Monday, August 10, 2015

Why should I invest in Spain?

Spain is a highly internationalized economy, which holds the 13th position in the world’s economy and the 5th in Europe. If this were not enough, we will try to summarise other reasons that make Spain a perfect business destination.

Firstly, we have to talk about Spanish external sector, which is strong and sustainable. It has been proved, considering that the weight of export in GDP has increased from 21.9% to 32.6% in the last 5 years. In addition, exports of goods and services related to GDP were higher than in other European countries, like United Kingdom or France.

Emerging countries are a hard competition, and some countries, like Germany, Japan or Italy, have seen their export market share dropping. On the contrary, Spanish share has remained stable, even increasing its portion in international trade of goods in 2013.

Spain is also an amazing access to many interesting markets. Spain grants access to the largest world market, the European Union. Here, there are many advantages, such as free movement of good and services, capital and people or a single currency.  

Besides, it is the best place for doing business in Latin America since there are agreements to Avoid Double Taxation and for protect and promote reciprocal investment with up to 20 countries. That is not all; language or communications are other advantages that should not go unnoticed. It is explanatory that more than 50 million people use Spanish at work in USA; Madrid concentrates around 35% of air traffic between Europe and Latin America and many multinational companies choose Spain for their Latin American headquarters.

The Spanish Government has done some reforms in economic and structural policy. These reforms have affected Administration (strengthening the structural fiscal framework), Financial System (adjustment and recapitalization) or Labour Market (fostering flexibility and productivity).

This way, there are new facilities for qualified immigration and investors. Procedures to get visas or authorizations take between 10 and 20 days, they are valid for the whole of Spain, and immigrants’ relatives can benefit too.

There are much more reasons, but we will highlight Spanish infrastructures. In summary:

  • Airport network: Spain has the third largest amount of flights in Europe, with Madrid and Barcelona as the main hubs. 
  • Railway network: In accordance with the World Economic Forum, the Spanish railroad is one of the best in the world, as well as one of the best subway systems in major cities.
  • Road network: the World Economic Forum also considers Spanish roads among the most qualified roads in the world. 
  • Port Facilities: The state owns 46 ports which cover Atlantic and Mediterranean coasts. Algeciras, Valencia and Barcelona have their ports in Top-20 container ports in Europe.
These are only some reasons which make Spain a really good choice if you want to invest. Contact us if you have any doubt, we will be pleased to advise you. Evolutiza Lawyers and Tax Advisors could guide you all around the bull's hide.