Ingelia presents its HTC technology in Brussels within the Spain Means Innovation program

Last 4th June 219, the Official Spanish Chamber of Commerce in Belgium and Luxembourg , in collaboration with the Embassy of Spain in the Kingdom of Belgium, organized the conference “Spanish Science Diplomacy. Ingelia, the success of a Spanish business model in Belgium based on HTC technology” within the Spain Means Innovation program.

During the conference, Marisa Hernández Latorre, founder of Ingelia and nominated last year for the EU Prize for Women Innovators, presented the technology developed by her company for 12 years, which has the aim of transforming waste into raw materials. Hernández highlighted the importance of HTC technology to support the local circular economy, not just because waste becomes raw materials that could be used for other industries, but because CO2 emission from transport could be reduce by installing transformations plants near the cities.

Moreover, the representative of Renasci, Luc Descender, partner of Ingelia in Ostende, standed out the difficulties that innovative technologies have to face, both administrative and funding, as well as the ones in product exportation.

The speakers remarked the relevance of this Spain means innovation’s kind of conferences in order to interact with other innovative companies and technologies, due to the fact that it was in a scientific forum where both companies met and started to collaborate together.

Lastly, Andrés Martínez, representative of the CDTI, highlighted the funding opportunities offered by his institution to innovative companies such as Ingelia, with which they have collaborated in its launch and growth.

« ‹ of 2 › »

“Connecting you with the World of Finance” Seminar, organized in Madrid with the participation of Pierre Gramegna

The Vice-president of the Chamber, José Luis Rodríguez Álvarez, and the Secretary General, María Catalán, participated in the seminar “Connecting you with the world of finance” organized the 4th June in Madrid by Luxembourg for Finance.

The seminar was attended by Pierre Gramegna, Minister of Finance of Luxembourg, who presented his vision regarding Brexit, the challenges facing Europe and the respective positioning of the Grand Duchy.

Nicolas Mackel, CEO of Luxembourg for Finance,  and representatives from lhoFT, Luxembourg Green Exchange and Fondation de Luxembourg also took part in the seminar. They presented, from different points of view, the opportunities offered by the Luxembourg financial sector.

Thereafter, there were several discussion panels on wealth management, life insurance, alternative investments and private assets, among other topics.

The seminar had a wide audience mainly specialized in the financial sector.

Conference: “The Canary Islands: investment destination”

Last Tuesday 21st May, the Official Spanish Chamber of Commerce in Belgium and Luxembourg organized in collaboration with PROEXCA, a public company whose main objective is the attraction of strategic investments in the Canary Islands, a conference under the topic “The Canary Islands: investment destination”. The event aimed to inform Belgian companies of renewable energy, ICT, BPO, audiovisual sector and animation about investment opportunities in the Islands.

María Catalán, Secretary General of the Chamber delivered welcome remarks and thanked the participation of all the attendees.

Afterwards, Pablo Martín-Carbajal, Chief Executive Officer of PROEXCA, presented the key economic assets of the Islands for foreign investment, highlighting, among others, the most relevant and booming sectors and tax advantages. He also explained several potential investment angles.

Later on, Jerónimo Falcón, Project Manager of the Canarian Society of Economic Development, presented the general panorama of the energy sector in the region, and in particular of renewable energies. He highlighted the unique natural characteristics of the Islands, as well as the differential infrastructures. In addition, he noted that the government offers various aid for productive investments in the sector and sustainable investment activities.

On the other hand, Olga Martín Pascual, Director of the ZEC (Canarian Special Zone) Consortium, announced the economic and fiscal opportunities of the Canary Islands Economic and Fiscal Regime (REF) and other benefits provided by operating in them. He also spoke about tax incentives such as the corporate tax of the Islands, the most advantageous in all of Europe and the particularities of the ZEC.

After the speeches, the participants were able to ask their questions and to have one-on-one meetings with the speakers.

