The weather in Tenerife is one of the main attractions as many locations are affected by extremes of temperature, high levels of humidity and tropical storms, whereas Tenerife has one of the best climates in the world with average temperatures ranging between 23°C (73°F) and 28°C (82°F) and no hurricanes or earthquakes!
Access to International MarketsA
Historically and culturally, they are very much connected to Latin America and have important commercial and institutional ties to West Africa. The Canarian Archipelago is located in the Atlantic Ocean, as a strategic enclave between three continents: Europe, Africa and America. It is located approximately 1,000 kilometers from mainland Spain and just 100 km off the coast of West Africa.
Access to Attractive Tax IncentivesA
The Canary Islands historically benefit from different and stable economic and fiscal treatment in order to compensate for the effect of its insularity and remoteness. The Canary Islands historically benefit from different and stable economic and fiscal treatment in order to compensate for the effect of its insularity and remoteness. Thus, they have their own Economic and Fiscal Scheme (REF),Law 19/1994 on the Economic and Fiscal Scheme of the Canary Islands, subject to Spanish law and fully authorized by the EU. The REF includes a series of tax incentives related to creating and developing business, some of the most outstanding of which are: The Canary Islands Special Zone (ZEC),to which a 4% Business Tax applies (instead of the 30% under the General Scheme). The Canary Islands Special Zone (ZEC) is a zone with a low tax rate that was created as part of the Canary Islands Economic and Fiscal Scheme (REF) for the purpose of promoting the economic and social development of the Archipelago and diversifying its productive structure. The ZEC includes: Business Tax ZEC Entities are subject to the current Business Tax in effect in Spain at a rate of 4% Double taxation agreements, parent-affiliate directive and non-resident income tax The Canary Islands form part of the Spanish and EU territory. Maximum legal security Repatriation of dividends without restraint Exemption from taxation in the Transfer Tax and Stamp Duty. Exemption from Canarian General Indirect Tax (IGIC) (equivalent to VAT) for deliveries of goods and services between ZEC and imports The Reserve for Investments in the Canary Islands (RIC)allows for a reduction of up to 90% of undistributed profits on the Business Tax base. Exemption from the Tax on Property Transfers and Documented Legal Actsfor the constitution, expansion and acquisition of investment assets. VAT (I.G.I.C.)-7%.
Access to Human Capital and TechnologiesA
With the highest rate of post-graduates, our human resources is a growing productive factor. There are two public universities where more than half of their students are enrolled in technical-scientific studies, applied research centers of excellence and ambitious public training programs that perfectly adapt to companies’ needs as well as several bilingual schools.
Member of EUA
Secured political situation (member of EU)
Ideal bank mortgage conditionsA
Mortgage up to 60% for non-residents; 4,5-5,5% interests
Property rentals all over the year. Return on Investments in Luxury sector: rentals – 6-10%, purchase- up to 7%
Developed infrastructure : airports, camping, highway, sea ferry to Europe and other islands, conference halls, medical centers.
Sport and leisureA
Splendid leisure and sport facilities: volcano Teide, LoroPark , Professional Sport Center T3 (4 Football camps, swimming-pool 50X25, beach volley, tennis, squash, triatlón, FINA &FIFA standards ), Teide Observatory, Antropology Museum, Carnaval ( second world famous after the brasilian ), Siampark- one of the largest water parks in Europe), sport facilities: surfing, golf, carting, hourse-riding, diving, fishing, etc.