Five Reasons Why Companies Choose Canaries Over Spain?

 

The Canary Islands are one of the seventeen Spanish regions or autonomous communities into which Spain is divided and as such they form part of the European Union (EU) and of the Euro Zone. Located at a distance of just over 1,000 kilometres from the Iberian Peninsula and about 100 kilometres from Africa, the Canary Islands are positioned in the Atlantic Ocean as a strategic enclave between three continents: Europe, Africa and America.

Administratively, they are divided into two provinces: Las Palmas, made up of the islands of Gran Canaria, Fuerteventura and Lanzarote; and Santa Cruz de Tenerife made up of Tenerife, La Gomera, La Palma and El Hierro.

 

The cities of Las Palmas de Gran Canaria and Santa Cruz de Tenerife share the status of capital.

The unique natural conditions have established the Canaries for decades as a first-rate holiday destination, receiving over nine million foreign tourists a year and three million Spanish tourists who visit the Islands attracted by the climate and the friendliness of the people.

 

The conjunction of all these characteristics together with one of the best standards of quality of life in Europe and specific fiscal conditions, together with other specific characteristics which will be listed below, make the Canary Islands a business centre of great potential:

 

  1. Enviable geo-strategic location – daily connections to 178 locations worldwide
  2. Lowest onshore corporation tax rate in Europe. 4% – wealth creation for Directors and equity enhancement for shareholders
  3. Qualified and competitive human resources – young skilled multi-lingual workforce at excellent rates
  4. Excellent infrastructures of services and communications – constantly developing and a leader in clean-tech initiatives
  5. Leading-edge technological research – institutions supported from global experts and organisations

Tenerife is the largest of the Canary Islands and has the highest population of 908,555. The main activity in the south of Tenerife is tourism and lags behind the business capital of Santa Cruz in terms of Infrastructure, Communications and Commercial Functionality, with Santa Cruz being the main headquarters for, Politics, Banking, Insurance and Shipping.

Total area                                                       7.447 km² 1.114 Km. of coastline 257 Km. of beach

Average annual temperature                        15ºC to 24ºC

Official language                                           Spanish

Local time                                                      GMT winter BST Summer

Currency                                                        Euro

GDP 2009                                                       41.411,271 millones _

Per capita GDP 2009                                     19.867 _

Population 2009                                              2.103.992

Population density                                          282,5 hab./km2

Tourist arrivals 2009                                      13.356.325

Working week                                                40 hours/week

Minimum wage 2009                                    €633,30 per/ month

Consumer price index 2009 0,5%

Infrastructure:                                                Airports 8 (6 of them international)

Commercial ports 27 – Marinas 19 – Road network 4.467 km2

 

To discover is the Canaries advantages could benefit your business request to speak to one of our specialists by emailing welcome@capitalinvestmentcanaries.com

 

©PSG- Holdings (Pennington Sinclair Group Holdings) – All rights reserved. Canary Islands, Monaco, Malta & Cuprus
Bill Clinton Tenerife

Shipping & Logistics Canary Islands

3 reasons Manufacturing Shipping & Logistics Companies see the Canaries as the most desirable location for intercontinental trade?

After a recent meeting with the President & Commercial Director of the Port Authorities to discuss the infrastructure investment opportunities for CIC’s Senior Debt and Institutional Lending partners (an Australian Group with it’s European HQ in London) the full magnitude of the investment development plan became apparent.

There is no question the Canaries is a superb geographical location as the southernmost port in the European Union and a tri-continental bridge between America, Africa and Europe, makes the Islands a magnificent commercial and business platform.

Former US President Bill Clinton opens the Canaries as a Tri-Continental Investment

platform in which American companies will base themselves for trade with Africa

Historically and culturally the Canary Islands are very closely linked with Latin America and with significant commercial and institutional links with West Africa.

They constitute an excellent commercial and logistical platform for transfer of goods, services and technology between the continents, as they are on the main routes of international trade.

