Real Estate Agency on Gran Canaria

Establishing a Business

Enjoy now the benefits of establishing your business in the Canary Islands.

The steps that have to be taken to make the different types of investments are the following:

  • Incorporation of a Spanish Corporation or opening of a Spanish Branch.
  • Acquisition of shares of an existing Spanish corporation.
  • Acquisition of real estate located in Gran Canaria.

The best taxation in Europe

The Canary Islands Special Zone (ZEC) is a low tax zone authorized by the European Commission (EC) in 2000. It is created within the framework of the Canary Islands Economic and Tax Regime (REF) for the promotion of the economic and social development of the Islands and to diversify their production structure.

This instrument implies several incentives like a reduced corporate income tax rate of 4%, exemptions in the Canary Islands General Indirect Tax (IGIC) and the Property Transfer Tax and Stamp Duty (ITP-AJD). Furthermore the ZEC encloses tax advantages for subsidiary non-resident companies in Spain and on regards the income tax of non-residents


  • ZEC companies are subject to the Corporate Income Tax in force in Spain, but at the reduced rate of 4% (compared to 23%, average in the European Union).
  • ZEC companies are eligible for the Parent-Subsidiary Directive of the European Union, so that Dividends paid by ZEC subsidiaries to parent companies resident in another EU country are exempt from withholding, and also all countries that signed an agreement to avoid Double Taxation (more than eighty countries).
  • Tax exemption in the Property Transfer Tax and Stamp Duty (ITP-AJD).
  • In the ZEC the supply of goods and services done within ZEC entities, as well as imports of goods made by them, shall be exempt from taxation by the Canary Islands General Indirect Tax (IGIC, which is similar in nature to VAT).


  • It must be a newly-created company with its registered address and effective place of management within the geographical area of the ZEC.
  • At least one member of the administration must reside in the Canary Islands.
  • It must make a minimum investment of 100,000 Euros (in Gran Canaria and Tenerife) or 50,000 Euros (in the rest of the islands) in fixed assets related to the activity within the first two years, following registration in the ROEZEC.
  • It is necessary to create, at least, five jobs (in Gran Canaria and Tenerife) or three (in the other islands) during the first six months following registration in the ROEZEC and this average must be maintained during the time that the benefits are enjoyed.
  • It is necessary to conduct activities that are permitted in the ZEC.

Read more on the website from (ZEC) The Canary Islands Special Zone


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