MBA Spain

Money and Finance in Spain


 

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As in most countries of European Union, the currency in Spain is the Euro (). The coins and the notes are easily recognizable after a while. The largest of the coins is 2 and the smallest of the notes is 5. The notes are different from each other by size and color. The exchange rate from the Euro to the Peseta (Spain's old currency) is 1 = 166,386 Pesetas. In Spain, The Ministry of Finance or Hacienda, oversees the financial system in general.


Banking in Spain & Transfers of founds
There are a great number of banks in Spain. The Bank of Spain is the instrument of monetary policy as well as the direct overseer of the banks and banking activity...


Taxes
Spain has a double taxation agreement with many countries; this agreement allows you a tax credit in the US for taxes paid in Spain and visa versa. Paying for Permits and Taxes in Spain may be advantageous in some cases...


Mortgages
Most banks in Spain offer mortgage facilities to clients and non-clients who be over 25 and have a fixed employment...



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