Why the Canary Islands?

INTRODUCTION

Their superb geographical location as the southern gateway to the European Union and a bridge between the three continents of America, Africa and Europe makes the Canary Islands a wonderful commercial and business platform. Historically and culturally they are closely linked to Latin America and have important institutional and business ties with West Africa. They provide an excellent platform for trade, logistics and transfer of services and technology between continents, as they form an integral part of the main international trade routes. 

This enables an investor to tackle strategic projects in West Africa and Latin America from the Canary Islands, with the legal certainty that comes with having a business base in Europe.

Thanks to this privileged position, the Canary Islands have an well-established and constantly-developing technological business sector, which not only works and provides services for the local or regional market, but also internationally, with a highly competitive offering in technological and market terms.

FULL ASSURANCE OF LEGAL CERTAINTY

As an integral part of the legal system of the European Union, the Canary Islands offer full assurance of security and protection for individuals and businesses.

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FULL APPLICATION OF EUROPEAN LAW

  • Data protection
  • Free competition
  • Financial regulation

FAMILIARITY WITH ALL INTERNATIONAL ANTI-CORRUPTION MEASURES

FCPA Due Diligence’s Compilance de EEUU

THE CANARY ISLANDS OFFER A WELL-QUALIFIED WORKFORCE AND KNOW-HOW

The Canary Islands have not only built up solid reserves of know-how in key sectors; they also have human resources with great potential to meet the needs of the companies operating here.

The population is younger than the national average, highly qualified and with more competitive labour costs than in the rest of Spain or Europe.

The Canary Islands have two public universities, located on the two major islands: the University of La Laguna, in Tenerife, and the University of Las Palmas de Gran Canaria. More than half of their students study scientific and technical subjects.

qualified staff - IT islands

TELECOMMUNICATIONS INFRASTRUCTURE IN THE CANARY ISLANDS

The Canary Islands are the perfect setting to establish and develop any activity related to the information and communication technology sector, with their extensive satellite coverage and interconnection by undersea fibre optic cable, as well as the existing mobile and fixed telephone networks, offering high-speed Internet connections via broadband systems which guarantee great security and quality standards.

Undersea cables - IT islands
solid know how - IT islands
cost per worker - IT islands

THE BEST TAX REGIME IN THE EU WITH 4% CORPORATE INCOME TAX

As the outermost region in the EU the Canary Islands have their own Economic and Fiscal Regime (REF), fully approved by the EU, with double taxation conventions and fiscal transparency.

This enables us to be highly competitive in our sector.

corporate tax rate - IT islands

% EU CORPORATE INCOME TAX RATES

Source: KPMG (2016)

The canary islands ZEC - IT islands
Economic and fiscal Regime - IT islands