Luis Socías Uribe, Executive Director of Invest in Madrid

Luis Socías is an expert in strategic planning with a focus on the Public Sector, industrial specialisation of different territories, economic development, business competitiveness and advice on attracting and executing investments. Until the beginning of August, he held the position of Deputy Director to the General and Corporate Secretary of CEOE, the Spanish Confederation of Business Organisations. From there, he managed the organisation’s corporate affairs, the coordination of European Union affairs – European funds, policies, legislation, etc. – and the development of strategic projects.

Also at the CEOE he has held the position of Head of the European Projects Office, leading the contact with companies and business organisations; the dialogue with the Autonomous Communities, the Government and the European Commission and the participation in the meetings of the social dialogue on the Recovery Plan. In addition to this experience, he has also worked as a strategic consultant at Deloitte.

This is, therefore, a profile of a markedly technical nature, with extensive experience in investment attraction strategies.

Foreign investment is key to the economy of any region and the Community of Madrid wants to give it a new impetus for this new term of office,” said the new Director. My objective is, based on the good work carried out to date, to continue making progress in order to position Madrid as a benchmark region in Europe in terms of digitalisation, sustainability and high-tech industry, as well as an increasingly attractive and open territory for private initiative and companies”.

Bio Luis Socías Uribe

Getxo (Vizcaya). Born 6 July 1992. Married, no children.

Graduate in Business Administration and Management and Graduate in Law from the University of Deusto and Management Training Programme from ESADE. He has various programmes at international universities related to business and public management (London School of Economics, Princeton University, etc.).

He began his professional career in strategic consulting at Deloitte, specialising in strategic planning with a focus on the Public Sector, industrial specialisation in different territories, economic development and business competitiveness (digitalisation, talent, tourism, etc.) and advice on attracting and executing investments (tax analysis, administrative procedures, tax incentives, etc.). He participated in different projects in international teams (UK, Netherlands, etc.) and with European institutions.

In August 2020 he joined the CEOE team as Head of the European Projects Office, leading the contact with companies and business organisations; the dialogue with the Autonomous Communities, the Government and the European Commission; and the participation in the social dialogue meetings on the Recovery Plan.

Since January 2023 he has held the position of Deputy Director to the General and Corporate Secretary of the same organisation, being responsible for corporate management (organisation, IT and people), coordination of European Union affairs (European funds, policies, legislation, etc.) and the development of strategic projects.

He teaches different training programmes related to European funds and investment deployment and execution in different business schools and participates as an expert in a large number of conferences and seminars related to this subject. He has also been Senior Advisor to Oliver Wyman’s Next Generation funds.

He speaks English, French and Basque.

See Luis Socías Uribe’s institutional agenda

Cemex Incorporates Two New Quarries into Its Aggregate Operations in the Central Zone

Two new quarries are now part of CEMEX’s assets in its aggregate division in the Community of Madrid. With these acquisitions, the company enhances its aggregate offerings in the central zone, an area of significant development within the country and a key growth focus for CEMEX in the European region. Currently, Madrid and its surroundings are undergoing extensive urban expansion, with numerous infrastructure and building projects already underway or set to begin in the coming months, reshaping the city’s landscape permanently.

The two quarries, Valdilecha and Valdecubillos, are located in the towns of Valdilecha and Perales de Tajuña, both within the Community of Madrid. These quarries hold substantial reserves of limestone, which will enable CEMEX to provide better, faster, and higher-quality service to clients involved in ongoing and future projects within this geographical area.

This significant transaction, facilitated with the notable collaboration of Invest in Madrid, the office of the Ministry of Economy, Finance, and Employment for attracting foreign investment to the Community of Madrid, includes facilities, equipment, and machinery for operation, as well as mining permits to carry it out. The entire workforce operating these plants has been integrated into CEMEX Spain Operations.

Invest in Madrid has worked to facilitate contacts and follow necessary procedures to extend the exploitation license for both quarries, aiming to sustain activity and employment in the region. “Our role,” emphasizes Luis Socías, Director of Invest in Madrid, “is to act as an intermediary between companies established in the Community of Madrid and the entities on which their activity depends, to encourage the presence of foreign companies in the Community and prevent relocation and the resulting job loss.” In this case, coordination with the Directorate General of Industrial Promotion of the Ministry of Economy, Finance, and Employment has been crucial in expediting the procedures for obtaining the extension of exploitation permits.

