Madrid, Seat for International Arbitration
Economic Advantages
One of the advantages that Spain maintains over other European countries is the cost of services, which is generally significantly lower than average costs in the continent.
“Costs of services are significantly lower than those of the other principal Arbitration seats, such as Geneva, London, New York or Paris.”
This advantage extends to the costs of arbitration itself, given that arbitrators’ fees and court rates as well as the costs of other related services (lawyers, translators, interpreters, etc) are equally lower than those of the other principal European arbitration seats (London, Paris, Geneva).
The difference in costs is even greater in procedures in which one of the parties involved is Spanish-speaking, as it eliminates the need for legal interpreters and translators.