The Guru Guide To Opening A Gran Canaria Business

The Gran Canaria guru guide to opening a Gran Canaria business

Opening a Gran Canaria business: Self-employed or a limited company?

If you’re planning to open a Gran Canaria business, the first thing you need to do (after a market study and lots of research) is to work out what type of company or self-employed status is best.

There are dozens of different company structures allowed in Spain but most people opt for the most common ones. Just for fun, here’s a full, slightly mind-boggling list of the potential options.

Being a sole trader in Gran Canaria: Going autónomo

Most small Gran Canaria companies keep things simple and opt for self-employed status (known as being Autónomo). This allows you to work legally, open a business bank account, send facturas in your name, employ other people, etc.

When we said simple, notice how we didn’t mention cheap. Once your first year of cheap Autonomo status is up, you’re looking at a mandatory 250-270 euro payment per month. This covers social security payments and insurance but doesn’t include tax. Autonomos in Gran Canaria still have to pay income tax (IRPF) and VAT (IGIC).

The total tax bite for a sole-trader in Gran Canaria is roughly 20% of earnings (but you can deduct expenses). You have to do annual or quarterly IRPF declarations and pay IGIC quarterly (we seriously recommend that you employ and accountant or gestoria to do this for you).

Two or more autonomos can further organise themselves into a partnership and obtain a CIF business number which looks better on bids that the NIE o NIF number that autonomos have to use.

A major disadvantage of being autonomo is that there is no limitation so creditors can pursue all your assets including your home if you are in debt. There is a form of autonomo called a Emprendedor de Responsabilidad Limitada which protects your home (to a certain extent) from creditors.

In any case, civil liability insurance is a good idea.

A limited company in Gran Canaria: The sociedad limitada or SL)

Sociedad de Responsabilidad Limitada (almost always referred to as an SL) is the Spanish equivalent of a UK limited company and give you similar protection from creditors in the case of debts.

To set one up you need to register a name with the Registro Mercantil and to put in a minimum capital investment of €3,005.06 (most people take it out the day after the company is set up although you aren’t meant to).

Starting a stock corporation in Gran Canaria: The Sociedad Anónima – S.A.

This is not a common way to start a business in Gran Canaria or Spain as it requires an initial capital of €60,101.21. However, an SA does protect you from personal liability and also allows you to sell the shares to a third party.

If your Gran Canaria startup is going global, this is a good ay to get investors on board.

An SA must have a Board of Directors (Consejo de Administración) and hold an annual Shareholders’ General Meeting (Junta General de Accionistas).

The tax efficient Gran Canaria company: Starting a ZEC

If you plan to come to Gran Canaria, invest a significant amount of money (100K-plus) and employ five people, then consider a ZEC entity. These are legal, low-tax companies based in the Canary Islands that save serious amounts on capital gains and corporation tax.

Read our guide to starting a Gran Canaria ZEC here.

Joining a cooperative in Gran Canaria: Joining a Cooperativa

Cooperatives are a way for autonomos to share costs. Instead of working for n employer as an autonomo, you bill via the cooperative and pay it a percentage of your earnings.

To join a cooperative ou have to find one that works in your business niche (teacher, jeweler, etc). Then you have to persuade the people you work for that cooperatives are a valid way of doing business in Gran Canaria as most people have never heard of them.

Cooperatives are worthwhile provided that you own under around 2000 euros per month. Above this figure and you are better off being autonomo.

Opening a Gran Canaria business

Becoming autonomo isn’t too hard: Just take your NIE to the Ventanilla Unica Empresarial on Leon y Castillo in Las Palmas and hope that everyone is at their desks. You should be able to sign up for tax and social security on site, then register for IGIC with the Canarian tax office (about 10 minutes north of the VUE).

If you are a new resident, you may be asked to provide evidence that you have a business plan and clients before you can sign up.

You need to pick an autonomo code that identifies your line of work. The list is long and rather pedantic so it’s worth having a look before you head off to sign up. Here is the full list in English. The only effect this has on you is that it affects whether you have to declare your earnings annually or quarterly.

You should be able to sign up for tax and social security on site, then register for IGIC with the Canarian tax office (about 10 minutes north of the VUE).

For all other corporate structures in Gran Canaria, we seriously advise you to use an advisor as the paperwork is complex and the options myriad.

