ICEX-INVEST IN SPAIN

Balearic Islands

Aid for business development

  • One-stop Business Service (in Spanish, VUE): to improve the process for incorporating new companies, the One-stop Business Service (VUE) offers comprehensive support for entrepreneurs. The service is the result of a collaboration agreement between the Ministry of Public Administration, the Government of the Balearic Islands, Palma City Council, the High Council of Chambers of Commerce and the Chamber of Commerce. Accordingly, the various government bodies work together to streamline the process and provide the information necessary to incorporate and start up a company.
  • Entrepreneur portals: the business opportunities in a given area are determined by the economic and social climate of the region. In the Balearic Islands, coming up with a specific list of possible emerging sectors can be a difficult task. For this reason, it is a good idea to log on to the entrepreneur portal at and consult the various manuals and tools it provides.
  • Instituto de Innovación Empresarial de las Islas Baleares (IDI, Business Innovation Institute of the Balearic Islands): it is a public enterprise owned by the Balearic Islands Department of Trade, Industry and Energy. It serves the needs of businesses to become more innovative and competitive by offering the following services:
    - Business strategy and finance
    - Business information and training
    - Business mentoring
    - Infrastructure and industrial land
    - Business promotion

Financial support

  • Sociedad de Garantía Recíproca de las Baleares (ISBA) is a mutual guarantee company that provides small and medium-sized enterprises, self-employed workers and professionals with access to credit through guarantees and refinancing. Its services are intended for start-up companies (entrepreneurs) and existing businesses whose registered office and business activity are in the Balearic Islands. Its main products include a line of guarantees for start-up companies provided by the ISBA and the Chamber of Commerce. Preference is given according to the viability of the project and its guarantee of success. For further information, please log on to www.isbasgr.es.
  • Instituto de Crédito Oficial (ICO, Official Credit Institute) is a public enterprise that provides medium- and long-term finance for production-related investments for companies incorporated in Spain or Spanish companies operating abroad. ICO works in two ways: through loans from banks and savings banks with which it has signed agreements or directly through ICO itself (www.ico.es). Its tools include the Small and Medium-sized Enterprise Line of loans (SME Line), which finance investment in both tangible and intangible assets.
  • The Balearic Island Department of Trade, Industry and Energy also offers two types of subsidy:
    - Aid for small and medium-sized enterprises to improve business competitiveness through innovation.
    - Aid for companies in the retail and services sector, where the aim is to promote local and craft products from the Balearic Islands and to modernize and adapt the retail and services sectors in terms of competitiveness and quality.
    - 2010 aid for industry. This is support for small and medium-sized manufacturing companies to finance quality, design, sales promotion, the modernization of the production process, the transfer of companies to land zoned for industrial use, new business management strategies and business creation.
    - Aid for activities related to energy efficiency and the promotion of renewable energies.

Last updated: 16|07|2015

The information on these pages was prepared by each autonomous community

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