Company Requirements
To be able to apply for this financing line, your company must meet the following requirements
- Be a society constituted with its own legal personality, as a capital company (SA, SL, SAL, SLL, etc.) or a cooperative registered in the Cooperative Registry.
- Have a registered office or permanent establishment in Spain.
- Have at least 60% of the workforce with an employment contract in Spain. In the case of cooperatives, worker members and working members whose relationship is of a corporate nature will count as part of the workforce.
- Have a company incorporation date of less than 5 years from the application date, or 7 years if belonging to the biotechnology, energy, industrial sectors, and sectors considered strategic.
- Not have arisen from a merger, split, transformation, concentration, or segregation operation, unless it comes from another startup.
- Companies from all sectors are eligible, except those that develop activities related to the management of movable or real estate assets or with the promotion or sale of real estate assets, unless they are companies with technological development for the improvement of the sector, or those that carry out an activity that causes significant harm to the environment according to the "do no significant harm" (DNSH) principle.
- Have an innovative business model that is highly scalable, preferably with a high technological component.
- Have an annual turnover or a balance sheet of less than 10 million euros.
- Not have distributed dividends or returns since its incorporation.
- Not be listed on a regulated market or belong to a business group with subsidiaries or parent companies listed on regulated markets.
- If the interested company belongs to a group of companies, the group or each of the companies that compose it must meet the previously described requirements.
- A group exists when a company holds or can hold, directly or indirectly, control over another or others. In particular, control will be presumed to exist when a company (which will be classified as dominant) is in relation to another company (which will be classified as dependent) in any of the following situations:
- a) Holds the majority of voting rights.
- b) Has the power to appoint or dismiss the majority of the members of the governing body.
- c) Can dispose, by virtue of agreements made with third parties, of the majority of voting rights.
- d) Has appointed with its votes the majority of the members of the governing body, who hold their position at the time the consolidated accounts must be prepared and during the two immediately preceding financial years. In particular, when the majority of the members of the governing body of the dependent company are members of the governing body or senior executives of the dominant company or another dependent on it. This situation will not lead to consolidation if the company whose directors have been appointed is linked to another in any of the cases provided in the first two letters.
- Any dominant company of a group of companies will be obliged to prepare the annual accounts and the consolidated management report in the manner provided in this section.
- A group exists when a company holds or can hold, directly or indirectly, control over another or others. In particular, control will be presumed to exist when a company (which will be classified as dominant) is in relation to another company (which will be classified as dependent) in any of the following situations:
