The 2020 Guide to Doing Business in Spain includes the latest information on foreign investment in the new COVID-19 environment04 November 2020
It also updates the content on the audiovisual and tourism sector and analyzes the effects of Brexit on European brands
ICEX-Invest in Spain has launched the 36th edition of Guide to Doing Business in Spain, compiled by the law firm Garrigues. It is available now free of charge on the Invest in Spain website in Spanish and English. The publication sums up in just over 450 pages the main regulatory aspects affecting investments in Spain, with particular emphasis on the special features of the Spanish legal system for foreign investment.
In the new edition, ICEX-Invest in Spain reflects the changes in legislation implemented in Spain since the last edition of the guide. In particular, this year includes the effects of the COVID-19 pandemic, among them the new system of foreign investment arising from the extraordinary measures implemented by the Government to address the economic and social impact of the coronavirus. The publication also includes the initiatives adopted by the Center for Technological and Industrial Development (CDTI), those promoted as part of the REINDUS Aid Program for Reindustrialization Actions of the Ministry of Industry, Commerce and Tourism, and the exceptional line of guarantees offered by the ICO. In addition, the items dealing with tax incentives for film productions and audiovisual series has been updated and extended; also included is the Science and Innovation Mission Program, which develops the CDTI through a public-private partnership. This is a project designed to support major R&D-intensive business initiatives in five areas of great importance for the future of Spain: clean energy; smart mobility; a sustainable agrifood sector; Spanish industry for the 21st century; and the response to the needs of aging.
Another of the new points included in the guide are the main lines of the 2030 Sustainable Strategy for Tourism in Spain; the reference to conflict resolution and international arbitration has also been extended and improved; and a brief analysis has been included of how Brexit affects the brands registered in the EU.
A work of reference
The Guide to Doing Business in Spain includes content of a high technical standard. It combines legal precision with a desire to inform, making it an essential publication among documents of its type. In fact, over the last year it has had more than 52,000 users in 177 different countries. The publication contains exhaustive information on the main ways for foreign investors to set up in Spain, including practical information on aspects such as business, tax, and labor law; money laundering; public subsidies; the financial sector; intellectual and industrial property; e-commerce; and accounting and auditing.
This information is useful not only for investors who are dealing with the Spanish regulatory system for the first time, but also for those who already have some prior knowledge and wish to learn more about the most important aspects of setting up and growing a company in Spain.
To make it easier to use, the guide can be consulted online or downloaded as a pdf, as a whole or by sections.
Spain, one of the main FDI destinations
Spain is one of the foremost receivers of foreign direct investment (FDI) in the world. According to the latest data from UNCTAD, the country is the 11th recipient of FDI in the word in terms of stock, with investment equivalent to 750 billion dollars, approximately 54% of Spanish GDP. According to figures in the foreign investment register of the Ministry of Industry, Commerce and Tourism, over 16,000 foreign capital companies operate in Spain, employing more than a million and half people.
ICEX-Invest in Spain
The Executive Management of ICEX Invest in Spain operates to promote and attract foreign investment. Its mission is to promote, attract and boost foreign investment in Spain, as well as reinvestment by established foreign companies. ICEX designs and runs activities to position Spain as a global platform for international business and investment. Another of its areas of activity is to improve the business climate in Spain through an ongoing dialog with other ministerial departments and with business associations and companies established in Spain, whether with Spanish or foreign capital.
Garrigues is an international firm offering legal and tax services and providing advice at local, regional and global level on all aspects of business law. Its strength lies in its team of over 2,000 people who work across departments to resolve their clients' problems; and also in the values it shares in the 13 countries where it operates: the highest quality of service; ethical commitment; and innovative action to anticipate market needs. Its final aim is to foster the development of companies in a fairer, more ethical, responsible and sustainable society.