The canaries are an EU tax haven, although not in the traditional sense: this jurisdiction, part of Spain, makes available many tools for tax planning of known companies. First, the Canaries tax system is easier and with lesser tax burden than other European countries, fully legal and authorized by European Commission. As peripherical territory of EU, in fact, in the Canaries a special tax system is operative that enables to benefit from a low VAT rate, as well as more favorable taxes than Spanish territory, where some tax news have been introduced, but incomparable.

BSD service: Paradisi fiscali, conti esteri e apertura società all'estero

The Canary Islands are thus a tax haven, fully legal in terms of tax advantages, mainly for the so called ZEC, a norm providing great exemptions for those who wish to open an offshore company, according to law requirements. In order to take advantage from legal instruments in force to support our company, especially for taxes or liquidation, it’s necessary to rely on a team of professionals, able to guarantee a perfect management of our interests, avoiding tax evasion.

By the correct application of the most favorable norms, it’s possible to get a sort of tax shield useful to shelter from high rates, with no restriction imposed by black list or similar measures that oppose the abuse of legislation considered harmful for hair competition principles. The negative definition of Canaries as tax haven is surely wrong: instead, it’s a very advantageous tax system, if compared to other countries, to the extent it could seem a kind of entrepreneurship grants.

BSD Service: paradiso fiscale conto corrente estero, società offshore

Canaries Islands are a tax haven, that after all benefit from their belongingness to EU. For this, their tax system is unassailable. In this way, Canaries can regain a competitive advantage, overcoming the difficulties arising from their geographical position. Canaries taxation renders your business more competitive, with no concern for black list or other ways of retorsion, benefitting from a very competitive tax system also on international level, in comparison with other jurisdictions. To avoid mistakes in the planning of your activity, that could compromise the possibility of fully benefitting from competitive advantages given by taxation in Canaries, consult our professionals for optimizing your business. Are you willing to know if Canaries are a tax haven? Are you willing to make investments over there? Call us soon for a consultation.