In Las Palmas de Gran Canaria, we recommend Montelongo Asesores as they have plenty of experience helping foreigners to set up in Gran Canaria. If you are planning a ZEC, they are the most experienced firm on the island.

If you plan to run a business in Gran Canaria you’ll need to speak at least some Spanish: Here’s our Guru Guide to Learning Spanish in Gran Canaria.


Contact Nayra From Caser Expats In Gran Canaria

Nayra runs Caser Expats Insurance here in Gran Canaria and speaks excellent English. If you need insurance of any kind as a foreign resident in Gran Canaria, we recommend that you talk to here about Caser Expats excellent value insurance offers for foreign residents*.

Phone here on 667633458

Or email…

caserforexpats@gmail.com

Say hello from Gran Canaria Guru and we promise that Nayra will be extra nice.

*Caser Expat Insurance available to EU, EEA, EFTA, US, Canada, Australia and New Zealand citizens.


The Las Palmas Film Festival Starts Today

The Las Palmas Film Festival 2017 Starts On March 2017

The Las Palmas Film Festival 2017 Starts On March 2017

The 17th annual Las Palmas Film Festival starts today and runs until April 9. It features 100 films and 200 screenings at several venues across the city including the Multicines Monopol, Teatro Perez Galdos and the Paper Club. 

See the full film festival schedule.

The competitive section of the festival has 13 international feature film contenders and the first to screen is Katie Says Goodbye, Wayne Roberts’ first feature film. There are also 16 short films competing for a prize and a separate Canarias Cinema section with five features and twelve short films.

This year there is also a foodie element to the festival with 20 Las palmas restaurants offering special dishes during the festival week.

See the restaurants and festival dishes.

Tickets to attend the 17th Film Festival’s screenings go on sale on Wednesday, March 29, at the Pérez Galdós Theater, Monopol Cinema and Elder Museum of Science and Technology’s box offices.

Each film costs  4 euros and there is a 12 euro pass that allows you to watch five films.

Full ticket price information.

There are also a series of music concerts during the festival, including Los Vinagres, Julieta Venegas and Bejo. There’s a free concert in the Santa Ana Square in Vegueta on Friday 7 and Saturday 8 of April.

Concert information


Brexit A Big Opportunity For Canary Islands Business?

Is Brexit a big opportunity for the Canary Islands?

Is Brexit a big opportunity for the Canary Islands?

KPMG Abogados partner Francisco Uría has told a business audience in Gran Canaria that Brexit is a big opportunity to attract Gibraltar-based businesses to the Canary Islands.

Uría believes that the uncertainty surrounding the Brexit process and Gibraltar’s future means that companies will be looking for an alternative base.

The Canary Islands’ low tax regime, within the Zona Especial Canaria (ZEC), allows companies here to set up and pay just 5% corporation tax and no VAT on exports.

More on the Zona Especial Canaria (ZEC)


Got A Gran Canaria Mortgage? Your Bank Probably Owes You Thousands

Spains banks owe many Gran Canaria customers thousands of euros

Spains banks owe many Gran Canaria customers thousands of euros

The last decade was torrid for Spain’s banks. They overlent and overspent during the property boom and suffered during the subsequent crash. Many went bust or merged. Read More


Useful Las Palmas People: Mobile Phone & Computer Repair

Canari Movil phone, tablet and computer repairs in Las Palmas is an excellent option.

Canari Movil electronics repairs in Las Palmas de Gran Canaria

Cracked mobile screen or a broken laptop? Here’s the go-to man in Las Palmas for fast, cheap repairs.

There are plenty of places to get your tech fixed in Las Palmas de Gran Canaria, but we always use Canari-Movil on Calle Peru 70, Guanarteme. It’s a one-man shop run by Oliver and he can fix pretty much any mobile phone, tablet, laptop or PC.

We’ve taken cracked screens, blue-screen-of-death tablets and broken computers to him and he’s always been able to fix them or tell us why they are dead.

The best thing about Oliver is that he won’t charge you unless he fixes your device.

Oh, and that he charges you cost price for any new components.

He also puts together new desktop computers and can jazz up laptops for much less than the price than an off-the-shelf model.

See Canari-Movil’s website for contact details, or link on Facebook. Or call Tlf . : 828028066 – Movil: 646427823.


