Canarias as the Premier Hub for Shared Services and Outsourcing (SS&O)
The trend of outsourcing "non-essential" business functions and processes is rapidly gaining momentum, coinciding with Business Services evolving into a more globally focused and specialized sector.
Opting for near-shoring in Canarias provides numerous advantages for outsourcing companies from the Iberian Peninsula, as well as for international service centers and the headquarters of major consulting firms operating in Southern Europe. These advantages span from the legal assurance derived from full integration into the European Union to the attractive 4% corporate tax rate offered by the Canarian Special Zone (ZEC).
Canarias not only ensures cost competitiveness but also leverages generous tax exemptions sanctioned by the European Union. With the lowest tax rates in Europe, including a 4% corporate tax rate and a 7% VAT, the Canary Islands offer a favorable fiscal environment. Additionally, the workforce is characterized by talent and multidisciplinary expertise, enriched by experience in multicultural environments and a strong customer-centric focus.
The models of shared services and outsourcing empower organizations to establish a presence in Canarias, enabling them to compete more effectively by entrusting their daily operations to an efficient and profitable service provider. Companies embracing SS&O in the Canary Islands benefit from operating within a cosmopolitan environment while enjoying the legal certainty associated with a European country.
Key Highlights:
- Multilingual workforce.
- Exceptional Internet connectivity with high-speed fiber optics covering more than 90% of the territory.
- Shared time zone with the UK and adherence to the same legal system as the European Union.
- Government-sponsored grants for technological training with a commitment to subsequent hiring.
- Excellent connectivity with major Spanish and European cities and West Africa, featuring over 1800 weekly direct flights to other parts of Spain, around 600 to the UK, 400 to Germany, and over 40 to the African continent.
- The lowest labor turnover rate in Spain.
- Diverse resident communities representing most European countries.
- Presence of 7 Canarian universities.
Benefits from locating in the Canary Islands
