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Zec company canary islands

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Sale (7,374)Rent to Own (675)New Construction (927)
254,000
* €/m2
Spain: Related Information
175 m2 | 9 bedrooms | 8 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
ZEC - La Zona Especial Canaria (Canary Islands Special Zone) - Europe's best kept business secret is great for startups and companies. q What requirements does a ZEC Company have to meet? The Canary Islands Special Zone has been created within the Fiscal and Economic Regime of the. The Canary Islands Special Zone (ZEC) The ZEC is a low Corporate Tax Incentive allowing Companies in Tenerife to pay 4% Tax on Profits.

Thus providing investors, business owners and entrepreneurs with highly qualified, multicultural and intelligent talent. As aforementioned the ZEC is connected to the major trade routes by air and by sea. Due to the exceptional connectivity and technological superiority of this zone, the ZEC has the perfect requirements to become a potential Air Hub for organizations that have operations between Europe, Africa and America.

As the Canary Islands are an EU outermost region, they have their own economic and fiscal system, which is approved by the European Union, applying double taxation conventions and fiscal transparency.

Tax Credits are also offered for investments in sectors deemed the most strategic and profitable compared to the rest of Spain. Certain areas also carry unique economic advantages for exporting, importing and the inward processing of tangible goods.

The ZEC has all of the services, infrastructures and advantages of being within Europe while enjoying a unique geostrategic location to extend operations effortlessly into Africa. The Canary Islands have accumulated an impressive knowledge base over a wide range industries due to the highly talented workers who are either from the ZEC zone or have been attracted to it over the last 20 years.

The ZEC have a surplus of high quality talent and have great potential to meet and exceed the needs of companies looking to set themselves up within the ZEC zone. The quality of life within the Islands is comparable with the best areas in Europe. More and more companies are concerned about what they offering their employees, and strive to keep them for a long time, with factors like work-life balance, cost of accommodation or commute time, it can be hard to keep your workers satisfied.

The ZEC is often said to have the best climate in the world and having spring temperatures throughout the cooler months and a summer that attracts millions of tourists a year!

Within the ZEC there are protected natural areas, 4 biosphere reserves, 25 golf courses, and around miles km of beaches! It is not just the geographical factors that aid in high job satisfaction but also the people too, everyone who visits, inhabits or works in the ZEC can shortly adapt to the tranquil days, the exciting fiestas and the positivity that brings people back to the islands year after year.

The ZEC is renown for their gastronomy and the locality, freshness and quality of their ingredients and produce. To set a company up as a ZEC entity requires a little bit of administrative work, however the paperwork and one time admin fee around euros pay for themselves tenfold once the ZEC entity is set up. The ZEC was created to encourage, attract and grow businesses in the Canary Islands not to make barriers to entry.

The local government and authorities are always very supportive towards applicants looking to become a ZEC company. As mentioned above the ZEC covers all of the Canary Islands the only conditions are the following: Companies planning to provide services are free to set up anywhere they see fit on the islands. Low Operational Costs. High Quality Workforce. Connected to the World. ZEC Tax Advantages. Europe in Africa. At least one member of the administration must reside in the Canary Islands. It must make a minimum investment of , euros in Gran Canaria or Tenerife or 50, euros in the case of La Gomera, El Hierro, La Palma, Fuerteventura or Lanzarote in fixed assets related to the activity within the first two years following its registration.

It is necessary to create, at least, fi ve jobs in Gran Canaria or Tenerife or three in the other islands during the first six months following its registration and this average must be maintained during the time that the benefits are enjoyed. It is necessary to conduct activities that are permitted in the ZEC.

If you continue using this site we will assume that you agree. The Canary Islands are an integral part of Spain; this has been so for more than years, and a huge majority of Canarians have confirmed their status repeatedly over time. The language of the Canaries is Spanish Castilian , but the accent is more like the Spanish spoken in the Caribbean. The Canarian fiscal and economic system is different from the general Spanish one, which is in force in the major part of the Mainland.

As a part of Spain, the Canaries are also part of the European Union. However, the islands enjoy some exceptions in the fiscal and economic area. The Supreme Court of Justice exercises the judicial power. Although mainland tax regulations apply in the Canaries, companies operating there are also eligible for special tax incentives the Special Tax Regime or REF.

Key features of the REF are as follows:. The Canary Islands Special Zone has been created within the fiscal and economic regime of the Canary Islands for the purpose of encouraging the economic and social development of the islands and the diversification of their manufacturing and service sectors.

718,000
* €/m2
240 m2 | 7 bedrooms | 2 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
q What requirements does a ZEC Company have to meet? The Canary Islands Special Zone has been created within the Fiscal and Economic Regime of the. The Canary Islands Special Zone (ZEC) The ZEC is a low Corporate Tax Incentive allowing Companies in Tenerife to pay 4% Tax on Profits. How Easy is it to Become a ZEC Company? The ZEC covers all the Canary Islands, the stunning chain of Spanish archipelago off the coast.

A key element between an SEZs and a tax havens is financial secrecy, i. ZEC is a tax incentive and nothing more. Companies in the Canary Islands have to adhere to normal statutory report in Spain.

