The benefits of setting up a business in Spain (especially if you come from a foreign country) have resulted in a curious effect known as ‘the Iberian dream’. After the dark and complicated recession times, we have lived not so long ago, the entrepreneurial impulse has risen out of the ashes with an unconventional strength. Spain reveals itself as a land of opportunities for those foreign investors who wish to start new business projects. Today we are going to review the benefits of setting up a business in Spain, which are the advantages that the Spanish tax system offers to foreign businessmen and which business projection you can expect.
Benefits of setting up a business in Spain: sun, sangria… and much more!
Spain is worldwide famous for its tourist attractions. From Hemingway to Chopin, many personalities from all over the world have surrendered to the enchantments of our country. The excellent climate enjoyed in most of the territory, the amazing gastronomy, the spectacular natural landscapes and the welcoming and charming population turn Spain into a place where it is a real pleasure to start any project. But we are aware that as an entrepreneur, in order to do business in a country you need much more than this… And we know that you can also find that essential plus here!
The benefits of setting up a business in Spain comprise many areas. From the legal and tax advantages of our system to the strong business growth the Spanish economy has been showing in the last years, these benefits are clear. In fact, today our country is the 14th biggest economy in the world and the 5th in the European Union. In Spain, there are around 46 million consumers (which add to the over 75 million tourists that visit us every year) who create a growing market with room for all the entrepreneurs, both Spanish and foreign.
Easy procedures and lower tax burden
If you think that setting up a business in Spain as a foreign entrepreneur can be hard, just forget it! There are many ways to do it. But if you do not want to create a branch or subsidiary company of your own business (located in another country) with all the disadvantages, procedures and expenses involved, there is no problem. In this article, you can learn how to set up a business in Spain from a foreign country in the quickest and easiest way, with all the guarantees and operating from the very first moment. As you can see, among the benefits of setting up a business in Spain this is a very interesting one: it is easy, quick and reliable.
Moreover, our country’s tax system makes it easier for foreign investors. The Spanish Tax Agency boasts about having a completely computerized system where most procedures and arrangements can be performed online. The tax burden supported by all the companies established in Spain is quite reduced and remains under the average burden of the UE-28 and the Euro Zone. Second benefit: you will pay less tax than in other countries (maybe even less than in your own country!)
The best place with the best communications
Among the benefits of setting up a business in Spain, the geographic location is surely one of the most interesting ones. The Iberian Peninsula is located in a strategic point that turns it into the “entrance gate” to America (especially Latin America, where the common culture and language create thousands of investment opportunities), Africa and Europe. Our country is the perfect place for import-export, tourism and communication business, among many others. In fact, the Spanish exports of goods to third countries reached around 277.000 million Euro in 2017… And here is another interesting fact for you: 43 percent of this amount was generated by a foreign business established in Spain.
On the other hand, the communication and infrastructure net in Spain is one of the best and most complete ones in the whole world. It is the country with more kilometers of motorway in all the European Union and has the widest net of high-speed trains in Europe (and the third in the world). In its most recent competitive report, the World Economic Forum (WEF) indicated that Spain is in the 12th position regarding the quality of its infrastructures and logistics. Surely, this is an essential fact for any foreign entrepreneur that is looking for the perfect place to start a business project.
Disadvantages? Well… Yes, but very few!
As well as pointing out the benefits of setting up a business in Spain, as a competitive and experienced business consultancy, we think it is important that you are aware of the disadvantages too. There are not many and they are all related to our laws. For example, once you have your NIE (Identification Number for Foreign People, essential for you) you will have to go through many procedures and “red tape” that may lead you to desperation. In this case, we have a good advice: better call a legal and tax consulting service, bilingual and proactive, with experience in helping many customers to achieve the same goal: setting up a business in Spain. At LEIALTA we can provide you with this service with all the competencies involved, so you can enjoy the benefits of setting up a business in Spain from the beginning (and forget about the disadvantages). Contact us and discover what we can do for your project!
A land of opportunities for foreign entrepreneurs
The benefits of setting up a business in Spain turn our country into a real ‘land of milk and honey’ for foreign investors. With a growing economy, an expanding consumer market and excellent future expectations, this can be the perfect moment to start that business that has been in your mind for some time. And always with the help of a wide-experienced business consultancy. Should you have any more questions, leave a comment and we will answer them!