Gran Canaria is one of the islands that form part of the Canary Islands, an Autonomous Community belonging to the Spanish State and consequently, also to the European Union.

As it is a fully integrated territory, the applicable legal regime is Spanish and European.
Additionally, it has its own Economic and Fiscal Regime, fully compatible with European regulations, thanks to which it is possible to benefit from reduced taxation on business profits and consumption, as well as access to other incentives for business investment.

Fiscal Incentives for Companies

Canary Islands Special Zone (ZEC).
Companies established in the ZEC benefit from a reduced 4% corporate tax rate. This option is particularly attractive for investors from third countries as there is no withholding tax on the repatriation of dividends or payment of interests to their parent companies.

Fiscal deduction for the production of material goods.
This incentive offers a 50% reduction in corporate tax applicable to companies producing agricultural, livestock, fishing, and industrial goods.

Canary Islands Investment Reserve (RIC).
With this incentive, the tax burden on business profits can be reduced by up to 90%, provided certain investments linked to the company's growth are made.

Deduction for investments in fixed assets.
This entails a reduction in corporate tax equivalent to 25% of the amount allocated to the acquisition of fixed assets.

Deductions for investments in R&D and audiovisual productions:

• R&D and Technological Innovation, from 45% to 75%
• National and international audiovisual productions: 40 – 45%

Gran Canaria Free Trade Zone.
In this zone, goods can be stored, transformed, and manipulated for an unlimited period of time without having to pay any import duties or taxes.

Consumption Taxation

Canary Islands General Indirect Tax (IGIC).
A tax similar to VAT but specific to the Canary Islands, with significantly lower tax burdens. Its general rate is 7%.

Special Taxes.
Taxes on alcoholic beverages, tobacco, fuels, and certain modes of transport are significantly lower than those in the rest of the European Union.

Investment Aid

Business investments made in Gran Canaria may benefit from national and regional grants and other financial instruments aimed at financing productive investment, R&D, environmental improvement, training, and staff recruitment.