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On the 30th of October 2012 it was published in the “Boletin oficial del Estado”-BOE- (Spanish official newspaper for new legislation) the Law number 7/2012, containing important measures against fraud.

Regarding especially, the prohibition of paying an amount of 2.500 euros or more in cash or it´s equivalent in any foreign currency during operations, in which any of the involved parties act in the name of a company or professional status.

If the payer is a private person non resident in Spain and not acting in the name of a company nor acting as a professional then the limit of amount is 15.000 euros or it´s equivalent in any foreign currency. This limit is not applicable when making payments and deposits into credit institutions. These rules regarding limitations of payments will come in force in 20 days after being published in BOE.

The remaining measures against fraud came into force on the 31st of October 2012, these meaning among other aspects some penalties will be tougher , introduction of some changes of the use of VAT in property transactions and the obligation to inform about assets and rights situated abroad (Bank accounts, Bonds, Real Estates, etc).

Francisco Verdún has achieved that the Tribunal Superior de Justicia de Madrid (Superior Court of Justice in Madrid)  overturned the decision of the Spanish Embassy in Iran in which an Iranian businessman was denied a visa for residence and a work permit. The Court has accepted the petition made by the lawyer Francisco Verdún and  has recognized the right of the Iranian businessman that already had purchased housing and a business on the Costa del Sol. The arguments of the Court can be presented before other Spanish Consulates.

Our firm VERDUN ABOGADOS was selected by the  Consejo General de la Abogacía Española and by the  Instituto de Comercio Exterior (Spanish Institute for Foreign Trade)  that depends on the Ministry of Industry to  participate in SPAIN FLORIDA LAW FIRMS FORUM  which took place in Miami (Nov 2-3, 2011) in collaboration with Dade County Bar Association  and in JORNADAS TECNICAS DE LA ABOGACIA MEXICO-ESPAÑA  which was held in México D.F. (June 25-27, 2012) in cooperation with Ilustre y Nacional Colegio de Abogados de México.  Both events were a great success.

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