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A practical Guide to doing Business in the City

BARCELONA, A GOOD INVESTMENT

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A practical Guide to doing Business in the City

BARCELONA, A GOOD INVESTMENT

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Barcelona, a good investment : practical guide to doing business inthe cityI. Borrell, Xavier, ed. II. Barcelona. Sector de Promoció EconòmicaIII. Centre d'Innovació i Desenvolupament Empresarial (Catalunya)1. Inversions estrangeres _ Barcelona _ Manuals, guies, etc. 2.Barcelona _ Comerç _ Manuals, guies, etc. 3. Barcelona _ Condicionseconòmiques _ Manuals, guies, etc.338.1(467.1 Ba Barcelona)(036)

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2

A practical Guide to doing Business in the City

BARCELONA, A GOOD INVESTMENT

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Barcelona is an open, tolerant andcosmopolitan Mediterranean city fullof light; a remarkable urban space

with a strong personality. The atmospheretransmitted by the city encourages creationand innovation, turning Barcelona into one of

the European cities with the highest potential for developing newgeneration activities. In the current globalisation framework, it isprecisely these characteristics which provide value to the city anddifferentiate it from the rest: it is this personality, both cosmopolitanwith a great international vocation, and strongly rooted in its localaspects, which attracts our visitors and keeps them here.

Faced by growing international competition, Barcelona and itssurrounding area, with its population of 4.6 million, is one of themost important economic metropolises and has becomeconsolidated as one of the main European capitals for business. Acity which boosts its own personality and diversity and encouragestalent and creativity; a laboratory where ideas are conceived and asignificant creative community which attracts and receives the bestcompanies and professionals is brought together. Its greatinternational projection, privileged geographical situation andaccessibility, added to the complex business network in its area,make it a very appealing location for business.

Barcelona is now reinventing itself, its eyes on the future, with an urbanand economic transformation which will provide over 7 million squaremetres for new economic activity. The urban reform projects which aredefining our future will enable us to improve access to the city, as well asits connections and communications, increase the offering and servicesavailable to businesses, and improve quality of life for all citizens. All urbanprojects currently in progress are increasing Barcelona's appeal andconsolidating the city as the main urban centre in the westMediterranean. The following are particularly noteworthy due to their size:the transformation of the Poblenou industrial district, the new 22@bcntechnology district, the arrival of the new High Speed Train, the Delta Plan- with extensions to both the port and the airport - and the extension ofthe International Trade Fair (Fira Internacional), as well as the newconference centre with capacity for 15,000 delegates.

Barcelona is moving towards the “laboratorycity” model. This refers to a city where newideas and concepts are emerging, a city

which is competitive not in terms of productioncosts but in innovation and creativity, where pro-ducts are designed or improved, and where theatmosphere, diversity and range of uses promote the creation and trans-fer of knowledge. Barcelona, cutting-edge, dynamic and entrepreneurial,sets trends. With its long industrial tradition, the Barcelona area is a veryimportant foreign investment attraction centre, especially for industry andadvanced services. 25% of foreign investment in Spain is concentratedhere, with 2,700 registered businesses, most of them in Barcelona city.There is a constantly growing number of forward-looking companieswhich choose to set up in Barcelona, and we are proud to observe that,once established among us, their expectations are fully met. And theinternational perception of Barcelona's potential as a new economy city isalso growing in importance.

This has been shown by many international economic indicators, suchas the recent Paris Chamber of Commerce study placing Barcelona'sarea of influence as the second most appealing region for foreigninvestment, second only to London; or the annual study conducted byBritish consultancy Cushman & Wakefield Healey & Baker placingBarcelona as the fifth best city for business in Europe and the top cityin Europe in terms of progress.

But Barcelona isn't just a city for working; it's a city for living. With itsstable climate, its openness to the sea, a magnificent selection ofculture and leisure options, a broad network of education and researchinstitutions at every level, a prestigious health service accessible toeveryone, and a serious commitment to sustainability, Barcelona hasthe best quality of life in the whole of Europe. We are introducing thefirst edition of the Guide to Barcelona, a Good Investment, jointlyprepared by the Economic Promotion Sector of Barcelona City Counciland Centre for Innovation and Business Development (CIDEM) of theCatalan Government's (Generalitat de Catalunya) with the aim ofoffering useful and practical information to everyone wishing to investand do business in Barcelona and become acquainted with its manycharms.

We hope that this new guide will help make the decision to settle inBarcelona easier, as well as accelerate the process of establishing a neweconomic activity.

Jordi Portabella Second Deputy Mayor of Barcelona

Joan Clos Mayor of Barcelona

5

spite of its small size, Catalonia has agreat variety of cultural activities andvenues. It also provides a first rateenvironment both for living and forbusiness. This helps keep companystaff satisfied and stable.

According to a study conducted byCushman & Wakefield Healey & Baker,Barcelona is the best place for quality oflife, a position it has maintained since1996. Its quality of life and theperception of the Barcelona area as acreative and cosmopolitan environmentare valued as strong points for attractingand retaining talent and knowledge.Proof of this is provided by the recenttrend of international entrepreneurschoosing Barcelona for a new economicactivity. In the intensive globalisationprocess undergone in recent decadesby the international community,Catalonia has been able to establishitself as the ideal location for setting uplarge multinational companies. As aresult of this investment process,Catalonia has become consolidated asone of the most dynamic regions inEurope in terms of attractingmultinationals: there are currently 3,000such companies in Catalonia (600 ofwhich are industrial businesses).

Conscious of the importance andpositive effects of foreign directinvestment (FDI), and making use of itsexclusive powers in the industry context,the Generalitat has put into practice anactive policy of encouraging businessinvestment in Catalonia. We are alsomaking a serious and clearcommitment at the Generalitat to boostour companies' research, developmentand capacity for innovation. We want toplace Catalonia in a top position inEurope.

Catalonia is a privileged part ofEurope for business activities.Countless multinationals from

around the world, specialised in varioussectors, have chosen Catalonia toconduct their business activities.

Barcelona City Council and the Centrefor Innovation and BusinessDevelopment (CIDEM) have joinedforces to create this publication which isintended as a basic and simple adviceand guidance tool for anyoneconsidering starting up a business inBarcelona. This guide is structured inoutline, in order to give you a generalidea of the steps to be taken intoaccount when starting up a business. Atthe end of the guide, you will find thewebsites and useful addresses you canuse to obtain more detailed informationon each step. We have also included alist of the main incentives and subsidiesavailable to businessmen andentrepreneurs.

Catalonia attracts a lot of investment,particularly for industry and advancedservices. This has been shown by thefact that already established companiesoften make a strategic commitment,carrying out new investments in order tomake their subsidiaries evolve towardshigher value added activities. The mainreason for this is the high satisfactionlevel of companies already operating inCatalonia. Barcelona and itssurrounding area, with its population of4.3 million, constitutes one of the maineconomic metropolises in Europe,aiming to attract not just the bestbusinesses but also the bestprofessionals, who are the ones who willgenerate wealth and increaseproductivity. Catalonia's well-being anddevelopment are at European levels. In

Catalonia offersc o m p a n i e smaking acommitment toour territory theperfect balancebetween a highquality communications infrastructure,an excellent university and researchnetwork, highly qualified labour force, awide range of suppliers and an enviablequality of life.

The Centre for Innovation and BusinessDevelopment (CIDEM), an organisationbelonging to the Generalitat's Ministry ofEmployment and Industry, providesprofessional and confidential support,ranging from planning toimplementation, to all companieswishing to invest in Catalonia, throughthe Catalonian Investment Agency(ACI). It also provides ongoing help forfuture needs. The agency, which has itsheadquarters in Barcelona, a branch inMadrid, and foreign offices in New Yorkand Tokyo, offers its help and adviceservices tailored to the needs ofcompanies which are consideringsettling in Catalonia or expanding theirexisting business in this region. TheAgency's mission is to boost financiallyand technologically sound productivebusiness investments in Catalonia,creating wealth and high quality, stablejobs. We must direct all our efforts toattracting new projects, in the form ofproductive, strategic and innovativeinvestments, to our territory.

We look forward to welcoming you toCatalonia.

Jordi Carbonell i SebarrojaSecretary of IndustryMinistry of Employment and IndustryGeneralitat de Catalunya

6

1 ECONOMIC PRESENTATION:

1.1 I Ten Reasons to Invest in Barcelona 09

1.2 I Main Economic Indicators 10

1.3 I Location and the Property Market 17

1.4 I Trade Fairs and Conferences 22

2 HOW TO START A BUSINESS IN BARCELONA:

2.1 I Types of Business Organisation 25

2.2 I Steps For Starting Up a Business 27

2.3 I Tax Regime, Tax and Allowances 29

2.4 I Work and Residence Permits 32

2.5 I Employment Regime 35

2.6 I Incentives and Subsidies and Financing 39

3 USEFUL ADDRESSES:

3.1 I By Topic 43

3.2 I In Alphabetical Order 44

CONTENTS

A practical Guide to doing Business in the City

BARCELONA, A GOOD INVESTMENT

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1.1TEN REASONS TO INVEST IN BARCELONA

Barcelona offers very diverse elements which make it a really appealing place to live, work and do business. The city isnow a very interesting place for new economic activity, as shown by some of the good reasons to invest in it.

1. Strategic geographic locationTwo hours by road from France and oneday from the main European cities. Asouthern door to Europe, with its ownport, airport, Zona Franca, logisticsparks, international trade fair centre andthe city within a radius of 5 kilometres.

2. Complete transport infrastructure

A motorway network connected toEurope; the fastest-growing airport inEurope; Spain's leading port and the lar-gest container port in the Mediterranean;an extensive underground and overlandtrain and bus network; High SpeedTrains planned for 2007 and a connec-tion with the European network in 2009.

3. The centre of a large, dynamicand diverse economic area

4.6 million people live in the Barcelonaarea. It is the capital of Catalonia, with apopulation of 7 million, and the centre ofthe Mediterranean Basin, a largeeconomic area with 18 millioninhabitants. It accounts for 70% ofCatalonia's GDP. Its growth in 2004 was3.1% of GDP, above the Spanish andEuropean average, and it is the sixthlargest urban agglomeration, as well asthe fifth largest industrial concentration,in Europe.

4. Successful foreigninvestment

It is the fifth best city for business inEurope and accounts for 20% of annualforeign investment in Spain. There are2,700 foreign companies establishedhere, with a satisfaction level of 97%.Barcelona is also becoming consolidatedas a centre for multinational companies'European divisions.

5. An internationallyacknowledged location

Barcelona has some of the highestpositions in several internationalrankings, which rate its urban reality, itsability to attract foreign capital, itsentrepreneurial nature and the quality oflife enjoyed here very highly.

6. Human resources prepared for the future

A great responsibility ethic, highproductivity (one of the highest inEurope, according to the OECD), fivepublic universities, two privateuniversities and four business schools(ESADE, IESE, EADA and IESKA), 27international schools, great newtechnology penetration, and a favourabledisposition towards innovation andcreativity.

7. Excellent quality of lifeThe top European city for quality of life. Astable climate, sunshine, beaches, ski, agenerous range of culture and leisureactivities, a network of 4,500 educationinstitutions, a modern and accessiblehealth service, easy access and travel by

public transport. The city is surrounded

by nature reserves.

8. Large progressive cityplanning projects

The largest city planning and

infrastructure transformation. Llobregat

Area: a commitment to logistics and

internationalisation, with the port and

airport extensions. Besòs Area: urban

renewal, sustainability and research

centres. La Sagrera-Sant Andreu: the

arrival of high speed trains. Poblenou

22@: the new technology and innovation

district. Two new districts: La Marina and

El Besòs, with a combination of

residential premises and economic

activity.

9. A Competitive set of availableproperties

A large number of offices, commercial

premises and industrial buildings with

excellent value for money. The

construction of residential buildings is

also on the rise.

10. Unique private-publiccooperation

Barcelona City Council and the Catalan

Government have made a serious

commitment to business. The success of

the traditional private-public cooperation

has been key to Barcelona's

transformation.

In the following pages, you will find moredetailed information on Barcelona'seconomic reality.

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Paris

Rome

Milan

Frankfurt

Berlin

Dublin

Oslo

Copenhagen

Brussels

Amsterdam

Vienna

Prague

Geneva

Stockholm

Barcelona

London

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1.2.1 BASIC INFORMATIONABOUT THE CITY

Location

Barcelona is one of the largest cities

in Europe. It is the centre of a large

metropolitan area of over 217

municipalities with 4.6 million

inhabitants. It is the economic,

cultural and administrative capital of

Catalonia, which is located in

northeast Spain on the Mediterranean

shore.

It is at the forefront of a 17-million-

inhabitant emerging area of economic

activity in southern Europe, aMediterranean arch including theBalearic Islands, the AutonomousRegions of Valencia and Aragon, andsoutheast France.

Barcelona metropolitan area is thesixth largest urban agglomeration, aswell as the fifth largest industrialconcentration, in Europe.

Demographically, the city ofBarcelona is constantly growing richerand more diverse; with 160nationalities in 2004.