If anything, these companies are under even more scrutiny to ensure that they comply with the agreed rules of the Canary government as well as the Spanish government, and most importantly the European Union. All of this ensures that companies do not cheat the system and that financial and tax fraud do not become a reality. The benefits of taking your operations to the Canary Islands are tangible. No matter if you are a large corporation or an SME, operating in the ZEC can provide you a much-needed vantage point in this ever-so-competitive industry.

If you are not sure about how to proceed or want to learn more, drop us an email or give us a call and our experts can guide you through the process. Why choose the Canary Islands. Financial Incentives.

Contact Us. Let us dive into the details of the benefits of taking all or part of your operations to the Canary Islands: 1. How to Qualify for ZEC? The climate of the Canaries, however, is tempered by the surrounding ocean. The Canary Islands are an integral part of Spain; this has been so for more than years, and a huge majority of Canarians have confirmed their status repeatedly over time. The language of the Canaries is Spanish Castilian , but the accent is more like the Spanish spoken in the Caribbean.

The Canarian fiscal and economic system is different from the general Spanish one, which is in force in the major part of the Mainland. As a part of Spain, the Canaries are also part of the European Union. However, the islands enjoy some exceptions in the fiscal and economic area. The Supreme Court of Justice exercises the judicial power. Although mainland tax regulations apply in the Canaries, companies operating there are also eligible for special tax incentives the Special Tax Regime or REF.

Key features of the REF are as follows:. The Canary Islands Special Zone has been created within the fiscal and economic regime of the Canary Islands for the purpose of encouraging the economic and social development of the islands and the diversification of their manufacturing and service sectors. In early , the Department of Economic Affairs and Finance of the Canary Islands Government suggested the introduction of improvements to the Canary Islands Economic and Fiscal Regime, including the extension of the time frame of the low tax zone beyond of 25 years for companies in the service sector and 50 years for companies operating in the industrial sector.

In addition, a suggestion has been made for solving the problems related to double taxation on profits. This modification aims to make the ZEC a real stimulus for attracting companies with newly-created economic activity. At present, companies with their head office in mainland Spain are subject to double taxation on profits, which makes it difficult for them to set up in the low tax zone.

354,000
* €/m2
1) What is the ZEC?
166 m2 | 6 bedrooms | 6 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
ZEC companies are exempt from Canarian Indirect General Tax (Canarian Sales Tax) on delivery of goods and provision of services from one ZEC Company to. The Canary Islands offers precisely that but with the legal security offered by Spanish and European regulations. With ZEC there are no more. The Canary Islands Special Zone (ZEC) The ZEC is a low Corporate Tax Incentive allowing Companies in Tenerife to pay 4% Tax on Profits.

A key element between an SEZs and a tax havens is financial secrecy, i. ZEC is a tax incentive and nothing more. Companies in the Canary Islands have to adhere to normal statutory report in Spain. If anything, these companies are under even more scrutiny to ensure that they comply with the agreed rules of the Canary government as well as the Spanish government, and most importantly the European Union.

All of this ensures that companies do not cheat the system and that financial and tax fraud do not become a reality. The benefits of taking your operations to the Canary Islands are tangible. No matter if you are a large corporation or an SME, operating in the ZEC can provide you a much-needed vantage point in this ever-so-competitive industry.

If you are not sure about how to proceed or want to learn more, drop us an email or give us a call and our experts can guide you through the process. Why choose the Canary Islands. Financial Incentives. Contact Us. Let us dive into the details of the benefits of taking all or part of your operations to the Canary Islands: 1.

How to Qualify for ZEC? Service companies may be set up in any part of the territory of the Canary Islands. Production, processing, handling and distributive activities must be located in certain Designated Areas at:. There are Designated Areas on each of the other Canary Islands. Any Company wishing to set up in the ZEC must satisfy a number of requirements, of which the most important are:. These rates vary according to:. Indirect taxes on legal operations and capital acquisitions made by companies.

ZEC Companies are exempted from the payment of this tax for the following operations:. ZEC Companies are not obliged to deduct tax from payments for tangible assets made by them.

256,000
* €/m2
165 m2 | 1 bedrooms | 9 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
q What requirements does a ZEC Company have to meet? The Canary Islands Special Zone has been created within the Fiscal and Economic Regime of the. The ZEC is a low-taxation zone focused on the Canary Islands ZEC companies pay Spanish Corporate Income Tax at 4% (the EU average. ZEC companies are exempt from Canarian Indirect General Tax (Canarian Sales Tax) on delivery of goods and provision of services from one ZEC Company to.

In early , the Department of Economic Affairs and Finance of the Canary Islands Government suggested the introduction of improvements to the Canary Islands Economic and Fiscal Regime, including the extension of the time frame of the low tax zone beyond of 25 years for companies in the service sector and 50 years for companies operating in the industrial sector.

In addition, a suggestion has been made for solving the problems related to double taxation on profits. This modification aims to make the ZEC a real stimulus for attracting companies with newly-created economic activity.

At present, companies with their head office in mainland Spain are subject to double taxation on profits, which makes it difficult for them to set up in the low tax zone. Following the announcement of an extension in December , the benefits provided by the ZEC will initially be available until December 31, , although this may be further extended if the European Commission authorises it.

