The Canary Islands are increasingly becoming a hub for companies in sectors like technology, renewable energy, tourism, and digital innovation. With government-backed incentives such as the ZEC and REF, businesses benefit from substantial tax breaks and support for R&D.
The islands’ strategic location between Europe, Africa, and the Americas offers unique logistical advantages, making it an ideal base for international expansion. Whether it’s tech startups, renewable energy firms, or tourism-related businesses, the Canary Islands provide an attractive and competitive environment for future growth.
Success Stories in the Canary Islands
Many companies have found success by expanding to the Canary Islands under the ZEC and REF frameworks. Here are a few examples:
- UK-Based Frozen Fruit Manufacturer: A British company set up a ZEC entity to efficiently distribute its products, benefiting from the 4% corporate tax rate and growing demand for healthy foods.
- Wellness and Spa Business: A high-end wellness company expanded into the islands’ hotel sector, leveraging tax advantages to innovate and grow in the booming tourism industry.
- Innovative Photographer: A tech-savvy photographer scaled his business with ZEC benefits, positioning himself as a leader in his field.
- Tech Startup: A company specializing in AI solutions expanded to the islands to reduce costs and access European markets.
- Renewable Energy Firm: A global leader in renewables relocated operations to take advantage of ZEC tax breaks and the region’s strategic location between Europe and Africa.
- Film Production Hub: International film productions are thriving in the Canary Islands, enjoying up to a 50% tax rebate, contributing to the region’s booming audiovisual sector.
Contact us at LIN to get in touch with EBF Consulting for more details on ZEC benefits and requirements.