Barcelona currently has over 230,000foreign residents. This is 14.6% of the

1.2MAIN ECONOMICINDICATORS

AREA AND POPULATION (2005)

Population Area (km2) Density (inhabitants/km2)

Barcelona 1.578.546 101 15.671

Metropolitan area 4.673.648 3.236 1.427

Catalonia 6.813.319 31.895 210

Spain 43.197.684 505.988 84

Source: Barcelona City Council and the Spanish National Institute of Statistics (INE)

Source: Barcelona City Council

EVOLUTION OF FOREIGN POPULATION

January 2005 % of the total foreign population

Europe 52.835 22,9

Asia 36.810 15,9

Africa 20.818 9

America 120.197 52,1

Australasia 282 0,1

Total number of foreigners 230.942 100in Barcelona

city's population, a very closepercentage to other European citiessuch as Madrid, Copenhaguen andHamburg among others, and higherthan the Spanish average of 8.4%.

The immigration of the last ten yearshas brought to the city of Barcelona avery significant increase in thenumber of languages spoken in it.The current language situation is 223languages from 190 countries, a levelof diversity which promotes anincreasingly open and tolerantmetropolis.

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11

Historically, Catalonian economy hasbeen one of Spain’s main economicdrivers and is still the autonomous regionwith the highest Gross Domestic Product(GDP) in absolute terms. In recent years,it has followed a trajectory of expansion,and short term growth forecasts arepositive.

1.2.2 A DIVERSIFIEDECONOMICSTRUCTURE

Activity by sector

The city’s wealth and development havetraditionally been based on trade andmanufacture. At the moment, theeconomic activity’s structure ischaracterised by the dominance of theservices sector and the maintenance of asignificant industrial base in the whole ofthe metropolitan area.

In parallel to the process of moving alarge portion of the industrial sector to themetropolitan conurbation, the industryremaining in the central area hasstrengthened its conversion to high valueadded industry. It is formed by neweconomic activities of an industrialnature with branches such asenvironmental services, cultureindustries, the media, air transport andothers with great growth potential.Specifically, in the 2000-2004 period, theamount of medium and high-techindustry in Barcelona and itsmetropolitan area increased by up to11.2% and 35.8% respectively. In theservices sector, especially in tourism-related services, high value addedoccupancy has increased by over 33%.

Business structure

Barcelona has a large business networkvery similar in structure to the Europeanone. There are over 417,000 small and

medium-sized companies (SME, knownin Catalan by the abbreviation PIME),representing 99.7% of all companies.

Employment

Recent years have shown a very positivepicture of Barcelona’s job market. Bothactivity and employment rates grew,boosted by demographic growth andgood economic and business prospects,and the job market picked up with anincrease in the number of employedworkers registered with the SocialSecurity system. Specifically, 25,000new jobs were created in Barcelona in2003 and 2004, of which 39% were inhigh value added sectorst.

The gradual incorporation of legalimmigrants in recent years and theincrease in female employment andactivity rates, following the growingtertiarisation of the production network ofthe city and its metropolitan area havebeen two very significant factors in theboost of this expansion trend.

Barcelona's tertiary sector is growing in aclearly entrepreneurial manner, asshown by the fact that the strongestincrease in the last three years has beenin the number of registered self-employed, especially in the newtechnologies sector.

The unemployment rate in 2004 was6.2%, noticeably lower than that ofCatalonia, Spain and the EuropeanUnion.

1.2.3 FOREIGN INVESTMENTIN BARCELONA

The Barcelona area is a very importantforeign investment attraction centre,especially for industry and advancedservices. This can be seen in manyinternational economic indicators, suchas the annual study conducted by BritishSources: Spanish National Institute (INE), Institut d'Estadística de Catalunya (IDESCAT), Eurostat

GDP

GDP at market pricesand inter-annual variation rate EU 25 EU 15 SPAIN CATALONIA(2000 base index)

GDP (2004) (in millions of euros) 10.218.488 9.743.054 837.557 157.124

Annual growth rate in real terms. 2,4 2,3 3,1 3,1

STRUCTURE OF THE AFFILIATION TO THE SOCIAL SECURITY GENERAL SYSTEMACCORDING TO BIG SECTORS (% /TOTAL) . 4TH QUARTER 2004.

Barcelona Catalonia Spain

Agriculture 0,2 0,4 0,5

Industry 13,0 22,6 18,0

Construction 5,2 9,2 11,9

Services 81,6 67,8 69,6

TOTAL 100,0 100,0 100,0

GDP per capita (2004)

(in millions of euros) - 25.281 19.637 23.542

Sources: Spanish National Institute (INE), Institut d'Estadística de Catalunya (IDESCAT), Eurostat

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consultancy firm Cushman & WakefieldHealey & Baker, which, for the first timein its 2005 edition, named Barcelona asthe fifth best city in Europe for business,thus raising it one position.

Already established companies veryoften make a strategic commitmentthrough new investments in order tomake their subsidiaries evolve towardshigher value added activities. The mainreason for this is the high satisfactionlevel (97%) of companies alreadyoperating in the Barcelona area.

70% of all Japanese companies and50% of all German, French and NorthAmerican companies in Spain are inBarcelona’s economic area. Over 50% offoreign companies of an industrial naturein Barcelona’s economic area belong tothe chemical, pharmaceutical and carindustries. The services sector accountsfor 42%, and construction for another3%.

The Barcelona area is still a destination ofreference for attracting highly specialisedservices such as administrative, financial

and marketing services centres. Thesecentres are at the forefront of the currentprocess being undergone by companiesto become network structures withindependent units in different territories.

Trends

Barcelona is at the receiving end of agrowing flow of investment aimed atcreating management and servicescentres, research and distributioncentres, software development centresand design centres in the most variedsectors, such as professional andconsumer electronics and the carindustry.

These are some of the sectors, activitiesand forward-looking uses the city wantsto boost. This is why Barcelona hasdecided to promote the establishment, inthe city, of financial activities andbusinesses of large multinationals relatedto design, knowledge, distribution andcustomer call centres, also known by theEnglish names Call Centers or CustomerRelationship Management.

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Number of Foreign Companies in 2004

Barcelona 1.340

Metropolitan area 2.698

Catalonia 2.915

Source: Foreign Investment in the Barcelona Area (La inversió estrangera a l'àrea de Barcelona). Barcelona: Barcelona

City Council, CIDEM, 2004.

Foreign Investment in Catalonia (1994-2004) 30.022.220.000 €

Percentage in relation to the total for Spain: 15,57%

Foreign Investment in Catalonia (1st half of 2005)

Growth rate in 2005/2004. 25%

Percentage in relation to the total for Spain: 44,3%

Source: Foreign Investment in the Barcelona Area (La inversió estrangera a l'àrea de Barcelona). Barcelona:

Barcelona City Council, CIDEM, 2004.

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1.2.4 AN INTERNATIONALLYRECOGNISED LOCATION

BARCELONA, TOP 10

The European city which best promoted itself at an international level to attract Cushman & Wakefield Healey & Baker.foreign investment in 2005.

The fifth best city in Europe for investing and doing business in 2005. Cushman & Wakefield Healey & Baker.

The city with the best quality of life in Europe in 2005. Cushman & Wakefield Healey & Baker.

Barcelona, the second most attractive European area for foreign investment in 2004. Chambre de Commerce de Paris.

Best European city for investing in 2004. FDI, Foreign Direct Investment. (Group Finantial Times)

The European city which has advanced most in recent years (2005). Cushman & Wakefield Healey & Baker.

The European city of the future in 2004. FDI, Foreign Direct Investment. (Group Finantial Times)

Best European city for transport in 2004. FDI, Foreign Direct Investment. (Group Finantial Times)

One of the cities with the best growth prospects in Europe in 2002-2006. ERECO European EconomicResearch Consortium.

One of the cities with the most competitive cost of living in 2004. UBS

Barcelona has some of the highestpositions in the various internationalrankings, which rate its urban reality,its ability to attract foreign capital, its

entrepreneurial nature for businessand the quality of life enjoyed herevery highly.

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INTERNATIONAL COMPARISONS 2005

Cushman

& Wakefield

Healey & Baker

Font: Cushman

& Wakefield

Healey & Baker

Ernst & Young ERECO Union

of International

Associations

Catalonia

Polytechnic

University

Tourism

Marketing

Information

System

Mercer Human

Resource

Consulting

QUALITY OF LIFE

BARCELONA

PARIS

STOCKHOLM

MUNICH

MADRID

ZURICH

GENEVA

OSLO

DUBLIN

VIENNA

FOREIGN INVESTMENT RECEIVED

LONDON

PARIS

LYON

COPENHAGUEN

MOSCOW

BARCELONA

STOCKHOLM

BUDAPEST

PAS-DE-CALAIS

DUBLIN

GROSS VALUE ADDED FORECASTS

WARSAW

BUDAPEST

DUBLIN

ATHENS

MADRID

PRAGUE

STOCKHOLM

HELSINKI

BARCELONA

BIRMINGHAM

INTERNATIONAL MEETINGS ORGANISED

PARIS

VIENNA

GENEVA

BRUSSELS

LONDON

BARCELONA

COPENHAGUEN

BERLIN

ROME

STOCKHOLM

CITY FOR BUSINESS

LONDON

PARIS

FRANKFURT

BRUSSELS

BARCELONA

AMSTERDAM

MADRID

BERLIN

MUNICH

ZURIC

SCIENTIFIC PRODUCTION

LONDON

PARIS

MOSCOW

BERLIN

ROME

MADRID

CAMBRIDGE

MUNICH

BARCELONA

MILAN

OVERNIGHT STAYS

LONDON

PARIS

DUBLÍN

ROMA

MADRID

BERLIN

BARCELONA

VIENNA

PRAGUE

AMSTERDAM

COST OF LIVING

LISBON

LYON

HAMBURG

BIRMINGHAM

MADRID

BARCELONA

BRUSSELS

ATHENS

GLASGOW

BERLIN

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1.2.5 FIRST CLASSINTERNATIONALEDUCATION ANDACADEMIA

Thanks to its significant educationtradition, Barcelona is very well equippedto continually improve quality in this area.The network of education centres nowoffers a very comprehensive selection ofstudy possibilities to provide an easysolution to different situations andeducation needs.

Universities and higher education

The city has eight universities and severalbusiness schools of international renown.In addition, there are eleven technologytransfer centres linked to the universitieswhich have received several awards fortheir innovative initiatives from theEuropean Commission’s Directorate-General for Enterprise and theInformation Society.

Barcelona has consolidated itself as afirst class university destination in termsof number of universities, qualificationsand students.

International schools

There are several foreign schools in thecity and its surroundings, enablinganyone wishing to do so to pursueforeign curriculums in the city. There are27 such schools in total, providingteaching in five languages: English,French, German, Italian and Japanese.www.cidem.com/catalonia/cat/com/adreces/escoles/index.jsp

1.2.6 QUALITY OF LIFE: ACITY TO VISIT ANDLIVE IN

Barcelona is a dynamic, modern anddiverse city, whose profoundentrepreneurial, commercial andcompetitive spirit has for centuriescoexisted with the art of good living andthe enjoyment of the expressiveness of ademanding culture and urban quality.

Its Mediterranean climate, the cultureand leisure options on offer and thequality of life are key to attracting touristsand businesspeople to Barcelona. Thecity, located between the sea and themountains, enjoys temperatures ofbetween 23º C in the summer and 9º Cin the winter, and has 7 km of wellmaintained beaches in the city centreitself.

In addition, Barcelona has a highlyvalued cultural offer: 46 theatres, 41museums, 46 libraries, over 200 cinemascreens and countless concerts andfestivals held throughout the year. It is agreat city which brings to daily life theinheritance of its architectural andmonumental heritage. It is the only city inthe world with eight World Heritage sites.The city, so full of great examples ofModernista architecture and works byGaudí, has been asserting its open andprogressive nature from the late 20thcentury, with a new urban architecturewhich has reached clear internationalprojection.

All this, added to first class public andprivate services (education, health, etc.),a high environmental commitment frombusinesses, respect for quality andoccupational risk prevention, and a

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Name of the Organisation Type Web

Barcelona University (UB) Public www.ub.edu

Barcelona Autonomous University (UAB) Public www.uab.es

Catalonia Polytechnic University (UPC) Public www.upc.edu

Pompeu Fabra University (UPF) Public www.upf.edu

Ramon Llull University Private www.url.edu

Abat Oliba – CEU University Private www.uao.es

Catalonia International University (UIC) Private www.uic.es

Catalonia Open University (UOC) Private www.uoc.edu

IESE Business school www.iese.edu

ESADE Business school www.esade.edu

EADA Business school www.eada.edu

IESKA Business school www.ieska.com

UNIVERSITY DATA FOR ACADEMIC YEAR 2003-2004

First and second stage internal and approved university diplomas. 393 qualifications

University students. 204.000

Foreign students. 11.221

Source: Barcelona University Centre (BCU), 2004

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District 22@

A project to transform the industrialdistrict of Poblenou into an innovativeproduction district, in the heart of the city,offering modern spaces for strategicconcentration of intensive knowledgeactivities. This initiative is both an urbanrenewal project and a new city model inanswer to the challenges of theKnowledge Society.

Scope: 200 hectares.

