Relocation Advice - Spain
AP Executive offers recruitment services in Spain. Please contact our consultants for further information or use our job search function to see our current jobs in Spain.
Overview:
Spain is a country well known for tapas, fine art and its "buzzing" night life. It's 504,750 kilometres squared with a mixture of terrains - quite a geographical beauty. Spain is a constitutional monarchy; the King is head of state with a democratic elected congress of deputies. The proclaimed king, Juan Carlos, has had the crown since November 1975. Spain's GDP is USD 1.461 Trillion with GDP per capita USD 31,700.
Why choose Spain:
Spanish income tax is relatively high in comparison to other European countries; 24% being the lowest on an income of up to EUR 17,707 and 43% on income exceeding EUR 53,407. However, if ones income does not exceed EUR 22,000 then they are not obliged to prepare a declaration nor pay tax. Capital gains in Spain are taxed as ordinary income, this varies between a 19%-21% rate. The corporate income tax rate for Spain is 30% with some exceptions that result in a lower 25% rate.
Spain is a booming country in terms of its financial industry, and has been for years. One of the most successful banks during the economic crisis was Spanish (Santander). There are various opportunities to be had in terms of business in Spain, ranging from asset management to IT consultancy.
As Spain is a part of the European Union, EU nationals form other countries are not obliged to file for a work permit in order to be able to live and work in Spain. Furthermore, in 2005, there was new legislation passed by the Spanish government on immigration - they announced a general amnesty for illegal immigrants. By registering with the relevant authorities, formerly illegal immigrants were able to legitimise their presence in Spain. Nevertheless, non EU-nationals must apply for a work permit or visa if aspiring to live and work in Spain. Work permits must be applied for at the Foreigners' Office (Oficinas de Extranjeros) or to the provincial office of the Ministry of Labour (Delegación Provincial del Ministerio de Trabajo), if you are already in Spain. If you are not in Spain, a work permit must be applied for at the Consular office of your home country.
Setting up a company is Spain is pretty straightforward, although time-consuming unlike Belgium for example (another EU country). Furthermore, apart from Costa del Sol, a reasonable level of Spanish is required in order to comply with all necessary documents and procedures. Due to this, a translator/advisor is recommended if wishing to establish.
Career Opportunities
· Asset management
· Wealth management
· Private Banking
· Commercial Banking
· Legal positions
· Trusts
· Funds
· IT
· Commercial
· Tax/compliance
· Investment
Management
· Real Estate/Property
development
