About Gran Canaria

The island of Gran Canaria is formed by 21 municipalities. Here you can find a great diversity of landscapes, historic venues and different microclimates. The great quality of life of its inhabitants, a Spring climate all year round and a modern transport and telecommunications infrastructure make Gran Canaria one of the main tourist destinations in Europe. Furthermore, due to its geographical isolation and distance from Europe, it has a special economic and tax system with many advantages for investors.

Gran Canaria is located in a strategic manner between three continents (Europe, Africa and America) which has served as a bridge of unity and scale required in business relationships with other countries.

We have a large port and airport infrastructure, in which every day more is being invested.

Gran Canaria Airport is one of the most modern in Spain and among the busiest in Europe, with huge daily air traffic which helps both tourism development and commercial relations with other countries.

For these and many other reasons Gran Canaria is the right place for relaxation, vacation and/or business.

The island is considered a major theme park where centuries of history, natural beauty spots and many attractive opportunities to enjoy entertainment and leisure are combined. You only need to perform an intense tour of 21 towns and cities on the island to realize the diversity of landscapes, cultural traditions and microclimates that Gran Canaria offers its visitors in every corner.

Discover why Gran Canaria is not just a privileged place as a tourist destination. As an investor you will also have unique advantages.

The many tourist attractions in Gran Canaria, plus an excellent support system for business investment, make it an ideal destination for the development of projects and investments.

The Canary Islands, part of the European Union, enjoys one of the most favorable economic and fiscal regimes existing in Europe, as compensation for their remoteness and insularity, which make it an extremely attractive area for investment, with a range of incentives primarily targeted to investment promotion, placing the average tax rate of business taxation at only 6%.

The islands have an Economic and special and differential Fiscal Regime (REF) from the rest of Spain and the EU, the bases of which are inspired by the free trade arrangements in franchising consumption and lower indirect tax burden established in the Canary Islands from the century XIX and are currently aimed at generating investment decisions and socially respond to the modernization of the productive and commercial appliance.

Among the measures to support investment we must emphasize the following:

  • ZEC: offshore zone with tax rates between 1% and 5%
  • Canary Investment Reserve: exemption of up to 90% in corporation tax for reinvestment of these funds in entrepreneurial activities.
  • Reduced indirect tax (IGIC): 7%. No application of VAT or IVA.
  • Tariff exemptions, subsidies on imports of food, various exemptions related to making investments, government incentives for investment projects, etc..

The Island has taken advantage of this prime intersection of oceanic routes to promote trade with these continents already become traditional export markets and import. As a result he has developed port infrastructure that allow placing its main port , La Luz and Las Palmas, a pointer level in the world in container traffic and fishing, also highlighting the existence of a free zone in its interior.

Also remarkable is the breadth of the technology offer, which covers most of the needs of the business in a number of areas such as renewable energy and environment, biotechnology, information technology, telecommunications , medical technology, etc.. In this sense, we must make special mention of the University of Las Palmas de Gran Canaria, mainly oriented technical courses, and the high level of R & D in renewable energy, water purification and desalination reached on the island disciplines which has become one of the leading exporters of knowledge and techniques.

In this line, thanks to the development of the said University , Gran Canaria has registered the creation of a wide range of graduates , especially in the field of technical careers , ensuring the availability of manpower highest rating .

Thus, Gran Canaria offers great business opportunities and advantageous economic and fiscal investment incentives. The high quality of life enjoyed by its residents with a spring climate all year round , with modern transport and telecommunications infrastructure and the high qualification of its human capital , located at Gran Canaria as a privileged destination for European development investment and new businesses.

10 Reasons to Invest in Gran Canaria

1. A unique natural conditions

The rich and varied vegetation of the island and the beautiful landscapes are one of the main attractions . Not only is the favorite resort of the citizens of the European Union, but the luxurious environment for its residents , as it allows the perfect combination of business with the best options for leisure and relaxation.

2. Favorable strategic location

Gran Canaria has strengthened its strategic position as a logistics platform for trade between three continents (Europe , Africa and America) through the free zone of Gran Canaria. This space has bounded 326,000 m² dedicated to logistical business operations , which have important customs and tax benefits.

3. Stable political framework

Canary capacity to manage health and educational services make it one of the most autonomous state competence ceiling , which is guaranteed through the funding system of the Autonomous Communities itself reinforced by a special tax system.

The most prestigious international rating agencies have rated the credit quality of the Canarian regional currency debt with the same rating to Spain ( the maximum attainable by an Autonomous Community).

4. Local growing market

Gran Canaria recorded a figure of 789,908 inhabitants over an area of 1,560 km ² . We are , therefore, facing one of the most densely populated areas of Spanish territory. If we add to this circumstance the high tourist occupancy rate throughout the year , in 2003 we reached the number of 2,865,475 visitors, the potential market for companies based on the island is far higher than those in other regions.

5. Competitive workforce

Gran Canaria is a young island. 43.65% of its population is under 30 . It has considerable potential aimed at training the workforce through an extensive network of primary and secondary schools as well as at the University . Also on professional qualifications include advanced industrial and service sectors. On the island also is widespread use of English and German.

6. Excellent service and communication infrastructure

• The Port of Las Palmas, the largest port in the Canary Islands, processed more than one million TEUs (twenty foot equivalent unit) of containers in 2004.

• For Gran Canaria Airport passed over 9.4 million passengers and 40,934 tons of cargo in 2004.

• Canary is one of the places with the greatest confluence of submarine telecommunication cables in the world.

7. Leading technological research

There are excellent universities and public research organizations that carry out intensive R + D + I in such diverse areas as microelectronics , aquaculture and renewable energy .

The degree of development of information society is huge, due to economic and institutional support provided by the competent authorities in the development of specific programs.

8. Reduced tax burden

Canary has historically enjoyed economic and differential tax treatment

 

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