Exporting to the United Kingdom

United Kingdom of Great Britain and Northern Ireland

Opportunities for Spanish companies in the UK

Strengths

  • Extensive network of infrastructures via air land and sea alike, with good access to the European market, since it is part of the EU.
  • European and international financial centre. Some 43% of the headquarters of new companies that seek international expansion are located in the UK.
  • The UK government is creating the most competitive tax regime for companies of the entire G20.
  • Geographical proximity: from 2 to 2.5 hours of flight from Madrid/Barcelona/Bilbao – London/ Birmingham/Manchester.
  • Political stability.
  • The UK is the 6th largest importer worldwide and the world’s 11th largest exporter.
  • Large supply of skilled labour.

Investments

  • Civil work, modernisation and extension of infrastructures.
  • Transport and logistics services, engineering and consulting.
  • Manufacturing companies.
  • Renewable energies (eolic, solar photovoltaic).
  • Over 300 subsidiaries of Spanish companies exist in the United Kingdom.

Weaknesses

  • Due to the large number of companies established in the United Kingdom, a lot of competition exists to enter the market.
  • The fact that the UK does not belong to the Monetary Union of the EU obliges foreign companies to work with the pound sterling, which can generate exchange rate costs.
  • Great influence of the financial sector in the GDP.

Outlook

  • Forecast growth for 2014 is 0.6%

Contact

United Kingdom

122 Leadenhall St.
London EC3V 4AB

 

Contact details
Manager: Carlos Franqués
Tel. (+44) 207 321 0020

 

Contactar

Form of government

Parliamentary monarchy

Official language

English

Currency

Pound sterling (GBP)

Exchange rate

1 euro = 0.83 GBP (March 2014)

Religion

Christianity (71.8%)
Islam (2.7%)
Hinduism (1%)
Others (24.5%)

Population

63.8 million (2013)

Time difference

+1 hour

Banco Sabadell in the United Kingdom

BS Team in the United Kingdom.

Experience

The first office representing Banco Sabadell in the UK was established in London in the year 1978, and it became an operating branch in January 1986, nearly a decade later.

Banco Sabadell in the UK has been providing financial support to Spanish companies with a presence and/or commercial interests in the country for the last 28 years, offering its knowledge and experience in the British market.

The office covers the entire country and puts the service of a professional and expert team at the disposal of customers.

Services

  • Opening of business accounts: the account holder can be a Spanish or British company or from other countries.
  • Current account and deposit in pounds sterling or multi-currency (euros, USD, etc.).
  • International transfers and reception of payments.
  • Foreign commerce operations (letters of documentary credit, remittances, etc..).
  • Domestic/international guarantees/avals.
  • Electronic banking via the bank’s website.
  • Treasury management.
  • Project and structured finance.