This transaction also encompasses collaboration in managing a waste treatment plant operated by a specialized company. This installation will allow CEMEX to continue promoting circular economy principles in its business, a central aspect of its sustainability strategy, “Futuro en Acción” (Future in Action). The synergies created by this waste treatment plant, in conjunction with the Valdilecha Quarry, align with the goals of “Regenera,” a key business area for CEMEX prioritizing natural resource conservation, recycling, and reuse.

Within this transaction, a ready-mix concrete plant in Vicálvaro is also included, adding to CEMEX’s concrete assets in the area and allowing for increased and improved service and offerings to customers in the central zone.

Recently, with the same aim of meeting emerging needs in Madrid and its surroundings, CEMEX acquired a mortars plant in Ciempozuelos, which has been fully integrated since last May.

With this latest operation, CEMEX is now equipped to offer the most comprehensive portfolio of sustainable construction materials in the capital’s vicinity, including a diverse range of products such as low CO2 emission cements and concretes (Vertua), mortars, aggregates, and additives.

Madrid and its surroundings are host to numerous projects underway or about to commence, such as Madrid Nuevo Norte, Spain’s largest real estate and urban planning endeavor and one of the largest in Europe. This project will transform the city’s landscape, encompassing the renovation of the Chamartín Station, La Paz Hospital, construction of new metro lines, tunnels, bypasses, roads, over 10,500 housing units and offices, in addition to urban parks and other social services and infrastructure. The new City of Justice, along with new Urban Action Plans in Tres Cantos, Torrejón de Ardoz, Valdebebas, Berrocales, Valdecarros, and Campamento, among others, can be more swiftly and efficiently served from the newly incorporated quarries and facilities in CEMEX’s assets, maintaining the same high standards of quality, safety, and service as always.

About CEMEX

CEMEX is a global building materials company dedicated to creating a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through constant innovation and leadership in research and development within the industry. CEMEX is at the forefront of the circular economy in the construction value chain, promoting innovative processes using advanced technologies to increase the use of waste and byproducts as raw materials and alternative fuels in its operations. CEMEX offers cement, ready-mix concrete, aggregates, and urban solutions in rapidly growing markets around the world, powered by a multinational workforce focused on delivering a superior customer experience enabled by digital technologies. CEMEX R&D, Innovation, and Business Development projects are part of the global collaboration network in R&D, led by CEMEX Research Centers, headquartered in Switzerland. For more information, please visit www.cemex.com.

Certification Process for Startups to Access Tax Benefits Now Open

Spain is the first European country to implement a certification system for accrediting emerging companies, better known as startups. Months after the approval of the startup law that regulates, among other things, the tax benefits these companies will enjoy, the certification procedure for these companies has been approved, along with the requirements they must meet to be considered emerging.

The certificate of emerging company is essential to access the tax incentives established in the law. The requirements imposed on companies mainly focus on the company’s age (or novelty), its innovative nature, and the scalability of its business. The request for this certificate must be made to the National Innovation Company, ENISA, under the Ministry of Industry, Commerce, and Tourism. The window for doing so has been open since the end of July through this link. Once registered, ENISA will have a maximum of three months to resolve and, if approved, notify the emerging nature of the company.

What tax benefits will a certified emerging company have access to?

Among the various tax benefits that a declared emerging company can access are:

  • Taxation at 15% in corporate income tax during the first four years, as long as the emerging condition is maintained during that period.
  • Improvements in the tax treatment of stock options. This is a common salary supplement in this type of companies, as employees are compensated with company stocks or shares.
  • Previously, employees were exempt from declaring the first €12,000 generated from their stock options over a year. Now, this amount has been increased to €50,000.
  • Specific tax treatment for carried interest, the interest earned by Venture Capital or Business Angels. This benefit is now classified as labor income, becoming integrable at 50% without a quantitative limit.
  • Deferral of payment of tax debts during the first two years of activity.

What constitutes an emerging company?

