The Canary Islands. – Fourteen new business projects which are committed to creating 189.5 jobs and investing 7.3 million euros in the Canary Islands have been authorised by the governing board of the Canary Islands Special Zone (ZEC) during its last session in March, a meeting which was held via the Internet. It should be noted that this time 93% of these authorisations have been given for activities related to the service sector in the Islands, a sector that plays a greater role within the framework of this low tax regime.
Within the service sector, the activities related to the audio-visual and IT industry are the main subsectors. In addition to these, service centres and consultancy firms, tourism support activities and activities connected with maritime transport, R+D+I and other services have also been given the green light.
As a whole, business initiatives in the service sector account for 72.6% of the total volume of investment, which represents a total of 5.3 million euros, and 89.4% of the jobs committed. In this last session, authorization was also given to carry out an industrial project that will represent an investment of 27% of the total volume, that is: 2 million euros. In addition, this project will also create 20 jobs, which accounts for 10.5% of the jobs committed as a whole. With regard to the type of capital, foreign and mixed capital together account for 69.6% of the total investment and 51.2% of the jobs committed.