Spain is one of the few European countries fully open to foreign investment, new ideas and new businesses. Spanish law makes no distinction between tax residents and tax non-residents when it comes to setting up a company. So any foreigner can start a business in Spain, even without a residence permit.
Every year a large number of new companies are set up in Spain. In 2021 there were more than 100,000 of them. New company registrations peaked in March and June, and the leading provinces were Madrid (more than 23,000), Barcelona (more than 15,000) and Valencia (more than 5,000). 2022 will be no exception. Let’s look at what business you can start in Spain in 2022.
What business to start in Spain: food and drink
So what business should you start in Spain in 2022? First on our list is the food and drink sector.
Statistics tell us that most new companies choose restaurants and food outlets as their main activity. Bars, cafés and restaurants in tourist areas, by the sea and near large urbanisations thrive whatever the crisis. Even a small bar with an open-air terrace, ideally with a sea view, will always be full of customers.
In addition, healthy eating has been growing in popularity in Spain in recent years, so vegetarian and vegan restaurants and cafés are in ever greater demand. And, of course, home-style food to take away or delivered to your door has been the hit of the last two years.
You can see how demand is growing for good-quality ready meals that are as close as possible to home cooking by looking at the largest supermarket chains. The biggest deli and ready-meal counters are found at Carrefour and Mercadona, and their range keeps expanding in response to steadily growing demand.
What business to start in Spain: property and construction
In second place for popularity is business linked to the property market: buying and selling homes, commercial premises and land, and long-term and holiday rentals. Demand for long-term rentals in Spain is growing, especially in large cities and on the coast. That is why many foreign investors choose this route: earning a passive income from property let out on long-term leases.
It also still pays to find cheap properties that need renovation or are up for a quick sale, carry out a cosmetic refurbishment and sell them on.
Despite the health crisis of 2020-2021, Spanish property prices not only did not fall but kept rising, and the number of sales to foreign buyers increased. What is more, according to the notaries’ statistics, foreigners bought the most expensive property in Spain. As a result, estate agency work aimed first and foremost at foreign buyers remains one of the most popular lines of business in Spain.
Construction is the third most popular business in Spain. In 2021 around 5,000 companies were set up in Spain with “residential construction” registered as their main activity.
What business to start in Spain: tourism
What other business can you start in Spain in 2022? Despite the current restrictions and closed borders for tourists from non-EU countries, the flow of European tourists to Spain is not easing. Domestic tourism has also received a significant boost. Of course, beach holidays by the sea are what most people choose. However, rural tourism, turismo rural, is becoming more and more popular. Demand is rising for country houses, farms, country estates and hunting estates that can be used for a hotel business.
Small hotels that closed during lockdown and were put up for sale are being actively bought with an eye to the future. Sooner or later the borders will reopen, and the tourism sector in Spain will be back in full swing.
What business to start in Spain: online business and trade
And, of course, when talking about what business to start in Spain in 2022, we cannot leave out online business. All kinds of training courses, masterclasses, and services of personal fitness trainers, nutritionists and the like are in huge demand.
Online retail is keeping pace: statistics show that the share of purchases made online rather than in physical shops keeps growing. Small businesses prefer the simplest route, dropshipping, which saves them from needing a warehouse and handling logistics themselves. The main thing is to find customers and take orders, while the head office handles dispatch and delivery.
And finally, franchises: a chance to become part of a well-known, established brand without large investments in marketing and advertising, building your own logistics system or looking for suppliers. Franchising is an excellent way to start your own business in Spain in 2022 with the support of professionals.
