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)