Do you know the requirements you need to meet in order to establish a company within the CanariasZEC?


The Canary Islands.- If you are planning to set up your company in the Canary Islands, you should know that the islands have a tax system that is unique in Europe: the Canary Islands Special Zone (ZEC), a tax incentive authorised by the European Union (EU), whose main benefit is that companies pay only 4% on corporate tax. That is only one among many other advantages that make the Canary Islands a business platform with access to all markets of interest. In order to operate within the framework of this regime, companies must comply with a number of requirements:

At least one of the administrators must be a resident in the Canary Islands.

A minimum investment of €100,000 (for the islands of Tenerife and Gran Canaria) or €50,000 (in the case of La Gomera, El Hierro, La Palma, Fuerteventura or Lanzarote) must be made in fixed assets related to the business activity within the first 2 years following registration.

At least 5 or 3 jobs, depending on whether the location is one of the capital islands or an outlying island, in the first 6 months following registration, and this average must be maintained during the time the entity remains within the ZEC

Its corporate purpose must be within the activities permitted within the framework of the ZEC.