This circumstance makes it possible for an investor to handle strategic projects in West Africa and Latin America, with the legal certainty that having a business base in Europe enjoying the cultural, financial and commercial security that Europe provides.

 

In addition to the enviable location the Canaries offers some of the most advantageous commercial tax rates in Europe. For qualifying companies a Corporation Tax rate of just 4% can be enjoyed, There exists a 90% tax break on profits for companies that re-invest into the Canary islands, and for companies starting up in the Canaries a Deduction of Investment DIC can be enjoyed in the form of Tax credits ranging between 25 and 42%.

In addition the Canaries boasts Free Trade Zones offering an unrivalled advantage for companies involved in importing or exporting goods from Africa and Europe, and for production companies the ability to enjoy further tax breaks for the finishing of tangible goods on the islands.

 

Capital Investment Canaries CIC are Official Partners of the Canarian Governments ZEC Consortium and the Tenerife Cabildo’s Economical Development Department. We specialise in the Canary Islands Tax Incentives and through our Suitability Study we can thoroughly demonstrate which combination of the fiscal incentives can work for your company like many of our clients.

For more information request a contact from us by emailing welcome@capitalinvestmentcanaries.com or come and visit us at this years TOC Event on December the 10th and 11th at the Auditorium Santa Cruz http://www.toc-marketbriefing.com/

 

©PSG- Holdings (Pennington Sinclair Group Holdings) – All rights reserved. Canary Islands, Monaco, Malta & Cuprus

Canary Islands – Commercial Gateway to Africa

Gateway to Africa

Tenerife is an ideal location if you are interested in maintaining commercial ties with Africa since our business folk have the experience and contacts to help you develop any project on the continent.

The Canary Islands exports to 44 of the 54 countries in Africa. In 2012, the archipelago was the top Spanish region for exports to Mauritania, Togo, Cape Verde, Liberia, Guinea Bissau and the Comoros, and the second to the Gambia.

Captura de pantalla 2013-07-09 a la(s) 11.14.53

In 2012, Canary Island exports to the African continent reached 207.42 million euro. Looking at the last five years, the archipelago has exported a total of 1.172 billion euro, representing 11% of all Canary Island exports over the period.

The ten main African markets for Canary Island exports in the last five years were:Morocco (€377.60 million), Mauritania (€217.49 million), Nigeria (€108.73 million), Cape Verde (€88.04 million), Liberia (€84.96 million), Togo (€76.05 million), Equatorial Guinea(€75.92 million), Senegal (€59.95 million), Côte d’Ivoire (€52.74 million) and Guinea (€44.79 million). Out of these, the highest increases in the last five years were seen in Equatorial Guinea (320.5%) and Togo (232.6%). Alongside these historical markets for the Canaries, Angola is also gaining weight, recording exports from the islands in 2012 of 9.17 million euro.

The main export products in the Canary Islands and shipped to Africa in 2008-2012 were fuel and mineral oils (€603.83 million), machinery and mechanical equipment (€137.79 million), fish, shellfish and molluscs (€91.79 million), cars (€49.95 million), and electrical equipment and material (€26.23 million).

There are currently over 200 Canary Island companies installed in Africa, operating in different sectors in different countries such as Morocco, Cape Verde, Senegal, Mauritania, Ghana and Equatorial Guinea making the Canary archipelago a privileged access point for markets on the west coast of Africa.

post from Why Tenerife

Are you missing out on the Economic uplift?

Are you missing out on the Economic uplift?
Are you missing out on the economic uplift?

Are you missing out on the economic uplift?

Since early 2013 there’s been signs that the economy is firmly on the road to recovery investors are gaining more confidence and for companies that survived the recession now is the time to invest in their own businesses.

The good news is that now is a great time to raise investment, sell a little equity and cash up ready for growth but before you do you might want to speak to us about our RBS growth model, we’ll come back to that a little later, firstly lets acknowledge where we are in the economic cycle.

 

Where are we in the economic cycle?

