1. A priviledged geographical location with excellent communications to the outside world
   

   

2. A modern infrastructure network connecting the island internally.

3. An ideal place for business and professional meetings.

4. An open and dynamic economy.  The island's GDP has grown continuously, following a similar pattern to the other more established European countries.

5. Tourism & Entertainment Clusters.  The Balearic Islands are the second top tourist destination in Spain.  An area of enormous cultural heritage, rich in history, architecture and patrimony, giving the islands their special character and charm.

6. Institutional & Regulatory Stability. Within the European Union, legal and fiscal stability are key to activating the economy and make the Balearic Islands an ideal setting to develop a business.

7. Entrepreneurial Spirit. Mallorca is the headquarters for companies dedicated to tourism, fashion and design, some of international fame, offering quality production, innovative technologies and respect for the environment.

8. Professional and qualified Human Capital.  Good centres for learning like the University of the Balearic Islands, which plays a fundamental role offering a variety of degrees to satisfy the needs of the commercial and industrial network.

9. Superior quality of life & work with an agreeable climate for most of the year, a beautiful and varied landscape, a modern health service and education system, social services and a cultural network.

10. New technologies are being incorporated, particularly at the technological innovation Parc Bit (Parc Balear d’Innovació Tecnológica), located in a privileged setting, where I+D+i activities play a major role; it has an incubator for technologically-based enterprises used by professors, researchers and entrepreneurs with innovative projects trying to generate companies based on technology.

Spain occupies a prominent position on the world stage due to the growing importance of its economy.  It currently boasts the 14th largest worldwide and offers one of the most attractive domestic markets in Europe, occupying fifth position in the EU.

Spain's modern economy is based on knowledge, with 75% of its business activity in the services industry.  It is internationally recognized as a hub for innovation, reaping the benefits of a young, highly qualified and motivated population, who are very cost-competitive by Western European standards, particularly in the case of graduate and post-graduate educated professionals.

Spain is a member of the European Union giving it access to the largest market in the world: the European Market with population of 500 million and an average income per capita of US$35,990.  This means that potential investors can benefit from:

• Free circulation of goods and services, capital and people
• No tarrifs on intra-Community trade
• Single currency
• European Funds and Programmes

The procedure for setting up a business in Spain is straightforward

The types of company structure available in Spain are in line with other OECD countries, not to mention the most advanced countries in Europe.  A wide range of alternatives can be adapted to the different types of investor wishing to invest in or from Spain.  An international investor is free to choose among the different legal entities established under Spanish Law for setting up a company.  The most frequently used is the creation of a branch or filial company (and in Spain the most commonly recognized mercantile structures are the SA - Sociedad Anónima - or public limited company and the SL - Sociedad de Responsabilidad Limitada - or private limited company) besides forming a joint company with other, pre-existing entities in Spain or other legal instruments worthy of consideration.

You can download the relevant documentation with different models for applying for residency and/or a work permit in Spain on the official website Secretariat of State for Migration.