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Spain is one of the leading global economic powerhouses, the 11th largest recipient of FDI worldwide(1) , testifying to the pivotal role played by foreign investment in the Spanish economy.
Spain is also the fifth largest economy in the European Union (EU) and now one of the fastest growing in the Eurozone. The population of Spain is about 47 million making it one of the biggest consumer markets and purchasing power in the EU.
Spain’s Gross Domestic Product (GDP) grew 1.4% in 2014. Growth has continued into 2015, with 0.9% growth in the first quarter of 2015. 3% growth is forecast for 2015.
The economic recovery has resulted in the return of foreign investment. EUR 69 billion was invested in Spain in 2013, following an outflow of EUR 193 billion in 2012.
Benefits of investing/ exporting to Spain include:
- A privileged geo-strategic position – the gateway to the Mediterranean, North Africa and Latin America. Combined, the Latin American countries are Spain’s second largest export market. Spain is also the second most important investor in Latin America. Many Spanish companies have large distribution capabilities in the region.
- Spain’s fiscal pressure is below the average for the EU-27 and the Euro zone, with one of the lowest rates of VAT in the EU and an interesting Corporation Tax rebate system, bringing about an effective tax rate of 16.7%.
- Offers attractive tax incentives to R&D&I which are amongst some of the best applied in OECD countries to promote investments by large corporations and by small and medium sized enterprises.
- In Spain, as a Member State of the EU, potential investors can access European support programmes.
Establishing a company in Spain
Fact sheet for the foreign investor about how to establish a company in Spain, the purchase of an existing company, the establishment of a representation office, the establishment of a branch and the differences and similarities between S.A. and S.L.
Food Trade Affairs can help you gain access to prospective customers or business partners in Spain.
For Spanish companies looking to export outside Spain, we can help you taking your business to new horizons.