Spain is one of the largest economies of the world. Businessmen can set up their business operations in various successful industries in this country and, at the same time, they can apply for a wide range of grants to further develop the value of their company. Foreign investors can also apply for modernization grants offered by the Spanish authorities, provided that certain conditions are met, such as the category in which the business in operating, or its size. Our team of Spanish lawyers can offer an in-depth presentation on such grants.
Financial support for R&D&I in Spain
Foreign investors who want to open a company in Spain can apply for a financial support if they operate in the manufacturing industry. Spain provides the Financial Support for R&D&I in the field of Industry 4.0, under the form of a loan.
Industry 4.0, also referred to as Fourth Industrial Revolution, is aiming at developing companies in the field of manufacturing or production industries, by including modern means of technology in their operations. Such means can refer to the Internet of Things, cloud computing and other similar technologies.
The above mentioned grant is addressed to all types of legal entities in Spain, regardless of their sizes. The Spanish authorities can offer a loan of maximum EUR 150,000. Those who are interested in applying for a loan under this financing option should know that the main institution handling the procedure is the Ministry of Economy, Industry and Competitiveness. Our law firm in Spain can provide more details on the legal requirements that must be respected in this case.
Digital Economy and Society Strategic Action in Spain
Another type of grant available for modernization purposes in Spain is the Digital Economy and Society Strategic Action, which can be granted to investors under the form of a loan or a subsidy.
The programme is available only for companies operating in the information and communications technology field, regardless of the size of the company. The funding scheme is available under the regulations of the Ministry of Energy, Tourism and Digital Agenda (MINETAD).
Businessmen are invited to contact our attorneys in Spain for more details on the Spanish modernization grants.