Any company intending to carry out manufacturing, commercial or service activities within the territory of the Canary Islands may register in the ZEC; financial services are excluded.

Production, processing, handling and distributive activities must be located in certain Designated Areas at:. Any Company wishing to set up in the ZEC must satisfy a number of requirements, of which the most important are:. Application, authorisation and registration are the three steps required of companies wishing to set up within the ZEC. Corporate operations done by the ZEC entities, except their dissolution. Documented legal acts related to transactions of these entities in the geographical area of the ZEC.

Compatibility with other REF tax incentives According to the limit of the Community Law on accumulation of fi nancial support and under certain conditions, ZEC tax advantages are compatible with other REF tax incentives like the Reserve for Investment, the regime of deductions for investments and the tax-free areas. It must be a newly-created entity or branch with its registered address and effective place of management within the geographical area of the ZEC.

At least one member of the administration must reside in the Canary Islands. ZEC firms can also take advantage of the 85 double taxation treaties between the EU and other nations. Following are the requirements that you need to ensure to qualify for ZEC:. You must be an entity or branch of an entity with your registered location and address being within the geographical boundaries of the ZEC.

You are required to generate, at least five openings in Tenerife or Gran Canaria or three opportunities within the first six months of registration. A key element between an SEZs and a tax havens is financial secrecy, i. ZEC is a tax incentive and nothing more. Companies in the Canary Islands have to adhere to normal statutory report in Spain.

If anything, these companies are under even more scrutiny to ensure that they comply with the agreed rules of the Canary government as well as the Spanish government, and most importantly the European Union.

549,000
* €/m2
111 m2 | 9 bedrooms | 1 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
The Canary Islands offers precisely that but with the legal security offered by Spanish and European regulations. With ZEC there are no more. ZEC companies are exempt from Canarian Indirect General Tax (Canarian Sales Tax) on delivery of goods and provision of services from one ZEC Company to. The ZEC is a low-taxation zone focused on the Canary Islands ZEC companies pay Spanish Corporate Income Tax at 4% (the EU average.

Compatibility with other REF tax incentives According to the limit of the Community Law on accumulation of fi nancial support and under certain conditions, ZEC tax advantages are compatible with other REF tax incentives like the Reserve for Investment, the regime of deductions for investments and the tax-free areas.

It must be a newly-created entity or branch with its registered address and effective place of management within the geographical area of the ZEC. At least one member of the administration must reside in the Canary Islands. It must make a minimum investment of , euros in Gran Canaria or Tenerife or 50, euros in the case of La Gomera, El Hierro, La Palma, Fuerteventura or Lanzarote in fixed assets related to the activity within the first two years following its registration.

It is necessary to create, at least, fi ve jobs in Gran Canaria or Tenerife or three in the other islands during the first six months following its registration and this average must be maintained during the time that the benefits are enjoyed.

It is necessary to conduct activities that are permitted in the ZEC. If you continue using this site we will assume that you agree. Accept Privacy Policy. As a part of Spain, the Canaries are also part of the European Union. However, the islands enjoy some exceptions in the fiscal and economic area. The Supreme Court of Justice exercises the judicial power. Although mainland tax regulations apply in the Canaries, companies operating there are also eligible for special tax incentives the Special Tax Regime or REF.

Key features of the REF are as follows:. The Canary Islands Special Zone has been created within the fiscal and economic regime of the Canary Islands for the purpose of encouraging the economic and social development of the islands and the diversification of their manufacturing and service sectors. In early , the Department of Economic Affairs and Finance of the Canary Islands Government suggested the introduction of improvements to the Canary Islands Economic and Fiscal Regime, including the extension of the time frame of the low tax zone beyond of 25 years for companies in the service sector and 50 years for companies operating in the industrial sector.

In addition, a suggestion has been made for solving the problems related to double taxation on profits. This modification aims to make the ZEC a real stimulus for attracting companies with newly-created economic activity. At present, companies with their head office in mainland Spain are subject to double taxation on profits, which makes it difficult for them to set up in the low tax zone. Following the announcement of an extension in December , the benefits provided by the ZEC will initially be available until December 31, , although this may be further extended if the European Commission authorises it.

Any company intending to carry out manufacturing, commercial or service activities within the territory of the Canary Islands may register in the ZEC; financial services are excluded. Production, processing, handling and distributive activities must be located in certain Designated Areas at:.

Any Company wishing to set up in the ZEC must satisfy a number of requirements, of which the most important are:.

455,000
* €/m2
281 m2 | 3 bedrooms | 4 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
The ZEC is a low-taxation zone focused on the Canary Islands ZEC companies pay Spanish Corporate Income Tax at 4% (the EU average. q What requirements does a ZEC Company have to meet? The Canary Islands Special Zone has been created within the Fiscal and Economic Regime of the. The Canary Islands offers precisely that but with the legal security offered by Spanish and European regulations. With ZEC there are no more.

Description of the economic activities to be undertaken. Accreditation of the feasibility of the project: profit and loss account, three-year balance sheet forecast and financing table.

