Answer ... The Workers’ Statute is the main employment law in Spain. Nonetheless, the Spanish employment legal framework also includes a large number of national and regional regulations, collective bargaining agreements and criteria arising from relevant case law.
The labour issues that usually arise upon incorporation of fintech companies include:
- the most suitable types of employment contracts (including teleworking contracts);
- the applicable collective bargaining agreement, depending on the company’s main activity;
- the regulation of working hours;
- the applicable social security regime for key positions;
- post-contractual non-compete covenants; and
- minimum commitment agreements or golden parachutes in case of termination of the employment contract.
Answer ... Spanish fintech companies usually try to attract specialist talent by leveraging on the country’s general advantages: the Mediterranean lifestyle, an affordable cost of living, good flight connections, reputed business schools and tech clusters in big cities such as Barcelona and Madrid.
As most of these are start-up companies and cannot offer high salaries, they usually offer a package of flexible labour conditions (including teleworking and other benefits in kind). For key personnel, it is also common to grant stock options or other incentive plans.