Low tax payment. Great market opportunities. Amazing weather and low cost of living.
Spain is not only a good destination for investment and enterprise creation. Today is probably one of the best options in the European Union.
Minimum Budget to set-up a Business: EUR 5.000
Recommended Budget: EUR 35.000
- Categories : Recommended destinations
Spain is in an outstanding position worldwide in terms of the importance of its economy: the 14th largest economy in the world by GDP, the 13th country most attractive for foreign direct investment (FDI), the 14th largest issuer of FDI and the 11th largest exporter of commercial services.
Spain has a modern economy based on knowledge, in which services represent almost 75% of business activity. It is an international center for innovation that benefits from a young and highly qualified population of a proactive nature, and competitive costs in the context of Western Europe, especially as regards graduate and post-graduate employees.
The country has worked hard to equip itself with state of the art infrastructures capable of fostering the future growth of the economy. And this has been done alongside a major commitment to R&D.
There are interesting business opportunities for foreign investors in Spain in high value-added and strategic fields such as the ICT, renewable energy, biotechnology, environment, aerospace and automotive sectors, because of the attractive competitive environment.
In addition, companies that set up business in Spain can gain access not only to the Spanish national market, an attractively large market (more than 46 million consumers) with a high purchasing power, but also to the markets of the EMEA region (Europe, Middle East and North Africa), and Latin America, given its privileged geostrategic position, prestige and the strong presence of Spanish companies in these regions.
The main characteristics of this country are:
Geography, quality of life, climate and living conditions:
The weather in the northern coastal region (looking onto the Atlantic and the Bay of Biscay) is mild and generally rainy throughout the year, with temperatures neither very low in the winter nor very high in the summer. The climate on the Mediterranean coastline, including the Balearic Islands, Ceuta and Melilla, is mild in the winter and hot and dry in the summer.
Spain is well known, among other things, for its excellent quality of life, the open-minded character of its people and the wealth of opportunities on offer, both in the fields of education and culture and in the worlds of sport and leisure.
Spain has a wide range of public and private hospitals and a buoyant housing market. All of which, when combined with the assurance provided by a system of law enforcement that works, make Spain an ideal country in which to live and work.
It comes as no surprise that Spain has been ranked among the top world list of tourist destinations, not only in terms of visitor numbers but also in terms of revenues generated.
Spain has an excellent quality of life and is very open to foreigners. Almost 8,000 kilometers of coastline, abundant sporting facilities and events and social opportunities are crowned by the diversity of the country’s cultural heritage as a crossroads of civilizations.
Between 25% and 30% cheaper than the average of the eurozone.
40 hours of work per week.
Favourable Legislation on patents and trademarksSpain has a modern and appropriate legislation to the times, as far as patents, trademarks and industrial designs.
Spain is, for example, the second country in the world with more renewable energy patents per capita, ahead of economies like the United States, and in some areas that are world leaders in the receipt of technology patents, as in innovation in the field of solar energy.
Great tourist and cultural powerNearly 80 million tourists visit Spain each year. This not only become a major economic engine, with tens of billions of euros in income that make the world’s second country with most income from this source (only behind the United States) but also generates enormous prestige thank to the cultural and tourist potential that represents.
Setting up a business
The types of business entities available are in keeping with those existing in other OECD countries and there is also a wide range of possibilities capable of meeting the needs of the different types of investor who wish to invest in or from Spain. It is also worth noting that foreign investment restrictions and exchange controls have been virtually eliminated in line with the EU legislation on deregulation in this area.
The Spanish tax system is modern and pro-business. The tax burden in Spain (i.e. tax and social security contributions as a percentage of GDP) is almost seven points lower than the average ratio in neighboring countries (EU-27).
With a view to fostering investment, employment, competitiveness and economic growth, the Spanish State and Spain’s other public authorities have been developing and consolidating a wide and complete range of aid instruments and incentives, placing special emphasis on fostering indefinite-term employment, on regional investment and on research, development and technological innovation (R&D and TI).
Moreover, since Spain is an EU Member State, potential investors can benefit from European aid programs, which make investment in Spain even more attractive.
Living in Spain
Living in Spain is a dream for those who are ready to get retired and to find the perfect property in one of the most exciting and cultural places in the world. There are some pros when it comes to living in Spain:
Low cost of living and quality of life
Good food and friendliness
Fantastic weather and outdoor activities
Incredible views and celebrations
Every industry has its own challenges and opportunities and it takes expert market knowledge to pinpoint the right entry points for your venture. If you want to set-up a business, buy a company, live, study, get retired, buy a property or invest in Spain. Please, contact us.