Canaries

CanarianLawyers intends to solve court and tax issues arising from the most Southern Spanish location and the most Western area in the European continent, making up Canary Islands. This group of islands has a tax and court particularity series that makes it different from the rest of Spain and Europe. This is due to distance from mainland and continent, and a featuring and particular distinctive tax and economic policy that provide benefit for many investors who may be interested in establishing and organizing their business in this privileged area. For instance, islands are offering a favorable regulation on some taxes that are more taxable in the rest of Spain and peninsular territory. Canarian residents have been thus entitled to a 99.9% bonus on Donation and Inheritance Tax since 2008, provided that event occurs within family environment and complies with requirements set forth by the law.

Spain joining to European Union caused Canary Islands Special Zone (Zona Especial Canaria – ZEC, per its abbreviations in Spanish) creation in 1994. This is the most beneficial special tax area in the European Union that intends to mitigate Canaries insular and outlying nature regarding Europe. For that reason, tax advantages and benefits are established for companies settling within Canarian territory and offering services from islands. Area features this way as an incomparable typical framework to organize companies which purposes are operating in three continents (Europe, America, and Africa) and offering at the same time legal security.