16 Mar

Guide to business in Spain, by ICEX: interesting business oportunities for foreign investors

The Executive Direction of Invest in Spain, ICEX, has created the “Guide to business in Spain. 2017” in collaboration with Garrigues. According to the figures included in the Guide, 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.

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.

About Spanish tax system, the Spanish Tax Agency (AEAT), which has been recognized as one of the most innovative and efficient tax agencies in the world, offers the taxpayers a wide range of services in order to facilitate the fulfillment of their tax obligations. For this purpose, among other measures, it provides the taxpayers with computer programs that facilitate the preparation of their tax forms and promotes its electronic submission and payment, by using an electronic official

certificate.

Finally, the tax reform carried out in 2014 simplified the tax obligations of the taxpayers and, in general terms, reduced their tax burden

The practical guide for the foreign investor contains the following chapters:

– Spain profile,

– Establishing a business in Spain,

– Tax system,

– Investment aid and incentives in Spain,

– Labor and Social Security regulations,

– Intellectual property law,

– Legal framework and tax implications of e-commerce in Spain,

– Useful addresses and three appendixs: Company and commercial law, The Spanish financial system and Accounting and audit issues.

You can click here to access the Guide.

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