We’ve just gone through a “W” shaped recovery to this recession, people are calling it a recession but it was actually a depression. The last time we saw a “W” shape recover was from the 74,75 recession, the time before that was the 37, 38 recession and the time before that the 29,31 recession. The other two types of economic recovery is the “V” shaped recovery which is what everyone was hoping it was going to be, and lastly there’s the “L” shaped recovery. Each recovery is names after the graphical trends of the markets which is what determines our economy some 6-18 months later.

 

So what does this all mean to my business?

There are different era’s to the commercial cycle, Product, Image, Marketing, Distribution. Each era demands a different business model to flourish, by knowing which era we are in now it’s much easier to build a model that enhances rapid growth, something which we’ve been assisting our clients with over the past 11 months. Doing the right thing at the wrong time can be just as disastrous as doing the wrong thing, if you’re not seeing healthy jumps every quarter right now then this is a clear indication that something isn’t quite right.

By hesitating now you’re missing out on the natural economic uplift, or put another way your clients are buying somewhere else, and no amount of marketing will fix the problem. Marketing your way through the problem is like using painkillers to get rid of a problem that only an anti-biotic can do.

 

What’s the solution! How can I build sustainable growth?

It could be that we need to pay a little attention to a few framework models, knowing which slight tweaks to make in your approach to the market will have an instant and profound effect building both revenue and equity something which most business owners overlook. The next thing we focus on with our clients is their distribution, The RBS model impacts a business immediately assisting it to become more valuable and investor ready meaning business owners give away less equity during investment rounds.

 

How do investors choose which businesses to invest in?

Speak to any investment firm right now and they’ll tell you there’s literally an abundance of projects and businesses looking for money but sadly 90% of them fall way short of being investor ready. Right now investors have the pick of the best opportunities in the market and it’s the best opportunities that will attract the investment and capitalise on winning more market share. This inevitably will drive a huge gap between businesses, are you ready to make your Jump?

CIC, although we are a team of Tax advisers, accountants, and employment law and business consultants, our value and specialty is in assisting companies to RETAIN, more of their revenue, BUILD, development models and equity value, meaning they SELL, for more, meaning we have many partnership agreements with other corporate and professional service providers. To become a client or partner of CIC you can engage with us in one of the following ways

Listen to Us on our next Webinar – Speak to us with an initial conversation – Meet us at our next, GETUP Conference Growth, Equity, Tax, Uplift by contacting

0034 922 101 994 or email Pennington@capitalinvestmentcanaries.com

Canary Islands Contact Centre Revolution?

Call Centre Outsource Revolution! Why Contact Centres are Leaving India & Ireland and Heading off to the Canaries?

The past decades have seen call centres compromise on standards by outsourcing places like India, Malaysia and even Bulgaria Europe’s poorest statehttp://ind.pn/1sJ0MSl source The Independent”

Poor states appear to bring poor standards and poor returns as many Call Centres like Santander end up back in the UK. “http://ind.pn/1oOxb2g The Independent”

We’re now seeing a new improved Call Centre destination emerge, one that’s ticking all the boxes and not just for the Shareholders but the employees also.

The Canary Islands is famous for its tourist destinations however there’s a very serious side to the Canaries and in the past 10 years it has re-invested itself to earn the title of “Service Centre Capital Of Europe”

In an interview with Capital Investment Canaries CEO, Christopher Pennington explains the main 5 reasons why Call Centres from the Online Gaming, Advertising and Telecommunications industries are choosing the Canaries as an operational base.

“I find it amazing that most business owners and corporate companies are completely unaware that the Canaries offers arguably the best Tax Rates in Europe to Call Centres and service centre management companies. In the past two years we’ve assisted a number of companies to retain more of their hard earned profits.