In collaboration with:

Masterclass about Disruption, “Exonomics” & Tech Trends

 

On May 14th, the Official Spanish Chamber of Commerce in Belgium and Luxembourg, organized in collaboration with its member company ESADE Business School, a masterclass on “Disruption:”Exonomics “and technological trends”. The masterclass was given by Xavier Ferrás, Doctor in Economics and Business by the UB, MBA by ESADE and Telecommunications Engineer (UPC) and was attended by various associations, members of the Chamber and representatives of Spanish public institutions.

In the first place, Xavier gave a few words of welcome and thanked the attendees. Later, the main theme of the masterclass was presented: to provide a global view of global disruption trends, the interactions between established companies and new players, as well as the dynamics of teams and the leadership of innovation.

Throughout the talk, different key points were addressed. In the first place, an attempt was made to understand the global trends of disruption, detailing the most relevant and disruptive technologies that influence the technological environment of the economy. The commercial implications of exponential technologies were also pointed out, with special emphasis on how the productive and commercial processes have evolved in companies, generating the need for business transformation and adaptation to the environment.

Ferrás also wanted to expose the dynamics of the innovation teams, which represent engines of transformation for organizations, given that we are in an innovative and digital economy. Likewise, leadership in innovation was taken into consideration, presenting how the way of leading companies towards more innovative and productive ways has evolved.

Another important issue was the foundations of technology management, that is, the whole process of research, development and adaptation of new technologies in the company as a whole, taking into account those technologies used in management functions, as well as in the production of goods and services.

Additionally, there was a review of the current technologies with a faster development and evolution that are of great importance for the industry and its adjacent sectors. We are talking about technologies such as IoT (Internet of Things), Artificial Intelligence or Blockchain Technology, among others.

Finally, the floor was open for questions in which Ferras had the opportunity to provide further information about the subject.

 

 

Presentation LaLiga: ‘Economic-Financial Report of professional football’

On May 9, the Official Spanish Chamber of Commerce in Belgium and Luxembourg organized, in collaboration with LaLiga, a presentation detailing the “Economic-Financial Report of professional football” during the 2017/2018 season. The event was attended by journalists, public bodies and representatives of Belgian and Spanish companies.

In the first place, Andrea Oriol, delegate of LaLiga in Benelux, gave a few words of welcome to the attendees and presented the work of LaLiga and the clubs that compose the competition. Afterwards, the economic-financial results of the last season were described.

LaLiga has reached the highest records of the competition in its history. According to the last Economic-Financial Report of Spanish professional football, corresponding to the last season concluded (2017-2018), LaLiga’s clubs recorded revenues of € 4,479 Mn, representing a growth of 20.6% compared to the season previous.

This is the largest annual positive change achieved in recent years, which is very remarkable as it has been produced after several years in which it has grown steadily at a double-digit rate.

The gross operating profit (EBITDA) of LaLiga amounted to € 945 Mn (+ 20.7%), the operating result (EBIT) stood at € 325 Mn (+ 11.4%) and the net result of the year reached € 189 Mn (+ 6.7%).

The 2017-18 season has been surprising due to the emergence on the scene of two new growth engines of LaLiga: commercial revenues and income from transfers, which have stolen prominence as drivers of annual growth to retransmission revenues.

In the case of commercial revenues (not including the billing from advertising), the annual increase reached 34.1%, until the turnover reached € 838 Mn, which is indicative that Spanish clubs are becoming increasingly attractive media for sponsors.

 

On the other hand, the income derived from the transfer of players (i.e. sale price), the annual increase of 104.3% allowed to double in a single year the billing for this concept, with a record of € 1,018 Mn.

However, the audiovisual billing received by the clubs managed to exceed the level of € 1,500 Mn for the first time and will regain its prominence as of the 2019-20 season, as a consequence of the new audiovisual cycle negotiated by the national market and the signed international agreements.

It is very important to note that these results have been achieved coinciding with an increase in operating expenses (OPEX) and at a time of high investment intensity (CAPEX).

It is equally important to point out that LaLiga 1 | 2 | 3 not only contributes more and more to the revenues of LaLiga as a whole, but also to the results (all the indicators are already in positive terrain and growing sense) and to the generation of cash flow and the value of the activity.

