New Entrepreneurial Act -passed by the Spanish Congress last July- supports the figure of the ‘Business Angels’, private investors that, in group or individually, invest on the growth of a company which is usually located around them. In recent years, this way of funding has meant an important incentive for Small and Medium-Sized Enterprises (SMEs) and entrepreneurs against the problems found nowadays in the traditional systems of bank funding.

Thanks to this new act (still to be approved by the Senate) ‘Business Angels’ will have twenty per cent tax reduction from Income Tax with a maximum discount of 50,000 Euros per year.

The extension of limited fees for self-employed and supporting measures to stimulate bank loans to companies are other measures included in the new act.

If you want to know the act in detail, please click here