3.200.000 square metres of production spaces.

220.000 square metres for new facilities andgreen areas.

4.000 new subsidised flats and houses.

An estimated 130,000 new jobs.

An economic potential of €12,000 million for

the whole operation.

+ www.bcn.es/22@bcn

Besòs Inter-University Campus

This relates to the creation of an inter-university campus for teaching and

research, linked to the new productionand business activity. It is in the newAvenida Diagonal extension area, on thecoastline and the right bank of the RiverBesòs. This campus, which is promotedby the Barcelona 22@ innovation andthe large transformation beingundertaken in the Besòs area, will helppolish and modernise the current urbangrid.

160.000 square metres devoted to a newapproach to knowledge spaces.

Barcelona Biomedical ResearchPark

This initiative is promoted by theCatalonian Government (Generalitat deCatalunya), Barcelona City Council andPompeu Fabra University, and aims toplace Barcelona at the forefront ofEuropean transnational biomedicalresearch. It is a science project involvingboth basic and applied research, in a50,000 square metre space, able to

public transport system combiningquality and price, make Barcelona a veryappealing city both for living in and fordoing business.

International comparisons

Barcelona’s international renown for thequality of its city life and the gradualinternationalisation it has achieved hasbeen consolidated in recent years. This isso to the point that it was chosenEuropean city with the best quality of lifefor the seventh consecutive year in the2005 European ranking published byCushman & Wakefield Healey & Baker(C&W H&B).

On the other hand, Mercer Consulting’sranking of the most expensive cities inthe world placed Barcelona in 56thplace, and the Union de BanquesSuisses (UBS) placed it in 27th place inits study taking into account citizens’income level on the basis of salaries.

In summary, Barcelona is in a place ofpreference in terms of economic activityand business attraction, whileconsolidating itself as a fantasticEuropean tourist destination offeringboth visitors and residents modern andinclusive city planning with a high qualityof life.

1.2.7 NEW CITY PLANNINGPROJECTS

Barcelona is in the middle of the largestcity planning transformation in its recenthistory. The city planning andinfrastructure projects recentlyundertaken and currently in progress areshaping the 21st century city, whereeconomic growth, the maintenance ofcompetitiveness and job creation willaffect citizens’ lives. Later is a descriptionof some of the most emblematic projects:

provide answers with perspectivesranging from molecular to populationlevels.

50.000 square metres.

80 research groups.

1.000 professionals, scientists and highlyqualified technicians.

+ www.prbb.org

Airport extension

The airport extension project iscoordinated through the Airport MasterPlan, which provides for the regulation ofactivities in the airport premises and thecompletion of the new passenger andcargo terminals and of the whole airportin general.

The aim is to turn Barcelona El Pratairport into an international connectionairport which will be able to meet thegrowing demands forecast between nowand the 2025 horizon. The main actionsenvisaged by the Plan by 2007 are:renovation and refurbishing of thecurrent terminal area, building the thirdrunway and extending the existing one,the new South terminal, road and railaccess, the services area (air cargocentre and aeronautical park), andenvironmental action.

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40 million passengers per year.

90 operators at the busiest times and 400,000operations per year.

500.000 tonnes of goods per year.

250-hectare services area.

+ www.aena.es

Port extension

Work on the extension of Barcelona portbegan in late 2001 with the placing of thefirst stone of the east pier. When this iscompleted, the port’s area andinfrastructures will have doubled,enabling it to double its goods traffic too.One of the port's main appeals will bemulti-access, thanks to the new road andrail access, the arrival of the Europeantrack width and the close proximity of theairport. This extension, which will becompleted in 2010, will make it possiblefor the port to become the main logisticscentre in Southern Europe.

1.265 hectares of land surface area (currently558 hectares).

786 hectares of sea area (currently 374hectares).

265 hectares of logistics areas (currently 65hectares).

+ www.apb.es

Sagrera-Sant Andreu plan

This is a city planning transformationproject covering a large area ofBarcelona. It includes regulating therailway infrastructures in the north ofthe city, building the new La SagreraHigh Speed Train central station andcarrying out city planningimprovements on five districts aroundthe new rail complex, which willinvolve covering the tracks andcreating a large linear park of over 4kilometres in length connecting thedistricts of Sant Andreu-La Sagrera toSant Martí. The details of the plan are:

Total area: 163 hectares (98 hectares ofoffices and housing; 53 hectares of greenareas, and 12 hectares of facilities).

Construction of 8,000 new dwellings, officesand commercial premises..

+www.bcn.es/urbanisme/tav

For information on other projects forBarcelona and its environs, visit:www.bcn2000.es.

1.3.1 OFFICES ANDCOMMERCIALPREMISES

Barcelona’s business spaces – over 12million square metres of industrial areasand around 4,500,000 square metres oftotal office floor space – enable businessactivities to grow and develop withexcellent value for money, especially withregard to offices.

1.3LOCATION AND THE PROPERTY MARKET

BASIC INFORMATION RELATING TO OFFICES

m2

Office space 4.906.634

Contracted surface area 413.000

Available space 295.000

Non-occupancy rate 6 %

Minimum and maximum rent prices (€/m2/month). 8,5 / 23,5

Traditional central areaBarcelona city.Avenida Diagonal and Passeig de Gràcia.

Traditional business districtBarcelona city.City centre and centralEixample area.

Traditional secondary centralzoneBarcelona city.Left and right Eixample,boundary areas.

New central districtsBarcelona area.Gran Via l’Hospitalet, DiagonalMar, 22@, Olympic Village andPort.

Inner peripheryBarcelona area.Zona Franca, Mas Blau, Sant Cugat Business Park,Cornellà, Cerdanyola andViladecans.

OFFICE MARKET ZONING IN THE BARCELONA AREA

Source: Jones Lang Lasalle. 2005

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Vallès Occ.Sant Cugat

Sant Just DesvernSant Joan Despí

Cornellà

Mas Blau

Zona Franca

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Commercial premises

Commerce has always played a veryimportant role in Barcelona’s history. Thecommercial sector is one of the activitieswhich best reflect the open mentality ofBarcelona’s inhabitants and the city’sgood economic development. Inaddition, Barcelona has inherited a trackrecord as a successful Mediterraneantrading city.

In 2004, commercial sector turnoverrose to €32,664 million, 6.2% higherthan the previous year. This figurerepresents 15% of the city’s GDP andover 163,000 jobs. Barcelona has 17open air shopping districts spread outthroughout the city. They are city areaswith high concentrations of shops. Theyare generally shopping areas with adifferent offering from the city centre.

1.3.2 INDUSTRIAL LANDAND BUILDINGS

Barcelona is one of the cities with themost real property available for industrialactivities in the Mediterranean Basin:over 12 million square metres. In spite ofthe limits on increasing this availabilitywith new industrial land, the metropolitanarea offers new opportunities around themain road arteries. The general trendindicates that the industrial land closestto Barcelona city centre is graduallybeing converted to mixed office,warehouse and residential premises

A-1

A-2A-3

B-2B-3

B-1C-1

C-2

C-3

B-5

B-4

C-4

D-1D-2

D-1

E-1

E-1

E-1

E-1

E-1E-1

BASIC INFORMATION RELATING TO COMMERCE

Number of commercial establishments 53.668

• Wholesale (26,6%) 14.280

• Retail (73,4%) 39.388

Non-occupancy rate 7,8%

Average rent prices (€/m2/year) 600

Total average sale price (€/m2) 2.000

Source: Developed in-house based on data provided by Global Property Alliance, King Sturge and Barcelona City Council

AVERAGE PRICES FOR INDUSTRIAL BUILDINGS AND PREMISES

Industrial building rent price (€/m2/month) 7,1

Industrial building sale price (€/m2) 1.175

Industrial land total sale price (€/m2) 707,5

Source: Forcadell and King Sturge.

Zona ABarcelonès, Baix llobregat

Zona BVallès Oriental and others

Zona CVallès Occidental and others

Zona DMaresme and others

SHOPPING STREETS AND DISTRICTS IN BARCELONA

ZONING OF BARCELONA'S INDUSTRIAL OFFERING

Zona ESecond ring

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RENT Offices €/m2/year Commercial spaces €/m2/year Industry €/m2/month

Amsterdam 345 1.600 65

Athens 320 3700 85

Barcelona 260 600 80

Beijing 175 1.349 125

Berlin 288 2.280 72

Birmingham 418 4.732 91

Brussels 280 1.300 68

Buenos Aires 90 190 35

Chicago 270 1.321 104

Dublin 516 6.000 120

Hong Kong 461 3.664 45

London 908 7.882 190

Madrid 280 720 85

Manchester 396 5.047 84

Miami 265 209 74

New York 435 2.573 106

Paris 670 8.000 61

San Francisco 240 739 104

Shanghai 315 1.125 45

Taipei 172 1.059 136

Tokyo 720 575 138

Washington 370 530 116

Source: Global Aliance Property

RENT COMPARISON.

BUSINESS SPACES IN THE MAIN URBAN AREAS OF THE WORLD (2004)

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2004 saw an upturn in the number ofdwellings in the market. The number ofdwellings available in Barcelonaincreased by 10.1%. Residentialconstruction has focused on theoutskirts, which have more landavailable, mostly free from other uses. Allthis new residential construction hasincreased its sale price by around20.6%. The rental market, on the otherhand, has experienced a more moderategrowth: around 7.6%.

HOUSING BY DISTRICT

Reference prices (2005) SALE RENT

Districts Newly built €/m2 Second hand €/m2 Average €/m2

Ciutat Vella 4.200 3.900 10,4

L'Eixample 5.276 4.139 10,56

Sants 3.827 3.573 11,24

Les Corts 4.393 4.402 12,93

Sarrià - Sant Gervasi 7.856 4.906 12,9

Gràcia 4.335 4.006 11,21

Horta - Guinardó 3.430 3.359 9,93

Nou Barris 3.350 3.121 9,75

Sant Andreu 3.581 3.364 9,65

Sant Martí 3.636 3.700 11.15

Average for Barcelona 4.493 3.813 10,91

Source: Municipal Housing Trust (Patronat Municipal de l'Habitatge)

1.3.3 AVAILABLE RESIDENTIAL PROPERTY

Sants - Montjuïc

Les Corts

Sarrià - Sant Gervasi

Gràcia

L’Eixample

Ciutat Vella

Horta - Guinardó

Sant Martí

Nou Barris

Sant Andreu

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1.3.4 LOCATION

Barcelona City Council, through theEconomic Promotion Sector (Sector dePromoció Econòmica), and the Centrefor Innovation and BusinessDevelopment (CIDEM), provide help andadvice to find spaces for economicactivities. There are also variouscompanies, institutions, guidebooks andwebsites to help you find different typesof property (offices, commercialpremises, industrial land and buildingsand residential properties). Later is a listof some of the main ones.

Name / type Description Web address

International property The main international estate agentsconsultants. operating in Barcelona offer a wide *range of locations

and services.

Company 22@bcn. State-owned organisation which www.bcn.es/22@bcnmanages the conversion of the district of Poblenou into a technology district. It provides information on commercial premises and offices in the area.

Pacte Industrial de A BCN metropolitan area organisation www.pacteind.orgla Regió Metropolitana. providing information on in dustrial

buildings & commercial premises.

Cimalsa. Integrated Centre for Logistics Activiti- www.cimalsa.eses and Goods), a State-owned organi-sation which promotes infrastructures and facilities relating to logistics and transports

Col·legi d'APIS. Official Estate Agents’ Association for www.apibcn.comBarcelona city and province.

Col·legi d'Administradors Professional Association of Property www.coleadministradors.comAdministrators for Barcelona and Lleida.

Business centres. Barcelona and its surrounding area

*have a wide range of business centreswith all kinds of spaces and services for businesses

Business incubators. Aimed at entrepreneurs with a viable www.barcelonactiva.es business project who wish to start a company and set up in the city.

Relocation companies Companies which offer all kinds of

*services to help foreigners settle into the city.

Real estate guidebooks Offices and commercial and residential

*and portals premises are also marketed by means

of classified advertisements in news-papers, property supplements in news-papers and magazines, specific adver-tising by estate agents, and also through real estate portals on the Internet

* Address lists are available from Barcelona City Council and CIDEM.

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1.4.1 BARCELONA TRADEFAIR (FIRA DEBARCELONA)

Most of the trade fair and conferenceactivities held in the city take place at Firade Barcelona, which is one of the driversof the city’s commercial activity. Since itscreation almost one hundred years ago,this is the leading such centre in thewhole of Spain and one of the top five inEurope in terms of number of eventsheld.

Every year, Fira de Barcelona welcomesover 30,000 exhibiting companies and3.5 million visitors. In 2004, trade fair-

related activities generated 2,000 millioneuros of induced economy. Some of themore than 70 shows organised by Firade Barcelona are in the top places of theEuropean trade fair ranking: Alimentaria(food and drink sector), Sonimagphoto(audio and photography), Saló del'Automòbil (cars), Hispack (packaging),Graphispag (graphics), Caravaning(caravans), and Saló Nàutic (boats).