Companies seeking the ENISA certificate of emerging company must meet the following requirements:

  • They must be newly created or no more than five years have passed since their registration in the commercial registry. This period is extended to seven years for companies in biotechnology, energy, industrial, and certain strategic sectors, as well as those that have developed technology exclusively designed in Spain.
  • Their revenue must not exceed €10 million, and no dividends or returns have been distributed, in the case of cooperatives.
  • The company must not have arisen from a split, merger, or transformation of other non-emerging companies.
  • 60% of the workforce must have a labor contract in Spain.
  • The scalable nature of the business must be detailed.
  • The project must be considered innovative. To meet this, one of the following conditions is required:
  • For the last two years, at least 15% of the total expenses of the company have been allocated to research, development, and technological innovation. For companies less than two years old, this will be calculated based on the last financial year.
  • At some point in the last three years, the company has benefited from investment, financing, or public aid for the development of R&D+i projects, provided that these aids have not been revoked due to poor execution.
  • The company must have a favorable opinion as an innovative company from certain public bodies, such as the Ministry of Science and Innovation through the Innovative SME Seal, or an explicit report on its degree of innovation. Certain certifications issued by Aenor are also considered.

If none of these requirements are met, ENISA will evaluate the innovative nature of the company, considering whether there is technological innovation in its products, processes, services, or business models.

In addition to these tax benefits, the startup law introduced an array of measures to promote entrepreneurship, talent retention, and foreign investment. Notably, it practically eliminated bureaucracy for international investors, who now only need to request a tax identification number (NIF) to initiate their investment activity. This procedure can be completed electronically and within 10 business days.

The Startup Law Aims to Attract Foreign Investment

One of the goals of the startup law approved at the end of last year is the attraction of foreign talent and investment. The new regulation aims to facilitate the entry into Spain of different international profiles with high digital skills. Digital nomads, remote workers, investors, and foreign employees have their own provisions in this law, which seeks to increase investment in startups and turn these companies into engines of modernizing the Spanish economy.

The regulation includes bureaucratic and tax improvements for the creation and investment in these types of companies, also extending the validity of residency permits to retain international talent.

 

Bureaucratic Improvements

Thanks to the law, foreign investors no longer need the Foreigner Identification Number; it will suffice to have the Tax Identification Number required for any company registration. This Tax ID will be required for both individuals and legal entities, and it will be obtained electronically through the Tax Agency, which must resolve it within ten business days.

 

Tax Improvements

The tax benefits applied to declared emergent companies will also apply to foreign investors who decide to create a startup in Spain. Thus, the corporate tax rate is set at 15% during the first four years, as long as the company maintains its emergent status during this period.

In addition, there is the special regime for impatriates, in force since 2004. According to this regulation, known as the “Beckham Law,” any employee working in Spain will annually pay the Non-Resident Income Tax (IRNR), which has a lower tax rate than the Personal Income Tax (IRPF): 24% for the first 600,000 euros generated. The Startup Law makes the conditions to qualify for this regime more flexible and broadens them. Previously, it was necessary not to have been a tax resident in Spain in the last ten years, now five years are sufficient.

The law also includes more incentives for initial investment in startups. Those known as Business Angels will enjoy the advantages that apply to founding partners of a company: the deduction percentage for share subscription in the investor’s IRPF increases from 30% to 50%, and the maximum deduction base increases from 60,000 to 100,000 euros. All of this, as long as the equity does not exceed 400,000 euros and the shares are acquired within the company’s first five years, maintaining them for three to twelve years.

 

Residency Permits

The regulation extends the duration of the initial residence authorization from one to three years for investors and entrepreneurs who start an economic activity in Spain; from one to two years for students in internships seeking employment or wanting to undertake after finishing their studies; and three years (or the duration of the contract) for highly skilled foreign professionals coming to work in a country’s company. This permit is extendable to five years, after which permanent residency can be applied for.

Furthermore, in addition to all this, the startup law introduces the creation of a specific visa for digital nomads, aiming to attract and retain highly specialized employed and self-employed professionals. Through this mechanism, residency permits in our country are extended, with a visa for one year plus three years of residence. Until now, these professionals could only stay in our country for a maximum of three months allowed by the tourist visa.

Madrid South Summit Warm-Up Event

Invest in Madrid, a leading organization dedicated to promoting investment and business opportunities in Madrid, is gearing up to host the highly anticipated Madrid South Summit Warm-Up Event. As a prelude to the renowned South Summit, this exclusive event aims to foster entrepreneurship, connect innovators, and showcase the vibrant startup ecosystem of Madrid.

