The Spanish Chamber of Commerce in the UK shares the interview with Mr Antonio Arenas, Managing Partner at our Member Scornik Gerstein LLP.
Could you describe your company’s activities in the UK? How long have you been operating in the country and which services do you offer?
We are a full-service law firm established in London since 1984. We strive to be a firm of first choice for clients seeking legal advice of high standard, from solicitors with extensive experience involving cross-border matters, particularly between the United Kingdom and Spain.
We are a multidisciplinary practice with expertise in Civil, Corporate, Litigation, Real Estate, Probate, Family, Employment, Taxation, Immigration and Criminal Law.
What advice would you give to Spanish businesses looking to expand or invest in the UK, and vice versa? Are there specific legal or regulatory considerations they should be aware of? What are some common legal misconceptions that businesses have when operating between Spain and the UK?
Some clients contact us with the misconception that establishing business relationships between the United Kingdom and Spain has become risky after Brexit, this idea however does not match reality. Fortunately, the period of uncertainty while the UK negotiated its withdrawal from the EU came to an end on 24 December 2020, when the EU-UK Withdrawal Agreement came into force on 1 January 2021. Interestingly, perhaps due to business and commercial reasons, the UK has copied European legislation almost word for word. As an example, the United Kingdom General Data Protection Regulation (UK GDPR).
What are some of the key legal challenges or opportunities you see in the current UK-Spain business landscape, and how do you help businesses navigate them?
The economic and legal UK landscape provides a very supportive environment for foreign investors and businesses. It is worth noting that the UK has consolidated its place as one of the best places in the world to do business according to the World Bank’s report, which assesses how easy it is for companies and investors to operate in each market according to the country’s regulations. On the other hand, Spain’s dynamic and diverse economy offers a wealth of opportunities for British companies across various sectors. Spain is the fourth largest economy in the EU and currently one of the fastest growing in the euro area. Those facts provide a perfect scenario for a best friends business relationship.
We have the capability to advice across the full spectrum of business, commercial and investment operations, designing a strategy-driven plan seeking growth while identifying potential adverse risks. As to the challenges, I would say that both share the challenge of lacking regulation dealing with new technologies. Unfortunately, technological innovation outpaces both countries’ capability to produce laws and regulations to keep up with. Accordingly, we advise companies on finding ways to adapt their tech business to the current legal landscape, while keeping an eye on any new regulation from which their business can benefit.
Looking forward, what are the emerging trends in your sector for the coming years?
Regarding the M&A sector, the Spanish market experienced significant growth in 2024, with a cumulative value of €95.971 billion, representing an increase of 8% of transactions compared to 2023. This has been translated into an increase of demand for legal advice at our firm from UK companies seeking to acquire Spanish companies to expand their business within the EU market.