  1. An exceptionally low Corporate Tax Rate

The main pull to the Canaries is an incentive called the ZEC (Zona Especial Canarias) the corporate tax rate is just 4%. There is no obligation to invest the funds you simply just pay 4% of the gross profit amount and enjoy the additional savings. With countries like the UK having a main Corporate Tax rate of 21% “quoted by HMRC http://www.hmrc.gov.uk/rates/corp.htmIt’s easy to see why companies would move here when they learn theycan enjoy 75% more of their hard earned profits.

Because ZEC is an onshore incentive it allows dividends to be repatriated to the UK and other jurisdictions without Withholding Tax and FREE from double taxation in the receiving jurisdiction.

  1. World Class Infrastructure and Communications

The largest island in the Canaries is Tenerife. There are two sides to Tenerife; one is the more famous leading year round tourist destination however the Capital City of Santa Cruz is the main area in which companies decide to place their offices due to the infrastructure. Santa Cruz boasts world class communications providing broadband internet connections via fibre optics and one of the world’s largest super computers making it an international hub for telecommunications connecting the Americas Europe and Africa through the A-Lix & NAP at the Data Centre in Granadilla.

  1. Opulent Lifestyle

Santa Cruz de Tenerife like Las Palmas de Gran Canaria, have one of the most opulent lifestyles in Europe. They have more than 300 days per year of spring like sunshine average temperatures of between 15ºC and 25ºC this means a lot less man hours lost due to adverse winter weather conditions that northern European countries have to endure, and due to the weather the lifestyle of living and working in the Canaries moral is much higher meaning less days lost to sickness. The Canaries offers long light nights, and due to the climate the lifestyle is more of an outdoor one compared to other countries.

  1. Access To Talent

There are two Universities in the Canaries providing access to skilled multi-lingual talent to cover a company’s needs from IT to Customer Satisfaction. In addition to the local home grown bi-lingual talent there is a thriving cosmopolitan expat community with just about every language spoken imaginable and unlike the cost of salaries in the UK or even elsewhere in Europe where wages are high, the minimum salary in the Canaries is €700 per month and the average salary for a customer service worker being around €1000 and management around €1500 per month. With more than 176 direct connections to major European Cities daily it’s even the perfect location for staff that wish to relocate and never feel too far from home.

  1. Access to World Class Tactical Advice and Support

On the islands companies like Capital Investment Canaries, who provide Corporate Services and Management Consultancy can take you right through the entire process from Viability to Trading with the first process being a Suitability Study.

CIC have International Clients which include one of the top 5 online sports betting companies globally, an international Movie Production Company, international online advertising agency, and a software development company that supplies the global telco’s in more than 16 countries.

CIC is the only private company that holds official partnership status with the ZEC Consortium and partners closely with the Port Authority, Chamber of Commerce, Government Departments and Public Inward Investment entities.

Our process puts the emphasis on making establishing your base in the Canaries easy, efficient and excellent value.

 

To discover which fiscal incentives best suit your business expansion contact rosana.mesa@capitalinvestmentcanaries.com or call 0034 922 101 994

ACWAS Tenerife & Las Palmas de Gran Canaria

Canarian businessman and Capital Investment Canaries CEO Yarob Tilouni Yosef is of Syrian origin and the owner of a revolutionary patent “micro-filtration system” that purifies waste-water preparing it for reuse in the irrigation of gardens, parks and other uses such as golf courses.
“The quality of the treated water is similar to that of drinking water,” Yarob explained, who is the President of ACWAS, with the redevelopment of the purification of the Commonwealth of the east, whose six filter tanks are your company’s advanced technologies and water treatment Acwas Arinaga polygon.
The system created by Yarob Tilouni is based on the use of a sand bed wash combining the air and water in one or more stages with chemicals to make the filter a chemical reactor which increases efficiency and improves the disinfecting water quality. “This is to drastically reduce the solids content, especially not dissolved organic matter, suspended in the water,” he said.
Created from his experience as CEO of the American multinational DDS Environment after modifying a similar system and has expanded with the addition of clean energy to achieve energy efficiency. Such innovative project has been possible thanks to “very important institutional support, who have believed in our system.” The entrepreneur has enjoyed the cooperation of the Commonwealth South East, General Water of the Canary Islands, the island councils of Aguas de Gran Canaria and Tenerife and autonomous company Balten.
The stainless steel micro continuous washing was patented in 2006 and renovated last year with more improvements. The system has already been installed in 14 municipal sewage treatment plants in three islands, among which are the Southeast, Barranco Seco-Gáldar Guide, The Village, Moya and Telde Hoya del Pozo; Santa Cruz de Tenerife; Corralejo and Puerto del Rosario and Fuerteventura Gran Tarajal.
The company is now active in the West African Region and working with the Brazilian Government on infrastructural projects.

