The past 1st of November we were honored with the presence of the Minister of Higher Education of Cuba Dr. José Ramón Saborido and the Hon. Ambassador of Spain in Cuba Mr. Juan José Buitrago de Benito in the signing of the international economic association contract with Centro Internacional de La Habana (CIH) for the provision of professional services.
The contract was signed within the framework of the Havana International Trade Show (FIHAV).
This contract was signed under the nº 298 of 2017 Resolution of the Ministry Trade and Foreign Investment, and after fulfilling the requirements of the nº 118 “Foreign investment law”. The purpose of the contract is the provision of professional services of economic profile and consultancy, studies of pre-feasibility, feasibility, market research studies and post investment studies, preparation of analytical reports on economic issues and trade, developing business strategies, business management, diagnostic studies, accounting advisory and the valuation of assets for the domestic and foreign market.
This agreement strengthens the commitment of Jimenez Astorga in the Cuban market. The synergies generated between CIH and JAAC in the past years paved the way to make great efforts to achieve the signing of this contract.
JAAC becomes the first foreign company in Cuban territory to obtain authorization for the provision of consulting services. Noteworthy is the importance of its membership to the Bridge Alliance (www.bridge-alliance.com) an International Alliance of law firms with an international scope with presence in 12 countries for the joint management of potential investors in Cuban territory.
The experience acquired by JAAC in the Cuban market is a valuable asset for investors interested in developing investments in Cuba. Given the characteristics of the Cuban market it is essential for investors to have a powerful ally that provides a professional advice and an efficient consultancy service throughout the nvestment process. With the signing of this contract, JAAC along with CIH, can provide a professional service combining the experience and the work methodology of a European firm with CIH´s knowledge of the local market.
The law that regulates franchise in Spain is the Royal decree 201/2010.
The relationship between franchisor and franchisees is based on the legal independence of their companies, limited by the framework of their agreement. Their relationships are independent, each one responds to the other for his contractual breaches.
Individuals or legal entities that intend to develop the franchising activity in Spanish territory are obliged to communicate their data to the Register of Franchisors within three months from the start of the activity.
The Spanish franchise legal system is quite similar to the own European Union system. The franchise is defined as a system of collaboration between two legally independent parties, linked to each other through a contract whereby one of the parties, the franchisor company yields, in exchange for some economic remuneration, the right to use its trademark And their “know-how” business, for a limited time and in a determined territory.
The franchise responds to the need for a constant renewal of the market offer, obliged by the unstoppable and increasing appearance of new competitors and the requirement to offer new benefits.
The franchise gets closer to the consumer through a well-understood specialization, that is focused on a better knowledge of the product and above all, a better service and attention to the consumer. […]
The foreign investor can operate in Spain through a branch office, which will never have its own legal personality; hence, it will depend entirely on its parent company, so that the legal personality will always be that of the parent company itself. This is quite relevant since, for example, as it does not have its own legal personality, it´s not possible to transmit the social capital of a branch office.
What is the minimum economic requirement to obtain a Golden Visa in Spain?
The law regulates a specific visa for foreigners not residing in Spain who intend to come to the country making a significant capital investment. These foreigners can apply for a visa of stay or a residence authorization. The law considers as a significant investment:
(I) creating jobs.
(II) Making an investment with relevant socio-economic impact in the geographical area in which it will develop the business activity.
(III) Significant contribution to scientific innovation and / or technology.
In all of the above situations, the awarding of this residence permit does not require actual residence in Spain, which has the consideration of a yearly stay in the country of 183 days. The only requirement is to visit Spain once during the period of residence.
For further information contact our immigration department. email@example.com
Mohsen Masjedi. Lawyer
Following the withdrawal announcement from Joint Comprehensive Plan of Action (“JCPOA”) by Trump administration, the secondary sanctions retargeted the international businesses intending to deal with Iran. Already today, almost all of the major European companies have left their projects in Iran and the regular trade between Iranian and EU members faces serious banking and payment challenges. On late January, France, Germany and the United Kingdom announced the establishment of INSTEX SAS (“Instrument for Supporting Trade Exchanges”) as their promised contribution in keeping the JCPOA in place. The INSTEX has supported by the EU, which affirmed it’s willing to work on the instrument with Iranian counterparts to make it operational. It could be argued that the success of the Instrument is the only existing factor that could survive part of the expected economic benefits that Iran gambled for during the nuclear negotiations. The effort has been made yet could be described as symbolic. Apart from various technical and legal barriers against operationalising the mechanism, it is not clear that to what extent it could protect European companies from being targeted by US secondary sanctions. It remains to be seen how INSTEX payment mechanism will work in practice.