Like the rest of Spain, Gran Canaria is part of the European Union and the Euro Zone. Consequently, its currency is the euro and it participates in the Single European Market, including its customs regulations; however, the Canarian Economic and Fiscal Regime (REF) enables Gran Canaria to offer significant fiscal and economic incentives that represent a real attraction to foreign investors.
While the Spanish Tax System is applied to Gran Canaria, the island’s “special status” within the European Union permits it to have reduced direct and indirect taxation as well as various fiscal incentives and economic aid for business investment.
As a result, the economic instruments allow that a large amount of companies benefit in the operations from incentives such as the Special Canary Zone (ZEC), which gives of the Canary Islands the most attractive tax incentive in the European Union, establishing a Corporate Income Tax rate of 4%, in comparison to the European average, which is 25%-30%, and the Free Trade Zone of Gran Canaria, which offer customs and tax advantages, offering both instruments the most legal certainty."
Historically, it can be observed a more than outstanding growth in the attraction and issue of net investment in the Canary Islands as compared with other Autonomous Communities in Spain, of which can be highlighted the more than 3,400 million euro of gross foreign investment received during the period 2005-2011.
For its condition as an Ultraperipheric Region (RUP), the Canary Islands have access to funds and economic instruments specific in Spain and in the European Union which benefit the economic and social development of the which covers also safety in economic, food, health, environmental, individual, politic and social areas, of great importance for foreign investments.
The existence of a highest level of safety favours commerce, stability and the economic development of the island. On the island we can find the institutional headquarter "La Casa de Africa" ("The House of Africa"), as a tool for public diplomacy, on duty for the State ́s external actions, as well as the representation of the Executive Committee of the Advisory Council for the Trade with Occidental Africa aka CAPCAO, and the presence of 40 consulates."
Canary Islands Special Zone (ZEC). A low Corporation Tax Zone (4%) that promotes the establishment of new businesses, conditional upon minimum levels of investment and job creation.
Visit ZEC for updated information on taxation in Gran Canaria.
Our latest investment report on Kuwait was recently published in one of the leading Spanish dailies, ABC. FindMe in Kuwait explores the economic perspectives of Kuwait and the country´s future plans to compete with its fast developing neighbours. Once the leading country of the Gulf, Kuwait has remained silent for the past decade. And although many would like to see faster changes, Kuwait is moving, at its pace, to them. Inexorably. Learn about who is who in Kuwait and read what the leaders say about their own future in our upcoming release: FindMe in Kuwait Mobile app.
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Global Gulf Consulting has concluded its latest production on Bahrain, FindMe in Bahrain giving the country a fresh approach after a couple of difficult years of local demonstrations that matched the global recession. Bahrain is a small island in the Arabian Gulf with an incredible potential for logistics, industries and tourism. FindMe in Bahrain was supported by both the public and private sector of Bahrain. Banagas, Nass Corporation, BBK and DHL were GGC strategic partners in the development of the series among others.
FindMe in Bahrain is available at the local bookstores Jashamal and online as well as in the Apple Store. It is a full business leisure and business guide for any investor or visitor interested in traveling to Bahrain or for those that already live there.
FindMe in Saudi offers a multi-faceted overview combining business and leisure, economy and heritage. The book aims to capture the current development of Saudi Arabia in the words of the people who live and work there. It is an authoritative source of information for investors, businessmen and travellers produced to firmly position KSA as an attractive investment destination.
In contains general information about the country´ economic performance and who is who as a sectorial overview and a leisure guide.
They are talking about us. Read what the media is saying about GCC and its publications.
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