How to relocate your business to SpainWhile businesses face challenging times on a global scale, UK investors are viewing Spain as one of the more attractive markets in Europe in which to be based post a Covid-19 economic slump. With concerns over a second lockdown rife, combined with the realisation that businesses can operate remotely from anywhere, entrepreneurs, investors and high net worth individuals are contemplating where they would want to be locked down should this reoccur.
Adding to this the fact of the UK’s impending departure from the EU, makes the UK no longer an appealing destination from which businesses can grow.
As a result, in 2020 we have seen that investors are looking to buy small to medium sized Spanish businesses, like service-based businesses or consultancies that can operate from anywhere; or else relocate their own UK-based business to Spain. The sectors in which investment and acquisitions and mergers are occurring, and that UK citizens are buying from Spaniards for a good price because Spain is suffering financially, are wide-ranging, from solar energy, IT, boat chartering, horse riding, to hospitality.
If you plan on moving to Spain and operating your business from there – whether you are an investor; or you are looking to buy a small to medium sized Spanish businesses; or you are planning to relocate your own UK-based business to Spain – you better consult with a legal expert to ensure that you are fully aware of the best scenario for your situation, and be well-advised as your specific requirement..
Read more in my article in Growth Business published last 14th of October.
Xavier Nova is Partner at Del Canto Chambers
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