There are many reasons why the Canary Islands are considered a top Foreign Direct Investment destination for a wide range of businesses. One of the most important opportunities they offer is the attractive ecosystem, ideal for tech companies. The Canary Islands´ strategic location, just 60 miles from the African coast, make them a perfect platform for companies looking to take part in the tech revolution going on in West African countries.
The Canary Islands have the world´s best refundable incentive for R&D, for example in Technology Innovation activities, which means an annual 45% cost reduction. What´s more, the Canary Islands are the region in Europe with the lowest corporate tax rate ( 4%). These tax breaks are fully approved by the European Comission, which applies double taxation conventions as well as fiscal transparency.
Along with their strategic positioning and their generous tax breaks, the Canary Islands have quality infrastructure and the latest telecommunications technology. They also have a highly qualified workforce enriched by the knowledge, experience and multiculturalism of proffesionals from around the world who move to the Islands, especially as the Canary Islands are constantly ranked as a top destination for digital nomads.
In the middle of everywhere and globally connected
Get access to any global market from the Canary Islands strategic position, located in the Mid-Atlantic, close to Africa, close to Europe and on the main transoceanic shipping routes to America. International companies doing business in the Canary Islands have access with direct flights to most of the European cities and in Africa, which ensures quick and total connectivity for personnel and equipment.
However, the most important aspect for any tech business operating in the digital world, and looking to set up in a new market, is the technological infrastructure available. The Canary Islands have state of the art infrastructure, guaranteeing total reliability. These are some of the assets at their disposal: Submarine fiber-optic cable connections with EU, Africa and America, 50 satellites provide communication services in the Canary Islands, D-ALIX project, a bridge linking Africa with Europe and America
Benefits from locating in the Canary Islands
Discover the current business advantages in the Canary Islands