Spain has an extensive and well-represented information and communication technology sector (ICT) that is well-represented by both local and foreign companies. Those who open an IT company in Spain have access to an evolving business sector, with accessible labor costs and a good regulatory regime for businesses. Our lawyers in Spain describe the requirements to open a company in this field.
Inheritance in the region of Andalucia, Spain, will be exempted from taxation for properties with a market value below EUR 1 million. The new regulation represents the most important tax reduction applicable to inherited assets in the last 35 years and it is available to certain categories of family members. The legislation was adopted at the end of September, 2017, and it is also applicable to persons who are citizens of the European Union (EU) and European Economic Area (EEA), as long as they are related to a Spanish national. Our team of lawyers in Spain can provide legal assistance on the legislation related to Spanish inheritance in the region of Andalucia, as well as on other Spanish regions.
Foreign investors in real estate in Spain have almost double the amount of expenditure in the first half of 2017 compared to the same period last year, shows a report issued by international consultancy firm JLL. Spanish cities Madrid and Barcelona remain the top recipients of FDI, however, Malaga and Seville are also interesting options. Our lawyers in Spain talk about foreign investment in property and the laws that apply to these transactions.
Exports from Malaga, Spain have increased by 20% on a year-on-year basis. Experts believe that if the growth remains constant throughout the remainder of the year, then the region can expect to set a new exports record by the end of 2017. The top exported products remain food and drinks, while others like clothing have also increased their sales. One of our lawyers in Spain can help you with information on investments in these fields and the conditions for exporting products.
The Spanish online gambling industry is regulated by the Spanish Gaming Act, which came into force in 2011. The Act refers to both regional gambling activities, which need licensing from the autonomous region in which the company was registered, as well as the online gambling activities that must obtain an authorization at a national level. However, if the online activities are carried only in a specific region of the country, the investors will need an approval issued by the institutions of the autonomous region and, in this sense, it is important to know that Spain has 17 autonomous regions and two autonomous cities. Our team of lawyers in Spain can offer in-depth assistance on the regulations available for this type of activity, as well as on the specific tax aspects related to the gambling industry.
Foreign tourists who visited Spain in the first six months of 2017 spent an overall sum of EUR 37.22 billion, which represented an increase of 14.8% compared to the same period of time of the previous year. As it was the case in the last years, UK citizens were the top tourists in Spain. The data provided by the National Statistics Institute revelead that British tourists spent the largest sum of money (7.55 billion). The tourism industry in Spain is a highly developed field of activity and investors who want to start a company here may set up their business operations in one of the top Spanish touristic destinations. Our team of lawyers in Spain may assist foreigners with advice on this matter.
The Spanish Government plans on cutting down the value added tax for cultural activities. This decision comes after a decrease of the popularity and the sales for live events in the country. Investors in the entertainment industry in Spain can talk to one of our attorneys in Spain to find out more how they will benefit from the implementation of this measure.
Investors in Spain in the tourism sector can expect no long-lasting effect of the Barcelona attack on their business, experts believe. The estimate is based on the city’s size and the fact that it is a top tourist destination. Moreover, other cities that have seen similar events, like London, have experienced a rapid bounce back in their number of tourists.
Spain’s economy recorded its largest growth since the pre-crash peak. The 0.9% growth in the second quarter of 2017 was among the largest in Europe and it was significantly larger than the growth figures recorded by the United Kingdom, for example. European statistics offices point it that the economy grew faster than it was predicted for the April-June period. One of our lawyers in Spain can give you complete information on the current conditions for investment and the policies that are favorable for foreign entrepreneurs in Spain.
A new regime for reporting the VAT-taxable transactions was introduced in Spain starting on July 1st. The new framework covers large taxpayers, with a turnover exceeding 6 million euros per year and targets those large companies in Spain that file monthly VAT returns. Our lawyers in Spain can help you understand this new regime and whether or not it applies to your business.
The Spanish tourism reached a new record on account of the foreign visitors arriving from the United Kingdom (UK). The tourism industry in Spain registered the fifth record year and investors interested in opening a company operating in this industry should know that, at the level of 2016, the field accounted for an overall value of EUR 77 billion. The projections for 2017 show that the industry will further grow and our team of lawyers in Spain can offer more details on the main types of permits that are to be obtained by companies operating in this industry.
Spain is an attractive destination for persons interested in purchasing a property. With a warm climate and numerous touristic locations, Spain stands out as one of the top European countries on property matters, certain regions of the country representing the highlights of the property market. In this sense, it is important to know that British citizens have the highest level of interest for purchasing a property in Spain. Our team of lawyers in Spain can offer in-depth advice on the legislation regulating the procedure for purchasing a property here, for residential or commercial purposes.
The Spanish economy is recovering from the economic crisis which affected the entire continent during the last decade. The property market in Spain is also on an upward trajectory, with sustained economic growth and stability in the real estate investment sector. Over the last three years, the property market in Spain has witnessed an increase of the selling prices and demand. Property transactions and new housing starts had a 70% annual increase in 2016. The legal aspects regulating the property market in Spain can be explained to you by our attorneys in Spain.
The Spanish economy is characterized by several economic activities. The business environment is highly competitive for investors who want to open a company in Spain, as the country is considered the 5th largest economy in the European Union (EU). Foreign investors should also know that Spain represents the 14th largest economy at a global level, being characterized by strong export activities, tourism and foreign direct investments. Our team of lawyers in Spain can offer legal assistance on the main rules of law regulating the above mentioned fields.
Renewable energy, infrastructure, water waste management, high-speed rail and even civil aviation are the subjects of new agreements signed by Spain and India to strengthen the economic relations in 2017. The future economic collaboration sounds promising, and even more, the representatives of the two countries also focused on cyber security matters as part of the developments in the future period. Spain is among countries with numerous investment opportunities in key sectors and investors direct their attention in fields like real estate, tourism, transportation and green energy. If you plan to make investments in Spain and you need to know the legislation in this matter, we invite you to get in touch with our lawyers in Spain for legal support.
With a spectacular comeback in most important economic fields, Spain is about to exceed the 2.7 % GDP (gross domestic product) rate settled for this year. Compared to the previous year, the same quarter, Spain already registered a 0.8% growth and continues with the same expansion, according to statistics. Having a stable economy, Spain can attract even more foreign investments this year, so if you are an entrepreneur looking to establish the activities in the country, you can solicit legal help and information about the legislation in this matter from our lawyers in Spain.
The Reciprocal Guarantee Societies in Spain is a type of funding scheme providing assistance to Spanish businesses which operate as small and medium sized companies (SME). The Guarantee System can act as a third party between the entities which are interested in obtaining funding and the credit institutions, as it acts as guarantor in this case. Our team of lawyers in Spain can offer legal assistance on the regulations related to the Reciprocal Guarantee Societies.
The region of Andalusia offers numerous business opportunities for investors who want to start a company in Spain. At a national level, Andalusia leads for patent registrations, which increased by 14.5% compared to the previous year. In order to register a patent in Spain, the inventors or the legal entities interested in protecting intellectual property will need to apply at the competent authorities and our team of Spanish lawyers can offer legal assistance on this matter.
Catalonia, a developed region in Spain, registed in 2016 an economic growth of 3.5%. The increase was a direct effect of the activities carried out by the local industries and it is important to know that the Gross Domestic Product (GDP) increase was above the European Union’s average. At the same time, the Catalan economy was also above the Spanish GDP increase, situated at 3.2% in 2016. Businessmen interested in opening a company in Spain can find out more details on the legislation applicable to commercial companies from our team of Spanish lawyers.