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)


The Guru Guide To Setting Up A Tax-Efficient Gran Canaria Business (ZEC)

Low-tax Gran Canaria business and ZEC investments in Gran Canaria

Low-tax Gran Canaria business and ZEC investments in Gran Canaria

Gran Canaria is part of the ZEC, or Canary Islands Special Zone. What’s special about it?

Well, open a business in Gran Canaria and tick all the boxes, and you pay just 4% corporate income tax and gets a slew of other benefits.

What is the ZEC?

The ZEC is a low-taxation zone focused on the Canary Islands. Its main purpose is to encourage European businesses to move to the Canaries, or set up subsidiaries here, to provide jobs and experience to local people and boost the economy. In exchange, it offers businesses one of the lowest corporate tax regimes in Europe. Read More