From this key hub within its global network, the firm advises international investors seeking to establish operations in Spain. Among many other advantages, clients particularly value “Madrid’s role as a bridge to Latin America and as a gateway to Europe.”
With fourteen years of experience in the city, the partners Laura Martín and Luis Castro, Directors of Osborne Clarke’s Madrid office, are well placed to assess how perceptions of Madrid have evolved. “The transformation has been remarkable,” they note. “In 2012, Spain was going through a deep economic crisis, and external perceptions were shaped by uncertainty. Today, Madrid projects a radically different image: that of a modern, dynamic European metropolis, open to business and supported by a public administration firmly committed to attracting investment.”
Osborne Clarke is an international law firm of British origin with a strong specialization in innovative and regulated sectors. For those who may not be familiar with the firm, how would you describe its global positioning and the role of the Madrid office within that international network?
Osborne Clarke is an international law firm with a presence in more than 25 locations across Europe, the United States, and Asia, and with its roots in the United Kingdom. We specialize in innovative and highly regulated sectors, including technology, media and communications, energy, real estate, life sciences, and infrastructure, among others. What sets us apart is our ability to combine deep sector expertise with first-class legal advice, supporting our clients throughout their growth and transformation.
The Madrid office plays a key role within our international network. Spain serves as a natural gateway to Europe for U.S. and Latin American investors, and Madrid has firmly established itself as a vital hub for both the Iberian and Latin-American markets. Reflecting the growing importance of Latin American investment in Europe, Osborne Clarke has a dedicated LatAm desk led by Madrid-based lawyers with extensive experience in the region.
Our multidisciplinary team works closely with colleagues across our global network, enabling us to provide clients with a genuinely international perspective while retaining the local insight that is essential for success. This represents a clear competitive advantage over firms with a purely domestic footprint, as we can support clients not only when entering the Spanish market, but also as they expand into other European jurisdictions.
The firm has now been present in Madrid for fourteen years. How has your presence evolved in the region, and what do you value most about being here?
Since opening our Madrid office in 2012, we have experienced sustained growth, both in terms of team size and the volume and complexity of the matters we handle. Today, Madrid is one of the firm’s most dynamic and strategically important offices.
What we value most about being in Madrid is the combination of factors that make it an outstanding place to do business: a vibrant and diverse corporate ecosystem, access to exceptional legal talent, a strategic geographic location connecting Europe, the Americas, and Africa, and a quality of life that helps attract and retain top professionals. In addition, the Spanish market has demonstrated remarkable resilience and adaptability in recent years, creating continuous opportunities for both our clients and our firm.
Since 2012, when you opened your office, the Madrid region has undergone a significant transformation as an investment destination. What image does it project internationally today?
The transformation has been remarkable. In 2012, Spain—like much of Europe—was facing a deep economic crisis, and international perceptions were shaped by uncertainty. Today, Madrid projects a very different image: that of a modern, dynamic European capital, open for business and supported by a public administration firmly committed to attracting investment. This is clearly reflected in the data, with more than two-thirds of all foreign direct investment in Spain concentrated in the Madrid region.
In particular, over the past five years, Latin American investment has gained significant momentum, moving beyond the widely discussed acquisition of luxury real estate toward productive investment with a tangible impact on both the Spanish and Madrid economies. This shift has helped attract strategic projects that might otherwise have been located in other major European capitals.
Internationally, Madrid is recognized as a city with world-class infrastructure, excellent air connectivity, and a competitive cost base compared with other leading European capitals. It also offers a highly favourable environment for key sectors such as technology, telecommunications and media, renewable energy—where many regional headquarters and decision-making centers are located—infrastructure and construction, transport and logistics, and financial services and insurance. In addition, Madrid has strengthened its position as a compelling alternative for companies seeking to maintain a strong presence within the European Union, as well as a leading destination for business tourism, including major trade fairs, international conferences, and corporate events.
How does this international image help your firm, which provides legal advice to major clients? Has it benefited your business?
Madrid’s growing prominence as an investment destination directly benefits firms like ours. Whenever an international company decides to establish or expand operations in Spain, it requires specialized legal advice across a wide range of areas, including corporate, tax, employment, real estate, and regulatory matters. The more companies consider Madrid, the greater the demand for sophisticated, high-quality legal services.
Moreover, the city’s strong international reputation enhances our conversations with global clients. When we recommend Madrid as a location for an investment, a corporate structure, or as the seat of an international arbitration, that recommendation is reinforced by the city’s credibility and attractiveness. It creates a virtuous circle: Madrid attracts investment, which generates legal and economic activity, further reinforcing its position as a leading investment destination.
From your experience, what are international companies and investors looking for when considering establishing themselves in Madrid?
Based on our experience, international investors tend to focus on three key factors, beyond the obvious consideration of sector-specific returns.
First, legal certainty and regulatory stability: investors need to be confident that the rules are clear, predictable, and consistently applied. Second, access to talent: Madrid offers highly skilled professionals across technology, engineering, finance, and professional services, at competitive labor costs compared with other European capitals. Third, quality of life: for companies relocating executives or teams, factors such as climate, cultural offerings, safety, and healthcare play a decisive role.