Fira de Barcelona is formed by two largecentres: Montjuïc-1 and Montjuïc-2.When the current extension is finished,the centre will cover an area of 355,000square metres, making it the secondlargest in Europe

1.4.2 CONFERENCES,CONVENTIONS ANDPROFESSIONALMEETINGS

According to data from the InternationalUnion of Associations, Barcelona is inseventh place in the world in theconference and convention tourismmarket. The attached table containssome data showing the active economyin this area. From the spaces availablefor organising conferences andconventions in the city, it highlights theFira de Barcelona facilities (Palau deCongressos and Centre de Convencions- the Conference and ConventionCentres), the new BarcelonaInternational Convention Centre (CCIB)and the Palau de Congressos deCatalunya (Catalonia ConventionCentre). In addition, the BarcelonaConvention Bureau provides all kinds ofinformation and advice for theorganisation of conferences, meetingsand incentive trips.

TRADE FAIRS ANDCONFERENCES

CONFERENCES AND PROFESSIONAL MEETINGS (2004)

Number of meetings Number of participants

Conferences, seminars and courses 374 Conferences, seminars and courses 193.708

Conventions and incentives 772 Conventions and incentives 166.627

Total 1146 Total 360.335

Source: Barcelona Tourism Board, 2004.

1.4

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FIRA DE BARCELONA CONFERENCE ANDCONVENTION CENTRES. (PALAU DE CONGRESSOS AND CENTREDE CONVENCIONS DE BARCELONA).

Fira de Barcelona is also a leader in theorganisation of industrial andprofessional conferences, events andconventions. It is one of the sector’s topfour institutions in Europe in terms ofnumber of events. It includes theConference Centre (Palau deCongressos), located in the Montjuïc-1premises, and a convention centre in theMontjuïc-2 premises.

+ Information / InfofiraTel. 902 233 200 | +34 93 233 20 00 www.firabcn.es

BARCELONA INTERNATIONAL CONVENTION CENTRE (CCIB)

CCIB was built for the 2004 UniversalForum of Cultures. It is now the largestconvention centre in southern Europeand its construction has greatlyadvanced Barcelona’s position in theconference and convention tourismsector, since the city can now meetdemand for events of over 6,000delegates and can hold 15,000 people ina single place.

+ InformationTel. +34 93 230 10 00ccib@ccib.es www.ccib.es

CATALONIA CONVENTION CENTRE(PALAU DE CONGRESSOS DECATALUNYA)

It was built in 2001 and is part of theRoyal Complex, a deluxe complexcreated by the Conference Centre itself,the hotel Juan Carlos I, The Royal Fitnessand The Royal Catering, with the aim ofoffering top level services tailored to eachclient’s needs.

+ InformationTel. +34 93 364 44 00 info@pcongressos.comwww.pcongresos.com

BARCELONA CONVENTION BUREAU(BCB)

BCB is a Barcelona Tourism Boardprogramme specialising in providingsupport for the organisation of eventsand the promotion of the city as a venuefor meetings.

+ InformationTel. +34 93 368 97 00bcb@barcelonaturisme.comwww.barcelonaturisme.com

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THERE ARE TWO BASIC WAYS OFCARRYING OUT A BUSINESS ACTIVITY INCATALONIA:

On a self-employed basis, i.e. as a self-employed with unlimited liability(including both business and personalassets) or by creating a company, withliability limited to business assets.

Choosing the appropriate type ofbusiness organisation for the activitydepends on the investor’s interests andstrategy. Under the current legalframework, there is a broad range ofpossibilities with flexibility to adapt to theparticular needs of each investor.

2.1.1 SELF-EMPLOYED

This is the perfect way for a naturalperson to carry out a business activity inhis or her own name on a regular basis.The only legal requirements are that the

person who is to carry out the businessactivity must be of full legal age (18 orover) and have sufficient legal capacity tocarry it out.

The steps for starting up a business as aself-employed are easier and cheaperthan those for starting a company, butself-employed people are liable for thebusiness’ debts with their current andfuture personal assets.

When a place of business is set up, itsname will be that of the person who ownsthe business (although he or she maywork under a different trade name). Self-employed are governed by a specialSocial Security regime called RETA(Special Regime for Self-employedWorkers) with its own rules distinct fromthe regime governing employed workers.Any workers hired by the self-employedmust register with the general SocialSecurity regime.

A self-employed or self-employed worker

is one who conducts, on a personal,

direct and regular basis, an economic

activity for profit without being subject to

an employment contract.

If a foreigner wishes to carry out anactivity on a self-employed basis, he orshe must have the legal capacity toconduct a business activity under thenational law of his or her country oforigin, and must obtain authorisation (therelevant work and residence permit)from the relevant Government office.

2.1.2 COMPANIES

This can be considered the mostcommon type of investment. There areseveral types of company under Spanishlaw. The main ones are the PublicLimited Company (Societat Anònima,SA) and the Private Limited Company(Societat de Responsabilitat Limitada,SL), which are characterised by thelimitation of investors’ liability to theircontribution to the company.

2.1TYPES OF BUSINESSORGANISATION

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The Public Limited Company (SA) form isadvisable for large businesses and/orprojects, both commercial and industrial,and requires a substantial capitalinvestment, which can be obtained byoffering shares to the public.

However, many medium-sizedcompanies also choose this form ofbusiness organisation because of theease with which shares can betransferred. It is worth noting that thereare some sectors in which theinvestment must be mandatorily madethrough a Public Limited Company:these include the banking, insuranceand television sectors, among others.

The Private Limited Company (SL) is theform usually adopted by small andmedium-sized companies, because ofthe lower minimum share capitalrequired. In any case, their high degreeof flexibility in terms of management andorganisation also makes them appealingfor setting up large businesses for whichthese factors are relevant, such as

business partnerships or portfoliocompanies.

However, if the entrepreneur is a foreignlegal person, it is quite common to set upan entity without its own legal personality,such as a Branch or RepresentativeOffice.

Other structures may be interesting forthe establishment of specific projects,such as Private Partnerships (SocietatsCivils Privades), Economic Interest Groups(Agrupacions d’Interès Econòmic) andCooperatives (Societats cooperatives),although their use is less widespreadbecause the investors’ liability isunlimited.On the other hand, their great operationalflexibility and some particularities of taxregimes which apply to them can makethem advantageous for certain projects.

Another business form is the New FirmPrivate Limited Company (SocietatLimitada de Nova Empresa), a new sub-type of Private Limited Company which is

much quicker and easier to incorporate(24 h), through standard forms andelectronic media. It also has simpleraccounting obligations and a high degreeof flexibility. It is intended for smallbusiness and individual entrepreneurs.

Below is a table summarising the mostcommon types of business organisation:

The steps required for starting up a

SUMMARY OF THE MAIN FORMS OF BUSINESS ORGANISATION IN BARCELONA

Self-employed Private Limited Public Limited Branches Representative Companies Companies Offices

Divided capital. None. Stock units. Own shares. No capital No capitalof its own. of its own.

Minimum capital. Enough to carry out 3.005,06 €, 60.101,21 €, at least Assigned endowment. Own resources from the activity. paid up on 25% of the minimum the parent. It is

incorporation. capital must be paid up not considered foreign on incorporation. investment.

Public steps. Not required. Public deed Public deed Public deed Escriptura públicaCommercial Register. Commercial Register. Commercial Register. Registre Mercantil.

Legal personality. None. The company’s. The company’s. The foreign parent’s. The foreign parent’s.

Liability. Unlimited. Limited to Limited to Unlimited for the Unlimited for the contributions. contributions. parent company. parent company.

27

business depend on the type of businessorganisation the investor wishes to use.Deadlines will vary depending on thetype of business organisation chosen.Below is a summary of the proceduresfor each of the business organisationtypes most commonly used in Catalonia.

It is worth noting that, foreign self-employed, in addition to the tramitsmentioned in section 2.2.1, must firstobtain the work and residence permitmentioned in section 2.1.1 and 2.4. In

some cases, and depending on theactivity to be carried out, the permit mayonly be obtained after their qualificationhas been officially approved.

In case of foreign associate (S.A/S.L), inaddition to the tramits mentioned insection 2.2.2 , must obtain:

- Foreigners' Identification Code(Número d’Identificació d’EstrangersNIE) in any Government office or theSpanish Consulate or Embassy.

- Declaration or authorisation of the

2.2.1 STEPS FOR SETTING UP AS A SELF-EMPLOYEDSteps

1. Census declaration confirming thatthe provisional Tax Identification Code(CIF) has been obtained.Registration for the following taxes:Value Added Tax (VAT) and BusinessTax (Impost sobre ActivitatsEconòmiques, IAE).

2. Obtaining the required licences, autho-risations and administrative registrations.

3. Registration with the Special Regimefor Self-employed Workers (RETA).

4. Registering the business with theSocial Security system for registeringworkers.

5. Notice of opening of the businesspremises.

6. Legalisation of the records.

The total time period is approximately one week. (apart from any necessary administrative authorisations).

Description

Submittal of official form 036 to obtain the provi-sional Tax Identification Code, which is also theself-employed personal Tax Identification Number(NIF). This step identifies the business activity fortax purposes and notifies the administration of thestarting of the activity.With regard to Business Tax, self-employed areexempt from paying this tax but must providecensus information by means of the related return

These vary depending on the type of businessactivity.

Compulsory registration with the Special Regime forSelf-employed Workers for self-employed acting asindividual entrepreneurs, TA-1 card form.

Compulsory registration of the business with theSocial Security system in order to register workers, TA-1 card form for the first registration, and TA-2card form with details of the business and theworkers.

Obligation to notify of the opening of the premisesin which the activity will be carried out.

These are the employment record register, andthe tax and accounts books (Journal, InventoryBook and Annual Accounts).

Institution / Organisation

Any branch of the State Tax AdministrationAgency (Agència Estatal de l'AdministracióTributària) for that address.Deadline: before starting the activity

Public administrations: regional and local.Deadline: before commencing the activity

Provincial Social Security Treasury.Deadline: within 30 days following thecommencement of the activity.

Provincial Social Security Treasury.Deadline for registration: within 30 daysfollowing the commencement of the activity.Deadline for registering workers: between 1and 60 days before the commencement of theactivity

Provincial branch of the Ministry ofEmployment Regional Service.Deadline: 30 days following the opening of thepremises.

Labour Inspectorate in relation to the employ-ment record books, and the appropriate Com-mercial Register for the address in relation tothe accounts and tax books.

2.2STEPS FOR STARTINGUP A BUSINESS

investment at the General Bureau ofCommerce and Investment (DirecciónGeneral de Comercio e Inversiones) andForeign Investment Register (Registrode Inversiones Extranjeras) of theMinistry of Finance (Ministerio deEconomia).

In case of foreign administrators(S.A/S.L.), they only have to obtain theNIE.

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2.2.2 STEPS FOR SETTING UP A COMPANY (SA / SL)Steps

1. Certificate of availability of company name(Certificació Negativa de DenominacióSocial).

2. Opening a current account and requesting acertificate confirming that the share capitalhas been paid into the bank.

3. Drafting the company by-laws.

4. Granting powers of attorney.

5. Executing the deed of incorporation of thecompany.

6. Census declaration that the provisional TaxIdentification Code (CIF) has been obtained.Registration for the following taxes:- Value Added Tax (VAT)- Corporate Income Tax (Impost de Societats)- Business Tax (Impost sobre Activitats

Econòmiques).

7. Paying Property Transfer Tax and StampDuty (Impost de Transmissions Patrimonialsi Actes Jurídics Documentats, ITP i AJD).

8. Registration at the Commercial Register.

9. Obtaining the required licences, autho-risations and administrative registrations.

10. Registering the company with the SocialSecurity system.

11. Registering the workers with the SocialSecurity system.

12. Notice of opening of the businesspremises.

13. Obtaining the definitive Tax IdentificationCode (CIF).

14. Legalisation of the company records.

Description

It provides evidence that the name chosen for the company hasnot already been taken by another existing company. The name isreserved for 15 months. The certificate, however, is only valid fortwo months, although it can be renewed, and it must be providedat the act of incorporation before a notary public.

This is in order to pay in the minimum share capital and provideevidence of this payment to the notary when executing the deed ofincorporation of the company

They set out the essential rules for the operation of the company.

A document whereby a member who is unable to attend the act ofincorporation of the company before a Notary Public empowersanother to appear on his or her behalf. This can also be grantedabroad if the document includes a 1961 Hague Conventionapostille (a stamp which gives effect in Spain to the power ofattorney granted).

This is the act of appearance of the members or their representativesbefore a Notary Public formalising the incorporation of the company

Submittal of the official form (036) to obtain a provisional TaxIdentification Code which will identify the company for taxpurposes, and notifying the administration of the commencementof the company’s activities. Submitting form 036 results inautomatic registration. New companies are exempt from payingBusiness Tax during the first two years of activity. Following thistime, they will only be subject to this tax after a certain turnoverthreshold.

This is 1% of the share capital and is necessary in order to registerthe company at the Commercial Register.

This publicises the fact of the incorporation of the company bywhich it gains legal personality..

These vary depending on the type of business activity.

Obligation to register the company with the relevant Social Securityregime. at Social.

Obligations relating to the workers´Social Security registration, TA-1card form for the first registration, and TA-2 card form with detailsof the business and the workers.

