There are numerous advantages for those who decide to do business in Fuerteventura: a strategic geographical location, proximity to the emerging markets of West Africa, tax benefits, and excellent maritime and air connections worldwide. Additionally, there is a strong economic resurgence, excellent infrastructure ensuring rapid and efficient transit of people and goods, and a continuously expanding service network. Not to mention the year-round mild climate, which continuously attracts tourists and travelers. Manage a company is cheaper, with VAT capped at a maximum of 7%, and tax imposition around 25%. Furthermore, despite enjoying many tax benefits, the Canary Islands do not fall under the so-called “tax havens” and are therefore outside the infamous “Black List” that causes numerous problems for entrepreneurs and investors. Everything is legal and aboveboard.
Fuerteventura and the Canary Islands have been declared by the Spanish government as special status zones to facilitate their economic development. This allows you to obtain very interesting tax breaks for those who want to invest here by opening businesses or companies. The tax regime of the Canary Islands offers companies that choose to operate in certain economic sectors the possibility of benefiting from a super-preferential taxation with a tax rate of 4%.
We are therefore talking about one of the most advantageous tax regimes in Europe. The Canary Islands, despite being an integral part of Europe, are considered extraterritorial for VAT purposes, so companies based in the Archipelago that operate in trade can buy goods from other countries of the European Community without paying VAT.
