Best Funds & Asset Management Lawyers in Maspalomas

1. About Funds & Asset Management Law in Maspalomas, Spain

Maspalomas residents operate under Spain’s national framework for funds and asset management, plus European Union rules. The key regulators are the Spanish securities market authority and the tax authorities. In practice, this means fund managers, investment funds and distributors must comply with formal authorisations, ongoing supervision and investor protection requirements.

Locally, the Canary Islands share the same national rules as the rest of Spain, but investors should be aware of the Canary Islands tax regime, including the IGIC indirect tax, which can influence fund costs and conversions for residents. Errors in designation of funds, mis-selling risks, or improper fee disclosures are common triggers for regulatory scrutiny. A qualified lawyer helps navigate these complexities and align investments with your objectives and regulatory obligations.

2. Why You May Need a Lawyer

In Maspalomas, practical needs often arise from real world scenarios that require legal guidance. A lawyer who specialises in Funds & Asset Management can help you avoid costly mistakes and ensure regulatory compliance.

• You are forming a local investment vehicle to pool Canary Islands real estate assets and need the fund structure, manager authorisation and compliance plan checked by an expert.
• You already hold a fund investment and receive communications that seem inaccurate or opaque about fees, performance and risk disclosures and you want a professional assessment.
• Your business plans involve distributing a UCITS or alternative investment fund to residents in the Canaries and you require regulatory approval steps and advertising controls.
• You are considering transferring assets into a separate vehicle and need guidance on the legal formalities, tax implications and cross border considerations for Maspalomas clients.
• You suspect a potential mis-selling or breach of MiFID/UCITS disclosure rules and want evidence, risk analysis and remedies prepared by counsel.
• You operate a local trust or asset protection structure and require clear, enforceable contracts, custodian arrangements and governance documentation.

3. Local Laws Overview

Spain relies on both national statutes and EU regulations to govern funds and asset management. The following laws and rules are particularly relevant for Maspalomas residents and fund professionals operating in the Canary Islands.

• Ley 35/2003, de Instituciones de Inversión Colectiva - This law provides the framework for collective investment institutions and the activities of fund managers. It covers licensing, governance, disclosure and investor protection. Effective since 4 November 2003, with ongoing amendments to address market developments.
• Ley 24/1988, de Mercado de Valores - This statute governs the issuance, trading and supervision of securities, including investment funds and distributors. It has been updated repeatedly to reflect contemporary market practices and protections for investors.
• Reglamento (UE) 2019/2088, SFDR - The Sustainable Finance Disclosure Regulation requires disclosures on sustainability risks and adverse impacts of investments. It has applied in Spain since 2021 and affects how funds report to investors and regulators.

In addition, the European UCITS Directive (Directive 2009/65/EC) forms the baseline for many Spanish funds, and Spain implements UCITS rules through national regulations and CNMV guidance. This EU framework shapes fund marketing, risk controls and liquidity management in Maspalomas.

Regulation (EU) 2019/2088 on sustainability disclosures in the financial services sector requires investment funds to disclose sustainability risks and impacts to investors.

The Ley 24/1988 de Mercado de Valores governs the public offering and trading of securities, including funds and fund managers, with updates to reflect market practice.

The CNMV supervises the activity of investment funds and the entities that manage them, ensuring compliance with applicable law and investor protection standards.

4. Frequently Asked Questions

The questions below cover practical and procedural topics from basic to more advanced, using Maspalomas as the context.

What is a fondo de inversión and how does it work?

A fondo de inversión pools money from investors into a diversified portfolio managed by a fund manager. It trades under Spanish law and EU rules to offer diversification and professional management.

How do I start the process to hire a funds and asset management lawyer in Maspalomas?

Clarify your goals, search for specialists with Canary Islands experience, check regulatory credentials and schedule an initial consultation. Request a written engagement letter and fee estimate before starting.

What is the role of the entidad gestora in Spain?

The entidad gestora is the registered firm responsible for administering investment funds, including compliance, reporting and day to day management under CNMV supervision.

How much does hiring a funds and asset management lawyer cost in Maspalomas?

Costs vary by complexity, seniority and hours. Expect an initial advisory fee for scoping, followed by hourly or fixed monthly arrangements for ongoing matters.

How long does it take to obtain regulatory approval for a new fund in Spain?

Authorization timelines depend on fund type and completeness of submission. Typical processes may take several weeks to a few months after filing a complete application.

Do I need a local lawyer in Maspalomas or can I hire someone from elsewhere in Spain or abroad?

A local specialist familiar with Canary Islands practice can help with tax specifics and local distributors, but you can engage counsel from elsewhere for specific issues.

What documents are usually required to open or register a fund in Spain?

Common documents include a fund prospectus, governance charter, appointment of the gestor and custodian, financial statements, and disclosure materials in Spanish.

What's the difference between a UCITS fund and an alternative investment fund in Spain?

UCITS funds focus on liquidity and regulatory standardisation for retail investors. Alternative investment funds often target sophisticated investors and have more flexible risk parameters.

Can a non resident invest in funds in Maspalomas, and are there tax implications?

Non residents can invest, subject to Spanish tax rules and any applicable double taxation agreements. Seek counsel to understand withholding taxes and reporting obligations.

Should I consider tax implications in the Canary Islands for my fund investments?

Yes. The IGIC in the Canary Islands and national tax rules affect fund income, distributions and capital gains. A tax advisor or lawyer can tailor guidance to your situation.

Do I need a Spanish tax identification number (NIF) for fund investments?

Investors often require a NIF or NIE for legal entities and certain residency scenarios. Your lawyer can confirm the exact identification needs for your case.

5. Additional Resources

Use these official resources for authoritative information and updates on Funds & Asset Management in Spain.

• Comisión Nacional del Mercado de Valores (CNMV) - Spain's securities market regulator. It oversees funds, gestores de carteras and advertising of investment products. https://www.cnmv.es
• Agencia Estatal de Administración Tributaria (AEAT) - Spanish tax authority providing guidance on taxation of investments, fund distributions and non resident taxation. https://www.agenciatributaria.gob.es
• Boletín Oficial del Estado (BOE) - Official state gazette publishing laws and regulatory updates that affect funds and markets. https://www.boe.es

6. Next Steps

1. Define your objective and asset scope for Maspalomas based investments. Note whether you need a local fund, cross border distribution, or asset management advice.
2. Identify at least three funds and asset management lawyers in Gran Canaria with demonstrated experience in fund formation and CNMV supervision. Check client reviews and regulatory registrations.
3. Request written proposals with scope of work, deliverables, timelines and fee structures. Compare fixed fees versus hourly rates and retainers.
4. Prepare a concise brief for the lawyer, including background on your assets, intended fund type, and target investors in the Canary Islands.
5. Hold initial consultations to assess regulatory approach, governance, and investor disclosures. Ensure language capabilities match your needs.
6. Verify regulatory compliance in advance by asking for a checklist covering CNMV authorisation, advertising standards and UCITS/SFDR disclosures.
7. Engage a lawyer with a clear engagement letter, defined milestones and a practical timeline for funding, approvals and ongoing management.