The Guru Guide To Getting Your Certificado Digital In Gran Canaria

The Guru guide to getting your Certificado Digital in Gran Canaria

The Certificado Digital is a way of getting lots of useful bits of paper out of the Spanish tax and Social Security systems without having to queue up for them.

As you might expect, getting it is a whole heap of hassle. However, it’s well worth getting because it saves you lots of even bigger heaps of hassle down the line.

The process is a two-day job.

On day one, you have to submit a form and get a code via email. On day two, you take the code to Hacienda, then go back to your computer and download the certificate. Read More


Christmas Events In Gran Canaria 2016-2017

Gran Canaria Christmas & New Year Events 2016-17

Here’s a useful guide to Gran Canaria Christmas and New Year events from all over the island (2016-17).

Municipio de Mogán

Download the Mogán Christmas program.

Highlights include:

  • Mestisay concert in Mogan Pueblo and switching on of the Christmas lights: 6th December.
  • Food fair in Arguineguín during the day. Carols in the evening: 17th
  • Christmas market in Playa de Mogán: 22nd
  • Street procession in Arguineguin with traditional music and carols: 23rd
  • Living Belen in Veneguera: 25th from 19.00
  • New Year Celebrations in Mogan, Playa Mogan and Arguineguin: 31st
  • Three Kings Fair in Arguineguin: 5th January

Municipio de San Bartolomé de Tirajana

Download the full San Bartolomé program.

Highlights include:

Living Nativity Scene: Plaza Cercado de Espino: 18th December at 20.00

Three Kings Parade: January 5th. 18.00 San Fernando: 19.00 Tunte: 20.00 Plaza de Fataga

 

Las Palmas de Gran Canaria

Download the full Las Palmas Christmas program.

Highlights include:

  • Sand nativity scene at La Puntilla on Las Canteras beach: Open every day.
  • Cero Festival: Live outdoor music by The Birkins, Xoel Lopez: By the Alfredo Kraus statue on the beachfront: From 20.00: 8th, 9th, 10th December. Full Cero Festival program.
  • Musical Procession: Thursday 15th from 17.30 in Triana.
  • Gofiones Concert: Wednesday 21st from 21.00. Plaza Santa Ana in Vegueta.
  • Fireworks: From 23.00 on December 31st.
  • Three Kings Parade: Thursday 5th January from 17.00. From Castillo de la Luz to Parque San Telmo.

Other events

For detailed info about events each weekend, see the latest and always excellent Canary News Event Guide.

In Las Palmas, La Brujula del Ocio lists concerts and events. Also keep an eye on the LPA Info Facebook group.

Most municipios publish their own local events guide on their websites.

Merry Christmas and a Happy New Year from Gran Canaria Guru.


Useful Las Palmas People: Juan The Taxi Man

A reliable Las Palmas de Gr

A reliable Las Palmas de Gran Canaria taxi driver

If you’re staying in a hotel in Las Palmas, there’s always a taxi outside to whizz you to the airport. 

However, if you stay in an apartment or flat, you may need to find your own.

You can drag your luggage out onto the pavement and wait, or you can call Juan the taxi man; he’s a safe and reliable driver who will pick you up from anywhere in Las Palmas and take you to the airport for around 30 euros.

Juan doesn’t speak much English, but if you know your address and the time you need to be picked up, he’ll be there.

Contact Juan the taxi man on 659 64 27 91.


Gran Canaria Expat Television: TV Mucho Now Available Online

The Guru Guide to watching UK television and programmes in Gran Canaria

TV Mucho is a revolutionary new way to watch British television in Gran Canaria (and anywhere else in Spain). 

We love it because it is a Gran Canaria-based company that lets you watch British telly in high quality and high definition rather than relying on dodgy websites and pixellated streams.

Until now, TV Mucho was available via a simple box that you just plugged into your television. It was a neat and simple way to get British telly.

However, the TV Mucho boffins have just made things even easier. Now, you don’t even need a box.

TV Mucho is now available via your browser so that you can watch it on any device with an internet connection and, of course, on your big screen via any TV box or smart telly.

And, best of all, you can try it for free!

Sign up to TV Mucho online and you get a seven-day free trial. If you like the service (and you will), then you pay just eight euros per month for unlimited, high-quality online programs from the BBC, ITV, Dave, Spikea nd a whole host of other British channels.

Get your free TV Mucho online trial