We amass extensive experience dealing with foreign investment in the Canaries: be it a business acquisition (M&A), the setting up of a company (Corporate law), a distressed asset purchase (Bankruptcy, Bank Law) or buying a second property for your retirement, our firm will be your legal companion in this Archipelago.
With an extensive portfolio of national and international clients, our firm has a long history of providing comprehensive advice and resolving judicial and extrajudicial conflicts.
We believe in excellence, creativity, innovation and teamwork as the means to honestly develop our vocation, the practice of business law, guaranteeing our clients optimal legal protection and the best defence of their interests.
An EU aproved Tax haven: ZEC
The Canary Islands Special Zone (ZEC) is a low tax zone created within the framework of the Canary Islands Economic and Tax Regime (REF) that was authorized by the European Commission in January 2000 and it is regulated in the Law number 19/94 of the 6th of July, 1994.
Any business or branch which intends to carry out an industrial, commercial or service activity included in the list of authorized activities can be established within the ZEC and may benefit from these tax bonuses:
- 4% corporate tax rate, down from average European rate of 20%.
- No withholding of dividends or interests paid to foreign owners/parent companies.
- No V.A.T for the import of goods or the utter transfer of goods within the ZEC.
- Exemption from other direct taxes, like that applicable to the acquisition of goods and rights, corporate operations (increase on capital, etc..) and legal acts.
Easily the best tax regime in Europe, the ZEC is placed in a territory with first-tier ports and airports, excellent IT infrastructure, it is no surprise that has become a hub for companies and branches that wish to establish themselves here and produce and service Europe and Africa. The fact that Canary Islands boasts one of the best climates and quality of life in Europe is a surplus for a young, cosmopolitan workforce.
Tell us your business project and we will guide you through the legal path to enjoying this outstanding tax regime.
What exactly is the ZEC? The Canary Islands Special Zone or ZEC is a low tax zone approved by the EU, included in Law 19/1994 of July 6, modifying the Economic and Fiscal Regime of the Canary Islands, which aims to promote economic development in the islands. In the...
1. Verifying its situation in the Registry. Once you have selected the property you would like to purchase, the first step is verifying its situation at the Property Registry, that is, checking if its free of any liens (foreclosure, mortgage, etc.). Some of these...
New measures to relieve the effects of the crisis derived from Covid-19: Decree Law 2/2021, of march 1, of the Government of the Canary Islands
As has been customary since the declaration of the state of alarm caused by the Covid-19 health crisis and given the adverse effects this situation has struck on the economic activity, the legal authorities are trying to mitigate such effects by granting diverse types...