Accreditation of the economic solvency and technical soundness of the project. Accreditation of the ability to compete at an international level in the case of companies planning to carry out economic activities in international markets. Accreditation of the contribution to the economic and social development of the Canary Islands. ZEC companies may not offer services of a financial nature. Service companies may be set up in any part of the territory of the Canary Islands.

Production, processing, handling and distributive activities must be located in certain Designated Areas at:. There are Designated Areas on each of the other Canary Islands. Any Company wishing to set up in the ZEC must satisfy a number of requirements, of which the most important are:. Despite their geographical location near the Sahara, temperatures are reduced by the sea and the trade wind which allows people to enjoy temperatures between 18 and 25 degrees almost all year round.

These pleasant temperatures are the reason why the Canary Islands are called the islands of eternal spring. However, it is not only good weather that attracts tourists and new residents to the islands. The low cost of living for both individuals and companies plays a fundamental role in attracting investment to the Canary Islands. Investors will find the Canary Islands to be a modern region with good infrastructure.

The Islands have a lot of human capital with know-how in the tourism sector, renewable energy, logistics and port goods, agriculture and livestock, environment, and of course, the IT sector.

Working with a laptop on the beach under a palm tree has become a goal for many.

997,000
* €/m2
La Zona Especial Canarias – ZEC
229 m2 | 3 bedrooms | 4 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
The Canary Islands offers precisely that but with the legal security offered by Spanish and European regulations. With ZEC there are no more. Are the Canary Islands a tax heaven? A comprehensive guide to the best tax incentives available in the European Union. 4% corporate tax, an. ZEC companies are exempt from Canarian Indirect General Tax (Canarian Sales Tax) on delivery of goods and provision of services from one ZEC Company to.

The Canary Islands are considered to be at a logistical disadvantage being in Europe's Outermost Regions, therefore, so long as they remain part of Spain The Canary Islands will always enjoy additional fiscal advantages. ZEC Project Registration. To qualify for a ZEC license Capital Investment Canaries creates a business project on behalf of its client incorporating information such as;.

Description of the economic activities to be undertaken. Accreditation of the feasibility of the project: profit and loss account, three-year balance sheet forecast and financing table. Accreditation of the economic solvency and technical soundness of the project. Accreditation of the ability to compete at an international level in the case of companies planning to carry out economic activities in international markets.

Accreditation of the contribution to the economic and social development of the Canary Islands. Companies in the Canary Islands have to adhere to normal statutory report in Spain. If anything, these companies are under even more scrutiny to ensure that they comply with the agreed rules of the Canary government as well as the Spanish government, and most importantly the European Union.

All of this ensures that companies do not cheat the system and that financial and tax fraud do not become a reality. The benefits of taking your operations to the Canary Islands are tangible. No matter if you are a large corporation or an SME, operating in the ZEC can provide you a much-needed vantage point in this ever-so-competitive industry.

If you are not sure about how to proceed or want to learn more, drop us an email or give us a call and our experts can guide you through the process. Why choose the Canary Islands. Financial Incentives. Contact Us. Let us dive into the details of the benefits of taking all or part of your operations to the Canary Islands: 1. How to Qualify for ZEC? Following are the requirements that you need to ensure to qualify for ZEC: You must be an entity or branch of an entity with your registered location and address being within the geographical boundaries of the ZEC.

You can only carry out businesses that the ZEC permits.

386,000
* €/m2
216 m2 | 7 bedrooms | 10 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
The ZEC is a low-taxation zone focused on the Canary Islands ZEC companies pay Spanish Corporate Income Tax at 4% (the EU average. ZEC companies are exempt from Canarian Indirect General Tax (Canarian Sales Tax) on delivery of goods and provision of services from one ZEC Company to. The Canary Islands offers precisely that but with the legal security offered by Spanish and European regulations. With ZEC there are no more.

In early , the Department of Economic Affairs and Finance of the Canary Islands Government suggested the introduction of improvements to the Canary Islands Economic and Fiscal Regime, including the extension of the time frame of the low tax zone beyond of 25 years for companies in the service sector and 50 years for companies operating in the industrial sector. In addition, a suggestion has been made for solving the problems related to double taxation on profits.

This modification aims to make the ZEC a real stimulus for attracting companies with newly-created economic activity.

At present, companies with their head office in mainland Spain are subject to double taxation on profits, which makes it difficult for them to set up in the low tax zone. Following the announcement of an extension in December , the benefits provided by the ZEC will initially be available until December 31, , although this may be further extended if the European Commission authorises it.

Any company intending to carry out manufacturing, commercial or service activities within the territory of the Canary Islands may register in the ZEC; financial services are excluded. Production, processing, handling and distributive activities must be located in certain Designated Areas at:.

Any Company wishing to set up in the ZEC must satisfy a number of requirements, of which the most important are:. Application, authorisation and registration are the three steps required of companies wishing to set up within the ZEC. According to the limit of the Community Law on accumulation of fi nancial support and under certain conditions, ZEC tax advantages are compatible with other REF tax incentives like the Reserve for Investment, the regime of deductions for investments and the tax-free areas.

Income Tax Nonresident IRNR exemption Dividends paid by ZEC subsidiaries to parent companies resident in another country as well as the interest and other income from transfers to third parties of capital and capital gains from property, obtained without a permanent establishment are exempt from withholding.

