business regulations in spain

16 Oct business regulations in spain

We provide training to global corporations in live classroom-based formats, through webinars and also through our cultural awareness digital learning hub, Global Business Compass. Global Business Culture are the world's leading cultural awareness training consultancy. However, if you are thinking of doing business with Spain it is extremely important that you do some homework before diving into any initial relationship-building activities. This World Business Culture profile is designed as an introduction to business culture in Spain only and a more detailed understanding needs a more in-depth exploration which we can provide through our training and consultancy services. What are the key motivators of potential partners or clients in Spain? Studying the business culture in Spain will help you make the right impressions from the outset. For example, being aware of the Spanish respect for hierarchies, which are underpinned by interdependent relationships as opposed to interdependent functions, is crucial. General partnerships (Sociedad colectiva) are regulated by the Spanish Commercial Code. Another way the business culture in Spain differs from that in many western nations is regarding business meetings. Global Business culture is a leading training provider in the fields of cross-cultural communication and global virtual team working. In determining rulings on aspects related to taxation, business laws in Spain consider the legal status (resident or non-resident) of physical or legal entities; this status can make a great difference in determining the tax burden and tax base in these cases. Spain has had a rollercoaster ride over the past twenty years from an economic perspective. The World Business Culture website is a reliable source of detailed information on Spanish business practices and commercial tax regulations for any professional looking to, not just do business in Spain, but to succeed in Spain. How are decisions arrived at and what is the best approach in terms of communication? Business laws in Spain envisage that all companies must exercise accounting for their profits and expenses according to the standards established by the Commercial Code of Spain and according to the documents of the central financial and control administration of Spain. By using our website and agreeing to this policy, you consent to our use of cookies. The World Bank may rank Spain as 30 out of 190 at the time of writing for ease of doing business but doing business in Spain is only simple and seamless if one understands the intricacies of Spain’s commercial customs. Spain is both a member of the E.U. Below, the key points describing the modern Spanish business environment are detailed. Add this to its position as ‘the gateway to South America’ and its geographic proximity to North Africa and Spain starts to look like a highly attractive market. The current economic growth in Spain is fueled primarily by export revenues, by an increase in foreign investments in such fields as tourism, construction, and real estate, and by internal demand; The main challenge of the Spanish economy continues to be the high level of unemployment, especially among young people. Since the approval of the law, “On Supporting Measures for Entrepreneurs and their Internationalization,” the volume of foreign investment has increased even more. Website by Pivotal Marketing, According to the general rule, a Russian company which pays …, Portugal: a country full of energy that welcomes both citizens …, Since 2016, the Mexican government has been working in the …. Business visitors entering with commercial samples should bring letters from their companies attesting to their status, identifying the samples and certifying that the samples are not for sale. If you have any questions concerning how to run a business in Spain or would like to clarify some peculiar features of the Spanish business laws, feel free to contact our specialists at the INEEDSpain service center, who will always provide timely consultations and the information you need. As a key member of the European Union, Spain has well established trading links throughout Europe. Recent Developments in Dividends Payment: Tax Optimization and Additional Questions, Portugal: A Country of Contradictions and Balances. Tensions exist between traditional Spanish work styles that echo the state-run businesses of the Franco era, which fell under the inefficient and over-bureaucratic INI, and the new indigenous Spanish organisations run by a younger generation of managers who were often partly educated outside of Spain. Our website uses cookies. Law on the Prevention of Professional Risks, 1995. Despite these conflicts, it is still possible to highlight the similarities of what to expect when doing business in Spain, whether with an organisation that implements a more traditional approach or working with one of the “new breed” of managed Spanish businesses, which this website does. Spain has had a rollercoaster ride over the past twenty years from an economic perspective. The country has a highly educated workforce and a strong middle-class consumer base. Characteristics of business etiquette in Spain. Our website uses cookies. Home » Country Profiles » Spain » Business Culture in Spain. The main legislative acts of business law in Spain that regulate labor relations are the following: These laws are valid for Spanish citizens who work abroad as well as for Spanish companies, provided that the parties of the labor contract have preemptively chosen Spanish legislation as the applicable law. Combined with the modernisation of business set-up processes, the reduction in the number of licensing requirements and most sectors being open to foreign investment, this makes doing business in Spain an encouraging concept – provided professionals do their research into Spanish business culture and accountancy and tax laws. The most potentially profitable spheres for investment in new businesses in Spain are the following: the IT sphere, tourism, beauty salons, clothing and footwear shops, ateliers, and hair salons. A member of the European Union, Spain boasts a population of around 47 million meaning it has one of the lowest density population rates in the EU. As a result, the procedures for investment and labor migration for non-residents from all over the world have been simplified considerably. Things seem to be picking up however and the hope is that Spain has weathered the economic storm and is poised for a period of solid, manageable GDP growth which can help to drive the country into a more prosperous and sustainable future. For instance, businesses are required by law to maintain a “Libro Diario” (Journal), “Libro de Inventario y Cuentas Anuales” (trial and balances book) and annual accounts, whilst the standard rate of Spanish Corporate Income Tax for Spanish resident companies is 25% and Value Added Tax (VAT) is chargeable at the standard rate of 21% on all sales of goods and services by businesses in Spain, acquisitions of goods in the EU, and imports. ‘Business Culture Essentials’ online course, In-depth courses on key international destinations, Comprehensive guides on doing business in 40+ countries, © Keith Warburton 2020, All rights reserved Business law in Spain regulates all activities in the field of business management, including operation, taxation issues, and corporate social liability. Global Business Culture are the world's leading cultural awareness training consultancy. However, since securing democracy in 1975 following the end of Francisco Franco’s dictatorship, which spanned over three decades, Spain has grown to become the Eurozone’s fourth-largest economy. Website by Pivotal Marketing, According to the general rule, a Russian company which pays …, Portugal: a country full of energy that welcomes both citizens …, Since 2016, the Mexican government has been working in the …. However, some laws remain in effect regardless of the legislation choice, such as the laws aimed at combating discrimination in the work place and regulating minimal salary. Governmental support of small and medium-sized business - this kind of internal investment in Spain is also relatively well-developed. Moreover, local authorities can charge additional property tax, capital gains tax (property-related), new construction tax, and economic activity tax (the latter refers primarily to large businesses). World Business Culture, West Down, Chalk Hill, Soberton, Hampshire SO32 3PH, Legal Notices You can travel to Spain if you are travelling from the European Union, from a country in the Schengen area, or from another country which has a reciprocal agreement with Spain for accepting travellers.

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