Aspirations of operating a successful business in the Canary Islands are easier to achieve than you may realise. It may appear a daunting prospect, due to your lack of knowledge and understanding of the procedures, laws and regulations in Spain. Tenerife offers the right ingredients for a successful business; however, it is important to receive the correct professional advice from the outset of your venture. The investment department of our company will offer you profitable projects for investments in different areas, make a business plan, and help to do the first steps to start your business.
There are a lot of advantages to organise your business in the archipelago. First of all, the Canary Islands are an excellent commercial, logistical and technological transference platform between continents as they are linked to the main international commercial routes. This allows investors to run strategic projects in West Africa and Latin America from the Canary Islands with the proper legal security of a company based in Europe.
Moreover, the Canary Islands offer the most attractive tax incentives of the European framework. For the companies created in accordance with ZEC rules there are significant tax benefits. ZEC, a tax instrument validated by Community Authorities that, with its tax exemptions, offers the added value of being compatible with other REF incentives and further governmental aids and grants. Following the announcement of an extension in December 2006, the benefits provided by ZEC will initially be available until December 31, 2019, although this may be further extended if the European Commission authorises it. In general, all companies which run their business in the Canary Islands receive tax exemptions: they pay 7% tax rate meanwhile in other parts of Spain it exceeds 21%. If you need more information about tax law in the Canaries ask our experts and we will resolve your doubts!
The cost of the creation of the company is €1,500 for non-residents with a minimum authorised capital of €3.000. Any person can be a founder of a company. If you decide to open your business in the Canary Islands, we will help you to obtain a resident card (residence permit) with the work permission.
Book a free consultation in the Fides Factum