1. Is notarisation required and are fees payable? | Yes for all security. Not necessary but advisable for loans and guarantees. |
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2. Do the following securities / deeds require to be registered in the Local Property Register and what fees are payable? |
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2.1 Pledge over shares | No. |
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2.2 Pledge over bank accounts | No. |
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2.3 Pledge over receivables | No filing or registration is required if pledge is created as an ordinary pledge. Pledge without transfer of possession requires filing before registry of movable assets. |
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2.4 Mortgage | Mortgages must be filed before a land registry in order for them to be validly created. There is an official chart of fees for the registration or cancellation of each right or security. By way of example, for the creation of a mortgage over one land plot, fees would start on EUR 24.04 if the secured obligation were below EUR 6,010.12, and 0.2 times a thousand if the secured amount is over EUR 601,121.04. |
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2.5 Guarantees | No. |
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2.6 Subordination of claims | No. |
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3. Do the following securities / deeds require to be registered at the local Registrar of Movable Assets and what fees are payable? |
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3.1 Ordinary pledge over movable assets | No. |
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3.2 Pledge without transfer of possession over movable assets | Yes. There is an official chart of fees for the registration or cancellation of each right or security. By way of example, fees for the registration or cancellation of each right or security would start on EUR 2.4 and if the secured obligation is over EUR 18,000; they would amount to EUR 1.20 for each EUR 3,000. |
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3.3 Chattel mortgage | Yes. There is an official chart of fees for the registration or cancellation of each right or security. By way of example, fees for the registration or cancellation of each right or security would start on EUR 2.4 and if the secured obligation is over EUR 18,000; they would amount to EUR 1.20 for each EUR 3,000. |
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3.4 Chattel mortgage over intellectual property | Yes, and in the Spanish office of patents and trademarks. There is an official chart of fees for the registration or cancellation of each right or security. By way of example, fees for the registration or cancellation of each right or security would start on EUR 2.4 and if the secured obligation is over EUR 18,000; they would amount to EUR 1.20 for each EUR 3,000. |
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Please note that while the information on this page was current and accurate as at 19/9/16, it may no longer be current or accurate and so you must speak to your local CMS Banking contact if you require confirmation of any of the costs or fee levels as at today’s date!
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