The exemption described below shall also apply to incomes from the residents of any state where such incomes are paid by a ZEC company and come from operations materially and eff ectively carried out within the geographical area of the ZEC. Corporate operations done by the ZEC entities, except their dissolution. Documented legal acts related to transactions of these entities in the geographical area of the ZEC. ZEC companies may not offer services of a financial nature.

Service companies may be set up in any part of the territory of the Canary Islands. Production, processing, handling and distributive activities must be located in certain Designated Areas at:. There are Designated Areas on each of the other Canary Islands. Any Company wishing to set up in the ZEC must satisfy a number of requirements, of which the most important are:.

736,000
* €/m2
The ZEC Tax Incentive
112 m2 | 7 bedrooms | 5 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
The Canary Islands offers precisely that but with the legal security offered by Spanish and European regulations. With ZEC there are no more. The ZEC is a low-taxation zone focused on the Canary Islands ZEC companies pay Spanish Corporate Income Tax at 4% (the EU average. ZEC companies are exempt from Canarian Indirect General Tax (Canarian Sales Tax) on delivery of goods and provision of services from one ZEC Company to.

According to the limit of the Community Law on accumulation of fi nancial support and under certain conditions, ZEC tax advantages are compatible with other REF tax incentives like the Reserve for Investment, the regime of deductions for investments and the tax-free areas. Income Tax Nonresident IRNR exemption Dividends paid by ZEC subsidiaries to parent companies resident in another country as well as the interest and other income from transfers to third parties of capital and capital gains from property, obtained without a permanent establishment are exempt from withholding.

The exemption described below shall also apply to incomes from the residents of any state where such incomes are paid by a ZEC company and come from operations materially and eff ectively carried out within the geographical area of the ZEC.

Corporate operations done by the ZEC entities, except their dissolution. Documented legal acts related to transactions of these entities in the geographical area of the ZEC. Investors will find the Canary Islands to be a modern region with good infrastructure. The Islands have a lot of human capital with know-how in the tourism sector, renewable energy, logistics and port goods, agriculture and livestock, environment, and of course, the IT sector.

Working with a laptop on the beach under a palm tree has become a goal for many. The Canary Islands offers precisely that but with the legal security offered by Spanish and European regulations.

In addition, the dividends distributed by the ZEC entities to their parent companies residing in another country will be exempt from withholding the Non-resident Income Tax.

Tax on Property Transfers and Documented Legal Acts are also exempt from taxation which includes the acquisition of assets destined to the development of the activity of the ZEC entity, the corporate operations of the ZEC entity and the documented legal acts related to the operations of the ZEC entity. This will apply as long as these actions are carried out in the geographical scope of the ZEC.

A key element between an SEZs and a tax havens is financial secrecy, i. ZEC is a tax incentive and nothing more. Companies in the Canary Islands have to adhere to normal statutory report in Spain. If anything, these companies are under even more scrutiny to ensure that they comply with the agreed rules of the Canary government as well as the Spanish government, and most importantly the European Union.

All of this ensures that companies do not cheat the system and that financial and tax fraud do not become a reality. The benefits of taking your operations to the Canary Islands are tangible. No matter if you are a large corporation or an SME, operating in the ZEC can provide you a much-needed vantage point in this ever-so-competitive industry.

If you are not sure about how to proceed or want to learn more, drop us an email or give us a call and our experts can guide you through the process.

622,000
* €/m2
128 m2 | 2 bedrooms | 2 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
The Canary Islands offers precisely that but with the legal security offered by Spanish and European regulations. With ZEC there are no more. ZEC - La Zona Especial Canaria (Canary Islands Special Zone) - Europe's best kept business secret is great for startups and companies. How Easy is it to Become a ZEC Company? The ZEC covers all the Canary Islands, the stunning chain of Spanish archipelago off the coast.

Companies planning to provide services are free to set up anywhere they see fit on the islands. Companies who are planning to provide goods , be that production, handling, transformation or commercialisation, must be located in special areas provided for these purposes.

These areas are near transportation routes throughout the islands, ie. Airports and Ports. Defined as the European California , the beautiful climate is just one of a huge list of reasons to move to the islands it is not hard to see why so many people are choosing to set up in the ZEC. Below is a few of the factors that help entities make their minds up:. The ZEC captures the best elements of Europe, with the beautiful climate of North Africa and incredibly reasonable operational costs.

Companies who are looking into setting up or working within the ZEC would be naive to ignore the importance and value of developing a business within these Island chains. Below are just a couple of examples that show the sheer differences between central Europe and the ZEC. Just from these examples it is clear how even small businesses can experience huge differences in their operation costs within the ZEC.

Below is a brief look into the talent that is within the ZEC. The Canary Islands provide a perfect place for companies searching for quality local talent, with great opportunities to grow and develop the workforces either via the 5 universities within the ZEC or enticing foreign talent.

With 5 universities 2 public, 3 private , 39 international schools and around professional training centers, local talent is not hard to find within the ZEC. Looking externally, the islands are a hotspot for attracting highly skilled foreign workers, with a large percentage of inhabitants being international, with the majority knowing at least 2 languages, a trait invaluable in the business world.

