Foreign businessmen who want to invest in Spain
can choose from a large set of investment vehicles
, addressed to various types of investors
, a member state of the European Union (EU), applies in its national legislation the rules imposed by the European directives for the registration of an investment fund
. Our team of specialists in company formation in Spain
can offer an in-depth presentation on the types of funds
available to foreign investors and can also help in complying with all the requirements imposed for setting up this type of entity.
Alternative investment funds in Spain
One of the ways in which an investor can open a company in Spain
is by setting up an alternative investment fund (AIF)
, regulated by two types of legislations, set out in accordance with the AIF type
. The Spanish legislation
distinguishes between closed-ended AIFs
, where the investors are allowed to issue only a limited amount of shares, and open-ended AIFs
, which do not have any restrictions in this sense.
AIFs in Spain are regulated under the Alternative Investment Fund Managers (AIFM) directive, imposed by the EU. Spanish AIFMs are required to register at the Spanish National Securities Market Commission (CNMV), the main regulatory body.
However, it is important to know that a foreign AIFM
which have received an authorization issued by a similar institution in another EU country is not required to receive a new approval from the Spanish authorities
; our agents in company incorporation in Spain
can offer more details on the AIFM directive
Receive CNMV authorization for Spanish AIFs
All investment funds set up in Spain have to be registered at the CNMV, but the registration procedure depends on the type of fund chosen by the businessmen.
An important provision referring to EU AIFs is that they won’t need further approval when registering in Spain, as they have received it from a recognised institution. The investors will have to submit several documents, such as information on the fund administrator or data attesting the compliance with the applicable regulations.
Hedge funds in Spain
Investors can also set up a hedge fund, a type of fund especially addressed to professional investors. They offer many advantages to investors, as there are no restrictions referring to the investment policies applied by the businessmen.