The Canary Islands have great qualities that make Tenerife attractive to live in, beaches, fantastic weather with 22ºC annually, gastronomy, entertainment, and beautiful views. Additionally have advanced infrastructures, following the eurozone. The Healthcare system and education at the same quality level as the European Union, with a great number of healthcare centers, hospitals, schools, and training centers. An excellent social environment and a great range of cultural options.
As we can see, the strategic position of the islands, 90 km apart from Africa, and under the eurozone conditions, make the Canary Islands a well-connected place with Africa and Europe, with daily flights to United Kingdoms, Germany, Africa, and Spain. And have connections with all the regional harbors, and are established in the main maritime routes with 26 commercial harbors.
The Canary Islands are considered an ultra-periphery region for the EU and count with its own Economic and Fiscal Regime (REF) and the islands have taxes advantage for the entities which want to carry out business. Additionally, the Canary Islands Special Zone (ZEC) has been created to promote economical and social development in the islands and to diversify the productive structure. The ZEC regulations have tax advantage:
- A reduced rate of 4% in the Corporate Income Tax, the lowest of the EU.
- Income Tax Nonresident (IRNR) exemption.
- Property Transfer Tax and Stamp Duty (ITP-AJD) exemptions.
- Canary Islands General Indirect Tax (IGIC) exemptions.
- Compatibility with other REF tax incentives.
Another advantage that makes the Canary Islands a place to consider, are:
- A judicial system established under the legal framework of the EU, that offers safety and protection to people and entities.
- Low cost in oil and office rent.
- Intercontinental optical fiber conexion.
- Tax advantage in audiovisual production and R&D.