Notification of commencement of a new activity to the relevantlabour authority, regardless of its type and of whether or not thebusiness hires workers.

Obtaining the definitive Tax Identification Code card.

This consists of 4 books: the Journal, the Inventory Book, theAnnual Accounts, the Minute Book and, in the case of a soleshareholder, the Register of Contracts with the sole shareholder.

Institution / Organisation

Central Commercial Register (Registre Mercantil Central).

Any bank or savings bank.

Law firm.

Notary Public’s Office.

Notary Public’s Office.

Any branch of the State Tax AdministrationAgency (Agència Estatal de l'AdministracióTributària) for the company’s tax address.Deadline: before commencing the activity.

The Catalonian Government’s General TaxDepartment.Deadline: within one month following the executionof the deed of incorporation of the company.

The Commercial Register which corresponds tothe company’s registered address. Deadline:within two months following the execution of thedeed of incorporation of the company.

Public administrations (regional and local).Deadline: before commencing the activity

The Provincial Department of the Social SecurityRegional Treasury (Direcció Provincial de laTresoreria Territorial de la Seguretat Social)which corresponds to the company’s registeredaddress. Deadline: before commencing theactivity and hiring the first worker.

The Provincial Department of the Social SecurityRegional Treasury (Direcció Provincial de laTresoreria Territorial de la Seguretat Social) whichcorresponds to the company’s registered address.Deadline: before workers start to join.

The Catalonian Government’s Ministry ofEmployment (Departament de Treball). Deadline:30 days following the opening of the premises.

Any branch of the State Tax AdministrationAgency (Agència Estatal de l'AdministracióTributària) for the company’s tax address.Deadline: 6 months after the issue of theprovisional card (Step No.6).

The Commercial Register which corresponds tothe company’s registered address.

The total time period is approximately 30 days . (apart from any necessary administrative authorisations and the Commercial Register registration).

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2.3.1 TAXES

Under current Spanish legislation, taxobligations in Catalonia are among theleast onerous in the Eurozone.

In this section, foreign investors canbecome familiar with the main taxconcepts which apply here and ascertaintheir possible impact on businessactivities.

The tax regime applicable in Barcelonacomprises several different taxes whichcan be divided into direct, indirect andlocal taxes:

Direct taxes: these are taxes payable onincome. In the case of economicactivities, tax is paid on the differencebetween income and expenditure.

One must make a distinction betweenincome tax paid by natural persons

(Personal Income Tax - Impost sobre laRenda de les Persones Físiques, IRPF)and income tax paid by legal persons(Corporate Income Tax - Impost sobreSocietats, IS). The main difference is thatCorporate Income Tax always usesaccounts, whereas these are not usuallyrequired for Personal Income Tax,although records of income andexpenditure do exist.

In addition, there is a special moduleregime for Personal Income Tax (inwhich income is calculated on the basisof objective parameters) if the limitsstipulated by the laws governing specificactivities - especially small businessessuch as bars/cafés and shoe shops - aremet.

- Personal Income Tax (IRPF) is aprogressive tax applicable to availableincome, i.e. the total amount of incomereceived during the calendar yearminus specific essential minimum

amounts determined by the law.

Taxation is based on a progressive rate

scale ranging from 15% to 45%.

Increases and reductions in assets

(generally sales of assets which are not

business stock) are taxed at a fixed rate of

15% (one of the lowest in Europe).

For foreign workers who have beentransferred to Spain, there is a regime toreduce the cost to the employer: theirsalaries (usually agreed as net amounts)are taxed at just 25%.

- Corporate Income tax (IS) is charged on

income received by legal persons or

companies. The general rate is 35%.

However, small companies (with a

turnover of less than €8 million) profits

of up to €120, €202.40 are taxed at a

flat rate of 30%.

2.2.3 STEPS FOR SETTING UP

A BRANCH / REPRESENTATIVE OFFICEThe steps are similar to those required for setting up a company, although the following specific issues are worth mentioning:

Steps

1. Executing the deed of incorporation ofthe branch / representative office.

2. Opening a current account andtransferring funds.

Description

The following documents relating to the foreignparent company must be provided:- Resolution of the relevant corporate body

egarding the decision to set up the branch or representative office.

- Granting of powers of attorney to the representative / manager of the branch / representative office.

- Certificate of the registry or relevant authority of the parent company’s country confirming the validity of the parent’s existence, the currency of its by-laws and the offices held by its directors.

Although no minimum capital is required, it mustbe given the necessary funds to carry out itsbusiness.

Institution / Organisation

Notary Public’s Office.

Any bank or savings bank.

2.3TAX REGIME, TAX AND ALLOWANCES

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In addition, the tax rate is noticeablyreduced when certain legally establishedtax benefits, such as those affectingresearch, development and innovationactivities, are applied.

In addition, the deduction for reinvestmentof profit means that capital gains oncertain assets are taxed at 15% providedthe amount obtained from their transfer isreinvested under the conditions stipulatedby the law.

Indirect taxes: these are taxes payable onconsumption. There are two main typesof indirect tax:

Value Added Tax (IVA) and PropertyTransfer Tax and Stamp Duty (Impost deTransmissions Patrimonials i ActesJurídics Documentats, ITP i AJD).

- Value Added Tax (IVA): this applies tobusiness activities and is ultimatelysupported by consumers.

- Property Transfer Tax and Stamp Duty(ITP and AJD): this applies to transfersbetween persons other thanentrepreneurs and to certain realproperty transactions.

Local Taxes: City Councils charge varioustaxes on economic activity:

- Business Tax (Impost sobre ActivitatsEconòmiques, IAE): this tax iscalculated on the basis of objectiveparameters, such as the activity and thenumber of square metres of thepremises in which the business isconducted.

There is an exemption for naturalpersons and businesses with a turnoverof under €1 million.

GENERAL TABLE OF THE MAIN TAXES APPLICABLE TO BUSINESSES IN CATALONIA

DIRECT TAXES:on business profit

PERSONAL INCOME TAX (IRPF)

INDIRECT TAXES:on consumption

LOCAL TAXES:on other items

(LEGAL PERSONS):General rate of 35% with certain allowances

CORPORATE INCOME TAX (IS)

VALUE ADDED TAX (IVA)

On ownership of real property

LOCAL PROPERTY TAX (IBI)

BUSINESS TAX (IAE)

PROPERTY TRANSFER TAX (ITP)

TAXES

OTHER TAXES

(NATURAL PERSONS):Progressive scale ranging from 15% to 45%

On the exercise of business activities (companies only)

For rubbish collection, on ownership of vehicles, etc.

This is charged at three different rates: 4%, 7% and 16%

On certain purchases of real property: 7%

On the incorporation of a company: 1%

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- Local Property Tax (Impost sobre BénsImmobles, IBI): this applies toownership of real property, and theamount charged depends on the valueof the property and the rate set by theCity Council in question.

- Other local taxes, such as the Tax onBuildings, Works And Installations(ICIO), which is charged based on thevalue of certain works; the Tax on theIncrease of Value of Urban Land(IIVTNU), a capital gains tax chargedon the transfer of real property; or theroad fund licence (Impost sobreVehicles de Tracció Mecànica),charged on ownership of vehicleswhich may be relevant depending onthe business activity.

2.3.2 MAIN TAXALLOWANCES FORFOREIGN INVESTMENT

Barcelona has one of the best taxallowance regimes for technologicalinnovation, research and developmentfor companies worldwide. This Spanishtax framework for RDI is acknowledgedby the Union of Industrial andEmployers’ Confederations of Europe(UNICE) as the best in the OECD(Organisation for Economic Cooperationand Development).

Research, Development and Innovation(RDI) Allowances: these can range from10% to 70%.

In addition, it is possible to obtain anadministrative certificate for the amountof the allowance, which confers legal

certainty on the applied allowance. Thisallowance can also be applied by:

- Businesses carrying out R&D tasks forforeign companies which are notpermanently established in Spain. Insuch a case, the Spanish business caninclude as R&D expenditure anyexpenditure associated with R&Dprojects commissioned by foreigncompanies.

- Subsidiaries of multinationalsestablished in Spain which carry outR&D activities from Spain for groupentities abroad may apply for taxallowances for RDI activities in relationto expenditure made abroad for up to25% of the total amount invested in theproject, provided the main part iscarried out in Spain.

Spain also has one of the mostfavourable tax regimes for holdingcompanies (ETVE) in the world.

TAX ALLOWANCES FOR RDI

Research and Development

Expenditure relating to R&D projects 30-50%

Personnel expenditure on qualified researchers an extra 20%dedicated solely to these activities.

Expenditure relating to research and development projects an extra 20%contracted with universities, public research agencies or technology and innovation centres

Investments in tangible and intangible fixed assets 10% (excluding real property and land) intended solely for R&D activities

Technological Innovation

Expenditure relating to technological innovation projects 15%contracted with universities, public research agencies or technology and innovation centres

Expenditure relating to industrial design and 10% production process engineering.

Expenditure relating to the acquisition of advanced technology in 10%the form of patents, licences, know-how and designs (with a limit of 1m €)

Expenditure relating to obtaining a certificate 10%of compliance with ISO 9000, GMP or other similar quality regulations

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EU + EEA + SWITZERLAND

These citizens may work and live in Spain without needing any permits.*

OTHERS

In order to work and live in Spain, they must obtain a specific permit and meet therequirements stipulated in the Immigration Law. The main requirements are:

- Residence and self-employment

- Residence and employment by a third party

- Work permit for seasonal workers

- Work permit for transnational workers.

*Temporarily, until May 2006, workers from countries which have recently joined the EU (with the exception of

Malta and Cyprus) must obtain a permit to work and live in Spain

EU 15:

Belgium, Denmark,

Germany, Greece, Spain,

France, Ireland, Italy,

Luxembourg, the

Netherlands, Austria,

Portugal, Finland,

Sweden and the United

Kingdom

Countries which have

recently joined the EU:

Czech Republic, Estonia,

Cyprus, Latvia, Lithuania,

Slovenia, Hungary, Malta,

Poland, Slovakia.

EU 25:

EU 15 + countries which

have recently joined the EU

EEA (European Economic

Area): EU 25 + Iceland,

Norway, Liechtenstein and

Switzerland.

2.4WORK AND RESIDENCEPERMITS

Non - EU members wishing to carryout any work or professional activityfor profit must be over 16 years ofage and have a visa and a work andresidence permit (authorisation).This permit will allow them to workand live in Spain.

EU citizens do not require a visa or aresidence permit, since freedom ofmovement within the EU applies topeople as well as to goods andcapital.

Holding Companies (Entitat de tinença devalors estrangers - ETVE): This regime isbasically intended for those internationalgroups which wish to have a centre fromwhich to manage their holdings inseveral countries. The only requirementsare the incorporation of a company inSpain and the provision of securities fromthe companies in which the ETVE has aholding (provided they represent aminimum holding of 5% or less but witha cost of more than €6m, and providedthe companies in which it has a holdingconduct business).

Thanks to this privileged tax regime, anETVE with the above characteristics doesnot have to pay tax on dividends receivedfrom non-resident companies in which ithas a holding and its members do nothave to pay on the sums distributed bythe ETVE.

This scheme has better incentives thanthe Dutch one. In 2004, €6,605 million(89% of foreign financial investment inSpain) was channelled through thisscheme. These companies can alsocarry out other activities.

Other interesting incentives are thoserelating to Personal Income Tax (IRPF):

Regime applicable to workers establishedin Spain:This regime allows foreign workers tomove to Spain, reducing the cost to thebusiness, by taxing their salaries (usuallyagreed as net amounts) at just 25%instead of the usual 45%.

This regime applies during the year oftransfer to Spain and the five followingyears.

The combination of these regimes(allowances for RDI, ETVE and workerswho have been transferred to Spain),together with a high quality of life, makesBarcelona a particularly appealing placeto set up research and developmentcentres and business managementcentres. These tasks can be broughttogether into one company, which canresult in significant tax advantages.

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Note: Temporarily, until May 2006, workers from countries which have recently joined the EU must obtain a permit towork and live in Spain

2.4.1 SELF-EMPLOYEDWORK PERMITS

A foreigner wishing to work self-employed must submit twoapplications:

1. one for a residence permit (in Spain)

2. one for a residence visa (in his or her country of origin)

The order to present them will varydepending on various factors, as isshown in the following table:

YES NO

IS THE FOREIGNER ALREADY LEGALLY RESIDENT IN SPAIN?

No residence visa is required.

An initial work permit applicationmust be submitted directly to theImmigration Bureau (Oficinad'Estrangers) in Spain.

If the foreigner is in Spain on atemporary basis he or she maysubmit the initial work permitapplication directly to theImmigration Bureau in Spain andthen apply for a visa at the SpanishConsulate office in his or her owncountry. When the visa has beenobtained, the foreigner may comeinto Spain as a resident and mustprovide the Immigration Bureau inSpain with a copy of the visa.

If the foreigner is in his or her owncountry of origin, he or she mustsubmit the work residence visaapplication at the SpanishConsulate office and, once the visahas been obtained, come intoSpain and submit the initial workpermit application at theImmigration Bureau in Spain.

