Regions

As an outermost region of Europe, the Canary Islands has its own economic and fiscal system, fully approved by the EU, which all double taxation and fiscal transparency agreements apply.

THE LOWEST CORPORATE TAX IN EUROPE

• Corporate tax fixed at 4%

• Dividends exempt from withholding tax

• Indirect taxation: its own tax regime: 6.5% of IGIC (as opposed to 21% applied in mainland Spain)

INCENTIVES FOR R&D AND TECHNOLOGICAL INNOVATION ACTIVITIES

• An annual cost reduction of 45-90% for R&D activities

• An annual cost reduction of 45% for technological innovation activities

The archipelago's tricontinental geostrategic position makes the Canary Islands a gateway to the European Union and a commercial and business hub for Europe, the Americas and Africa.

The Canary Islands archipelago has all the infrastructures, services and advantages available of major European cities, in addition to being the ideal place for setting up international companies that want to operate in Africa.

The Canary Islands has state-of-the-art scientific facilities and excellent applied research centers, particularly in areas such as biotechnology, robotics and telematics, food and marine-maritime technology, environmental management and renewable energy.

Scientific facilities in the Canary Islands:

MARINE-MARITIME RESEARCH

−        Canary Islands Oceanographic Center

−        Spanish Algae Bank  (BEA)

−         Canary Islands Oceanic Platform  (PLOCAN)

−        Center for Marine Biotechnology (CMB)

−        Canary Institute of Marine Science (ICCM)

AGRICULTURAL AND BIOLOGICAL RESEARCH

−        Antonio González Bioorganic University Institute (IUBO)

−        Institute of Natural Products and Agrobiology (IPNA)

−        Canary Islands Institute for Agri-Food Research (ICIA)

ASTROPHYSICAL AND TECHNICAL RESEARCH

−        Canary Islands Institute of Astrophysics (IAC)

−        Canary Islands Institute of Technology (ITC)

−        Institute of Technology and Renewable Energies (ITER)

−        National Institute of Aerospace Technology (INTA)

HEALTH RESEARCH

−        Institute of Tropical Diseases and Healthcare of the Canary Islands (ICET)

−        Canary Islands Cancer Research Institute (ICIC)

−        Institute of Biomedical Technologies (ITB)

−        Canary Islands Health Research Foundation (FUNCANIS)

The excellent quality of life and safety in the islands, together with the opportunities for training and professional development, generate a significant capacity for attracting and retaining talent. It is very easy to find multilingual professionals among the Canary Islands population, mainly due to the high percentage of foreign residents in the archipelago, the islands' tourist tradition, and numerous bilingual schools.

Air connections

With around 2,800 weekly international flights, the Canary Islands air route network is among the largest in Europe. Add to that, 48 weekly flights with Africa. Eight airports – including 6 international – transport over 35 million passengers a year.

Maritime connections

With connections to more than 500 ports worldwide through 30 maritime lines, the archipelago is an essential route between Europe, the Americas, Africa and Asia.

⮚     26 COMMERCIAL PORTS

⮚     7.5 million PASSENGERS/YEAR

⮚     36.3 million Tm GOODS TRAFFIC

Telecommunications network

The Canary Islands is the ideal place for establishing and developing telecommunications activities, as it has extensive satellite coverage (around 50 satellites provide service to the islands) and complete interconnection via underwater fiber-optic cable.