Choosing Spain for business formation and development is for sure a great option and a good strategy. The market offers a wide range of opportunities and advantages for both local and international entrepreneurs. We present to you a few of the reasons for doing business in Spain, with the mention that one of our Spanish company formation agents can manage the incorporation of your future firm in this country.
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1. Spain, an attractive country for business in Europe
The Spanish market is highly appreciated by investors from abroad who know the importance of setting the operations in this country. In matters of economy, Spain is the 14th largest economy in the world, but there are other figures that highlight the advantages of this country:
- Nearly USD 752 billion was the value of the total FDIs in Spain in 2019.
- According to the 2020 Doing Business report and the ease of doing business, Spain ranked 30th out of 190 worldwide economies.
- Almost USD 22 billion was the total value of the greenfield investments in Spain in 2019.
- Around 70% of the total FDIs registered by Spain come from countries like France, UK, Luxembourg, Italy, the Netherlands, and Germany.
Doing business in Spain requires attention for the proper type of structure that suits future activities. Also, there are no complexities for company relocation in Spain, if such a decision is made. Contacting us for setting up a company in Spain is easy, so make sure you address your inquiries to our team and ask for assistance.
2. Spain’s infrastructure offers support for operational companies
It is a well-known fact that Spain invested quite much in today’s infrastructure. In matters of logistics and infrastructure Spain is ranked 12th among worldwide countries, a great performance that is highly appreciated by international players.
The IT and telecommunication sector is also well-developed in Spain and it offers just the proper support for any kind of business established in this country.
3. Spain is an appreciated international business hub
The great geographic location of Spain that connects the country with international markets is a great business advantage in front of investors. Being a competitive market, Spain offers stability and protection for all kinds of entrepreneurs interested in doing business in Spain. For example, Spain’s exports worth around USD 115 billion, according to the latest statistics, placing the country 11th on a global scale.
4. Spain offers an experienced workforce
Doing business in Spain is not challenging from an employment point of view. Hence, investors from abroad can easily hire local staff that guarantees great support, professionalism, and experience.
The multilingual and skilled workforce available in Spain represents quite a benefit for entrepreneurs who want to activate on the Spanish market without risks in this direction. If you believe it is time to open a company in Spain, please feel free to discuss this topic with our Spanish company formation agents.
5. Spain supports innovation and related incubators
Spain aligns with countries worldwide that focus on innovation, technology, research, and development. There are many exciting business opportunities for domestic and international players, many of them being developed in Catalonia, Spain’s important region that sustains the country’s GDP in a large percent.
Many foreign companies already thrive in Spain and enjoy the benefits offered by the government, among which, support for innovative businesses, tax incentives, non-refundable subsidies, and advantageous loans.
Is it hard to start a business in Spain as a foreigner?
No, there is no need to worry about company formation in Spain because the formalities are straightforward and simplified to allow entrepreneurs to start the operations in a fast manner. The Spanish SL, for example, is the well-known limited liability company, the simplest business form available. This kind of structure requires a minimum share capital of EUR 3,000 deposited in a Spanish bank account, plus the tax registration with the relevant authorities.
Empresa Individual is the same thing as the sole trader, another great option for foreigners in Spain. Having a simple business structure, there is no need for minimum share capital, and the activities can be rapidly started if the tax registration is made.
Regardless of the business structure, you select as a foreigner in Spain, we kindly invite you to discuss further details with our Spanish company formation specialists with experience in this field.
You can get in touch with us via email or over the phone if you are interested in doing business in Spain.