The Madrid South Summit Warm-Up Event will take place on JUNE 6TH  at Invest in Madrid premises, bringing together a diverse community of investors, entrepreneurs, industry experts, and startup enthusiasts. With a dynamic agenda packed with insightful discussions, networking opportunities, and interactive sessions, attendees can expect to gain valuable insights and establish meaningful connections within the startup ecosystem.

Agenda:

  • 19:00 – 19:05. Opening Remarks. Manuel Llamas Fraga. Deputy Minister of Economy. Community of Madrid (TBC)
  • 19:05 – 19:20. Why should Madrid be the next step for scaling up? Diego de Arístegui, Project Director. Invest in Madrid.
  • 19:20  – 19:35. Madrid Innovation Ecosystem: Funding, Stakeholders, and Talent. Fidel Rodríguez Batalla, Deputy Minister of Universities, Science and Innovation.
  • 19:35 – 19:40. Q&A
  • 19:40 – 21:00. Networking

Attendees will have the opportunity to network and forge valuable connections.

Invest in Madrid, the organizing entity behind this event, will also have a dedicated booth in South Summit to provide attendees with information about the various support services and resources available for startups and investors looking to establish or expand their presence in Madrid.

“We are thrilled to organize the Madrid South Summit Warm-Up Event, which serves as a platform to highlight the entrepreneurial spirit and innovation that defines Madrid’s startup ecosystem,” said Rodrigo De la Mota, Executive Director at Invest in Madrid. “We believe that this event will inspire and empower entrepreneurs, while fostering collaboration and investment opportunities in our region.”

With its vibrant startup community, strategic location, and supportive business environment, Madrid has become a thriving hub for entrepreneurship and innovation. The Madrid South Summit Warm-Up Event serves as a testament to the regions’s commitment to nurturing startups, attracting investors, and driving economic growth through innovation.

About Invest in Madrid: Invest in Madrid is a leading organization dedicated to promoting the Region of Madrid as a premier investment destination. They provide comprehensive support and assistance to international businesses looking to establish or expand their operations in Madrid, fostering economic growth and development in the region.

Invest in Madrid is the office created by the Regional Ministry of Economy, Finance and Employment to attract foreign investment to Madrid Region.

We provide services to entrepreneurs and investors who want to establish or expand their business in the capital of Spain or any of the 179 municipalities in Madrid Region, accompanying them throughout the project’s life cycle.

COMMITMENT TO ETHICAL AND RESPONSIBLE CONDUCT

The foreign investor expresses their utmost will and commitment to ethical, responsible and sustainable conduct, as well as due compliance to the regulations applicable to all their activities and operations. In this sense, they commit to duly complying with the regulatory framework that applies to them, as well as implementing ethical, responsible and crime-preventing procedures and/or policy measures.

Said commitment requires the investor to formally transmit this ethical and responsible conduct duty to all those involved and/or all participants in their business area and/or project in Invest In Madrid; specifically, to all employees, executives, collaborators, providers, clients and, in general, any person or entity related to them.

As a way to facilitate follow-up and implementation of said commitment, Invest In Madrid has developed conduct guidelines and guides for the appropriate follow-up and implementation of the aforementioned commitment. As a result, a corporate Code of Ethics was developed. It establishes the principles and values of ethical and responsible conduct, along with the rights, duties and responsibilities in terms of regulatory compliance of Invest In Madrid to all the people involved in this project.

Thus, the investor declares they have access to the aforementioned Code of Ethics, which they are aware of and voluntarily assume, for the purposes of applying the commitments and obligations included therein. In this sense, the investor commits to always acting with due diligence, in the interest of guaranteeing regulatory compliance, and, in particular, of preventing corporate criminal liability that could arise from their conduct.

Likewise, the investor commits to responding to the veracity of the data included on the platform and to the correct use of the information, professional services and tools provided by Invest In Madrid, in any moment from the start, set-up and subsequent expansion of the business.

