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December 31st of 2021

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December 12th 2021

The Spanish Government approves the law ‘Ley Crea y Crece’, which allows companies to be set up with one euro and fights against late payment.

At the end of November, and within the framework of the Recovery, Transformation and Resilience Plan, the Spanish Government approved the Law project “Ley Crea y Crece”.

The purpose of this law is to encourage the creation of companies, facilitate their expansion and improve the business climate throughout the country according to Nadia Calviño, the Second Vice-President of the Government and Minister of Economic Affairs and Digital Transformation.

Among other things, this law provides for the lowering of the initial capital required to register a limited liability company from 3,000 euros to a symbolic euro. With this new law, Spain is harmonising its legislation with other European countries and wishes to combat the «commercial gloom».  The time and cost of setting up a business in Spain will be greatly reduced.

It will also make it easier for companies to access European funds and subsidies to improve the business climate and encourage digitalisation. The government wants to facilitate investment and boost business creation.

The Recovery, Transformation and Resilience Plan is incorporated in the Spain 2021-2026 roadmap of approximately 140 billion euros. It incorporates an important agenda of investments and structural reforms, which interrelate and feed back to achieve four cross-cutting objectives: moving towards a greener, more digital, more socially and territorially cohesive and more egalitarian Spain.