The best taxation in Europe – Enjoy the benefits of establishing your business on the Canary Islands – especial business opportunities for Norwegian Companies

Why the Canary Islands?

Due to their geographical location, the Canary Islands are an excellent commercial and logistic transference platform between the three continents Europe, Africa and Latin America, as they are linked to the main international commercial routes. This circumstance allows investors to run strategic projects in the three continents, operating from the Canary Islands and enjoying the proper physical legal security of a company based in Europe.

Another big advantage of the operation on the Canary Islands is the taxation. Due to the distinctive feature of its economic system, operated by the Economic and Tax Regime of the Canary Islands (REF), they offer the most attractive tax incentive of the European framework: a fixed corporate income tax rate of 4% compared to the European average of 23%.

Furthermore the Canary Islands are showing a strong interest in cooperation with Norwegian companies and investors, particularly in the renewable energies sector because of the ideal conditions the Archipelago of Canary Island can offer. The Archipelago is able to provide perfect conditions for being used as a testing laboratory for the development of technologies in several sectors, like e.g. the exploitation of marine energy or blue biotechnology. The Island has a very good infrastructure and there exist very good flight connections between Norway and the Archipelago.

Image: Innovation Norway Madrid

Image: Innovation Norway Madrid

In order to promote these incentives, the Canary Islands Special Zone (ZEC) and the Canary Islands Economic Promotion Society (PROEXCA) have travelled to Norway in order to hold B2B meetings with local investors who are considering to set up on the Canary Islands.

Moreover the Innovation Norway office in Madrid has a broad network and a broad range of very useful contacts. Additionally they just have signed a contract of cooperation with PROEXCA in order to be able to provide Norwegian companies which are interested in an establishment on the Canary Islands the best possibilities for matchmaking.

For further information: http://www.zec.org/en/; http://www.proexca.es/

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