Best Structured Finance Lawyers in Maspalomas

1. About Structured Finance Law in Maspalomas, Spain

Structured finance in Maspalomas, Spain, is built on Spanish corporate and civil law aligned with European Union securitisation rules. In practice, deals commonly use Special Purpose Vehicles (SPVs) to isolate assets and transfers risk away from originators. This framework is applied to financing for real estate, hospitality projects, and receivables portfolios in the Canary Islands, including Maspalomas and surrounding tourist hubs.

The legal landscape is shaped by EU securitisation regulation and Spanish national statutes. Spanish lawyers often coordinate with regulatory bodies to ensure compliance with risk retention, transparency, and investor protection requirements. Local advisers also consider Canary Islands tax and corporate incentives when structuring SPVs or securitisation funds.

“Securitisation Regulation provides a uniform framework across the EU for securitisation transactions including eligibility, transparency and risk retention requirements.”

Because Maspalomas sits within the Canary Islands, practitioners may also assess regional tax regimes such as the Zona Especial Canaria where eligible entities may receive tax benefits. Although regulatory oversight is national and EU-wide, local specialists tailor structures to the Canary Islands context and market practices.

In short, structured finance in Maspalomas relies on national and EU rules, with local counsel ensuring that deals reflect regional realities in real estate, tourism receivables, and cross-border investment flows.

2. Why You May Need a Lawyer

Structured finance involves complex regulatory and contractual frameworks. In Maspalomas, a local abogado (lawyer) helps navigate these specifics with concrete, real-world scenarios.

• Hospitality asset securitisation in Maspalomas: A hotel group wants to securitise a portfolio of future room receivables to raise working capital while maintaining regulatory compliance and consumer protections.
• Hotel project refinancing through an SPV: A developer intends to transfer hotel loans to an SPV for securitisation to fund a new resort development near Playa del Inglés, requiring due diligence and risk retention planning.
• Cross-border investor participation in Canary Islands securitisations: An EU-based fund seeks to buy notes backed by Canary Islands tourism receivables, needing cross-border tax and regulatory coordination with CNMV and the Bank of Spain.
• Securitisation of rent or service income for an island estate: A Maspalomas real estate owner securitises rental income from multiple units, necessitating asset transfer, securitisation accounting, and consumer protection considerations.
• Regulatory-compliant due diligence for asset pools: A financial sponsor wants to confirm asset quality, legal ownership, and enforceability of receivables before securitisation, reducing sovereign and counterparty risk.
• Post-pandemic debt restructuring via securitisation: A local group restructures debt through securitisation to improve liquidity while staying compliant with EU risk retention and disclosure rules.

3. Local Laws Overview

Spain applies EU securitisation rules directly and through national laws, with local considerations for the Canary Islands. The following laws and regulations are particularly relevant for structured finance in Maspalomas.

• Ley 5/2015, de 12 de marzo, de fomento de la financiación empresarial - This national statute promotes access to financing for Spanish businesses, including mechanisms that touch securitisation markets and SPVs. It is enforceable from its publication date and has been complemented by subsequent regulatory updates to align with EU securitisation standards.
• Reglamento (UE) 2017/2402, del Parlamento Europeo y del Consejo, de 12 de diciembre de 2017 - The Securitisation Regulation establishing the common EU framework for securitisation transactions, including transparency and risk retention requirements. It is directly applicable in Spain since 2019, with ongoing supervisory guidance from Spanish authorities.
• Zona Especial Canaria (ZEC) regime under the Canary Islands regime fiscal - A Canary Islands tax incentive program designed to attract eligible activities, including certain financing structures and SPVs that meet requirements. Practical use in securitisation depends on eligibility and regulatory compliance. (Official Canary Islands government materials detail the regime and eligibility; consult regional resources for current requirements.)

For regulatory oversight, Spanish authorities active in this space include the Bank of Spain and the Comisión Nacional del Mercado de Valores (CNMV). See official resources for current circulars and guidance on securitisation operations and investment funds.

