Spain is one of the best destinations for setting up a fintech company. This country has already registered more than 200 companies operating in this sector and it is considered the fifth economy in the world in terms of fintech operations. The procedure of company formation in Spain for a fintech business follows the standard registration requirements imposed under the commercial legislation, but such companies are required to obtain different business permits that vary depending on the business operations developed on the local market. Our team of agents in company registration in Spain can provide advice on the institutions from which investors should obtain business permits.
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Fintech operations in Spain
The digital sector is increasing in Spain and more and more companies are interested in operating in this field. The Spanish Fintech and Insurtech Association (AEFI) mentioned that the emerging companies operating here are involved in the following fintech sectors:
- big data;
- cloud computing;
- mobile technology;
- open-source software.
At the level of 2016, the largest fintech sector was represented by lending – which refers to loans and credits offered to individuals and legal entities through the usage of financial technologies. Other activities performed by the fintech companies with relevant growth were the following:
- money exchange;
- international and national payments;
- money transfers.
Investors interested in starting the procedure of company registration in Spain must know that there are relevant business opportunities for cryptocurrency activities, a field of activity that has not been regulated yet on the local market (but the local authorities are proposing a legal framework in this sense). Our team of specialists in company formation in Spain can offer in-depth information on this matter.
Fintech, a booming sector in Spain
At the level of 2013, Spain registered only 50 fintech companies. Since then, the number increased to more than 200, as mentioned above, increasing by four times in the last three years. At the same time, Spain had the highest growth rate for start-up companies registered in the field.
Investors can address to our team of consultants for consultancy services on the incentives available for fintech startup businesses.