Spain

OVERVIEW

Spain has been an EU member state since 1986 and is part of the eurozone. Being an Organization for Economic Cooperation and Development (OECD) member state, Spain includes in its international tax treaties the exchange information clause between the states involved.

With regards to foreign exchange control, although deregulation is the dominant feature in exchange control and foreign investment matters, there are certain reporting requirements.

As a general rule, foreign investments are only subject to reporting requirements once the investment has been made, while exchange control and capital movements are fully deregulated in Spain, creating freedom of action in this regards in all areas.

Rapid growth in international trade and foreign investments in recent years has made Spain one of the most internationally-oriented countries in the world.

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