Investors also value Madrid’s strategic position as a bridge to Latin America and a gateway to Europe, the city’s ease of doing business, the availability of high-quality office space, and the innovation ecosystem that has flourished in recent years.
Does Osborne Clarke offer any specific services to support foreign investors or companies seeking to establish themselves in Madrid? In this regard, have you worked with the public administration to join forces?
At Osborne Clarke, we provide a comprehensive service to support foreign investors establishing operations in Spain. This includes advising on market entry structuring, the incorporation of companies and investment funds, tax and employment matters, regulatory compliance, and sector-specific regulatory advice. We also assist our clients in liaising with public authorities to obtain the necessary licenses and authorizations and provide specialized advice on competition law and foreign investment clearance. In addition, we offer expert support in complex litigation, whether before courts or arbitral tribunals.
Given the specific needs of international investors, we have a dedicated Latin America Desk to support investors from the region, as well as to assist our European clients with interests in countries such as Mexico, Colombia, Peru, and Chile. As part of our holistic approach—extending beyond legal advice—we work with leading external service providers and coordinate their services to ensure our clients receive fully integrated support.
We have collaborated with various public administration bodies on investment promotion initiatives. We regularly participate in forums, events, and trade missions showcasing Madrid as an investment destination, and we maintain close working relationships with public institutions responsible for investment attraction policies, including Invest in Madrid and the Madrid Chamber of Commerce. We also work closely with major arbitration courts—where several of our professionals serve as national and international arbitrators—as well as with business associations based in Madrid.
We strongly believe that public-private collaboration is essential to enhancing the region’s attractiveness, and the feedback we receive from our international clients regarding the support provided by these institutions is consistently excellent.
What do your international clients value most about Madrid’s business environment? Are there areas where improvements could still be made?
Our international clients particularly value the accessibility and professionalism of local counterparts, both in the private and public sectors. They highlight the quality of the infrastructure, excellent international connectivity, and the dynamism of the local market. They also frequently mention the city’s openness and the ease with which companies and professionals can integrate into the local business ecosystem.
As for areas of improvement, some clients note that certain administrative procedures could be further streamlined and digitalized, particularly in relation to permits, licenses, and urban planning processes. There is also scope to continue improving the efficiency of the judicial system, especially by reducing resolution times in civil and commercial cases. While meaningful progress has already been made in recent years, further improvements would enhance Madrid’s overall competitiveness.
Legal certainty is a key factor in attracting investment. What differentiates Madrid from other major regions in this regard?
Spain, and Madrid in particular, offers a robust legal framework aligned with the highest European standards. We have a mature legal system, specialized courts (although, as mentioned, this remains an area for improvement nationwide), a reliable land registry system, and a notarial system that enhances transactional security.
Madrid is also home to prestigious arbitration institutions such as the Madrid International Arbitration Center and highly specialized dispute resolution professionals, strengthening investor confidence. Membership in the European Union further ensures compliance with common standards on investment protection, competition, and sector regulation.
While legal certainty comes with regulatory complexity, this is precisely where we support international clients in successfully implementing their investment and business plans.
In what areas has Madrid become more attractive compared to markets such as London, Paris, or Frankfurt?
Madrid has become more attractive on several fronts. In terms of both cost of living and operating costs, the city remains significantly more competitive than London or Paris. The labour market offers highly skilled talent at comparatively lower cost, and although real estate prices have risen, they remain below those of other major European capitals.
Following Brexit, Madrid has also positioned itself as a credible alternative for companies looking to maintain a presence within the European Union. The city has successfully capitalized on this opportunity, attracting regional headquarters, shared service centres, and expanded operations from technology and financial firms.
Spain also benefits from an extensive network of 99 double taxation treaties and 60 investment protection agreements. Together with the favourable tax regime for foreign holding companies (ETVE), this makes Madrid an especially attractive location for establishing holding structures.
In addition, Spain offers favourable tax regimes for individuals relocating their tax residence to Madrid, as well as significant incentives for R&D activities, including reduced taxation on certain intangible assets.
Osborne Clarke was one of the sponsors of the Madrid Investment Forum. How would you assess the event?
The Madrid Investment Forum is an excellent initiative that clearly demonstrates Madrid’s institutional commitment to attracting investment. The event brings together top-tier investors, companies, and institutional representatives, creating an excellent platform for networking and dialogue.
As sponsors, we were delighted to participate in the second edition and contribute to discussions on Madrid’s future as an investment destination. Initiatives like this strengthen the region’s international profile and facilitate direct engagement between investors and Madrid’s business and institutional ecosystem. The growing number of participants and increasing visibility of the Forum each year reflects its success.
Finally, what message would you give to an international investor considering establishing operations in Madrid?
Our message is clear: Madrid is today one of the best locations in Europe to establish or expand a business. The city offers a unique combination of business ecosystem strength, legal certainty, talent, infrastructure, quality of life, and competitive costs. It also benefits from a responsive administration committed to facilitating investment.
At Osborne Clarke, we would be delighted to support any company or investor throughout this process. We understand the market, the needs of international investors, and have the capability to provide comprehensive legal support across all aspects of market entry and expansion. Madrid is a safe and strategic choice, and we are here to help make it happen.