The Canary Islands Special Zone presents its series of tax advantages during a business mission organised by the territorial representation of the Italian Chamber of Commerce and Industry for Spain (acronym CCIS) in Tenerife. This representation was formed by Italian professionals with an interest in commercial and investment opportunities in Tenerife. This mission, which is embedded in the collaboration agreement among the CCIS, the Chamber of Commerce of Tenerife and local institutions is held from 25 to 27 November.
The companies involved, who are following a work agenda, discovered the advantages of the ZEC´s incentive yesterday. Indeed, businesses can thrive from the Canary Islands with a tax rate of 4% on Corporate Tax from a strategic location which makes companies a powerful business connection centre between Africa, Europe and America. Within this framework, commercial and investment opportunities on the island were also revealed. These opportunities are offered by the island under the economic promotion brand Why Tenerife? The ZEC and Chamber of Commerce are also part of this brand, and so are the Island Council of Tenerife, the port authorities of the island and the Free-Trade Zone of Tenerife, so that, all together, the different parts can become one to join forces in the promotion and the investment in markets and preferred sectors for economic development and job creation.
Italy is a key market in the ZEC´s promotion strategy. As a result of this coordinated work from the entity, there are more and more companies that develop business in the Canaries opting for the tax regime offered by this incentive. The data from the end of 2018 show that, in the registry of companies constituted with foreign capital, Italy is the country with most companies registered as with most authorised projects.
El programa de esta misión contempla reuniones con los técnicos de la Cámara de Comercio de España o encuentros B2B con las empresas. También una visita a las infraestructuras portuarias y tecnológicas, además de a las instalaciones estratégicas e innovadoras de la Isla. Entre ellas, el Parque Científico y Tecnológico de Tenerife, el Polígono Industrial Granadilla, las instalaciones del ITER (Instituto Tecnológico y de Energías Renovables), donde se encuentra el NAP (el superordenador Teide HPC) y el proyecto de desarrollo de las nuevas instalaciones de la Autoridad Portuaria de Tenerife.