Why form a company in the Canary Islands over Spain?
CIC makes setting up a company in the Canary Islands is quick simple and cost effective. Due to the lower tax rates than Spain, the Canaries offers a more viable profitable option for conducting business across the Euro Zone. The Canaries share the same timezone as London and a limited company in the Canaries costs less than €2000, including disbursements and all offical registrations.
Due to being onshore and the stable political and financial framework offered by Spain and the EU, obtaining a bank account for the Company and Directors is a given. Unlike other EU areas the formal processing of the paperwork by official government organisations takes slightly longer, however, from the point of signing to trading is historically less than 4 weeks.
Unlike tax havens Standard Accounting Practices are obligatory in the Canary Islands, the benefit being, owners of businesses benefits from all Tax Treaties and Bi-lateral agreements signed with Spain, meaning no need to hide your profits at lower tax rates plus enabling free movement of funds free from double taxation.
Since the Brexit vote we’ve seen more small UK business owners set up companies in the Canary Islands as a vehicle to continue to service their EU clients, protecting both their company revenues and UK jobs of the parent companies.
To find out how to incorporate your company please contact: email@example.com or call +34 608 291 189