“Portugal is a fundamental trade partner for Spain”

The fourth destination country for Spanish exports

This country has focused on a day organized by Banco Santander in A Coruña with the collaboration of the law firms Caruncho & Tomé & Judel, Telles and the consulting firms Proactive and Proasa.

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A natural, close and easy growth market for Spanish companies. So is Portugal, a country that has focused a day organized by Santander Bank in A Coruña with the collaboration of law firms Caruncho & Tomé & Judel, Telles and the consultant Proactive and Proasa

 

Despite its small size, Portugal is a fundamental business partner for Spain and to Galicia. It is the fourth destination of the Spanish exports and the seventh importer towards Spain.

 

 

In this regard, the Portuguese administration encourages foreign investments and offers all kinds of facilities, not only at the level of company formation but also taxation.

 

"There are facilities on the part of the State and there are also practical facilities, nowadays establishing a company is a very simple procedure with very low costs, we have a company that can be operational in 24 hours," he points out. Leyre Prieto, social lawyer at the Portuguese firm Telles.

 

But to take the step of embarking on other markets, experts agree on one aspect: get good advice. In this sense, Banco Santander has commercial banking own there, and has the services of the Galicia-Portugal Corridor. As it explains Pedro Arias, director of International Business of the entity in Galicia, “it is the way in which the Bank seeks to collaborate with our clients to help them internationalize, in this case to Portugal, we try to do it in two ways: with a financial part and with a non-financial part, which is based at Santander Trade.com , the largest online portal for services international trade training and information , Y de International Desk, in which we introduce our colleagues from Portugal, to Galician companies that want to establish themselves there.”

 

On the other hand, from Caruncho & Tomé & Judel The role played by specialists such as your office is emphasized: “We fundamentally try to serve as a bridge for those clients who have companies in Spain or Galicia and they intend to expand into the market Portugal; "You can't start from scratch without support without help," he explains. Carlos Tome, partner of this firm.

 

In this sense, one way to start working in the Portuguese market is by using the figure of the a joint venture. By Rafael González, partner at Caruncho & Tomé & Judel,  “This figure is aimed at finding a local partner, support in the destination market. If we want commercial, technical, public relations support, and we consider that it is essential and that a local partner can provide us with this contribution, we understand that it is a very valid formula.”

 

In short, without fear, but with a internationalization project or with a good advice, leveraging the power of partners such as Santander, the disembarkation process in Portugal can be very successful for Spanish company.