The Canary Islands has its own REF, which is subordinate to Spanish legislation and fully authorized by the EU. It is therefore an area with very low taxation and thus highly attractive for investment, without being any sort of tax haven. Noteworthy among the main incentives are:
To see more: www.invertirencanarias.com
The Canary Islands Development Company (SODECAN in its Spanish acronym) supports the expansion of existing companies and the creation of new ones. SODECAN can hold a minority stake in the capital of a company (between 5 and 45%) on a temporary basis until the company or its expansion project has become established, with the period ranging from four to five years in most cases.
Creation, expansion, modernization and transfer of companies; energy savings; import of basic products; inter-island transportation; quality; alternative energies; new technologies; the clothing industry; trade; promotion abroad; computer equipment; communications; tourism; agriculture and livestock. Up to 50%–60%, depending on the business activity, number of jobs created or technological innovation applied.
For creation, expansion, modernization and transfer, up to 40% of the entire subsidizable investment.
Training for unemployed and employed persons. Up to 100% of expenses choosing from among officially recognized bodies.
Doctors, reorganization of work time, disabled unemployed people, hospitality, tourism, construction, groups with special placement difficulties, comp time, freelance and self-employed workers and permanent contracts.
Industrial research and development, pre-competitive development, technological demonstration, international programs and applied research (PROFIT Program). Up to 50% of the investment and subsidizable expenses.
Last updated: 09|06|2016
The information on these pages was prepared by each autonomous community