Advantages of establishing a business in Spain in 2022

When you make the decision to create a company, it is common to imagine a constant growth that translates into the search for success. Do you feel identified? Would you like to expand today? The Spanish territory is ideal to carry out your project, and in this article we tell you the advantages of establishing a business in Spain in 2022.

 Why set up a business in Spain?

Among so many options of countries where you can start and create your own business, you are probably asking yourself: why Spain? The answer is simple, here you will find multiple opportunities to grow your project, you will have the necessary support to start from scratch, as well as to promote the expansion you want so much.

In this regard, we believe it is important to emphasize that, by mid-2022, it is estimated that there will be around 3,366,570 companies registered in the country, with the Autonomous Community of Catalonia and Madrid being among the areas preferred by entrepreneurs for investment.

Spain represents, therefore, a favorable region to promote business expansion, both for Spanish residents and for all those foreigners in search of new markets.

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What is business expansion?

Now, when we talk about business expansion, we are referring to the approach that a company takes with the main objective of continuing to grow, when it is considered that it has already achieved the maximum effort and reach in its existing channels.

In this way, it is necessary to first ensure that your current market is satisfied with your product offering and then go in search of a new audience, in this case a Spanish audience.

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Main advantages of establishing a business in Spain

Whether you want to start your first business project or expand your current company, the advantages of setting up a business in Spain are many, and here are the main aspects to consider:

Business stability

First of all, it is important to mention that the Spanish economy is the 14th largest in the world in terms of GDP. Furthermore, according to the Human Development Index, elaborated by the United Nations, it indicates a progress in the quality of life that currently involves the Spanish people.

On the other hand, the country is ranked 30th in the Doing Business ranking, which classifies countries according to the ease of setting up new businesses.

Simple procedures

One of the frequent concerns when wanting to start or set up a business is the issue of tax formalities and obligations. However, the procedure to be followed within the Spanish territory is quite friendly and feasible for new foreign investors.

Whether you come from a member state of the European Union or not, the regulations in Spain allow the creation of a business in both cases.

Registration in the Central Register of Foreigners and obtaining your NIE will be essential to be able to carry out your commercial activity in the country.

Strategic location

Nowadays, globalization is becoming more and more important when establishing commercial relations, and in this aspect the Iberian Peninsula is favored and is considered one of the most attractive destinations for businessmen.

Spain’s geographical location is privileged because it belongs to the European Union and is easily accessible to neighboring countries. Not to mention that it is a key point to establish connections with South America and the African continent.

Opportunities for foreigners

As already mentioned, being a foreigner is not an impediment to setting up your own business in Spain. In fact, the Government makes available a visa for highly qualified professionals, as well as the existence of a visa for entrepreneurs.

In this sense, one of the advantages of establishing a business in Spain is linked to obtaining a residence permit that authorizes you to stay in the country for a period of more than 90 days, at the same time that you develop a business activity.

Infrastructure and communications network

Given Spain’s extensive road and rail network, business connections are increased and operations are more easily carried out.

Likewise, if we take into account aspects such as the various ports and airports located in strategic areas of the country, trade negotiations can be carried out in an agile and efficient manner.

Finally, sectors such as commerce and tourism are also highly benefited by being able to offer a value proposition that translates into an optimal infrastructure and communication network.

Social prestige

Although it may not seem like it, one of the advantages of establishing a business in Spain is related to the positive perception you reflect in the business world.

By creating a track record and including Spain in your potential market, you will be able to contact various investors, allies, and professionals interested in networking with an entrepreneur who distinguishes himself by offering value to the public.

In short, having a company in one of the autonomous communities can open future doors to continue achieving your business goals and increase your capital.

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Now that you have learned a little more about the advantages of setting up a business in Spain, are you ready to create your own company? If you want to start your procedures with complete peace of mind and find out about the associated regulations, at TAS Consultancy we advise you on the process so that you can carry out your project this 2022!