The Canary islands are renowned for retaining and attracting talent due to a number of factors such as the timezone GMT , the yearly average temperatures of 22c 72f and the highest sun hours in the whole of Europe! Thus providing investors, business owners and entrepreneurs with highly qualified, multicultural and intelligent talent.

As aforementioned the ZEC is connected to the major trade routes by air and by sea. Due to the exceptional connectivity and technological superiority of this zone, the ZEC has the perfect requirements to become a potential Air Hub for organizations that have operations between Europe, Africa and America. As the Canary Islands are an EU outermost region, they have their own economic and fiscal system, which is approved by the European Union, applying double taxation conventions and fiscal transparency.

Tax Credits are also offered for investments in sectors deemed the most strategic and profitable compared to the rest of Spain. Certain areas also carry unique economic advantages for exporting, importing and the inward processing of tangible goods.

The ZEC has all of the services, infrastructures and advantages of being within Europe while enjoying a unique geostrategic location to extend operations effortlessly into Africa. The Canary Islands have accumulated an impressive knowledge base over a wide range industries due to the highly talented workers who are either from the ZEC zone or have been attracted to it over the last 20 years. The ZEC have a surplus of high quality talent and have great potential to meet and exceed the needs of companies looking to set themselves up within the ZEC zone.

The quality of life within the Islands is comparable with the best areas in Europe. More and more companies are concerned about what they offering their employees, and strive to keep them for a long time, with factors like work-life balance, cost of accommodation or commute time, it can be hard to keep your workers satisfied.

The ZEC is often said to have the best climate in the world and having spring temperatures throughout the cooler months and a summer that attracts millions of tourists a year!

Within the ZEC there are protected natural areas, 4 biosphere reserves, 25 golf courses, and around miles km of beaches! It is not just the geographical factors that aid in high job satisfaction but also the people too, everyone who visits, inhabits or works in the ZEC can shortly adapt to the tranquil days, the exciting fiestas and the positivity that brings people back to the islands year after year.

The ZEC is renown for their gastronomy and the locality, freshness and quality of their ingredients and produce. To set a company up as a ZEC entity requires a little bit of administrative work, however the paperwork and one time admin fee around euros pay for themselves tenfold once the ZEC entity is set up. The ZEC was created to encourage, attract and grow businesses in the Canary Islands not to make barriers to entry.

The local government and authorities are always very supportive towards applicants looking to become a ZEC company. As mentioned above the ZEC covers all of the Canary Islands the only conditions are the following: Companies planning to provide services are free to set up anywhere they see fit on the islands. Low Operational Costs.

High Quality Workforce. It is similar in nature to VAT, although there are major diff erences such as the lower tax rates. According to the limit of the Community Law on accumulation of fi nancial support and under certain conditions, ZEC tax advantages are compatible with other REF tax incentives like the Reserve for Investment, the regime of deductions for investments and the tax-free areas.

Income Tax Nonresident IRNR exemption Dividends paid by ZEC subsidiaries to parent companies resident in another country as well as the interest and other income from transfers to third parties of capital and capital gains from property, obtained without a permanent establishment are exempt from withholding. The exemption described below shall also apply to incomes from the residents of any state where such incomes are paid by a ZEC company and come from operations materially and eff ectively carried out within the geographical area of the ZEC.

Corporate operations done by the ZEC entities, except their dissolution. Documented legal acts related to transactions of these entities in the geographical area of the ZEC. Compatibility with other REF tax incentives According to the limit of the Community Law on accumulation of fi nancial support and under certain conditions, ZEC tax advantages are compatible with other REF tax incentives like the Reserve for Investment, the regime of deductions for investments and the tax-free areas.

It must be a newly-created entity or branch with its registered address and effective place of management within the geographical area of the ZEC.

873,000
* €/m2
163 m2 | 10 bedrooms | 6 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
The ZEC is a low-taxation zone focused on the Canary Islands ZEC companies pay Spanish Corporate Income Tax at 4% (the EU average. The Canary Islands Special Zone (ZEC) The ZEC is a low Corporate Tax Incentive allowing Companies in Tenerife to pay 4% Tax on Profits. ZEC companies are exempt from Canarian Indirect General Tax (Canarian Sales Tax) on delivery of goods and provision of services from one ZEC Company to.

ZEC Qualifying Criteria. The company must be a newly created company with its fiscal address and effective place of management within the geographical area of the Canary Islands. The Company is required to make an investment within the first 2 years of trading.

As part of the accounting exercise, all CapEx and some OpEx expenditures can be allocated to this investment. The ZEC company should have a minimum of 5 employees on the company payroll and working from the Tenerife or Gran Canaria within the first 6 months of registration. Only 3 Employees are required if the company is based on any other island. Enjoy the free movement of funds when repatriating dividends free from utilising Spain Tax Treaty Network.

ZEC - Main Benefits. Any Company wishing to set up in the ZEC must satisfy a number of requirements, of which the most important are:. These rates vary according to:. Indirect taxes on legal operations and capital acquisitions made by companies. ZEC Companies are exempted from the payment of this tax for the following operations:. ZEC Companies are not obliged to deduct tax from payments for tangible assets made by them.

