- country
- Spain
- incentives
- Reduced corporate tax rate of 4% (vs standard 25% in mainland Spain) for companies with real operations, job creation and substance in the Canary Islands. Exemption from IGIC (Canary Islands General Indirect Tax) on imports and on transactions between ZEC companies. Access to the Canary Islands Investment Reserve (RIC) allowing a deduction of up to 90% of the corporate tax base on locally reinvested profits. Eligible sectors include ICT/technology, biotech, renewable energy, audiovisual/film production, logistics and business services. Standard requirements: minimum investment of EUR 100,000 in Gran Canaria/Tenerife or EUR 50,000 on other islands within the first two years, and creation of at least 5 jobs (capital islands) or 3 jobs (other islands); investment requirement can be waived for innovative companies, HR-intensive companies, or those in priority sectors (technology, video games, audiovisual). Authorized by the European Commission.
- zone type
- free_zone