Many people move to Spain and choose to set up their own business instead of having to rely on the local job market and tough competition in a country with traditionally high unemployment levels.
While there are many different types of jobs you could set up aimed at tourists or other foreigners, if you have the experience and the contacts, an import-export business could be a great idea.
The import-export industry counts for more than a half of Spain’s gross domestic product (GDP) and is an important part of the economy here.
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The top export products in Spain are refined petroleum, cars and vehicle parts, delivery trucks, medications and agricultural products, while the top imported goods to Spain are crude and refined petroleum, petroleum gas, vehicle parts, steel and iron.
While most of these are done by big multinational companies there could be opportunities to focus on food products, crafts from other countries, fashion, furniture or even electronics.
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We recently wrote an article looking at some of the best food products you could export from Spain that are in high demand abroad.
The top export destinations for businesses in Spain are France, Germany, Italy, Portugal and United Kingdom, while countries Germany, France, China, Italy and the Netherlands are the top import countries. While the trade routes between these countries may be easier to navigate in terms or paperwork, that doesn’t mean that you can’t choose other countries to work with too.
Remember that as a member of the European Union (EU), Spain has trading regulations at a community level which you need to abide by.
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In Spain there are three main types of import-export businesses. The first is an export trading company which identifies emerging market trends and targets foreign buyers interested in purchasing those products. The second is an export management company who work on behalf of the seller and specialise in a niche product or industry.
The third is an import and export trader who is an independent intermediary who directly purchases products from abroad and then resells them, earning a profit.
Step 1: When you’ve identified your type of business and products you want to import or export, the first step is to create a business plan. It’s advisable to work with a specialised lawyer on this who can help you work out all the small details such as licensing, insurance and permit requirements.
Step 2: The second step is to register your business with your regional government. The Spanish Government Administration website can provide you with the details on how and where to register, depending on your business structure and where you're based in the country. Be aware, you may also need to register in the country you’re importing to or exporting from.
Step 3: The third step is to to apply for your business licence. You won’t need this for all businesses, it will depend on the products you’re importing or exporting. For example you may need to meet certain need health and safety standards, environmental regulations, or trade restrictions.
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Step 4: If you plan to import goods into Spain, you must register as an importer with the Spanish Tax Agency through the Economic Operators Registration and Identification (EORI) and comply with current regulations. This also involves having to pay fees such, customs duty and taxes.
You will also need to get a tax identification number or NIF.
Step 5: Next you need to provide a set of legal documents, which attest the quality of the products, their country of origin etc, this is done through a customs guarantee, as well as single administrative documents (SAD). You can find out more information on them here.
Step 6: The final step of setting up your company involves taking out insurance to cover you for any eventuality.
Once you’ve set everything up, you’re ready to get to work – finding your target market, creating a marketing strategy, finding the right products, setting prices, organising shipping documentation, getting the necessary licences for your products, as well as certificates or origin.
Remember, whatever type of import-export business you choose to set up in Spain it’s important to get professional help as there are so many rules, documentation and regulations you’ll need to follow for your specific business and you need to make sure you're doing everything legally and correctly.
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