Two applications are required:

1) Application for a self-employedresidence visa (at the SpanishConsulate office in the countryin which the interested partycurrently resides).

2) Initial residence permitapplication

The foreigner must wait for the decision regarding the granting of the work permitbefore he or she can COMMENCE HIS OR HER BUSINESS ACTIVITY

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2.4.2 RESIDENCE AND EMPLOYEDWORK PERMITS

Note: Temporarily, until May 2006, workers from countries which have recently joined the EU must obtain a permit to work and live in Spain.

EMPLOYER

He or she must submit the initial work permit application at theImmigration Bureau in Spain. Is the worker legally resident inSpain?

If the decision is positive,THE WORKER IS HIRED.

The relevant forms and information can be found at theImmigration Bureau in Spain or on its website. Does the workerbelong to one of the following groups?

- Top executives, people in positions of trust, or highly qualified staff.

- Service providers (installation of production lines, training, etc.).

NO

He or she must go to aCatalonian Governmentemployment office(OTG) to arrange the“employment offer”.

YES

NO YES

L'empresa envia el resguard de sol·licitud al treballador.

The employer must send the proof of application to the worker,and both the employer and the worker must wait for the decisionregarding the work permit.

FOREIGN WORKER

If the foreigner is inSpain on a temporarybasis: The employermust submit an initialwork permit applicationdirectly at theImmigration Bureau inSpain and give the proofof application to theworker. The worker orhis or her representativemust follow the visaapplication procedure inthe Spanish Embassy inhis or her own country.

RESIDENCE AND EMPLOYED WORK PERMIT

Is the foreigner already legally resident in Spain?

YES

No residence visa isrequired. The employermust submit the initialwork permit applicationin Spain.

The application for anemployed residencevisa must be submittedat the SpanishEmbassy of theforeigner's place ofresidence.

NO

If the foreigner is in hisor her own country: Theemployer must sendthe proof of applicationto the worker.

The worker mustsubmit his or herapplication in personat the SpanishEmbassy in his or herown country.

Once the worker has obtained the visa, he or she must come intoSpain and give the appropriate copy to the Immigration Bureau.

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A very important part of Barcelona’sassets is its people: very efficient andhighly qualified human resources whowill ensure the smooth operation ofthe business.

The employment relationship with thestaff is governed by the employmentcontract pursuant to the Workers’Statute (Estatut dels Treballadors).

Below is a brief explanation of thecharacteristics of the employmentcontract, the different types ofcontract and the advantages of whichemployers may benefit depending onthe type of contract entered into orthe group for which it is intended:

Persons of full legal age.

Emancipated minors.

Minors of between 16 and 18 years of age with parental authorisation.

Foreigners in accordance with the Immigration Law.

An employment contract can be formalised orally except inthose cases in which written formalisation is compulsory bylaw (training, apprenticeship, for a specific project orservice, for a specified duration of more than four weeks,part time, permanent season contracts, hand-overcontracts, contracts for workers hired in Spain to provideservices to Spanish companies abroad).

This is optional.

If a trial period is agreed, it is governed by the applicableprovisions of the Collective Bargaining Agreement.

In the absence of a Collective Bargaining Agreement, such acontract may not exceed 6 months for qualified techniciansor 2 for all other workers (3 months in the case ofbusinesses with under 25 workers). This means that anyparty may voluntarily terminate the contract without noticeand without alleging any grounds.

The employment contract may be temporary or for anindefinite term.

In principle, all contracts are full time and for an indefiniteterm, unless otherwise provided in the contract.

A worker can only be hired on a temporary basis if one ormore of the requirements envisaged in the applicablelegislation are met.

THE EMPLOYMENTCONTRACT (I)

WHO MAY ENTERINTO ONE?

HOW IS ITFORMALISED?

TRIAL PERIOD

DURATION

2.5EMPLOYMENT REGIME

2.5.1 THE EMPLOYMENT CONTRACT

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To manage/organise the worker’s work.

To apply a policy of health and safety at work.

Other rights agreed in the contract.

The employer has a right to the performance of theobligations agreed for the worker.

To act in favour of the observance of workers’ rights.

To register the contract at an employment office.

To provide the workers' legal representatives with a basiccopy of the contract.

To register the worker with the applicable Social Securityregime.

Other obligations agreed in the contract.

Effective occupation during the working day.

On-the-job training and promotion.

Non-discrimination for accessing the workplace.

Physical integrity and privacy.

To receive the agreed remuneration and to do so on time.

Other rights agreed in the contract.

To perform his or her obligations in accordance withprinciples of diligence and good faith.

To observe health and safety measures.

To follow the employer’s orders and instructions.

To refrain from competing with the employer in the sameactivity.

To contribute to improve productivity.

Other obligations agreed in the contract

THE EMPLOYMENTCONTRACT (II)

RIGHTS

OBLIGATIONS

RIGHTS

OBLIGATIONS

EMPLOYER

THE WORKER

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2.5.2 TYPES OFCONTRACT

From the point of view of the durationof the employment relationship, there

are a whole series of permanent ortemporary contract possibilitiesallowing businesses to meet all theirpersonnel requirements. 25% of

Catalan employees work undertemporary contracts. This givesemployers greater flexibility.

MAIN INDEFINITE TERM CONTRACTS

Requirements and Characteristics

Indefinite term employment contracts are mainly characterised by their unlimited duration.The legal presumption that a contract is for an indefinite term applies when: - The company does not register the worker with the applicable Social Security regime.- It is formalised in breach of the law in order to avoid hiring the worker for an indefinite term.A contract is presumed to be for an indefinite term unless otherwise stipulated in the contractitself.

A part time contract is a contract agreed for a certain number of hours per day, week, monthor year which are less than the working hours of a comparable full time worker.A “comparable full time worker” is a full time worker in the same business or work place,with the same type of employment contract, and carrying out an identical or similar job.

It is an indefinite term contract entered into for the carrying out of seasonal work on apermanent basis, which does not repeat on specific dates within the employer’s normalvolume of business. Permanent seasonal workers who repeat on specific dates are governedby the legislation regulating part time contracts for an indefinite term.

It is an employment contract entered into with a disabled worker with specific characteristics(such as a minimum degree of disability of 33%).There is a €3,906.58 subsidy for each disabled worker with a full time employment contract.If the contract is for part time work, the subsidy will be reduced pro rata to the agreedworking hours. There are also reductions in the employer’s Social Security payment forcommon contingencies.

Type of Contract

Ordinary full time contract for anindefinite term

Ordinary part time contract for anindefinite term.

Permanent employment contract forseasonal work.

Indefinite term contract for disabledworkers

MAIN TEMPORARY CONTRACTS

Requirements and Characteristics

The aim of this contract is to acquire the theoretical and practical training necessary for theproper performance of a trade or qualified job. Generally, such contracts may be given toworkers of between 16 and 21 years of age who meet certain requirements. The contractmust be sent in writing and last no more than between six months and two years (with amaximum of two six-month extensions).

It is a training contract entered into with a worker who has a university degree or a mediumor high level vocational training diploma, or a diploma officially recognised as beingequivalent. This job should give the worker the skills required for professional practice andenable him or her to obtain professional practice appropriate to the studies taken. Thecontract must be executed in writing and last no more than between six months and twoyears (with a maximum of two six-month extensions).

It is a contract to carry out works or services with their own autonomy and substance withinthe company’s business. In principle, although it will be limited in time, the duration of theperformance is uncertain. It must be executed in writing, clearly specifying the work orservice to be carried out. It can be for full or part time work. A maximum duration may bestipulated by Collective Bargaining Agreements.

It is a contract entered into to meet market demands, clear a backlog of work, or meet anexcessive number of orders, even if it relates to the company’s usual business. It only has tobe executed in writing if its duration exceeds four weeks or if it is part time. In any case, itcan be full or part time. The maximum duration of such contracts is six months in any 12-month period, to be reckoned from the moment on which the backlog or excessive numberof orders begins. It is possible to stipulate otherwise by means of a collective bargainingagreement.

It is a contract whose aim or cause is the replacement of a worker who is entitled to return tothat position, the filling of a post pending the arrival of a definitive worker during arecruitment or promotion process, or during maternity or parental leave, due to the existenceof risk during pregnancy or temporary incapacity. This also includes the transition to asituation of professional disability.

Type of Contract

Training contract.

Apprenticeship contract.

Contract for a specific project or service

Temporary contract due to productioncircumstances.

Substitution contract.

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As an incentive to hire peoplebelonging to certain groups who, dueto their characteristics, find it difficultto find a job, the Spanish legislationprovides a series of advantages.

The main recruitment advantages orincentives are a reduction in thesocial security contributions whichmust be paid by employers. Theseadvantages basically consist of areduction in the common contingencypayments payable by the employer bya specific percentage (between 25%and 100%) for a specified time period(not exceeding two years).

2.5.4 SOCIAL SECURITY

Through the Social Security system,the State guarantees the adequateprotection of the people included inits scope of application, as well as therelatives or assimilated workers incharge of these people, onoccurrence of the contingencies andsituations defined by the law.

In the case of contribution-basedbenefits (people carrying out aprofessional activity), the employersand/or workers themselves are underan obligation to make Social Securitycontributions in order to enjoy theprotection provided by the SocialSecurity system.

The main benefits are: health care,temporary and permanent incapacity,maternity, retirement, bereavementbenefits (for surviving children andspouses) and family benefits (forchildren under their charge, formultiple births).

In the case of non-contribution-basedor assistance benefits, the SocialSecurity system guarantees minimumbenefits for those people who do notcarry out a professional activity or wholack the necessary means, withoutneeding to have made contributionsfirst.

CONTRIBUTION-BASED

Employed or self-employed workers who have made Social Security contributions

for the time required by law

NON-CONTRIBUTION-BASED

People who have NOT made Social Security contributions for the time required by

the law. This type includes disability and retirement pensions.

THE SPANISH SOCIALSECURITY SYSTEMRECOGNISES A SERIESOF BENEFITS WHICHMAY BE EITHER:

*The Social Security’s scope of coverage or protection makes a distinction between common contingencies (such as maternity)

and professional risks or contingencies (such as professional illness or accidents at work). Common contingencies represent

a higher financial cost for employers.38

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Social Security Contributions:

The contribution base is composed ofthe total remuneration received by theworker with a few qualifications (thereare maximum and minimumamounts). The amount of thecontributions is calculated byapplying a contribution rate to thebase established by the government.

Self-employed Workers (SpecialRegime for Self-employed Workers,RETA):Self-employed workers are governedby a special Social Security regime

with its own rules distinct from theregime governing employed workers(RETA).

The maximum contribution base forself-employed workers in 2006 was€2,897.70 per month, and theminimum base was €785.70 permonth. For workers aged 50 or over,the minimum base was €809.40 permonth and the maximum was€1,509.90 per month (although thelegislation includes some specialcases). However, in the case ofworkers of 30 years or under and, insome cases, women of 45 or more,

the contribution base is between thefollowing amounts: 610.80 €/monthand 2,897.70 €/month. Thecontribution rate is 29.80%. If theworker has not claimed temporaryincapacity benefit, the contributionrate will be 26.50%.

Employed Workers (General Regime):In Spain, Social Security contributionsare paid by both employers (30.60%)and employees (6.35%). These SocialSecurity payments are divided intocontributions for different items, suchas workers’ health care coverage andcoverage for temporary incapacity forwork arising from common illness,non-work accidents, etc.

Employer Worker Total

Common contingency contribution rate (%) 30,60 6,35 36,95

2006 Contribution Bases

maximum minimum

2006 monthly contribution bases. €2.897,70 €*881,25

2.6INCENTIVES, SUBSIDIES AND FINANCING

2.6.1 INCENTIVES ANDSUBSIDIES

The CIDEM website contains a searchfacility for incentives and subsidies(FISUB). This includes all programmes,subsidies and financing offered by theCatalonian and Spanish Governments andthe European Union. It has over 200records which are updated on a dailybasis. These incentives are intended forcompanies established in Catalonia,regardless of the nature of their business,and for our entrepreneurs. The databaseshows not only those incentives which areapplicable at the time of the query, but alsoany which are offered on a regular basisduring the current year.

The investment incentives available inBarcelona will encourage you to takeadvantage of the many benefitsBarcelona can offer your company. Inorder to provide the best possibleservice to companies wishing to dobusiness in Catalonia, comprehensivestudies of the technicalcharacteristics of each investmentproject are conducted and companiesare informed of all the availableincentives offered by the EuropeanUnion and by the local, Catalan andSpanish administrations.

2.6.2 FINANCIALINSTRUMENTS

Financial support may be obtained bymeans of various differentinstruments, which may take the formof incentives and subsidies, andfinancing from own or externalresources, among others. These maybe provided by the Catalonian orSpanish Governments, the EuropeanUnion or privately. These incentivesare intended for companies wishing toset up in Catalonia, regardless of thenature of their business.

*(this will in any event depend on the worker's professional category).

EMPLOYED WORKERS

Barcelona’s current financialenvironment includes a great varietyof financial instruments aimed ateach specific need. The aim of thisprogramme is to promote the start-up,growth and sustainability of innovativecompanies and to help them accessthe most appropriate financing fortheir needs by generating anddisseminating good market practices.

