Starting a business in Spain as a foreigner is a great idea. Not only will you have access to the European and Latin American markets, but you’ll also be able to enjoy the country’s laid-back lifestyle and warm Mediterranean climate while you get set up.
If you’re thinking of expanding your existing company in Spain or starting a new life with your family abroad, understanding the options and process of establishing your business will help you succeed.
Ease of Doing BusinessAccording to the 2018 World Bank Ease of Doing Business Survey, Spain is ranked 28th out of 190 countries for the ease of doing business. This means that it’s easier to trade in Spain than in many neighbouring countries.
Entrepreneurial CultureMadrid, Barcelona, and Valencia are hubs for start-ups and are very friendly to entrepreneurs. The relationship-oriented culture is also perfect for creating social and business connections, which is essential for anyone starting a new company.
Infrastructure
While Spain has a bit of a reputation for having become modernised later than its neighbours, this country today has excellent logistics and infrastructure, making it easier than ever to run a successful business.
Languages
Spoken in SpainWhile Castilian Spanish is spoken by 98% of the population, there are other co-official languages spoken in the country’s autonomous communities. In Barcelona, the co-official language is Catalan. In Valencia, the co-official language is Valencian (a variety of Catalan).If you already speak Castilian Spanish, you should have no trouble getting around in any of the country’s major cities. Over time, learning and incorporating the local language(s) will help you expand your customer base.
Business Culture in SpainBusiness culture in Spain is far more laid-back than business culture in countries like Germany. While Spanish businesses no longer stop for siesta, long lunch breaks are common, and shops typically stay open until late.If you’re used to everything happening on time, you might need to adjust your expectations when starting a business in Spain as a foreigner. Meetings often run late into the evening, and what doesn’t get done today gets left for mañana.