Application, authorisation and registration are the three steps required of companies wishing to set up within the ZEC. Fees applicable to ZEC Companies. ZEC Companies are subject to the following fees:.

451,000
* €/m2
135 m2 | 9 bedrooms | 2 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
The ZEC is a low-taxation zone focused on the Canary Islands ZEC companies pay Spanish Corporate Income Tax at 4% (the EU average. The Canary Islands Special Zone (ZEC) The ZEC is a low Corporate Tax Incentive allowing Companies in Tenerife to pay 4% Tax on Profits. ZEC - Canary Islands Special Zone is the lowest corporate tax location in the European Union. For qualifying companies the tax rate if just 4% equating to as.

It must be a newly-created entity or branch with its registered address and effective place of management within the geographical area of the ZEC. At least one member of the administration must reside in the Canary Islands. It must make a minimum investment of , euros in Gran Canaria or Tenerife or 50, euros in the case of La Gomera, El Hierro, La Palma, Fuerteventura or Lanzarote in fixed assets related to the activity within the first two years following its registration.

It is necessary to create, at least, fi ve jobs in Gran Canaria or Tenerife or three in the other islands during the first six months following its registration and this average must be maintained during the time that the benefits are enjoyed.

It is necessary to conduct activities that are permitted in the ZEC. No matter if you are a large corporation or an SME, operating in the ZEC can provide you a much-needed vantage point in this ever-so-competitive industry. If you are not sure about how to proceed or want to learn more, drop us an email or give us a call and our experts can guide you through the process.

Why choose the Canary Islands. Financial Incentives. Contact Us. Let us dive into the details of the benefits of taking all or part of your operations to the Canary Islands: 1. How to Qualify for ZEC? Following are the requirements that you need to ensure to qualify for ZEC: You must be an entity or branch of an entity with your registered location and address being within the geographical boundaries of the ZEC.

Production, processing, handling and distributive activities must be located in certain Designated Areas at:. Any Company wishing to set up in the ZEC must satisfy a number of requirements, of which the most important are:.

Application, authorisation and registration are the three steps required of companies wishing to set up within the ZEC.

The Consortium Board will then decide on the application and will inform the applicant of its decision within the space of two months from the date of presentation. The new company must be incorporated by a Notary Public and must be registered on the proper Registers this may be done prior to authorisation being received. Once authorisation has been received, the company must be registered on the Official ZEC Register, which is managed by the Consortium Board.

Latest Spain Questions There are currently no Spain questions. Ask one here. Spain Service Providers.

423,000
* €/m2
211 m2 | 8 bedrooms | 8 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
Are the Canary Islands a tax heaven? A comprehensive guide to the best tax incentives available in the European Union. 4% corporate tax, an. The Canary Islands Special Zone (ZEC) The ZEC is a low Corporate Tax Incentive allowing Companies in Tenerife to pay 4% Tax on Profits. The ZEC is a low-taxation zone focused on the Canary Islands ZEC companies pay Spanish Corporate Income Tax at 4% (the EU average.

At present, companies with their head office in mainland Spain are subject to double taxation on profits, which makes it difficult for them to set up in the low tax zone. Following the announcement of an extension in December , the benefits provided by the ZEC will initially be available until December 31, , although this may be further extended if the European Commission authorises it.

Any company intending to carry out manufacturing, commercial or service activities within the territory of the Canary Islands may register in the ZEC; financial services are excluded. Production, processing, handling and distributive activities must be located in certain Designated Areas at:. Any Company wishing to set up in the ZEC must satisfy a number of requirements, of which the most important are:.

Application, authorisation and registration are the three steps required of companies wishing to set up within the ZEC. The Consortium Board will then decide on the application and will inform the applicant of its decision within the space of two months from the date of presentation. The new company must be incorporated by a Notary Public and must be registered on the proper Registers this may be done prior to authorisation being received. Once authorisation has been received, the company must be registered on the Official ZEC Register, which is managed by the Consortium Board.

The ZEC company should have a minimum of 5 employees on the company payroll and working from the Tenerife or Gran Canaria within the first 6 months of registration. Only 3 Employees are required if the company is based on any other island.

Enjoy the free movement of funds when repatriating dividends free from utilising Spain Tax Treaty Network. ZEC - Main Benefits. ZEC Qualifying Criteria 1. No matter if you are a large corporation or an SME, operating in the ZEC can provide you a much-needed vantage point in this ever-so-competitive industry.

If you are not sure about how to proceed or want to learn more, drop us an email or give us a call and our experts can guide you through the process. Why choose the Canary Islands. Financial Incentives. Contact Us. Let us dive into the details of the benefits of taking all or part of your operations to the Canary Islands: 1. How to Qualify for ZEC? Following are the requirements that you need to ensure to qualify for ZEC: You must be an entity or branch of an entity with your registered location and address being within the geographical boundaries of the ZEC.