Barcelona has a number of productsand services which provide financialsupport with its own equity:

A) Capital Funds:

- Catalana d'iniciatives: a venturecapital company which supportsbusiness growth projects, MBOsand MBIs.www.cidem.com/cidem/cat/serveis/

financament/propis/fonscapi/iniciatives/

index.jsp

- Invercat: a venture capital fund forthe internationalisation of Catalonianenterprise.www.invercatexterior.com/invercat.htm

- Innocat: a venture capital fund forinnovative Catalonian SMEs. www.cidem.com/cidem/cat/serveis/

financament/propis/fonscapi/innocat/

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- Invernova: a venture capital fund forinvesting in innovative technology-based businesses at the initialdevelopment stages.www.Invernova.org

- BCNEmprèn: a venture capitalcompany which aims to encouragethe creation of innovative andtechnology businesses through theuse of investment financialinstruments and by giving strategicsupport to these new initiatives. www.bcnempren.com

- Invertec: a company which aims toinvest in technology-basedcompanies during the very firststages of development (initialphases).www.cidem.com/cidem/cat/suport/

emprenedor/inversio/index.jsp

- Finaves: a venture capital companywhich aims to support the launchand start-up of innovative projectswith growth potential, mainlypromoted by former IESE mastersstudents.www.cidem.com/cidem/cat/suport/

financament/propis/fonsdecapital/finaves/

index.js

- Innova31: a venture capitalcompany which invests intechnology companies at the initialdevelopment stages.www.innova31.com

- Corsabe: a venture capital companywhich invests in emerging sectorcompanies at the developmentstage.www.corsabe.es

- WebCapital: a venture capitalcompany which invests incompanies from the technologysector at their initial stages,including both initial and start-upstages.www.rivaygarcia.es/cas/capitaldes/

webcapital.htm

- Venturcap: a generalist venturecapital company.+ Information: (+34) 93 467 80 80

- Aurica XXI: a generalist venturecapital company.www.bancosabadell.com/en/NUESTROS_NE

GOCIOS/NEGOCIOS_SECTORIALES/CAPITAL_

DESARROLLO/

- Reus Capital de Negocis: a venturecapital company which buys sharesin companies from the food andagriculture, tourism, environmental,IT and biotechnology sectors at theinitial stages.www.reuscn.com

- Landon Investment: a venture capitalcompany which invests incompanies of any sector.+ Information: (+34) 93 240 52 00

- Instituto de Crédito Oficial (OfficialCredit Institute, ICO): a public entitywhose mission is to providefinancing for the private sector bymeans of loans with prime termsand conditions.www.ico.es

- Empresa Nacional de Inovación(ENISA): a company which fundsbusiness expansion projects bymeans of participating loans.www.enisa.es

- Centro para el Desarrollo Tecno-lógico Industrial (Centre for

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INCENTIVES FOR INVESTMENT

Incentives for investment in mining areas.

Incentives for investment in reindustrialisation actions.

Support Programme for Job Creation through the Incorporation of New Activities (“Creaciód’ocupació mitjançant la incorporació de Noves Activitats”)”.

RDI (Research, Development and Technological Innovation) INCENTIVES:

1. Ministry of Employment and Industry (Departament de Treball i Indústria). CatalonianGovernment (Generalitat de Catalunya).

There are different programmes according to the type of R&D project: R&D in strategic sectors:pharmaceutical (including fine chemistry), aerospace, food and agriculture and machinery forrenewable energies.

R&D in sectors affected by international competition (priority is given to the car and motorbike,textile and clothing, and consumer electronics industries).

Technology R&D platforms.

Outsourcing of RDI projects to local R&D centres.

2. PROFIT: R&D projects (Department of Industry, Tourism and Commerce; Department ofEducation and Science).

3. CDTI: financing for R&D projects.

4. CIDEM incentives for the certification of projects as RDI activities (with regard to corporateincome tax allowances for RDI projects).

5. Tax allowances for RDI activities. These allowances are applied to corporate income tax (IS).

6. Torres Quevedo: recruitment of doctors and technologists - Department of Education andScience.

INCENTIVES FOR EDUCATION:

Ministry of Employment and Industry: subsidies to companies for professional training activitieswith an obligation to hire. These are aimed at unemployed workers.

Ministry of Employment and Industry: a programme to support the training of unemployed people.

OTHER INCENTIVES

A programme to support the setting up of company head offices in Catalonia related to decisioncentres or centres of excellence at the supraregional level.

Incentives to hire people belonging to certain groups.

Foundation for continuing education.

- BanSabadell Inversió Desenvolupa-ment: a company specialising intemporary investment in companieswith expansion projects.www.bancosabadell.com

- Litexco: a company which invests indevelopment businesses of anysector at the initial stages.www.litexco.com

- Gestora Finances per a Emprenedors(La Caixa): an initiative from LaCaixa bank to promote and invest,through a participating loan ofbetween €100,000 and €200,000,in new or recently created enterpriseprojects.http://portal1.lacaixa.es/Channel/Ch_Redire

ct_Tx?dest=1-13-10-00000002

B) Inversors Privats:

CIDEM has a network of privateinvestors to encourage the creationand development of innovativebusinesses with a high growthpotential in Catalonia which are willingto fund new businesses or businessesat the initial stages, and to advise andwork with them.

C) Public Financing Entities:

- Capital Concepte: by supporting thetechnology springboards ofCatalonian universities, Invertec canprovide up to €100,000 in the formof participating loans with primeinterest rates and repayment terms.www.cidem.com/cidem/cat/suport/emprene

dor/inversio/index.jsp

- Institut Català de Finances (CatalanInstitute of Finance, ICF): a publicentity whose mission is to providefinancing to the private sector bymeans of participating loans andcredits (external resources).www.icfinances.com/home/c_home.as

- Avalis de Catalunya: a reciprocalguarantee company whose aim is togive financial and technicalguarantees to small and medium-sized companies, self-employed andprofessionals.www.avalis-sgr.com

Industrial Technology Development,

CDTI): a body which, among other

things, offers loans to innovative

businesses at the initial stage.

www.cdti.es

There is a broad range of possibilities

for finding financing for your project.

The exact tools required to carry out

your activity, together with complete

and up-to-date expert information on

each of these financial products, are

put at your disposal to enable you to

choose the right source of financing at

any given time.

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Public Administration (general)- Barcelona City Council07

- Barcelona City Council – EconomicPromotion Sector06

- Catalonian Investment Agency22

- Centre for Innovation and BusinessDevelopment (CIDEM)23

Airports / Ports / Logistics- Barcelona Airport 05

- Barcelona Port Authority12

- Barcelona Logistics Centre10

- Integrated Centre for LogisticsActivities and Goods (CIMALSA)34

- Zona Franca Consortium60

- Zona Franca Logistics Park61

- Logistics Activity Area35

- Pacte Industrial de la RegióMetropolitana de Barcelona48

- Sistema d’informació Metropolitàd’Activitat Econòmica (SIMAE)51

Trade Associations and OfficialProfessional Associations

- Barcelona Medical Centre11

- Barcelona Design Centre08

- Barcelona Digital Foundation09

- Foundation for the Development ofthe Mediterranean Diet30

- Environmental Forum Foundation27

- Barcelona Aeronautics and SpaceAssociation04

- Official Association of Economistsof Catalonia43

- Official Association of IndustrialEngineers44

- Official Association of NotariesPublic of Catalonia45

Tax

- Tax Agency55

- Ministry of Economy and Finance38

- Cadastral Management and TaxCooperation19

- Municipal Institute of the Treasury41

Barcelona Economic and SocialAgents and Institutions

- Barcelona Stock Exchange15

- Cercle d’Economia24

- General Direction of Trade and

Investment30

- Property Management and Tax

Cooperation55

- Territorial Direction of Trade of

Catalonia56

- Barcelona Promoció Foundation13

- Airport Management and

Promotion02

- Mercabarna36

- Patronat Català Pro-Europa49

- Strategic Metropolitan Plan of

Barcelona54

- Casa Àsia20

Institutions and ServicesSupporting Enterprise

- Barcelona Activa03

- Official Chamber of Commerce,

Industry and Navigation of

Barcelona46

- Consortium for the Commercial

Promotion of Catalonia (COPCA)26

- Foment de Treball28

- Pimec50

- Official Register – Unified

Management Offices47

- Mercantil Register37

Labour

- Workers’ Trade Union of Catalonia

(CCOO)59

- Labour Inspectorate34

- Immigration Bureau32

- Ministry of the Environment and

Housing39

- Social Security Treasury52

- General Workers’ Union (UGT)31

Tourism

- Barcelona Trade Fair17

- Barcelona Tourism Board16

- Catalonia Tourism Board21

University / Scientific

- Barcelona University Centre(BCU)18

- Spanish National Research Council(CSIC)53

- Ministry of Universities, Researchand the Information Society(DURSI)40

- CIDOB Foundation25

- Network of Science and TechnologyParks of Catalonia (XPCAT)42

City Planning – Real Estate

- Barcelona Regional14

- The Property Registry58

- 22@bcn Society01

Chambers of commerce andforeign offices for commercialaffairs - Chambers of Commerce62

- Offices for Commercial Affairs63

BY TOPIC

The numbering corresponds to the position inthe alphabetical classification on page 44 andfollowing pages

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3.2.1 INSTITUTIONALECONOMIC AGENTSOF THE BARCELONAAREA

- 22@bcn Society (Societat 22@bcn): a

body with legal personality which

brings together the appropriate

instruments and competences to

manage the transformation process of

the activity district 22@ with the

development and execution of all

kinds of city planning actions in

Barcelona city’s industrial and

production areas classified as forming

part of 22@, and therefore linked

together in terms of planning,

management, projection and

execution.01

www.bcn.es/22@bcn

- Airport Management and Promotion

(Gestió i Promoció Aeroportuària -

GPA): its aim is to promote airport-

related activities and take part in the

management and promotion of

infrastructures, to offer services for

aviation and air transport and to

contribute to the development of the

industry related to this sector.02

www.gpa-aero.com

- Barcelona Activa: this is Barcelona City

Council’s local development agency,

specialising in supporting the creation

of businesses and promoting the

entrepreneurial spirit, job creation and

business cooperation.03

www.barcelonactiva.es

- Barcelona Aeronautics and Space

Association (Barcelona Aeronàutica i

de l’Espai - BAIE): an association

which promotes space and

aeronautics activities in the Barcelona

area and Catalonia.04

www.bcnaerospace.org

- Barcelona Airport (Aeroport de

Barcelona): this is the second largest

airport in Spain in terms of number of

passengers, and the air hub which best

connects the Mediterranean area.05

www.aena.es/barcelona

- Barcelona City Council – Economic

Promotion Sector (Ajuntament de

Barcelona - Promoció Econòmica) 06

www.bcn.es/barcelonanegocis

- Barcelona City Council (Ajuntament de

Barcelona) 07

www.bcn.es

- Barcelona Design Centre (Barcelona

Centre de Disseny - BCD): a foundation

which promotes design in the business

context as a key factor for innovation

and competitiveness.08

www.bcn.es

- Barcelona Digital Foundation (Fundació

Barcelona Digital): a foundation which

promotes and encourages Barcelona

and Catalonia as a strategic centre for

creating and starting up innovative

projects, businesses and companies in

the new technologies and advanced

services.09

www.bcndigital.org

- Barcelona Logistics Centre (Barcelona

Centre Logístic - BCL): an organisation

which tries to boost the Barcelona

area logistics community, coordinate it

and provide it with services and

infrastructure to consolidate its

position in the Euromediterranean

area.10

www.bcncl.es

- Barcelona Medical Centre (Barcelona

Centre Mèdic - BCM): an association

which provides infor-mation regarding

the city’s health services and facilitates

access to Barcelona’s traditionally

internationally renowned hospitals,

clinics and health care units,

coordinating the available services.11

www.bcm.es

- Barcelona Port Authority (Autoritat

Portuària de Barcelona): this sets the

guidelines for Barcelona Logistics

Activity Area (ZAL) and its future

expansion.12

www.apb.es

- Barcelona Promoció Foundation

(Fundació Barcelona Promoció): a

private foundation for culture,

promoted by Barcelona Chamber of

Commerce, with the goal of promoting

the city of Barcelona.13

www.barcelonapromocio.org

- Barcelona Regional: an agency which

analyses and makes technical

proposals for reflection in the city

planning development and in-

IN ALPHABETICAL ORDER3.2

45

frastructure fields in Barcelona

metropolitan area.14

www.bcnregional.com

- Barcelona Stock Exchange (Borsa de

Barcelona) 15

www.borsabcn.es

- Barcelona Tourism Board (Turisme de

Barcelona): consortium for the

promotion of tourism, divided and

customised, of the world’s most

appealing markets. It includes a unit

specialising in promoting conferences

and conventions: Barcelona

Convention Bureau.16

www.barcelonaturisme.com

- Barcelona Trade Fair (Fira de

Barcelona): it organises industrial and

professional events. It is one of the

sector’s top four institutions in Europe

in terms of number of events.17

www.firabcn.es

- Barcelona University Centre

(Barcelona Centre Universitary - BCU):

