Europe’s Biggest Business Secret,
Since the year 2000, this European location has attracted international businesses like Kinross, Rolls Royce Marine and AtoS, in addition to fast-growing digital businesses with global ambitions.
This location has, the same time zone as the UK, Euro currency, Spanish & English is widely spoken, and boasts daily direct flight to many EU cities.
It has a young, educated, bilingual workforce, yet the biggest secret is… It boasts the Lowest “Onshore” Corporate Tax Rate in Europe, just 4%!!!
The location? The Canary Islands…
The Canaries are hugely popular with Nomads, Digital Entrepreneurs and becoming home to more corporates, particularly those interested in the African market.
Prolific for branding themselves as a year-round paradise for tourists, The Canaries have seen more than 400 companies register for their special tax incentive since the year 2000.
Basing themselves away from the tourist culture, international companies tend to reside in the Cities of Las Palmas de Gran Canaria and Santa Cruz de Tenerife.
If you’re asking yourself why you haven’t heard of these tax incentives before, it’s largely because they’re legally backed “Onshore EU Tax Incentives”!
Unlike seedy offshore tax havens, that so often grab the headlines, the Canary Islands offers, political, financial, and social stability combined with world class communications infrastructure and logistical connectivity.
British Airways in-flight Magazine recently spoke with CIC Founder, Christopher Pennington, to discover “why fast-growing companies are gravitating to the islands”?
“CIC has helped small, 5 people entrepreneurial businesses, to 50+ people companies, establish a base for international expansion in the Canaries. Business Owners benefit from CIC’s unique understanding of how to best apply credible EU Tax Incentives like the ZEC (Zona Especial Canarias).
One huge draw being, companies remain onshore, enjoying an 80% reduction in corporate tax! From 20% to 4%. Due to Spain’s expansive network of international tax treaties there’s no need to hide profits! Experienced CFO’s know these components allow them to enjoy the full and unrestricted movement of funds free from withholding tax.
Clients use the tax saving to, fuel growth often resulting in increased headcount. Others work with our Corporate Finance Team, in London, to accelerate the equity value of their companies in preparation for a higher IPO or exit value. Profit x Multiple: P x M =?
Equally, due to the diversity of the islands, combined with the fiscal incentives, some of our more entrepreneurial clients simply base themselves here for lifestyle reasons”.
If you want to find out if your company or Intellectual Property would be better positioned in the Canary Islands please contact;
T: +34 674 136 977