Finally, as a guarantee of the exact and appropriate application of our ethical and responsible commitment, the investor assumes the responsibility of communicating to Invest In Madrid any indication, suspicion or evidence of possible regulatory non-compliance, crimes, unethical conduct and, in general, actions or conduct that run counter to the entity’s protocols, regulations and codes of conduct, included in the aforementioned Code of Ethics; through the Internal Information System provided for that purpose. All this with the guarantees and requirements of confidentiality, data protection, independence and protection of the informant established by the regulatory framework applicable to said System.

Invest In Madrid appreciates your support and collaboration with our commitment to ethics and regulatory compliance, as a mechanism for detecting any irregularities and aligning your responsible conduct with the fundamental values and principles that underly the ethical culture of our entity.

Data controller information

Identity: FUNDACIÓN MADRID POR LA COMPETITIVIDAD (CIF G84442755)
Address: Calle Velázquez, 53, 28001, Madrid
Phone: 91 220 28 00
E-mail: protecciondatos@fundacionmadrid.org

— Purposes of the processing

FUNDACIÓN MADRID POR LA COMPETITIVIDAD will process the information provided to us by interested persons for the following purposes:

  • To handle applications and documents from companies applying for the “Madrid Excelente” seal, as well as applications and documents related to other FUNDACIÓN MADRID POR LA COMPETITIVIDAD activities (Madrid Excelente Awards for Customer Trust, among others).
  • To handle any type of request, suggestion or question about our services from the individuals concerned.
  • For commercial communications: Processing your data for the purpose of informing you about activities, articles of interest and general information about our services via email.
  • For invitations to events and conferences: for the purpose of granting access to events and conferences organised by FUNDACIÓN MADRID POR LA COMPETITIVIDAD.
  • To promote events and conferences on social media: for the purpose of publicising the content of the events and conferences organised by FUNDACIÓN MADRID POR LA COMPETITIVIDAD. Said promotion includes both static and dynamic images.
  • To manage information provided by candidates for job positions through their Curriculum Vitae (CV), for the purpose of the selection and recruitment process. You expressly authorise FUNDACIÓN MADRID POR LA COMPETITIVIDAD to process your data for the stated purpose, allowing them to publish your name and surname(s), as well as qualifications obtained, if the organisation’s website deems it necessary.

 

FUNDACIÓN MADRID POR LA COMPETITIVIDAD will treat the data and information provided for the selection processes with the strictest confidentiality, adopting the technical and organisational measures necessary in order to avoid loss, incorrect use, alteration and/or unauthorised access. Data retention: Furthermore, we inform you that FUNDACIÓN MADRID POR LA COMPETITIVIDAD may store your Curriculum Vitae for a maximum period of one year. After that time, it will automatically be removed.

— Data retention criteria

  • Management of Curriculum Vitae: FUNDACIÓN MADRID POR LA COMPETITIVIDAD may store your Curriculum Vitae for a maximum period of one year. After that time, it will automatically be removed, pursuant to the data quality principle.
  • For commercial communications: Any person can unsubscribe from these communications at the following email address: protecciondatos@fundacionmadrid.org
  • The rest of the data and information shall be kept for as long as necessary to fulfil the purpose for which they were collected.

— Legitimation

The legal basis for the data processing is the consent of the individuals concerned to:

  • Processing and management of any request for information or questions about our services.
  • The sending of commercial communications by FUNDACIÓN MADRID POR LA COMPETITIVIDAD.
  • The sending of invitations to conferences and events organised by FUNDACIÓN MADRID POR LA COMPETITIVIDAD, as well as attendance control of said conferences and events.
  • The sending of your curriculum vitae.

— Recipients

Personal data is not disclosed to third parties, unless legally required to do so. International data transfers to third countries are not carried out either.

— Source

Personal data is obtained directly from the individuals concerned and our collaborators. The personal data categories that our collaborators provide us are the following:

  • Identification data.
  • Addresses or email addresses.
  • Images.
  • No sensitive data is processed.

— Rights

Right of Access, Rectification and Erasure: The individuals concerned have the right to obtain confirmation about whether FUNDACIÓN MADRID POR LA COMPETITIVIDAD is processing personal data that may concern them or not. The individuals concerned have the right to access their personal data as well as to request the rectification of inaccurate data, or, if applicable, to request their erasure when, among other reasons, they are no longer needed for the purposes they were collected.

