Company formation

NIE application

Accounting and tax filing

Payroll

Legal

VAT registration

Virtual office

	Phone:	+34 902 585 435
		+34 932 155 393
	Fax:	+34 911 817 574
	Email:
	Skype user: strongabogados
	Office hours: Mon-Fri 9:00 - 18:00
	Offices in Barcelona, Madrid, and Tenerife

Forming a company in the Canary Islands gives you a significant advantage over your competition:
no VAT tax charged to your clients.

There are other advantages to forming a company in the Canary Islands, all fully backed by the European Union. The IGIC tax is part of the Canary Islands' special Fiscal and Economic Regime (REF), aimed at encouraging investment in the Canaries by offering a lower tax burden.

• The Canary Islands Special Zone (ZEC)
  Instead of the usual Spanish corporate income tax rate of 25-30%, companies approved for ZEC pay a corporate tax rate of 4%. See brochure for more information.
• Deduction in corporation tax for investments
  A fiscal Incentive which reduces the corporation tax or income tax liability. The percentages deducted are 80% greater than those of the general regime, with a minimum differential of twenty percentage points.
• Allowance for production of tangible assets
  Allowance on the corporation tax or income tax liability deriving from the sale of tangible assets produced in the Canary Islands and which are connected with industrial, agricultural, livestock, and fishing activities. These allowances are of 50%.
• Exemption from Capital Transfer Tax and Stamp Duty (ITP Y AJD)
  Exemption, under certain conditions, for incorporation, capital increases, and the purchase of goods and rights.
• Reserve for Investments in the Canaries (RIC)
  Permits a reduction in the tax base for corporation tax of up to 90% of undistributed profits devoted to the purchase of new or used fixed assets, subscription of bonds or account entries of Canarian Public Debt or subscription of shares or stockholdings in the capital of companies which have a permanent establishment in the Canary Islands. Individuals who pay income tax who determine their net profits by means of the self-assessment method are entitled to a deduction in their total tax liability for the net operating profits devoted to the RIC.

FAQs:
Are the Canary Islands blacklisted as an offshore tax haven by the European Union?

 

 

Are the Canary Islands blacklisted as an offshore tax haven by the European Union?

Exactly the contrary. Canary Islands bank accounts are fully transparent; reporting to the Bank of Spain is the same as in the rest of Spain. Because of this you will never have difficulty retrieving your money from a bank account in the Canary Islands, as you would from the various offshore tax havens.