Since 1986, the year of its entry into the European Economic Community, Spain has witnessed a net inflow of foreign investment. In the 1986-1996 period, Spain ranked fourth among OECD countries for foreign direct investment, surpassed only by the USA, the UK and France. Spain ranked first, however, in terms of profitability of investment, as measured by rates of return on capital in the business sector. This is the most common form of business organization. Minimum capital is 10 million pesetas.
Shareholders can be individuals or companies of any nationality or residence.
Some companies may elect to establish a branch , which must have a legal representative empowered by the home office to administer the affairs of the branch. Nonresident individuals and legal entities can hold bank accounts under the same terms as a Spanish citizen. Prior authorization for direct investment, real estate investment, joint ventures, etc. Prior authorization is required for investments by non-EU residents in certain business sectors, including gaming, television, radio, air transport and activities related to national defense. Basque is also considered an official language in the Basque-speaking parts of Navarre.