Canary Islands “Service Centre Capital of Europe”

Why is Tenerife being referred to as the Singapore of Europe?
Tenerife of all places has been described as having the potential to be the Singapore of Europe due to its unobvious similarities to the Asian country.

Firstly, unbeknown to most people, Santa Cruz de Tenerife although belonging to Europe has its
own fiscal and economic regime, The “REF”. This system entitles the canaries to special tax privileges placing it into pole position when it comes to transparent advantageous ONSHORE tax havens.
The VAT (IGIC in canaries) is at a significantly lower rate of just 7% compared to other European countries where the rate is double and even triple.
The corporation tax for ZEC registered companies is just 4%! A massive 4-6 times lower than all European countries with the exception of Ireland where the Canarian rate is 3 times lower!

This information, justifiably, earns the attention of Business owners investors and in particular Finance Directors as there is an ever present desire for companies to retain as much of their wealth as possible in a world where “cloud businesses” are becoming ever more prominent.

CIC has assisted companies Owners & Directors from 7 different countries to become more profitable through the benefits in place in the Canary Islands.
Companies that show particular interest are, Online businesses where revenue is obtained virtually, administration businesses, Businesses that sell to international markets and serviced based businesses.

Whilst businesses of any size can register for the ZEC those businesses that already have a tax obligation in excess of €300,000 tend to enjoy the benefits almost instantly.

When directors learn they can pay lower taxes and internationalise their businesses easily due to the level of multi-lingual people living on the islands it’s easy to see why the Canaries isn’t just a strategic logistical place of importance, but is now becoming something of a “sales and service capital of Europe”!

A few years ago this all seemed like a grand idea however with CIC successfully registering ZEC applications on a monthly basis from profitable international companies this grand idea is rapidly becoming an actual reality.

Our latest client decided to legally and transparently reduce their 450,000 Pound tax obligation by moving their customer service and sales centre to Santa Cruz de Tenerife. The decision wasn’t purely made from a fiscal point of view the owner genuinely wanted to enhance their lifestyle and the lifestyle of those wishing to relocate to an all year round stable climate believing that a better balance between work and what is a predominant “outdoor lifestyle” after work would enhance productivity and efficiency.
They also realised the benefit of recruiting a range of the multi lingual people of numerous nationalities, like Poland, Russia, Italy, Germany and the Netherlands, to expand his brand across Europe as the lower personnel cost in the Canaries meant additional savings enabling them to further invest in their culture and business growth.

To learn more about how these benefits can work for you contact christopher.pennington@capitalinvestmentcanaries.com or register for one of our 2 day trade mission and experience the “Service Centre Capital of Europe” for yourself!

