The Spanish government is concerned that its businesses are lagging French and German firms in their preparations for Brexit, with over two-thirds yet to even make a plan.

The U.K. receives the most Spanish foreign investment; is the second largest foreign investor in Spain; and is the source of most of Spain's tourists and foreign real estate buyers. More than 300,000 British nationals live in Spain.

Transport, tourism, agriculture and fishing are key areas of concern. 

British Airways owner, IAG, has enlisted Spanish government support for its argument that BA is a Spanish airline and is therefore entitled to keep operating in the EU after Brexit. IAG also owns Aer Lingus.

Spanish and English firms and investors who have preferred to contract with each other in English and under English law until now should find that the switch to Irish law and courts is a natural and easy alternative.