Canary Islands. – The president of the Canary Islands Special Zone (ZEC), Antonio Olivera, introduced the tax benefits of operating in the Canary Islands to all the representatives of British companies who attended the seminar held in London with the title “The Canary Islands: Special Zone Investment”. The event took place in the Leonardo Royal Hotel and was attended by Jean-Paul Nguegang, CEO of Global Management PCC Limited, among others.
Olivera explained to those who attended the seminar how to operate under this system and its different requirements. He also highlighted that the ZEC has established itself as an important economic policy tool that can attract investment to the islands in order to move towards the diversification of the regional productive fabric. In addition to this, ZEC’s advantageous geostrategic location between three continents is perfect to establish an operational base in the islands; in this case in order to operate with international markets, with Western Africa in particular.
Similarly, he stressed that the reduced tax rate of 4% on corporate tax, the fact that no taxes are withheld on dividends, the legal certainty and the geostrategic position of the Canary Islands project the islands as a business hub for many sectors, such as: audio-visuals, renewable energies, technologies, repair and maintenance of ships and boats, etc. This activity is part of this year’s promotional agenda in order to internationally promote this incentive in one of its key markets. At the same time this event was taking place, a business agenda was organised to hold B2B meetings with companies from different sectors interested in learning more about this low taxation tax system.
Finally, it is worth noting that this event was attended by Rosa María Movellán, Counsellor of Agriculture, Fisheries and Food of the Spanish Embassy in London.