Canary Islands.- The Canary Islands has, among its many attractions as a territory within the framework of the European Union (EU), one of the most attractive regimes to start businesses with prospects for growth and international operations: the Canary Islands Special Zone (ZEC).
This incentive, whose objective is to attract foreign capital in economic sectors to advance the strategy of diversifying the Islands’ economy, allows the creation of companies under unbeatable conditions derived from the application of a special 4% on Corporation Tax Rate and other advantages that promote competitiveness and business growth. The constant flow of international investors from almost fifty countries has led more than 650 companies to bet on starting their business operations on the Islands.
The constant flow of international investors from almost fifty countries has led more than 650 companies to bet on starting their business operations on the Islands.
These companies in turn provide an investment volume of more than one million euros and create more than 9,700 jobs in business activities with a high degree of R&D, technology and innovation in subsectors and areas such as: information technology and Communication (ICT), activities related to tourism, wholesale and commercial intermediation, business services, transport and related activities, renewable energy, audiovisual or blue economy and knowledge, among others.
In the current current economic context, the ZEC as an anti-cyclical tool continues to introduce new business projects that will contribute to the diversification of the regional economy. In addition, the chapter referring to the expansion of activities by already operating companies that have reoriented, expanded or adapted their business model to new market needs stands out.