Guide to business in Spain Guía de negocios en España


6. Instituto de Crédito Oficial or ICO)


Consistent with its objective to contribute to economic growth and to the improvement of the distribution of national wealth, the ICO cooperates with other national and international bodies and institutions which work for the benefit of industries which, given their social, cultural, innovative or ecological significance, merit priority attention.

Thus, for a number of years the ICO has been executing multilateral institutional and/or financial cooperation agreements with similar bodies, Autonomous Communities, ministries and financial institutions with a view to helping Spanish enterprises start up new investment projects.

Notwithstanding other lines intended for certain specific sectors, the following are the main ICO lines of financing for 2015: (i) Enterprises and Entrepreneurs, (ii) Mutual Guarantee Society Guarantee/State-owned Agricultural Surety Corporation, (iii) Corporate Promissory Notes and Bonds, (iv) Exporters 2015, (v) International Tranche I "Investment and liquidity", and (iv) International Tranche II "Medium and Long-term Exporters", whose most notable characteristics are:

  • Línea ICO Empresas y Emprendedores 2015 (ICO Enterprises and Entrepreneurs Line):
  • Independent professionals and public and private enterprises —both Spanish and foreign— who make productive investments in Spain and/or need to cover their liquidity needs may apply for these loans.

    Transactions are processed directly via credit institutions with which the ICO has executed a cooperation agreement for the implementation of this line.

    The loans may be used to finance:

    1. Liquidity: Working capital needs such as current expenses, payroll, payments to suppliers, purchase of goods, etc.
    2. Productive investments within Spain:
    • New or second-hand productive fixed assets (including VAT).
    • Cars whose price does not exceed €30,000 plus VAT. Industrial vehicles may be financed 100%.
    • Acquisition of enterprises.
    • Value added tax (VAT) or Canary Islands general indirect tax (IGIC).
    • Liquidity with a limit of 50% of the financing obtained for this form of investment.

Guide to business in Spain

Investment aid and incentives in Spain


ICEX - Gobierno de España - Ministerio de Economía y competitividad
Elaborado por Garrigues - Abogados y Asesores Tributarios
INVEST IN SPAIN. Paseo de la Castellana, 278. 28046 Madrid
T: (+34) 91 503 58 00 |