Inside the Data Centre, Tenerife’s High Security Government Facility

The Data Centre in Granadilla is a central hub for transatlantic communications and home to Spain’s largest super computer.
I recently visited the facility for a meeting with Director Carlos Suarez to discuss the operational support to Three of Capital Investment Canaries global clients. The combined company Values are in excess of Three Quarters of a Billion Euros and all Three basing themselves in Santa Cruz de Tenerife to enjoy Europe’s lowest onshore corporation tax zone of just 4% but more importantly they’ll enjoy super-fast internet and communications via the fibre optic cables laid around the City.
All Three companies will base their international data management and customer service centre’s in the CIC Business Centre Santa Cruz. I took this opportunity to speak to the Data Centre Director Carlos Suarez to tell us more about the Billion Euro Alix & Data Centre project which is the culmination of years of hard work placing Santa Cruz de Tenerife as the epicentre of international communications connecting, via submarine cables, the Americas, Europe and West Africa.
This project is imperative in order to continue to attract more international companies to move their IT support, Data Management and Customer Service and Sales Centre’s to Tenerife. It will rapidly place Tenerife as the “Service Centre Capital of Europe” allowing companies to enjoy high speed communications traffic, a competitive multilingual workforce, Just 4% corporation tax and local VAT rates of just 7%.
The Tenerife Cabildo (Island Government) Canarian Regional Government and the ZEC consortium have worked diligently to deliver the message to the commercial world, at a strategic level, the advantages and opulent lifestyle to be enjoyed by basing themselves on the island of eternal spring. With Corporate Service Providers like Capital Investment Canaries providing tactical support for the inward investing companies, it appears to be a winning combination, ensuring their operations remain efficient profitable and enabling them to sidestep the sometimes archaic Spanish bureaucratic system.

To learn more about the opportunities in the Canaries you can register for one of Capital Investment Canaries Trade Missions held every 6-8 weeks in Santa Cruz de Tenerife, and discover first hand exactly how you can combine lifestyle with wealth retaining fiscal advantages.
Capital Investment Canaries Trade Missions are hosted and delivered by CIC Directors and partners including, Tenerife Cabildo, Why Tenerife, ZEC Consortium, Gobierno de Canarias, Ayuntamiento de Santa Cruz, Duetsche Bank, MAPFRE, Iter, ALIX Project & Data Centre and Grand Hotel Mencey.

for more information call 0034 922 101 994 or email cedric.laurent@capitalinvestmentcanaries.com

Santa Cruz de Tenerife – Top 5 places to live in the World

WHY TENERIFE?

What’s going for it? Yes, Tenerife. But not that Tenerife. As if. No, this is The Other Tenerife. The capital bears no relation to the island more familiar to Brits. Turn a few corners on the coast road and it’s like, well, Spain. Santa Cruz is magnificently, sexily exotic. Its neighbourhoods mostly date from the 1890s to the 1930s, all pastels and gin slings, though the long-lost recent economic boom has left its mark, too, with a new art gallery and public square by architects Herzog & De Meuron, and the obligatory “thing” (Is it a bird? Is it a plane?) by Santiago Calatrava. The tourist-free city is big enough not to be dull, small enough to be manageable – about the size of Leicester, only, alas, without its charms, although Santa Cruz does have bright placitas filled with orange trees and dark, drowsy coffee bars full of old men playing dominos, as well as a brilliant food market,Nuestra Señora de Africa. And when it all gets too much, there’s a series of great beaches (the Las Teresitasbeing perhaps the best), a great coastline for swooning driving, and mountains for hiking.

The case against People might actually think you’ve moved to Tenerife. As if. It can be our secret.

Well connected? You’d walk, wouldn’t you, with weather like this?

Hang out at… Café Numancia for a fresh-pressed naranja watching the parklife. Then Café del Principe for an ice-cold coffee. Then maybe El Contemporáneo bar for a sundowner. Then to Calle Antonio Dominguez Alfonso in Noria for nightcaps. Oops, a day gone.

Article written and published by “The Guardian.com”

CORPORATION TAX 4% VAT 7% NO DOUBLE TAXATION, FREEDOM OF MOVEMENT OF FUNDS… WHY TENERIFE IS BECOMING THE SERVICE CENTRE CAPITAL OF EUROPE!

For more information about this transparent European Commission backed ONSHORE tax haven contact christopher.pennington@capitalinvestmentcanaries.com

or call 0034 922 280 228

“Question Time” New President invites local media

On November 20th 2013 the New President of the Cabildo de Tenerife (Island Government) invited the international speaking media and inward investment companies to an open meeting in Santa Cruz.