 

Right to Restriction: In certain situations, the individuals concerned might request restricted processing of their data; in such cases, we shall only store them to make or defend claims. In certain circumstances, and for reasons related to their specific situation, the individuals concerned may object to the processing of their personal data. FUNDACIÓN MADRID POR LA COMPETITIVIDAD will stop processing the data in this case, except for compelling legitimate reasons, or to make or defend possible claims.

 

These rights may be exercised at www.corporate-line.com/cnormativo-madrid-competitividad.

– Updates and modifications

FUNDACIÓN MADRID POR LA COMPETITIVIDAD reserves the right to modify and/or update data protection information when necessary, in order to comply with the Data Protection Regulations. If any modifications are made, the new text shall be posted on this page, where you shall have access to the updated policy. In all cases, the relationship with users will be governed by the regulations established at the precise moment the website is accessed.

This legal disclaimer contains the conditions that govern use and access of the websites https://investinmadrid.com/ and www.fundacionmadrid.org, (hereafter the website) and the responsibilities arising from its use.

Fundación Madrid por la Competitividad understands that website access and navigation on the part of the user implies that they accept all the conditions published by Fundación Madrid por la Competitividad on the website at that time.

The FMC is a Madrid Region non-profit organisation, under the Ministry of Economy, Finance and Employment. Its objective is to improve business competitiveness. It consists of the organisations Madrid Excelente and Invest in Madrid.

 

— PURPOSE

The purpose of this site is to provide information on FMC’s activities.

 

— INTELLECTUAL AND INDUSTRIAL PROPERTY RIGHTS

The contents of the website (text and photographs) are owned by FMC. The rest of the features, buttons, software files, colour combinations, as well as the structure, selection, organisation and presentation of the contents are owned by ‘wordpress’ and are protected by Spanish and international Intellectual and Industrial property laws.

Under no circumstances does accessing this website imply any type of total or partial waiver, transmission or transfer of the rights granted by Spanish and international legislation on Intellectual and Industrial property.

Reproduction (except for temporary downloads from the website to the hard drive of the user’s computer or to proxy servers), copying, use, distribution, reuse, exploitation, making of second copies, sending by mail, transmission, modification, transfer or any other act that is done with all or part of the information contained on this website that has not been expressly authorised by the owner is prohibited. Disseminating images is only permitted with explicit reference to their creators (FMC).

The user under­takes to use the contents in a diligent, correct and lawful manner and, in particular, undertakes to refrain from deleting, evading or manipulating the copyright and other data identifying the rights of FMC or its owners incorporated into the contents, as well as the technical protection devices or any information mechanisms that may be included in the contents. Moreover, the user will abstain from using the contents, and, in particular, any type of information obtained through the site to send advertising, communications for the purpose of direct sale, or unsolicited messages to a large number of people regardless their purpose, as well as refraining from marketing or distributing said information in any manner.

 

— ACCESS

Users may access the site freely and free of charge.

 

— RESPONSIBILITY AND OBLIGATIONS

RESPONSIBILITY FOR THE CONTENT

The content of this website is of a general nature, with an exclusively informative purpose and effects of FMC’s activities and services.

FMC disclaims any liability for any decision taken by the user of the website as a result of the information contained therein, especially in regard to the technical features of the cables.

FMC accepts no responsibility for any information not created by FMC or not published under its name in an authorised manner, as well as any responsibility arising from the misuse of the contents. FMC also reserves the right to update, eliminate, limit or prevent access to the contents, either temporarily or permanently.

 

RESPONSIBILITY IN THE EVENT THAT THIS PAGE IS THE DESTINATION OF A LINK FROM A DIFFERENT PAGE

As regards links established by other pages to this site as well as if any user, entity or Web page wishes to establish any type of link to the FMC website, they must comply with the following conditions:

– They must seek permission before setting up the link and the granting of such permission must be expressly stated.

– Only the home page may be linked to.

– The link must be absolute and complete, meaning that it must direct the user to FMC’s web address and it must fully cover the entire extension of the screen of the home page.

– No erroneous or incorrect indications shall be provided with regard to the FMC page.

– Written authorisation is required in order to display any distinctive sign of FMC, such as trademarks, logos or name.

– The Owner of the website posting the link must be acting in good faith and not set out to harm the reputation or good name of FMC.

