The Kingdom of Spain is the Member State of the European Union and of the Economic and Monetary Union, formed by Euro-zone countries. The area consists of two autonomous cities - Ceuta and Melilla - and 17 autonomous communities including Balearic Islands and Canary Islands, and three small Spanish possessions off the coast of Morocco.
Total area of Spain is 505.370 sq.km, population is 46.934.632 (2021).
The capital is Madrid, the biggest city (population is over 5 million people).
Official language is Castilian Spanish - 74%. Catalan (17 %) is official in Catalonia, the Balearic Islands, and the Valencian Community, where it is known as Valencian; Galician (7%) is official in Galicia; and Basque (2%) is official in the Bascue Country.
Most population profess Catholicism (94%).
The official languages are English and French.
The official currency is euro (EUR). 1 USD is equal to 0.93 EUR (2022).
Climate of Spain is temperate; hot summers in interior, more moderate along coast; cold winters in interior; summer avg. max. day temperature in central Spain +30°C; avg. minimum winter temperature 5°C.
Time difference with Moscow is - 1 hour.
Literacy rate is 100%.
Calling code is +34.
Spain is a constitutional monarchy.
The head of state is the king. At present, the monarch is King JUAN CARLOS I (since 1975).
The executive power is vested in the Council of Ministers (cabinet) headed by the Prime Minister. Prime Minister is nominated and appointed by the monarch and confirmed by the Congress of Deputies following legislative elections.
Legislative branch is represented by the bicameral Parliament. General Courts or Las Cortes Generales (National Assembly) consists of the Senate or Senado (257 seats as of 2013) and the Congress of Deputies or Congreso de los Diputados (350 seats). Members of the Parliament are elected by universal suffrage for a four-year term.
Judiciary branch comprises Supreme Court or Tribunal Supremo which consists of the court president and is organized into the Civil Chamber, the Penal Chamber, the Administrative Chamber, the Social Chamber, and the Military Chamber. Constitutional Court (Tribunal Constitucional de Espana) consists of 12 judges; National Court (Tribunal Superior de Justicia); High Courts of Justice - in each of the autonomous communities (Audiencias Provinciales); provincial courts (Juzgados de primera instancia e instrucción); courts of first instance (juzgados de paz).
Each of the 17 Spanish Autonomous Communities can levy taxes; each has wide legislative and executive autonomy with their own parliament and regional governments.
Spain is one of the largest economies in Europe.
Spain’s main items of export are machinery, tourism and foodstuff. Spain’s main items of import are energy and manufactured goods. It is also a popular destination for retirement and second homes.
After almost 15 years of above average GDP growth, the Spanish economy began to slow down in late 2007 and entered into a recession in the second quarter of 2008 (as a consequence of international financial crisis).
The unemployment rate rose from a low of about 8% in 2007 to 26.0% in 2012. The economic downturn has also hurt Spain's public finances. The government budget deficit peaked at 11.2% of GDP in 2010 and the process to reduce this imbalance has been slow (10,6 % of GDP in 2012) despite the central government's efforts to raise new tax revenue and cut spending.
The Spanish government’s ongoing efforts to introduce flexibility into the labor markets are intended to assuage a source of concern for foreign investors.
The Spanish legal system is a civil law system based on comprehensive legal codes and laws rooted in Roman law.
The principal forms of business organization in Spain are:
Sole Trader (Empresario Individual or Autónomo)
General Partnership (Sociedad Regular Colectiva, abbreviated as “S.R.S.” or “S.C.”)
Limited Partnership (Sociedad en Camandita, abbreviated as “S. en Com. or “S. Com.”)
Cooperative (Sociedad Cooperativa)
Corporation (Sociedad Anónima, abbreviated as “S.A.”)
Limited Liability Company (Sociedad de Responsabilidad Limitada, abbreviated as “S.L.” or “S.R.L.”)
New Limited Liability Company (Sociedad Limitada Nueva Empresa abbreviated as “S.L.N.E.”)
In most cases, the choice is between Sociedad Limitada and Sociedad Anonima.