The Audiovisual sector in Spain has grown impressively in recent years. The plan “Spain, Audiovisual Hub of Europe” aims to turn the country into the main audiovisual hub in Europe through national audiovisual production and attracting international investment and talent. If you are interested in learning more about this plan that seeks to transform Spain into an audiovisual hub, stay with us and find out all about it, Come on!
Spain to become the new audiovisual hub thanks to the Audiovisual Sector Support Plan
The Audiovisual sector in Spain has grown impressively in recent years. The plan “Spain, Audiovisual Hub of Europe” aims to turn the country into the main audiovisual hub in Europe through national audiovisual production and attracting international investment and talent. If you are interested in learning more about this plan that seeks to transform Spain into an audiovisual hub, stay with us and find out all about it, Come on!
Foreign investment in Spain is an area that is constantly growing and developing, according to the data recorded. During these last years it has been shown that the country is in a very favorable moment for business, due to its open and competitive economy, which makes it an attractive environment for foreign investors. If you are interested in knowing the details about foreign investment in Spain, this article is for you! Join us!
Foreign investment in Spain is an area that is constantly growing and developing, according to the data recorded. During these last years it has been shown that the country is in a very favorable moment for business, due to its open and competitive economy, which makes it an attractive environment for foreign investors. If you are interested in knowing the details about foreign investment in Spain, this article is for you! Join us!
According to the Digital Society in Spain 2022 Report, prepared by Fundación Telefónica, closing the digital divide must become a priority for all socioeconomic agents. So far, most of the efforts have been focused on eliminating the access gap, but there is still a need to focus on reducing the skills gap. To achieve this, companies play a key role. Do you want to know how your company can ensure digital inclusion? Here we tell you how!
How can you ensure digital inclusion in your company?
According to the Digital Society in Spain 2022 Report, prepared by Fundación Telefónica, closing the digital divide must become a priority for all socioeconomic agents. So far, most of the efforts have been focused on eliminating the access gap, but there is still a need to focus on reducing the skills gap. To achieve this, companies play a key role. Do you want to know how your company can ensure digital inclusion? Here we tell you how!
The year 2022 was a great year for the real estate sector in Spain. Because the investment in real estate has reached a substantial increase in its numbers, according to the reports of the different real estate consultants that can be found in the market. If you want to know the details of how the year ended in the real estate Spain, I invite you to stay with us and discover every detail about it, Let’s get to it!
The year 2022 was a great year for the real estate sector in Spain. Because the investment in real estate has reached a substantial increase in its numbers, according to the reports of the different real estate consultants that can be found in the market. If you want to know the details of how the year ended in the real estate Spain, I invite you to stay with us and discover every detail about it, Let’s get to it!
Last December 1, 2022, the Congress approved in a definitive way the Law for the Promotion of the Startup System, better known as the Startup Law. This law aims to establish a specific regulatory framework to support the creation and growth of these emerging companies, do you want to know more about the Startups Law and how it can benefit you? Then this article is for you!
What is the new Startup Law?
On November 3, the Congress of Deputies approved the Startups Law with a different consensus than usual in the Chamber. The new Startups Law BOE passed with 177 votes in favor. It was expected an agile processing in the Senate to approve it in its entirety by the end of the year so that it could enter into force at the beginning of this 2023.
This Law is the Spanish Government’s regulation that seeks to facilitate the creation and development of new technology-based and innovative companies. In addition, it seeks to make the country a reference in terms of entrepreneurship at European level.
There is no doubt that the legal framework is one of the aspects that can most promote the creation of new companies. Consequently, it also boosts the economy.
But how will the government achieve this? Well, through a series of tax incentives, favorable regulations, elimination of bureaucratic obstacles and the relaxation of many of the procedures.
In that sense, the Startup Law is governed by the following objectives:
What are the main changes proposed by the Startups Act 2022?
Ten months after its arrival in the House, the Startup Law retains its main elements. But, at the same time, it has introduced important novelties such as:
Incorporation of cooperatives to the regime of emerging companies.
If you are a self-employed entrepreneur who wants to take advantage of the benefits of the Startup Law, you will have to set up a Limited Company (SL) or a cooperative. These, thanks to the new amendments, are also an option.
There will be a certifying company and the administrative silence will be positive
The Empresa Nacional de Innovación, S.A. (ENISA) will certify which companies are considered startups and which do not meet the conditions. But now, with the new changes introduced, it will be able to enter into agreements with third party public or private collaborating entities.
Positive administrative silence is also established. In other words, if your company applies to ENISA for certification as a startup and there is no pronouncement from ENISA within three months, this means that the company will obtain a favorable resolution.
Requirements to certify that a company is a startup
The Startup Law goes deeper into different criteria when evaluating the requirements that companies need to be certified as startups. The analysis of the degree of innovation and the scalability of the business model is more detailed.
