Planning to do business in Spain?
Spain is the fourth largest economy in the EU and has emerged from the global economic crisis as an international and competitive economy, harboring more medium-sized and large enterprises than ever. With the GDP of the country growing more than 3% for the third year in a row, now is the perfect moment to do business in Spain.
Companies located in Spain benefit from a consumer market whose economic potential is above most European countries. In addition, Spain is more competitive than the main European economies in terms of salary wages, and residents and companies in Spain pay less taxes than the average in Europe.
Investing in Spain means having free access to the European Union market with 508 million inhabitants, as well as the 82 million of tourists that visit Spain every year. Furthermore, establishing a business in Spain is a good covering letter and may be the gateway to North Africa, Latin America, and the Middle East.
What are the risks and challenges?
Despite Spain being Europe’s 5th most popular destination for foreign direct investments as well as a high income country, it is below the OECD average in the approachability for business. This means that companies have many problems tackling its business model and its market.
The World Bank ranks Spain in 28th position in the 'ease of doing business'. This means that the country is tied up in bureaucracy, which makes the day-to-day running of a business exasperating and cumbersome. Furthermore, in the 'starting a business' rank, Spain goes down to the 86th position.
There are many reasons that explain this situation. Among them, there is the fact that administrations are not well coordinated leading to a situation where the same documents are required several times. Spain drops to the 123rd position when 'dealing with construction permits' due to the several certificates and inspections required during this process. Furthermore, it gets the 53rd position regarding the ‘registering property’ ranking and the 42nd in ‘getting electricity’. This numbers show the tedious process existing between investors and a growing and powerful market. So even when you have everything sorted out information wise, the process may be stifling and unproductive.
At Dos Aguas Consulting we help you overcome all possible hurdles and give you a head start into the Spanish market. We offer a continued presence in the country, flexible Spanish and international consultants, a broad network of contacts, and experience to enhance foreign companies' competitiveness.
Our services are flexible and can be adjusted to every requirement you may have. We assist you in every step along the way, whether it is dealing with the public administration or a potential business partner. Our work is to adapt to your particularities in order to make your company compatible with the Spanish market and maximize your chances of success.