Spain, the world’s 14th largest economy and is one of the most attractive domestic market in Europe High rental income and property value increase Stable economy, low interest rates The world’s second most popular holiday destination important strategic location at the intersection of the continents International sports, art, music organizations.
The Spanish economy began its recovery several years ago, after the end of the economic crisis that hit European countries, when the local institutions saw relevant improvements of the local market. The Spanish economy increased in the last years due to the employment market, which expanded at a fast pace; the growth was also driven by the level of investments.
Currently, Spain is one of the most attractive business markets in Europe, providing a set of competitive advantages. At the level of 2018, the economic growth in Spain stood at 2.6%, one of the key pillars of the country’s growth being the tourism sector, which placed the country as one of the most Our specialists in company formation in Spain can offer you an insight of the most thriving industries in the country.
Spain, the third largest investment market in the EU
After the economic crisis, Spain has improved its legislation related to foreign investments and provided more incentives for the private sector, which raised foreign investors’ confidence and transformed Spain into the second largest recipient of Foreign Direct Investments (FDI) and the third largest investor in the European Union.
Why invest in Spain?
Adaptability and flexibility are Spain’s strongest points when it comes to welcoming foreign investors. There are no restrictions applied to foreign citizens coming to set up businesses in Spain. Foreign investors benefit from the same conditions for opening a company in Spain as any other local enterpriser.
Spain has signed bilateral agreements with over 50 states in order to establish the legal framework for foreign investments. Also, investment portfolios from companies within the EU are not required to submit any declaration, no matter the amount invested, thus reducing significantly the administrative burden on the foreign investors.
Additionally, the Spanish Government supports investors by providing them with several incentives in various industries. If you want to open a company in Spain and need details about the legislation related to foreign investments, please contact our team of consultants in Spanish company formation.
What are the advantages of opening a Spanish company?
- • the costs associated with employment in Spain are 29% lower compared to the Eurozone region;
- • compared to the EU average, the employment costs are 16% lower;
- • in industry, the costs associated with one hour of labor are EUR 23 in Spain;
- • wages and social security in industry in the Eurozone average for the same index stands at EUR 33/hour;
- • electricity costs are much lower in Spain compared to similar economies (in UK, electricity costs are 55% higher than in Spain).