an organisation which promotes the

city as a university destination and

provides information and services to

foreign students.18

www.bcu.cesca.es

- Cadastral Management and Tax

Cooperation (Gestió Cadastral i

Cooperació Tributària) 19

www.catastro.meh.es

- Casa Àsia: this is the Spanish doorway

to Asia and the Pacific region, and is

based in Barcelona. This public

institution aims to contribute to a better

mutual acquaintance and to facilitate

the exchange of culture, ideas and

projects of mutual interest.20

www.casaasia.org

- Catalonia Tourism Board (Turisme de

Catalunya): a body which promotes

tourism activities in Catalonia.21

www.catalunyaturisme.com

- Catalonian Investment Agency (Agència

Catalana d’Inversions) -CIDEM: an

organisation belonging to the Catalan

Government’s Ministry of Employment

and Industry whose main aim is to

boost production business investment

in Catalonia.22

www.catalonia.com

- Centre for Innovation and Business

Development (Centre d’Innovació i

Desenvolupament Empresarial -

CIDEM): an organisation belonging to

the Catalan Government’s Ministry of

Employment and Industry, a service

which supports Catalonia’s business

network.23

www.cidem.com

- Cercle d’Economia: an institution

founded in Barcelona to bring Spanish

social and economic life up to date.24

www.circuloeconomia.com

- CIDOB Foundation (Fundació CIDOB): a

centre for research, teaching,

documentation and dissemination of

international relations and

development, based in Barcelona.25

www.cidob.org

- Consortium for the Commercial

Promotion of Catalonia (Consorci de

Promoció Comercial de Catalunya -

COPCA): a body aiming to support the

internationalisation of Catalonian

businesses.26

www.copca.com

- Environmental Forum Foundation

(Fundació Fòrum Ambiental): this

brings together the companies in the

Catalonian environmental sector.27

www.forumambiental.org

- Foment de Treball: the Catalonia

business confederation, which

supports business activities and takes

active part in Catalonia’s economic

and business sphere.28

www.foment.com

- Foundation for the Development of the

Mediterranean Diet (Fundació per al

Desenvolupament de la Dieta

Mediterrànea): an organisation

working to ensure a better knowledge

and appreciation of Mediterranean

products and lifestyle in every corner

of the planet.29

www.dietamediterranea.com

- General Direction of Trade and

Investment (Direcció General de

Comerç i Inversions): the body in

charge of the registration process for

foreign investment in Catalonia.30

www.mcx.es/polco/default.htm

- General Workers’ Union (Unió General

de Treballadors - UGT): a nationwide

trade union which is a founding

member of the International

Confederation of Free Trade Unions

and the European Confederation of

Trade Unions. It is defined as a

working class trade union, with a

socialist orientation, for the

transformation of society.31

www.ugt.es

- Immigration Bureau (Officina

d’estrangers): this bureau is the main

point of reference for information about

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the phenomenon of migration.

Comprehensive up-to-date information

can be obtained here. In addition, work

applications and residence permits are

processed here.32

www.infoext@oue.barcelona.map.es

www.mir.es

- Integrated Centre for Logistics

Activities and Goods (Centre Integral de

Mercaderies i Activitats Logístiques -

CIMALSA): a public company

belonging to the Catalonian

Government which plans, manages

and administers infrastructure and

equipment relating to transport and

communications.33

www.cimalsa.es

- Labour Inspectorate (Inspecció de

Treball) 34

www.gencat.net/treballiindustria

- Logistics Activity Area (Zona

d’Activitats Logístiques - ZAL): a body

which manages services and facilities

for multimodal logistics activities in

Barcelona.35

www.zal.es.

- Mercabarna: the largest food and

agriculture centre in southern Europe,

supplying over 10 million people.36

www.mercabarna.es

- Mercatile Register (Registre

Mercantil): the body in charge of

registering public documents and

conferring on new businesses full legal

capacity to act.37

www.rmc.es

- Ministry of Economy and Finance

(Departament d'Economia i Finances):

the body in charge of collecting the

various taxes.38

www.e-tributs.net

- Ministry of the Environment and

Housing (Departament de Medi

Ambient i Habitatge): the authority

with competence in environmental

action matters.39

http://mediambient.gencat.net

- Ministry of Univerities, Research and

the Information Society (Departament

d'Universitats, Recerca i Societat de la

Informació - DURSI): a department of

the Catalonian Government with

information regarding university and

research centres, data regarding the

information society, etc.40

www.gencat.net/dursi

- Municipal Institute of the Treasury

(Institut Municipal d’Hisenda): its aim

is to manage, collect and inspect

taxes, prices to the public, fines and

other public law income for the City

Council, its independent bodies and

other public entities.41

www.bcn.es/hisenda

- Network of Science and Technology

Parks of Catalonia (Xarxa de Parcs

Científics de Catalunya - XPCAT): this

groups together ten large production,

transfer, dissemination and use of

knowledge spaces, and acts as a point

of contact in the research and

innovation community. It comprises

university research centres and

groups, and research institutes and

businesses, and creates new

knowledge-based businesses with the

aim of creating added value in their

activities.42

www.xpcat.net/

- Official Association of Economists of

Catalonia (Col·legi Oficial d’Economistes

de Catalunya): a professional body

offering services to economists as a

group.43

www.coleconomistes.com

- Official Association of Industrial

Engineers (Col·legi d’Enginyers

Industrials): a professional body

offering services to engineers as a

group.44

www.eic.es

- Official Association of Notaries Public

of Catalonia (Col·legi de Notaris de

Catalunya) 45

www.colnotcat.es

- Official Chamber of Commerce,

Industry and Navigation of Barcelona

(Cambra Oficial de Comerç, Indústria i

Navegació de Barcelona): an

independent body which defends the

interests of businesses and

entrepreneurs in the Barcelona area in

relation to their commercial and

professional relationship.46

www.cambrabcn.es

- Official Register – Unified Management

Offices (Registre Industrial - Oficines

de Gestió Unificada): it manages, in

a unified manner, the steps under

the Catalonian Government’s

competence which must be taken to

start up an industrial activity.47

www.ogu.es

- Pacte Industrial de la Regió

Metropolitana de Barcelona: this is a

regional association, formed by local

administrations, trade unions and

business associations, and a broad

range of bodies and organisations

linked to economic development

and the promotion of employment.48

www.pacteind.org

47

- Patronat Català Pro-Europa: a public

consortium created in 1982 to

disseminate the information

generated by the EU institutions to

increase awareness of the EU’s

policies and actions in Catalonia.49

www.infoeuropa.org

- Pimec: an employers’ association

targeted at small and medium-sized

businesses to defend their interests

and particularly to help them adapt

to the changing economic reality

around them.50

www.pimec.es

- Sistema d’informació Metropolità

d’Activitat Econòmica (SIMAE): an

interactive consultation system

whose aims are to bring together

training and production systems and

the different agents in the region in

the context of economic activity and

innovation in the whole of the

Barcelona metropolitan area.51

www.mcrit.com/simae

- Social Security Treasury (Tesoreria

de la Seguretat Social): a body

where businesses can register their

workers. It is also in charge of

collecting Social Security

contributions.52

www.seg-social.es

- Spanish National Research Council

(Consejo Superior de Investigaciones

Científicas - CSIC): this is the largest

public research body in Spain. It

encom-passes all fields of

knowledge, from basic research to

the most advanced technological

developments.53

www.csic.es

- Strategic Metropolitan Plan of

Barcelona (Pla estratègic metropolità

de Barcelona): a body which groups

together the initiative and involvement

of society to face the challenges posed

by the Barcelona of the future, from

both the scientific (headed by the

university) and the economic (with

business, institution and trade union

representatives) worlds.54

www.bcn2000.es

- Tax Agency ( Agència Tributària): the

public body in charge of managing the

State and customs tax system as well

as the resources of other Spanish or

European Union public institutions

and administrations.55

www.aeat.es

- Territorial Direction of Trade of

Catalonia (Direcció Territorial de

Comerç de Catalunya): this office,

belonging to the Ministry of Industry,

Tourism and Commerce, provides

information regarding external

markets, formalities and data on

exports, imports and commerce in

Catalonia. It is associated with the

Spanish Institute of Commerce Abroad

(ICEX).56

www.mcx.es/barcelona

- Territorial Services of the Ministry of

Employment and Industry of the

Government of Catalonia (Serveis

Territorials del Departament de

Treball) 57

www.gencat.net/treballiindustria

- The Property Registry (Registre de la

Propietat Immobiliària): A record giving

notice of ownership of real property to

third parties.58

www.registradores.org

- Worker’s Trade Union of Catalonia

(Comissió Obrera Nacional de

Catalunya - CCOO): federació territorial

del sindicat Comisiones Obreras,

d'àmbit estatal, que es defineix com

sindicat reivindicatiu, de classe i unitari

per a la defensa dels drets dels

treballadors i treballadores.59

www.ccoo.es

- Zona Franca Consortium (Consorci de la

Zona Franca de Barcelona): a body

which develops strategic city projects

in the real property and logistics fields

and promotes economic activities

associated with the new information

technologie.60

www.elconsorci.net

- Zona Franca Logistics Park (Parc

Logístic de la Zona Franca): a company

offering national and international

businesses a unique opportunity,

which will not be repeated, to set up

both their logistics activities and their

company headquarters in Barcelona.

This is consolidated as the main

logistics centre in southern Europe.61

www.parclogistic.es

CHAMBERS OF COMMERCE 62

- American Chamber of Commerce inSpain: (+34) 93 415 99 63

- American Consulate General: (+34) 93 280 22 77

- German Chamber of Commerce inBarcelona: (+34) 93 415 54 44

- Belgium and Luxembourg Chamberof Commerce: (+34) 93 237 94 64

- British Chamber of Commerce inSpain: (+34) 93 317 32 20

- Chilean Chamber of Commerce: (+34) 93 310 15 85

- Mexican Chamber of Commerce:(+34) 93 215 45 60

- UK Chamber of Commerce:(+34) 93 317 32 20

- French Chamber of Commerce andIndustry: (+34) 93 270 24 50

- Italian Chamber of Commerce andIndustry: (+34) 93 318 49 99

- Spanish Russian Chamber ofCommerce: (+34) 93 218 72 95

- Spanish Indian Chamber ofCommerce: (+34) 93 318 84 41

- Spanish Israelian Chamber ofCommerce: (+34) 93 321 94 49

- Spanish Norwegian Chamber ofCommerce: (+34) 93 414 40 41

- Spanish Swedish Chamber ofCommerce: (+34) 93 488 05 03

- Languedoc-Roussillon Chamber ofCommerce: (+34) 93 412 14 90

OFFICES FOR COMMERCIALAFFAIRS 63

- Danish Trade Commission:(+34) 93 487 54 86

- Québec Government in Barcelona:(+34) 93 481 31 88

- Italian Institute for Foreign Trade:(+34) 93 415 38 38

- Argentinean Office for CommercialAffairs: (+34) 93 302 22 16

- Austrian Office for CommercialAffairs: (+34) 93 292 23 78

- Belgian Office for CommercialAffairs: (+34) 93 487 81 40

- Hong Kong Office for CommercialAffairs: (+34) 93 236 09 30

- Swiss Office for Commercial Affairs:(+34) 93 330 92 11

- Toulouse Office for CommercialAffairs: (+34) 93 201 23 31

- UK Office for Commercial Affairs:(+34) 93 366 62 00

- Portugal Tourism Board –Investments, foreign trade: (+34) 93 301 44 16

3.2.2 CHAMBERS OF COMMERCE AND FOREIGN OFFICES FOR COMMERCIAL AFFAIRS IN BARCELONA

48

FOR MORE DETAILED INFORMATION ON EACH OF THE ABOVE SECTIONS,PLEASE CONTACT THE FOLLOWING OFFICES:

CIDEMPasseig de Gràcia, 12908008 Barcelona, SpainTel. +34 934 767 200www.cidem.com

Ajuntament de BarcelonaSector de Promoció Econòmica(Economic Promotion Sector) Avinyó 7, 1r08002 Barcelona, SpainTel. +34 934 027 478Fax. +34 934 027 597www.bcn.es/barcelonanegocis

A practical Guide to doing Business in the City

BARCELONA, A GOOD INVESTMENT

www.bcn.es

BARCELONA Passeig de Gràcia 12908008 Barcelona, SpainTel: +34 934 767 291Fax: +34 934 767 303catalonia@cidem.gencat.netwww.catalonia.com

MADRIDMontalbán 9, 2º dcha.28014 Madrid, SpainTel: +34 915 241 000Fax: +34 915 241 001creyes@cidem.gencat.net

NEW YORK445 Park Avenue, 14th floor10022 New York, USATel: 1 212 775 8830Fax: 1 212 755 8837cidem@catalonia.com

TOKYOShuwa Kilicho TBR Building 11185-7 Kojimachi, Chiyoda-Ku102-0083 TokioTel: 81 3 3222 1571Fax: 81 3 32222 1573info@cidemtokyo.comwww.spain-japan.com/2/cidem

A practical Guide to doing Business in the City

BARCELONA, A GOOD INVESTMENT