After the recent years in which Spain’s economy has stagnated, the most recent reports for 2015 issued by the European Commission and the International Monetary Fund (IMF) have raised the country’s economic growth forecasts to 2.8%, respectively 2.5% by the end the year. The new reports make Spain one of the fastest growing economies in the European Union. Among the factors improving Spain’s economic situation are the labor market and the banking sector with a significant increase. Consumption has also led to investment which boosted the country’s economy this year.
Our company formation agents in Spain can offer you an insight of the most thriving industries in the country.
After the economic crisis, Spain has improved its legislation related to foreign investments and provided more incentives for the private sector which raised foreign enterprisers’ confidence and transformed Spain into the second largest recipient of Foreign Direct Investment (FDI) and the third largest investor in the European Union.
More details on the main reasons for investing in Spain are offered in the video below:
Among Spain’s strong points are the increasing number of multinational companies operating in Spain, the ever increasing tourism industry, its efficient infrastructure and land transport network and the recent development of the renewable energy industry. Spain also aims to become one of the largest key players in the research and development sector in the world. At this moment the Government has enabled the Malaga Valley project that will host the largest research and innovation center in Europe designed for the information and communications technologies.
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 company registration staff.