Chambers Europe 2027 in Spain: what is changing, what remains established, and how to prepare your submission

On 31 March, Camilla Russo, EMEA Research Manager at Chambers and Partners, hosted the official briefing webinar for the 2027 cycle in Spain. At Gericó Associates, we closely follow each edition of this event because what Chambers communicates during these sessions is not merely operational information: it is also an indication of where the research process is heading, which practice areas are gaining relevance, and which structural decisions the directory has made based on what it observed in the market during the previous cycle.

Below is our analysis of the most relevant points for firms preparing their submission strategy for Chambers Europe 2027.

Spain leads Chambers Europe: the numbers behind the 2026 cycle

The results of the 2026 cycle confirm the importance of the Spanish market within the guide. Spain closed the year with 799 departmental rankings, a 17% increase compared with the previous cycle, and 1,688 individual lawyer rankings, representing a 10% increase. In addition, 43 law firms achieved their first ranking in this edition, including both specialist boutiques and full-service firms.

• 799 departmental rankings (+17%)
• 1.688 individual lawyer rankings (+10%)
• +43 firms achieving a first-time ranking in 2026

The most active practice areas during the 2026 cycle were Corporate/M&A Mid-Market with 34 departmental rankings, followed by Banking & Finance with 31 and Energy & Natural Resources with 30. Real Estate and Intellectual Property also showed sustained growth. In terms of broader market trends, researchers identified an M&A market with fewer transactions but higher-value deals, the emergence of data centres as a new investment focus, and the continued expansion of Spanish companies into Portugal and Latin America.

Structural changes affecting 2027 submissions

The 2027 cycle introduces several changes that directly affect the submission strategy of a number of practice areas. Below is an overview of the changes, section by section.

Spain Tax: from a unified table to two sub-tables

This is the most significant change of the cycle. The general Spain Tax table will no longer exist as a unified ranking and will instead be divided into two sub-tables: Tax: Elite, for top-tier firms, and Tax: Highly Regarded, where firms without a previous ranking in this section must submit. The Indirect Tax and Tax: Litigation sub-tables remain unaffected and will continue to require separate submissions.

Key point for Tax firms:

Only one list of referees (maximum 30 clients) may be submitted to cover all Tax sub-sections. Uploading separate referee lists for each sub-table is an error that may affect the validity of the submission.

Spain Banking & Finance: new Borrowers sub-table

Chambers has introduced a new sub-table specifically focused on borrower-side mandates, including corporates, financial sponsors, and public sector entities. It covers acquisition finance, syndicated lending, refinancing transactions, asset-based finance, and sustainability-linked financing.

The main Banking & Finance table remains unchanged and continues to focus on lender-side work. Neither Project Finance nor Restructuring/Insolvency matters should be included within this submission. A single list of 30 referees will cover both Banking & Finance tables and the UK/US Experts sections.

Spain Project Finance: now an independent table

Project Finance becomes a standalone table, entirely separate from Banking & Finance. It focuses on the financing of infrastructure, energy, and industrial projects. Firms must prepare a submission including up to 20 work highlights and a list of 30 referees exclusively for this section.

Transport and FSR: tables becoming more established

Spain Transport was researched for the first time during the 2026 cycle and received strong participation; it will be further refined in the upcoming cycle. Spain Financial Services Regulation (FSR) has operated as an independent table since 2026, and Chambers reiterated that FSR work should not be included in Banking & Finance submissions.

The expansion to 30 referees: an opportunity beyond the numbers

One of the most relevant developments for the 2027 cycle is that all Spanish research sections are increasing their referee limit to 30 clients. Spain therefore joins Italy, the Netherlands, Poland, and Switzerland within this expanded threshold.

Chambers’ recommendation is clear: firms should take advantage of this increase not only in terms of quantity, but also in terms of team diversity, by giving visibility to junior partners and associates. This guidance has a dual purpose. On the one hand, it allows a greater number of professionals within the firm to be assessed individually. On the other, Chambers has placed increasing emphasis over several cycles on the trajectory of younger lawyers as an indicator of a firm’s structural strength.

Rule for referee lists in sections with multiple sub-sections:

Where a section includes multiple sub-tables, only one referee list should be uploaded under the main general table. Separate referee lists should not be submitted for each sub-table.

Operational reminders firms should not overlook

Beyond the structural changes, Chambers reiterated during the webinar a number of criteria that apply to all submissions and which, based on experience, continue to generate avoidable errors.

The limit of 20 work highlights per submission remains unchanged. Chambers recommends presenting the most complex and recent matters first, prioritising quality over quantity. There is no restriction on the ratio between publishable and confidential matters, which provides flexibility for firms acting for clients who do not authorise publication of their transactions.

With regard to Barcelona, lawyers practising across the rest of Spain may still qualify for the general Spain rankings. However, Barcelona-related work should not be included in a nationwide Spain submission where a dedicated Barcelona table exists for that particular practice area.

Finally, Chambers highlighted a particular emphasis on Spain Dispute Resolution: Corporate Crime for the 2027 cycle and invited firms to share suggestions regarding emerging practice areas that may warrant future coverage.

The 2027 Chambers Europe cycle in Spain introduces structural changes in Tax, Banking & Finance, and Project Finance that require firms to review their submission strategy with sufficient lead time. The increase in the referee limit to 30 represents a genuine opportunity, provided it is approached strategically and supported by a client selection that strengthens both team diversity and the significance of the mandates submitted.

At Gericó Associates, we support law firms in preparing their submissions to Chambers and Partners and other international legal directories. If you have questions about adapting your strategy to the changes introduced in the 2027 cycle, feel free to contact us.