All of the above has led to obtaining a business profitability index (ROIC) that stood at 12.3% (15.1% adjusted) in the 2017-18 season, six tenths higher than the previous season and that, in any case, is substantially above the levels of other reference competitions.

In addition, the LaLiga clubs create a professional football industry that generates an impact on economic activity equivalent to 1.37% of the national GDP and employs directly or indirectly close to 185,000 people (0.98% of the population). average used in Spain in the last year).

After the presentation, a round was given to questions in which the delegate of LaLiga answered all the questions of those who wanted to obtain more information about the exposed subject.

The complete Economic-Financial Report can be consulted here

Breakfast-Conference New companies and associations Code – It’s getting real!

On May 9th , the Official Spanish Chamber of Commerce in Belgium and Luxembourg, in collaboration with its member KOAN Law Firm, organized a breakfast-conference about: “New companies and associations Code- It’s getting real!”. The speakers of the conference were Antoine Druetz (Partner) and Alix Degrez (Associate) from KOAN. The event gathered representatives of different companies and associations, members of the Chamber and representatives of Spanish public bodies.

The conference was focused on the law of March 23, 2019 introducing the New Companies and Associations Code (CAC), which contains various provisions. It is applicable since the 1st May for the newly incorporated associations and foundations, whereas in the case of the existing associations and foundations the deadline to make their Articles of Associations (AoA) compliant with the CAC will be January 1st, 2024. However, as of January 1, 2020, the application of the mandatory rules and, where appropriate, the residual rules of the CAC will begin.

This new Code has a wide importance within the Belgian business landscape, because amongst other things, it is a reform of the Act of 27 June 1921 on non-profit associations, international non-profit associations and foundations.

Both speakers presented the main novelties that have been introduced by the new code, which lead to important changes related to commercial activities, new liability regime, restructuration and transformations and governance rules (articles of association). Both Antoine Druetz and Alix Degrez gave details about the new rules and principles established by this code and that will affect to the Belgian Companies and Associations.

Among the most important modifications that are implemented it is worth noting those that will develop the current doctrinal principles and rules, to fill in the gaps of the law, as well as the global harmonization of companies, non- profit organizations, international non-profit organizations and foundations.

In this way, the attendees had the chance to get in touch deeply with the new provisions of the Code. The importance of the topic raised many questions among the attendees to the breakfast-conference. Druetz and Degrez cleared up all the doubts of the attendees who wanted to obtain more information about the various situations previously exposed in the conference.

Definitely, the event organized with our member KOAN Law Firm helped to understand much better the regulations of this new code, which undoubtedly will play an important role in Belgium these following years.

 

Expats Golf Trophy

Last 24th April the Official Spanish Chamber of Commerce in Belgium and Luxembourg collaborated in the 4th edition of “Expat Golf Trophy”, which was celebrated at the Golf Club d´Hulencourt.

The event had more than forty participants, including ten members of the Chamber as well as representatives of the diplomatic body and international companies and members of other Chambers. The participants, divided in beginner and advanced level, enjoyed a nice evening of golf followed by a networking cocktail and the awards ceremony.

This event was organized in collaboration with:

 

Ten Belgian political representatives present their proposals for the country in the #Yes2Belgium Election Debate

Last April 3 took place the debate about the Belgian elections “#Yes2Belgium Election Debate” at the ING´s Manix Auditorium in Brussels. This debate was supported by 12 foreign chambers of commerce in Belgium and is part of their objective to involve their member companies in the upcoming federal, regional and European elections that will take place on May 26.

The event featured the participation of prominent personalities from 10 different parties that shared their vision and solutions to the problems that foreign companies identify as a priority; mobility, tax system and competitiveness, labour market and governance.

 

Mobility

The main topic for discussion was about the possibility to involve the private sector in the management of the Belgian public transports.

Even though there was not a consensus on this issue, they agreed that climate change, efficiency in transport and deficient infrastructure are still some of the key problems to tackle. The digitalization and the new transport models such as the autonomous cars were presented as new opportunities to these problems.

 

Labour market

The imbalance between the increasing demand of qualified workers and the rise of unemployment among less qualified candidates concentrated an important part of the political proposals that presented the training adapted to the market’s needs as main solution.