President Carlos Alonso welcomed all, then gave a brief summary of his first two months in office and the challenges to be tackled head on. He openly invited questions from the attendees without knowing what was going to be fired at him, a clear demonstration of the transparency in which he likes to lead and in an attempt to build stronger bridges with the international media.

The Cabildo’s success in reducing its debt was highlighted, one of the few public institutions in Spain to do so. This has resulted in the early implementation of the Cabildo’s investment plans and projects. The total debt reduction, €110 million in 2013 & an estimated €50 million in 2014 is proof that Tenerife’s economy is well on the way to recovery, in a time when many regions of Spain have increased their debts. Clearly the President’s Economic background will keep Tenerife on the right track.

Some of the projects we can expect to receive funding, are the long awaited Hospital at El Mojon which will open by October 2014 providing Outpatients, specialities like mental health, radiology, emergencies, rehabilitation and traumatology for example. Work at El Mojón starts this month “December 2013”.

Additionaly the Puerto de la Cruz improvement plans, for a new marina and maritime park scheme, will receive financial assistance in support of the private developer. Before the end of 2013 the project will be presented, and the concession awarded at the beginning of 2014.

News that Tenerife is included in the European Transport Network which has funds for sea and air transport plus funding for the north-south train project was well received. This will assist Tenerife to be a feeder port for non-EU goods into the EU, which is expected to generate significant commercial opportunities and employment through the Free Trade Zones.

Following on from this it was stated that 7 out of 10 cruise visitors return to Tenerife, placing specialised tourism high on the Cabildo’s agenda. The Cabildo are working with the Port Authority and town hall to improve the inland infrastructure in Santa Cruz extending the area from the ocean to the lake in Plaza de España., With exciting projects for a yacht marina, hotel, shopping centre and a new tunnel for port traffic, in this zone.

Of course there couldn’t have been a meeting without the subject of All inclusive hotels being raised.

A question was fired at the New President regarding the closures of bars restaurants causing other businesses that survive off this trade to struggle as a direct result of AI’s. When asked if Mr Alonso was happy with the balance between AI’s and other accommodation options He responded, “I won’t make responses based on what I think… I observe the facts to form my opinion and to see if we do in fact have balance. The facts tell us that 13% of total British visitors decide to select an all-inclusive option, they do this based in their own country and via the tour operator they finally decide to book their holiday with. The Tour operators offer this product in Tenerife because of customer demand, and Tenerife offers selection and diversity in order to ensure we welcome all tourists regardless of their preference”.

Finally the conversation turned to Tenerife’s strategic vision positioning itself as the “Service Centre Capital of Europe”.

“Why Tenerife” the initiative set in motion by the New President whilst He was the Vice President, is catching the attention of a completely different type of visitor.

SME’s, Business owners, and International companies looking for a European headquarters are opting for Tenerife due to the unique fiscal advantages.

With sales Tax (VAT) at a low rate of 7% and Corporation tax being just 4% it’s easy to see why business people are opting to combine the fiscal advantages with the incredible lifestyle option the Canaries has to offer.

Tenerife is continually investing in its commercial infrastructure, with the brand new super computer operational in the Data Centre “D-Alix” Granadilla, and daily air connections with European cities for economic promotion and to attract investment. Supported tactically by Inward Investment Specialists like Capital Investment Canaries (Official contracted partners of the ZEC Consortium) we are seeing a realisation of this vision.

Todate these incentives, combined with the lifestyle and constant climate, has attracted a number of Hollywood productions, global IT giants Atos and 600 other international companies in the past few years. With the raising of taxes globally this trend is only expected to increase as the closure of fiscal paradises will cause business owners and investors to look for transparent onshore options like the Canaries.

Chris Gerry & Carlos sm

CIC Chairman Gerald Ruben, President Carlos Alonso, CIC Director Christopher Pennington.

Cabildo web: www.tenerife.es

Turismo web: www.webtenerifeuk.co.uk