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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche. www.costaluzlawyers.es

Legal tip 997. Limited Liability for Enterprenurs in Spain: home protection
29 July 2013 @ 15:23

A new figure: Limited Liability Enterpreneur

This new figure allows the individual entrepreneur prevent, under certain conditions, liability for business or professional debts to affect his family home.

Requirements: 

1.  Home house cannot be linked to operations of the business

2. Value cannot be higher than 300,000 Euros

3. It needs to be communicated and  specified to Company Registry  when registering as and Entrepreneur

4. It needs to be registered in the Land Registry.

All this can be processed  through electronic means in less than 12 business hours. 

Liability restriction  does not covers:

1) Previous debts

2) Non professional or business obligations.

3) Public Law debts (Taxes or Social Security)

Public law claims just can affect homes if: 

No other assets can be enforced

- Two years have passed between initial notification of seizure and actual

"Casa en el numero 3 de la Plaza Aliatar", El Albayzin, Granada, Southeastern Spain, by Landahlauts, at flickr.com



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