the tourism authorities will not grant new licenses for vacational rentals for several months. This due to the fact, that the Balearic parliament will vote on a new tourism law, which regulates vacational rentals limiting it on the one hand and amplify it on the other. If the parliament votes in favour of the new law, it is most likely, that issuing new licenses will be post poned until there is a decision on the implementation of the new rules. Since it is also more than likely, that number of beds for vacational rentals will then be limited in several regions of Mallorca, it would be wise to apply for the correspondent license before the July 24th 2017.

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Saturday June 10th, 2017
by Dominic Porta
Comments Off on Kingsday 2017 Sponsor Porta & Associates Barcelona

Kingsday 2017 Sponsor Porta & Associates Barcelona

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Kingsday 2017 Sponsor Porta & Associates Barcelona

P&A Barcelona was one of the 9 sponsors of the Dutch national holiday Koningsdag on the 27th of April when the Dutch celebrate the birthday of King Willem-Alexander with all kinds of festivities. In Gava Barcelona, the Dutch Association for Dutch people in Barcelona and surroundings (NVBCN) together with the Dutch school (Oranjedijkschool) organized a special family Kingsday celebration with festivities such as old fashioned dutch children’s games like sjoelen, spijkerpoepen and zaklopen.

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P&A donated one of the prizes for the famous Kingsday Lottery where the participants could win lovely prizes such as a dinner for two, a dutch food basket or a wine basket with 3 very fine wines offered by P&A specially for the event.

Around 300 people attended this year´s Kingsday in Gava Barcelona.

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Sunday February 12th, 2017
by Dominic Porta
Comments Off on „Clausula suelo“ – What is that?

„Clausula suelo“ – What is that?

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For some time now, the Spanish newspapers and media report on the so called „Clausulo suelo“ and that in Spain there are some 1.5 million affected people. But what is it exactly?

The „Clausula suelo“ is a contract clause in mortage contracts with a variable interest rate. The clause determines that the banks can charge a minimum interest rate to the client, even if the benchmark interest rate is lower or negative. Therefore it is a unilateral clause favouring the banks and in disadvantage to the consumers.

Out of this reason, the Spanish High Court (Tribunal Supremo) declared those contractual clauses null and void in the year 2013. However, the sentence limited the bank’s obligation to repay the illegally obtained interest to the time after the sentence.

On December 21st 2016 the European Court of Justice decided, that said limitation is illegal, as well. In consequence the banks now have the obligation to repay all illegally obtain interest plus the interests generated thereof. Since then several Spanish courts ruled to the disadvantage of the banks condemning them to bear the trial costs too.

In January of this year, the Spanish government put in place a law giving the banks the opportunity to reach an extrajudicial agreements with their clients on this matter within a period of three months. If the affected client were not to agree with the bank’s proposal, they still could reclaim everything through the consumer centre or their own lawyer.

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Sunday February 12th, 2017
by Dominic Porta
Comments Off on Trans border account blocking within the EU

Trans border account blocking within the EU

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On January 18th 2017 the EU regulation number 655/2014 entered into force. Accordings to this regulation it will be easier for creditors to block their debtor’s bank accounts in other EU countries with the exception of Great Britain and Denmark.

What does this mean practically speaking? Up until now a creditor, who had a claim against a debtor, needed either a legally binding title, e.g. a sentence, against the debtor to initiate enforcement measures, e.g. blocking his bank accounts, or was limited to the interim measures proceedings of the single member states. Those who already have had experience with the Spanish courts, will know, that it can take up to several months to obtain an injunction. This giving sufficient time to the debtor to move his assets to another country, e.g. by money bank transfer to his account in Germany. It was possible indeed to execute a legally binding title in a different EU member state, but often this is a long and costly procedure and the creditor could not be sure of the debtor having any money in his bank account at the time of enforcing the measures. This concluded in the debtor, after years of proceedings, not being able to recover his claim and also having to bear the court and lawyer fees.

This shall change from now on. The new EU regulation gives the debtor the opportunity to file a motion to block the accounts of his debtor in other EU countries, even before filing a law suit. He needs, however, to proof that otherwise his chances of recovering his claim are fairly limited which should not be too big a problem in those cases, where the debtor has left the country.

In addition to that, the creditor can solicit information of the debtor’s foreign bank accounts, if he does not have all (or none of) the necessary data. This can be done within the same proceeding.

There are, however, some limitation to the applicability of the EU regulation. The most important ones are in cases of insolvency of the debtor or if the case falls into the area of wills, testaments or child support.

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Thursday October 20th, 2016
by Dominic Porta
Comments Off on Spanish Tax Specialist at Porta & Associates

Spanish Tax Specialist at Porta & Associates

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One of our Attorneys, Linda Rens, graduated for her Master in Spanish Tax Law of the Barcelona Bar Association (ICAB) and can call herself from July 2016 a Spanish Tax Specialist on paper as well. Linda is already working in International and Spanish Tax and Company law for over 5 years, but now she also has an official degree to support her work experience in Spanish Tax law. She earlier graduated at the UPF University in Barcelona in a Master in Spanish Company and Administrative Law. If you have any questions about legal and tax questions regarding the Incorporation of Spanish companies such as an SL, SA or Sociedad Civil or an Association, or if you want to become an Autonomo (self-employed person) and would like to know more about the tax implications, or you have any other Spanish tax question, please do not hesitate to contact her directly at linda.rens@p-and-a.es or call +34674176327. Linda is based at the Barcelona office at Gran Via and speaks English, Spanish and Dutch. She also advises on legal areas such as Spanish Company law, Compliance, Housing law, Employment law and is a Dutch and Spanish registered lawyer. To increase her Compliance skills for her corporate clients she is now attending a postgraduate course in Compliance at the UPF Barcelona School of Management, the most recommended institution for Compliance educations in Spain. If you are interested in Spanish legal or tax advice or require a Compliance Due diligence of your own company (or a Third party or your clients), please contact her directly. Congratulations Linda from everyone of Porta & Associates!

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