Malaga at a Glance
Promotion in London: The Mayor and a delegation from the City went to London in November to present at the Foreign Direct Investment expo and to visit with the Spanish Ambassador in the UK. We met entrepreneurs, export companies, consultants focused on foreign markets, relocation companies, translators and international payment companies. We heard first hand reactions to BREXIT and what it means for UK based companies. Now we have several "Malaga Ambassadors" in London and plan to proactively develop business opportunities to bring jobs to our City.
Investor Platform: The City and the Confederation of Malaga Businesses recently launched a new web platform to help investors identify opportunities and local partners. The Investment Attraction Centre aims to foster business activities and facilitate coordination. Check it out at: www.ForInvestorMalaga.com
Reopening: The Malaga Museum of Fine Arts and Archeology opened its doors on Dec. 12 in a new location 19 years after leaving another building to make way for the Picasso Museum. This new museum is in the emblematic and beautiful Customs Palace and has a collection of 2,300 exhibited works. It is the largest in Andalusia and is among the best in Spain for its 19th century painting collection represented by names such as Joaquín Sorolla, Carlos de Haes, Federico de Madrazo, Antonio María Esquivel, Vicente López and Ramón Casas.
Political Stability: Malaga is the largest Spanish city governed by the same political party as the Prime Minister Mariano Rajoy. After 2 general elections and 10-months of political uncertainty, finally on Saturday, Oct. 29, the Spanish Parliament re-elected the Popular Party leader Rajoy. Francisco de la Torre Prados has been the Malaga Mayor since 2000 and has led the city through a dramatic urbanistic, cultural and technological transformation.
Merry Christmas: This year the Malaga Christmas lights feature a unique music and light show which electrifies the main pedestrian street, Calle Marqués de Larios, twice a day during the holiday season. Emblematic areas of the city are illuminated with 1,742,612 points of energy efficient lights. View the show here.
15 million passengers have already arrived this year to the Malaga–Costa del Sol Airport International airport. This is a historic number never achieved before.
By the Numbers
86 % of airline passengers come from foreign cities and ⅓ from the United Kingdom.
96% of the foreign companies in Andalucia expect to maintain or increase their investments in 2017: source the Andalusian Business Climate Barometer.
2,367 self-employed and company hauliers operate in the province. The Malaga logistics federation says that the sector´s profitability has recovered 5%.
5 new routes from Norwegian Airlines connect the Malaga–Costa del Sol Airport International airport with flights to Hannover and Düsseldorf.
The first Spanish Virtual Reality (VR) Arcade opened in Octt. in Malaga. The arcade is supported by the multinational company Learnbrite, a leader in VR technology in the United States. The simulation laboratory located in the Promalaga incubator has different equipment allowing for simulations in a 3D virtual environment. Microsoft, Facebook, Google and Sony, among others, are dedicating resources to be the first to reach users through this technology. VR Arcade is an important tool that can be used by all types of professionals to create interactive simulations or develop new products in sectors such as architecture, health, science, engineering, cinema or education.
The Hungarian Ambassador in Spain, Enikö Györi, the President of the Hungarian Investment Promotion Agency, Róbert ÉSIK, and their delegation were in Malaga to build commercial relationships and to learn about our Smart City projects.
We also had business people visit us from, China, Finland, France, Germany, Hungary, Japan, the Netherlands, Norway, Poland, the UK and the USA during the fourth quarter of 2016.
Frequently Asked Questions
Q: Are there visas available for entrepreneurs who want to start a business in Malaga?
A: Yes. If you are a non-EU national willing to start up an innovative business of particular economic interest in Spain, you can take advantage of the Spanish migration scheme for entrepreneurs. There are two options: - A startup visa, if you are outside of Spain and you need to come to Spain to make the necessary preparatory arrangements to do business here. - A residence permit, if you are currently in Spain and can set up the business. There are neither minimum capital requirements nor a minimum number of jobs to create. The Spanish system is based on a case by case analyses.
Q: What is the general corporate income tax rate in Spain?
A: 25%. Reduced tax rates can be applied in certain situations for newly formed companies. There are favorable dividend and foreign capital gains exemptions. Also, tax credits exisit for R&D activities and innovate technological activities as well as to avoid foreign double taxation. Please consult a local advisor for more detailed information.