Ventajas ZEC

67% of the Canary Islands companies are participated by foreign capital #CanariasZEC promotion

ZEC Promoción

Canary Islands.- Since it was authorized by the European Commission (EC) in 2000, the Canary Islands Special Zone (ZEC) at the end of the previous year, 67% of companies in the ZEC are wholly or partially owned by foreign capital, which that supposes a registry of 439 companies on the accumulated that rises to 656 entities, according to the memory of the entity. The sector with the greatest role in this low tax regime is services, which represents 61%, while industry is 21% and distribution and commercial intermediation accounts for 18%. Regarding the subsectors, the tax sales of the ZEC have made it an attraction for industrial or service entities linked to information and communication technologies (ICT), which already reaches 22% of all companies. The ZEC is one of the figures of the Economic and Fiscal Regime (REF) of the Canary Islands, whose objective is to contribute to regional economic …