Special Zone (ZEC)

The Canary Islands Special Zone (ZEC) is a low tax zone created within the framework of the Economic and Fiscal Regime for the Canary Islands (REF) for the purpose of promoting the region’s economic and social development and diversifying its productive structure.
The ZEC was authorised by the European Commission in January 2000 and extended until December 2006. Currently, it is possible to benefit from the ZEC until 31st December 2019, extendable prior authorization by the European Commission.  Authorisation for inclusion in the Official Registry of ZEC Entities is provisionally limited to 31st December 2013.
One of its advantages is the very low tax rate for Corporate Income Tax—between 1% and 5%.
For inclusion in the ZEC, the following two requirements must be met:
• Create 5 work posts in the first six months of activity
• Invest at least 100,000 Euro in a two-year period

Further information:
Web page: http://www.zec.org/
Email: zec@zec.org