Promoter of foreign investment
This nation has been classified as one of the most important economies in the world, which according to ICEX Spain Export and Investment, an entity attached to the Spanish Secretary of State for Trade, is fifteenth in size among the main 25 economies on the planet and has with a great capacity to attract foreign direct investment (FDI) according to the AT K Kearney FDI Confidence Index Report, where it occupies position 11. This has been achieved through its strong domestic market and the possibility it has investors to operate with third markets from Spain.
Also thanks to a privileged geostrategic position within the European Union, which facilitates access to a market of more than 2,300 million potential customers throughout the EMEA region (Europe, the Middle East and Africa). It also has a close relationship with Latin America, which makes it the ideal platform for business management and development.
Spain is a modern economy where knowledge is the most important pillar and where the services sector represents more than 74% of economic activity, according to data from the National Statistics Institute of that nation last year. It is an epicenter nation of innovation in the region that has a young and well-qualified population with a very competitive cost compared to the nations of Western Europe.
Favorable network of fiscal agreements to channel investments
According to the institutional portal of the Ministry of Finance and Public Administration of Spain, double taxation agreements (CDI) or double taxation treaties are essential to implement measures that help avoid or eliminate double taxation, as its name implies. These types of treaties are essential to promote foreign investment, whether foreign in Spain or with Spanish capital abroad, as they provide investors with legal certainty and reduce the taxation of said investments.
Currently, according to the ICEX Spain Export and Investment, an entity attached to the Spanish Secretary of State for Trade, the country has 99 agreements in force and is awaiting the final signing of another 5 with Bahrain, Montenegro, Namibia, Peru and Syria.
Additionally, given that Spain is the second largest investor in Latin America, it has also established 13 double taxation and investment protection agreements with the countries of the region and this places it at the head of the European countries that have signed the most tax treaties with Latin America. Latin. It is important to note that the agreements signed with some of the strongest economies on the planet can represent 95% of world GDP.
Along with these double taxation treaties, the country has signed several information exchange protocols with offshore jurisdictions, with the aim of avoiding tax fraud. For this reason, this nation annually exchanges lists of taxpayers with the countries with which it has established the treaty.
Modern transport infrastructure
Spain has a network of highways and motorways of more than 17,228 kilometers, which is constantly updated with the aim of increasing its efficiency and this has positioned this nation as the first European network of highways and motorways in Europe. In fact, with the implementation of its Infrastructure, Transport and Housing Plan (PITVI), the Government seeks to further improve its road network and expand the number of high-capacity roads by investing 36,439 million euros.
Regarding rail transport, the nation has a network of 16,000 kilometres, where high-speed train lines are a priority and which, for example, currently allow connection via high-speed train with 31 Spanish cities. In recent years, the nation has been a world leader in high speed, going from 550 kilometers to more than 3,400 kilometers.
On the other hand, the air transport that connects the main Spanish cities through 46 airports also connects Spain with the main cities of the world. This nation is also an important crossing point for lines linking America and Africa from Europe. The Government, through its 2021 Air Navigation Operational Plan, will invest close to 127 million euros to achieve the recovery and technological transformation of its aeronautical sector.
According to ICEX España Exportación e Inversiones, an entity attached to the Spanish Secretary of State for Trade, with the aim of minimizing restrictions on inter- and intra-port competition and encouraging the competitiveness of its ports in the world economy, the Government, in addition to updating The Ports Law also authorized the Port Accessibility Investment Plan to optimize the land accessibility of the port system through an investment of more than 1,418 million euros.
Free regulation of currency operations
Spain eliminated the vast majority of price controls except for sectors controlled by the national government and those under national regulation. Likewise, it lifted all restrictions on operations in foreign currency, except for certain movements of capital intended to prevent money laundering and tax fraud.
Highly Skilled Labor
With an active population of 23 million people who are well-qualified and capable of adapting to technological changes, Spain, in addition to having a working capital specially prepared in the scientific and technical areas, also manages one of the most profitable labor costs in the European Union.
Additionally, with the annual increase in the arrival of immigrants to the country, in addition to improving diversity in the labor market, the construction and service industries are also promoted.