In addition, criteria such as competence, team training, reliance on suppliers, technological innovation and more will be weighted.
Training
The new Startup Law establishes that graduates of vocational training or higher education will also be able to apply for residency for highly qualified profiles. In this way, the benefits of these may be equated to vocational training studies.
Serial entrepreneurs
The figure of serial entrepreneurs, i.e., those who have successfully launched a startup before, is recognized. In this case, they are granted the benefits of the Startup Law to the first four companies they create. Thus, the previous limitation of three companies is extended.
In Spain, these entrepreneurs represent 62%, according to the Entrepreneurship Map. For many, this recognition is really important. This is because the more experience and learning they have, the more likely they are to succeed and, in addition, niches in which to innovate can be detected.
Bonus of the quotas
It establishes the rebate of the quotas for self-employed workers of startups and companies that develop multiple activities. That is to say, if you are a freelancer who starts your activity in a startup while working in another company, you will be 100% bonus for the quota during the first three years, to exempt them from having to pay twice.
Turnover
The business threshold is increased to 10 million euros in order to consider a company as a startup. One of the requirements is that “it does not reach a turnover of more than ten million euros”. However, the original text established a limitation of 5 million euros.
Tax treatment for venture capital entities
A different and specific tax treatment is established for the so-called carried interest, i.e., venture capital entities. They will be taxed as earned income with a 50% tax exemption.
Digital nomads
The visa and special tax conditions for international teleworkers, better known as “digital nomads”, are established. The visa has a duration of one year and a special tax regime is contemplated for this type of worker.
Likewise, they will be taxed under the IRNR (Non-Resident Income Tax) and not under the IRPF (Personal Income Tax).
Do you want to develop your business idea in the Spanish territory? The Startup Law can be a great option for you. If you need legal or tax advice to achieve the success of your business, in TAS Consulting the best professionals are at your disposal to accompany you every step of the way. Contact us through tasconsultoria@tas-sl.es and schedule your free appointment.
What does the new Startup Law in Spain consist of?
Last December 1, 2022, the Congress approved in a definitive way the Law for the Promotion of the Startup System, better known as the Startup Law. This law aims to establish a specific regulatory framework to support the creation and growth of these emerging companies, do you want to know more about the Startups Law and how it can benefit you? Then this article is for you!
What is the new Startup Law?
On November 3, the Congress of Deputies approved the Startups Law with a different consensus than usual in the Chamber. The new Startups Law BOE passed with 177 votes in favor. It was expected an agile processing in the Senate to approve it in its entirety by the end of the year so that it could enter into force at the beginning of this 2023.
This Law is the Spanish Government’s regulation that seeks to facilitate the creation and development of new technology-based and innovative companies. In addition, it seeks to make the country a reference in terms of entrepreneurship at European level.
There is no doubt that the legal framework is one of the aspects that can most promote the creation of new companies. Consequently, it also boosts the economy.
But how will the government achieve this? Well, through a series of tax incentives, favorable regulations, elimination of bureaucratic obstacles and the relaxation of many of the procedures.
In that sense, the Startup Law is governed by the following objectives:
What are the main changes proposed by the Startups Act 2022?
Ten months after its arrival in the House, the Startup Law retains its main elements. But, at the same time, it has introduced important novelties such as:
Incorporation of cooperatives to the regime of emerging companies.
If you are a self-employed entrepreneur who wants to take advantage of the benefits of the Startup Law, you will have to set up a Limited Company (SL) or a cooperative. These, thanks to the new amendments, are also an option.
There will be a certifying company and the administrative silence will be positive
The Empresa Nacional de Innovación, S.A. (ENISA) will certify which companies are considered startups and which do not meet the conditions. But now, with the new changes introduced, it will be able to enter into agreements with third party public or private collaborating entities.
Positive administrative silence is also established. In other words, if your company applies to ENISA for certification as a startup and there is no pronouncement from ENISA within three months, this means that the company will obtain a favorable resolution.
Requirements to certify that a company is a startup
The Startup Law goes deeper into different criteria when evaluating the requirements that companies need to be certified as startups. The analysis of the degree of innovation and the scalability of the business model is more detailed.
In addition, criteria such as competence, team training, reliance on suppliers, technological innovation and more will be weighted.
Training
The new Startup Law establishes that graduates of vocational training or higher education will also be able to apply for residency for highly qualified profiles. In this way, the benefits of these may be equated to vocational training studies.
Serial entrepreneurs
The figure of serial entrepreneurs, i.e., those who have successfully launched a startup before, is recognized. In this case, they are granted the benefits of the Startup Law to the first four companies they create. Thus, the previous limitation of three companies is extended.