The labour costs remain still a key problem for the companies based in the country. Some of the candidates suggested to adapt the labour costs to the productivity and to move towards an adequate balance between labour flexibility and a solid social security system.

 

Tax system

The tax system assumed by the companies its perceived as a disadvantage when it comes to positioning Belgium as an attractive country from a tax perspective.

Different candidates agreed that the answer can not be national but European, to avoid the fiscal dumping among member states. They also presented different measures to attract investment in different sectors such as renewable energy and new technologies.

 

Governance

The participants agreed that the inefficiency as regards to governance is not linked to the system itself but rather on the necessity to improve the collaboration between the different political parties to reach agreements on key national political issues.

Different candidates presented the possibility to refederalize certain competences on key topics that require a national answer to avoid inefficiencies.

 

The different political representatives converged on the importance of the foreign investment in the country and the need to generate an attractive framework to foreign companies. The different subjects discussed were considered as crucial to improve the competitiveness of the country and to continue positioning Belgium as a lead country to attract capital and talent.

The Secretary of State for Trade thanks the Official Spanish Chambers of Commerce Abroad for their work

The Secretary of State for Trade, Xiana Méndez, has offered all the support of the Ministry of Industry, Trade and Tourism to the Official Spanish Chambers of Commerce Abroad. At the closing of the meeting that the CAMACOES have held for two days in Madrid, Xiana Méndez highlighted the work of these Chambers: “You are private institutions, you respond to your members and you design your services to offer them exactly what they need. I would like to thank you for your dedication and work, which is common to the objectives of the Secretary of State for Trade: the defence of Spain’s interests and the improvement of bilateral relations”.

The President of the Spanish Chamber of Commerce, José Luis Bonet, has also taken part, underlining the links between the 41 Official Spanish Chambers of Commerce Abroad and the 85 territorial Chambers of Commerce, and encouraged to continue strengthening this collaboration. “Spain has the opportunity to run a lot and is doing so, and meetings like this one are vital to achieve it. Bonet congratulated the presidents of FECECA, the Federation that groups the Chambers of Commerce in the American continent, Brian Dunning, and Eduardo Barrachina, the new head of FEDECOM, which groups the European, Asian and African Chambers, showing his support to the request of holding the Assemblies of CAMACOES once a year instead of biennially as it has been done until now.

Source: Spanish Chamber of Commerce

Workshop in Spanish taxes for individuals living abroad

Last 6th of March, the Official Spanish Chamber of Commerce in Belgium and Luxembourg organized, in collaboration with its member BLAW & TAX, a conference about the “Spanish Taxes for Individuals Living Abroad” at its headquarters in Brussels. The event gathered representatives of different Spanish and Belgian companies, members of the Chamber, representatives of European Institutions and Spanish regional delegations.

The conference was run by Inmaculada Pineda and Elsa Ochoa, partner and tax advisor of BLAW & TAX, a firm specialized in international taxation and legal-tax consulting at national and international scope related to corporate aspects.

The conference focused on two main issues: fiscal residency and its implications, regarding the taxation and fiscal benefits provided by the Spanish domestic legislation.

First, the different criteria established in the LIRPF for the determination of tax residency in Spain were presented, a fundamental element for determining the tax obligations of natural persons in the country.

Thus, the Spanish regulation incorporates the criteria of residence, location of economic interests and the presumption of tax residency in case the spouse or the children are tax residents in Spain.

Then, the speaker made reference to the situation of tax havens and the rule of “tax quarantine”, according to which taxation continues to pay taxes in Spain during the transfer year and the following four years.

They described two basic circumstances that determine fiscal residence: having had a presence in Spain more than 183 days during the year or that the center of economic or professional interests is in Spain; both circumstances are recidivists.

Afterwards, Elsa detailed the conventions to avoid double taxation signed by Spain. Specifically, the conference focused on the OECD Model Convention. These conventions are of great importance because they have primacy over Spanish internal regulations. Likewise, special cases were discussed about diplomats, officials and personnel at the service of the European Union.