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Financial
Benefits
Tax
Fiscal advantages in the Canary Islands for private
or professional investments.
The Canary Islands have been categorized by the European
Central Government as the Z.E.C (Zona Especial Canarias),
this implies low taxation (only 5% I.G.I.C - equivalent
of VAT), 18% on capital gains. Buying in the name
of a company will exempt you from said tax. The R.I.C
(Reservas de Inversiones Canarias), stipulates that
companies will be taxed at just 10% of their profit
if they allocate 90% within the Canarian territory.
The government allows a period of three years to
invest those benefits. As such, we have been witnessing
a spectacular economical growth during recent years,
and an increasing number of Multinational Offshore
Companies on the islands.
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