In Spain, these entrepreneurs represent 62%, according to the Entrepreneurship Map. For many, this recognition is really important. This is because the more experience and learning they have, the more likely they are to succeed and, in addition, niches in which to innovate can be detected.
Bonus of the quotas
It establishes the rebate of the quotas for self-employed workers of startups and companies that develop multiple activities. That is to say, if you are a freelancer who starts your activity in a startup while working in another company, you will be 100% bonus for the quota during the first three years, to exempt them from having to pay twice.
Turnover
The business threshold is increased to 10 million euros in order to consider a company as a startup. One of the requirements is that “it does not reach a turnover of more than ten million euros”. However, the original text established a limitation of 5 million euros.
Tax treatment for venture capital entities
A different and specific tax treatment is established for the so-called carried interest, i.e., venture capital entities. They will be taxed as earned income with a 50% tax exemption.
Digital nomads
The visa and special tax conditions for international teleworkers, better known as “digital nomads”, are established. The visa has a duration of one year and a special tax regime is contemplated for this type of worker.
Likewise, they will be taxed under the IRNR (Non-Resident Income Tax) and not under the IRPF (Personal Income Tax).
Do you want to develop your business idea in the Spanish territory? The Startup Law can be a great option for you. If you need legal or tax advice to achieve the success of your business, in TAS Consulting the best professionals are at your disposal to accompany you every step of the way. Contact us through tasconsultoria@tas-sl.es and schedule your free appointment.
Spain is once again positioned among the top 10 positions worldwide in the PPA ranking as one of the most attractive markets for the closing of this type of agreements. This appears in the Renawable Energy Country Attractiveness Index (RECAI) report, where Spain appears among countries such as the United States, which tops the list, China and Germany. Do you want to know more about what makes Spain so attractive for investing in renewable energies? Then this article is for you!
Spain rises to number 8 among the most attractive countries to invest in renewable energies
Spain is once again positioned among the top 10 positions worldwide in the PPA ranking as one of the most attractive markets for the closing of this type of agreements. This appears in the Renawable Energy Country Attractiveness Index (RECAI) report, where Spain appears among countries such as the United States, which tops the list, China and Germany. Do you want to know more about what makes Spain so attractive for investing in renewable energies? Then this article is for you!
The Business Creation and Growth Law, better known as the Crea y Crece Law, includes a series of measures and reforms designed to promote business development and boost entrepreneurship in the country. Among them, it stands out its fight against commercial delinquency. If you want to know which are the measures to combat late payment proposed by the Crea y Crece, then this article is for you!
What are the measures proposed by the Crea y Crece Act to combat late payment?
The Business Creation and Growth Law, better known as the Crea y Crece Law, includes a series of measures and reforms designed to promote business development and boost entrepreneurship in the country. Among them, it stands out its fight against commercial delinquency. If you want to know which are the measures to combat late payment proposed by the Crea y Crece, then this article is for you!
Recently, in November, the new tax on large fortunes was announced by the Minister of Finance. This new tax represents the Spanish government’s response to the tax cuts made by some autonomous communities, mainly in the wealth tax. Do you want to know the keys to the tax on large fortunes in Spain? Then this article is for you!
What is the tax on large fortunes in Spain and how does it affect you if you are a taxpayer?
Recently, in November, the new tax on large fortunes was announced by the Minister of Finance. This new tax represents the Spanish government’s response to the tax cuts made by some autonomous communities, mainly in the wealth tax. Do you want to know the keys to the tax on large fortunes in Spain? Then this article is for you!
Spain brings for this 2023 a new tax reform that includes several tax issues that should be known. Among them is the increase in tax burdens for large fortunes and companies, the decrease in VAT on feminine hygiene products and the increase in the reduction for work income. Stay until the end of this article and learn everything that the new 2023 tax reform in Spain implies!
Everything you need to know about the new 2023 tax reform in Spain
Spain brings for this 2023 a new tax reform that includes several tax issues that should be known. Among them is the increase in tax burdens for large fortunes and companies, the decrease in VAT on feminine hygiene products and the increase in the reduction for work income. Stay until the end of this article and learn everything that the new 2023 tax reform in Spain implies!
It is important to study the new Data Protection Law in Spain in every HR department. This can avoid sanctions, reprimands, as well as create a safe organizational climate. If you are concerned about the status of your company with respect to the new Data Protection Law in force, it is imperative that you pay attention to the implications it entails, find out here!
5 tips for your HR department to comply to the letter with the new Data Protection Law
It is important to study the new Data Protection Law in Spain in every HR department. This can avoid sanctions, reprimands, as well as create a safe organizational climate. If you are concerned about the status of your company with respect to the new Data Protection Law in force, it is imperative that you pay attention to the implications it entails, find out here!