“The EU Securitisation Regulation introduces standardized disclosure and risk-retention rules to enhance market transparency and investor protection.”

Notes on local practice: Maspalomas-based deals often involve real estate assets and receivables linked to tourism, which may intersect with regional tax incentives and cross-border investment considerations. Local counsel coordinates with national regulators to ensure compliance across jurisdictions and market practices.

4. Frequently Asked Questions

What is structured finance in Spain and Maspalomas?

Structured finance uses SPVs to package assets into securities for investors. In Maspalomas, typical assets include hotel receivables and real estate project income, governed by EU rules and Spanish law.

What is an SPV and why use one for securitisation?

An SPV is a separate legal entity created to hold assets and issue securities. It isolates credit risk and helps meet regulatory requirements when financing asset pools.

What is required to set up securitisations in Spain?

Key steps include asset transfer to the SPV, retention of risk by originators, disclosure obligations, and regulatory approvals or notices with the CNMV and Bank of Spain as applicable.

How long does it take to structure a securitisation in Maspalomas?

For a straightforward pool of receivables, initial structuring can take 6 to 14 weeks, with longer timelines for complex cross-border deals or due diligence.

Do I need a local Maspalomas abogado for securitisation?

Yes. Local counsel understands Canarias-specific regulations, tax incentives, and market practices and coordinates with national regulators.

What is the difference between securitisation and a loan sale?

Securitisation uses an SPV to issue securitised notes backed by assets, while a loan sale transfers ownership of loans to another party without creating notes backed by a structured pool.

What are the primary regulatory requirements I should know?

Expect EU Securitisation Regulation requirements for transparency and risk retention, plus Spain’s Ley 5/2015 framework and CNMV guidance for investment funds and securitisations.

What costs should I anticipate when hiring a structured finance lawyer?

Costs include due diligence, SPV setup, regulatory filings, drafting of securitisation documents, and ongoing regulatory liaison. Fees vary by deal complexity.

Is the Canary Islands ZEC regime relevant to securitisations?

Only if the SPV and activities qualify under ZEC rules. A Maspalomas abogado can assess eligibility and tax planning implications.

What documents are typically needed for due diligence?

Asset schedules, title deeds, borrower and obligor information, credit reports, contracts, payment histories, and corporate structure documents are common.

Can non-residents participate in Spanish securitisations?

Yes, cross-border investors can participate, but they must comply with Spanish and EU disclosure, tax, and regulatory requirements.

What is the typical timeline for regulatory approvals?

Regulatory approvals or disclosures for securitisations generally take weeks to months, depending on complexity and cross-border elements.

5. Additional Resources

• Banco de España (Bank of Spain) - Supervises financial institutions, co-ordinates monetary stability, and provides regulatory guidance relevant to securitisations and financial markets. https://www.bde.es
• Comisión Nacional del Mercado de Valores (CNMV) - Supervises securities markets and investment services, including securitisation funds and structured finance disclosures. https://www.cnmv.es
• BOE (Boletín Oficial del Estado) - Official gazette where laws and regulations, including Ley 5/2015 and related securitisation rules, are published. https://www.boe.es

6. Next Steps

1. Define your securitisation objective in Maspalomas, including asset type and target investor base. Timeline: 1-2 weeks.
2. Engage a local abogado with experience in structured finance and knowledge of Canary Islands incentives. Timeline: 1 week to select a candidate.
3. Prepare a high-level asset schedule and initial SPV structure draft for review with regulators. Timeline: 2-3 weeks.
4. Consult with the CNMV and Bank of Spain where required and confirm disclosure and risk retention obligations. Timeline: 2-6 weeks depending on complexity.
5. Finalize SPV ownership, asset transfers, and securitisation documentation (notes, prospectus, servicing agreements). Timeline: 4-8 weeks.
6. Obtain necessary approvals and commence investor outreach. Timeline: 2-6 weeks.
7. Close the transaction and implement ongoing compliance and reporting through the life of the securitisation. Timeline: ongoing.