The 'startups' law faces its last parliamentary process in Congress

MADRID, 1 Dic.

The 'startups' law faces its last parliamentary process in Congress


The Law for the promotion of the ecosystem of emerging companies, better known as the 'startup law', will face its last parliamentary process this Thursday in the Congress of Deputies with the voting of the amendments introduced last week by the Plenary of the Senate.

During its processing in the Upper House, several transactional amendments were introduced into the text, with which it must undergo a final procedure in the Plenary Session of Congress, despite the fact that the Government's intention was to approve it without changes in the Senate for it to enter into force. sooner.

The law will reach this final step with widespread support from parliamentary groups, including the PP and various opposition groups. In fact, the senator of the Popular Group, Pablo Pérez, highlighted the improvements around the attraction of talent and digital nomads that the text includes. An opinion similar to that of the deputy Víctor Píriz, also from the PP, who described the law as "necessary" so that the innovative sector in Spain can grow and deploy "much faster."

The document also reforms the tax system and will reduce corporate tax to 15% for four years for companies that acquire the status of 'startup', which must be accredited by the National Innovation Company (Enisa), for five years or seven in the case of biotechnology companies.

In addition, the regime for share options, a common form of remuneration in the sector, has also been reformed, and now they will only have to pay taxes at the time of sale of the titles. Along with these reforms, the tax-exempt investment threshold has also been raised and the commissions ('carried interest') of the managers will be considered as income from work.

In this last procedure, several transactional amendments have been included that add some terms to the text, while some aspects of the associated ministerial orders are modified to reinforce legal certainty and a new assumption is added to be able to deny the status of 'startup' to a company in which the partners "present risks". In addition, the text reduces the limitations to serial entrepreneurship.