– It is forbidden, unless expressly authorised by FMC, to register the text elements of the trademark or logo, the domain name or the name fundacionmadrid.org as a keyword (metatags or metanames) for websites searches performed through search engines.

FMC declines any type of responsibility for any aspect relating to the pages that post the link. The establishment of a link does not imply the existence of any type of relationship, collaboration or dependency between FMC and the owner of that web page.

 

RESPONSIBILITY FOR TECHNICAL ASPECTS

FMC does not guarantee the continuity of the operation of the website, nor does it guarantee that the website will be operative and available at all times.

FMC accepts no liability for direct or indirect damages, including damage to computer systems and the introduction of Internet viruses, arising from the Internet browsing necessary for the use of this website.

 

OBLIGATION OF USERS

The user shall be liable for any damages that FMC may suffer as a consequence of noncompliance with any of the obligations determined in this legal disclaimer.

With regard to browsing, the user undertakes to diligently and faithfully observe the recommendations that FMC establishes at any given time in relation to the use of the site. For these purposes FMC shall address users by any means of communication through the website.

 

— DURATION AND MODIFICATION

FMC shall have the right to unilaterally modify the terms and conditions stipulated herein, in whole or in part. Any changes will appear in the same way as they appear in this legal disclaimer.

The duration of the validity of this legal disclaimer therefore coincides with the time of its display, until the time it is totally or partially modified by FMC.

FMC may unilaterally terminate, suspend or interrupt the operation of this website, with the user having no possibility to request compensation. Following said termination, the user must destroy any information about FMC that they own in any format and have obtained through the site or through the communications made individually to the user by it.

 

— LEGISLATION AND JURISDICTION

These terms of use are governed by Spanish law.

Users and FMC, expressly waiving their own jurisdiction, shall submit all interpretations or conflicts which may arise from this legal disclaimer to the Courts and Tribunals of Madrid.

COMMITMENT TO ETHICAL CONDUCT AND PROFESSIONAL RESPONSIBILITY

The local partner expresses their utmost will and commitment to ethical, responsible and sustainable conduct, as well as due compliance to the regulations applicable to all the activities and operations they contribute to Invest In Madrid. In this sense, they commit to duly complying with the regulatory framework that applies to them in the services and activities published on the web page, as well as implementing ethical, responsible and crime-preventing procedures and/or policy measures.

As a way to facilitate follow-up and implementation of this commitment, Invest In Madrid has developed conduct guidelines and guides for the appropriate follow-up and implementation of the aforementioned commitment. As a result, a corporate Code of Ethics was developed. It establishes the principles and values of ethical and responsible conduct, along with the rights, duties and responsibilities in terms of regulatory compliance of Invest In Madrid and its collaborating partners.

This is the framework of ethical and responsible conduct that all local partners have the duty to apply and formally transmit to all those involved and/or all participants in the area of the provision of services provided to Invest In Madrid (employees, executives, collaborators, providers, clients and, in general, any related person or entity). Thus, the local partner declares they are aware of and voluntarily assume the aforementioned Code of Ethics, for the purposes of applying the commitments and obligations included therein.

Likewise, the local partner accepts that they have the technical capacity, guarantees and experience needed to offer the investors the services included in the area of Invest In Madrid, with the necessary technical, legal and organisational requisites and high quality and safety standards. Therefore, the local partner commits to always acting with due professional diligence, in the interest of guaranteeing regulatory compliance, and, in particular, of preventing corporate criminal liability that could arise from their conduct. Likewise, the local partner is responsible for the veracity, accuracy, validity and authenticity of the information included in the form and/or provided through any other means.

Finally, as a guarantee of the exact and appropriate application of our ethical and responsible commitment, the local partner assumes the responsibility of communicating to Invest In Madrid any indication, suspicion or evidence of possible regulatory non-compliance, crimes, unethical conduct and, in general, actions or conduct that run counter to the entity’s protocols, regulations and codes of conduct, included in the aforementioned Code of Ethics; through the Internal Information System provided for that purpose. All this with the guarantees and requirements of confidentiality, data protection, independence and protection of the informant established by the regulatory framework applicable to said System.

Invest In Madrid appreciates your support and collaboration with our commitment to ethics and regulatory compliance, as a mechanism for detecting any irregularities and aligning your responsible conduct with the fundamental values and principles that underly the ethical culture of our entity.

Map