CEPSA’s butane and propane gas trading company in the Canary Islands has been operating under the tax regime since 2017
Tenercan Logística S.L. is the trading company for butane/propane gas bottles and bulk of Compañía Española de Petróleos S.A.U. (CEPSA) in the Canary Islands. The company, which has been operating under the low tax regime of the Canary Islands Special Zone (ZEC) since 2017, has consolidated its position in the regional market by increasing its direct and indirect employment figures to sixty workers and investing a total of one million euros.
Why does a company made up of 100% national capital choose the islands to establish itself?
We have been operating as CEPSA’s distributors in Cadiz for twenty-five years. Therefore, our professional activity was a strong reference given our experience and knowledge of the sector. The interrelationship with the management of the company during this period was very proactive, collaborating in different projects and R&D solutions. For this reason, CEPSA counted on us in its commercial expansion strategy towards the Canary Islands market. This is how the company Tenercan Logística S.L. was created.
Has this had any direct or indirect impact on the initial investment and employment predictions?
Yes, we have created more positions than was initially predicted. We are talking about mostly direct jobs, but also indirect, around 60 jobs in total. The company has been provided with material and technological means for the development of logistics operations such as transport, bottles or computer systems, among others. Our investment amounts to more than one million euros.
To what extent did the fact of having a low tax regime applicable to commercial distribution and land transport of goods have an influence?
As a company, our entry into the ZEC was highly valued as the tax regime of this incentive was perfectly suited to our activity. In addition to the set of tax advantages, it was an added attraction to start up a new logistics company in the Canary Islands. One aspect to highlight as a business person is the great professionalism of the team that makes up the ZEC, as they advised us on all the procedures required to establish ourselves in the Canary Islands.
As a company, our entry into the ZEC was highly valued as the tax regime of this incentive was perfectly suited to our activity. In addition to the set of tax advantages, it was an added attraction to start up a new logistics company in the Canary Islands. One aspect to highlight as a business person is the great professionalism of the team that makes up the ZEC, as they advised us on all the procedures required to establish ourselves in the Canary Islands.
Without a doubt. Firstly, we have lightweight packaging with capacity. In addition, one of our strong points is our strategy of promoting competitive prices in order to build customer loyalty. On the other hand, thanks to the gasflow system, an intelligent software solution applied to the gas industry, which introduces improvements in each supply, we have information control on the monitoring of the bottles at all times.
In which islands of the archipelago do you operate now?
At the moment we operate in the main islands of Tenerife and Gran Canaria, and in Lanzarote. However, we plan to also establish ourselves in La Palma in the short term. This will allow us to continue growing in the regional market, which is our objective.