988,000
* €/m2
248 m2 | 2 bedrooms | 6 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
Are the Canary Islands a tax heaven? A comprehensive guide to the best tax incentives available in the European Union. 4% corporate tax, an. ZEC - La Zona Especial Canaria (Canary Islands Special Zone) - Europe's best kept business secret is great for startups and companies. ZEC companies are exempt from Canarian Indirect General Tax (Canarian Sales Tax) on delivery of goods and provision of services from one ZEC Company to.

Production, processing, handling and distributive activities must be located in certain Designated Areas at:. Any Company wishing to set up in the ZEC must satisfy a number of requirements, of which the most important are:. Application, authorisation and registration are the three steps required of companies wishing to set up within the ZEC. The Consortium Board will then decide on the application and will inform the applicant of its decision within the space of two months from the date of presentation.

The new company must be incorporated by a Notary Public and must be registered on the proper Registers this may be done prior to authorisation being received. Once authorisation has been received, the company must be registered on the Official ZEC Register, which is managed by the Consortium Board.

Latest Spain Questions There are currently no Spain questions. Ask one here. Spain Service Providers. As part of the accounting exercise, all CapEx and some OpEx expenditures can be allocated to this investment. The ZEC company should have a minimum of 5 employees on the company payroll and working from the Tenerife or Gran Canaria within the first 6 months of registration.

Only 3 Employees are required if the company is based on any other island. Enjoy the free movement of funds when repatriating dividends free from utilising Spain Tax Treaty Network. ZEC - Main Benefits. ZEC companies may not offer services of a financial nature. Service companies may be set up in any part of the territory of the Canary Islands. Production, processing, handling and distributive activities must be located in certain Designated Areas at:.

There are Designated Areas on each of the other Canary Islands. Any Company wishing to set up in the ZEC must satisfy a number of requirements, of which the most important are:.

693,000
* €/m2
120 m2 | 1 bedrooms | 9 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
How Easy is it to Become a ZEC Company? The ZEC covers all the Canary Islands, the stunning chain of Spanish archipelago off the coast. The ZEC is a low-taxation zone focused on the Canary Islands ZEC companies pay Spanish Corporate Income Tax at 4% (the EU average. q What requirements does a ZEC Company have to meet? The Canary Islands Special Zone has been created within the Fiscal and Economic Regime of the.

Compatibility with other REF tax incentives According to the limit of the Community Law on accumulation of fi nancial support and under certain conditions, ZEC tax advantages are compatible with other REF tax incentives like the Reserve for Investment, the regime of deductions for investments and the tax-free areas.

It must be a newly-created entity or branch with its registered address and effective place of management within the geographical area of the ZEC. At least one member of the administration must reside in the Canary Islands. It must make a minimum investment of , euros in Gran Canaria or Tenerife or 50, euros in the case of La Gomera, El Hierro, La Palma, Fuerteventura or Lanzarote in fixed assets related to the activity within the first two years following its registration.

It is necessary to create, at least, fi ve jobs in Gran Canaria or Tenerife or three in the other islands during the first six months following its registration and this average must be maintained during the time that the benefits are enjoyed. It is necessary to conduct activities that are permitted in the ZEC.

If you continue using this site we will assume that you agree. Accept Privacy Policy. Although mainland tax regulations apply in the Canaries, companies operating there are also eligible for special tax incentives the Special Tax Regime or REF. Key features of the REF are as follows:. The Canary Islands Special Zone has been created within the fiscal and economic regime of the Canary Islands for the purpose of encouraging the economic and social development of the islands and the diversification of their manufacturing and service sectors.

In early , the Department of Economic Affairs and Finance of the Canary Islands Government suggested the introduction of improvements to the Canary Islands Economic and Fiscal Regime, including the extension of the time frame of the low tax zone beyond of 25 years for companies in the service sector and 50 years for companies operating in the industrial sector.

In addition, a suggestion has been made for solving the problems related to double taxation on profits. This modification aims to make the ZEC a real stimulus for attracting companies with newly-created economic activity.

At present, companies with their head office in mainland Spain are subject to double taxation on profits, which makes it difficult for them to set up in the low tax zone. Following the announcement of an extension in December , the benefits provided by the ZEC will initially be available until December 31, , although this may be further extended if the European Commission authorises it.

Any company intending to carry out manufacturing, commercial or service activities within the territory of the Canary Islands may register in the ZEC; financial services are excluded. Production, processing, handling and distributive activities must be located in certain Designated Areas at:. Any Company wishing to set up in the ZEC must satisfy a number of requirements, of which the most important are:.

Application, authorisation and registration are the three steps required of companies wishing to set up within the ZEC. The Consortium Board will then decide on the application and will inform the applicant of its decision within the space of two months from the date of presentation.

The new company must be incorporated by a Notary Public and must be registered on the proper Registers this may be done prior to authorisation being received.

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Statistics and prices of properties with pool in Spain

Prices are going up in this area.

Average price in this area: 1,126 €/m2

The cheapest property in this area: Rent to own detached house in Alcobendas, 0

The most expensive property in this area: Hotel for sale in Nueva Andalucía, Marbella, 65,000,000 €

Cheapest areas: Aragon, Castile and Leon, Estremadura

Most expensive areas: Melilla, Balearic Islands, Andalusia

Prices are going down in the areas: Madrid, Andalusia, Canary Islands.

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