US & UK Companies, Choose Canary Islands for EU & West Africa Base!
As an emerging market, West Africa offers many opportunities for established Western and Asian companies.
In West Africa alone there’s a potential workforce of 350 million people, the population has increased 5 fold since 1950 and the United Nations has ranked West Africa as the World’s Fastest growing region!
During the past 10 years the Canary Islands, (Highly Evolved Spanish Islands located approx. 250km from Morocco) have become the perfect location for both outward investing African companies wanting to enter the global markets via a European corporate structure, and global companies wanting to enter the African market.
The Canary Islands have had a gravitational pull on European tourists since the 1970’s, due to their ever developing infrastructure, and stable financial, political and legal European framework. Actually if you set foot in the Islands Capitals of Santa Cruz or Las Palmas, today you’d be forgiven for thinking you’re were in any European city.
Here’s the 3 main reasons why international companies, like Kinrosschose the Canary Islands as their preferred location in which to manage and grow their African activities!
Europe’s Lowest Onshore Corporate Tax Location: Due to the proximity to their parent country of Spain, the Canary Islands are protected by a permanent legal status known as “Ultra Peripheral”. This means, unlike other locations in Europe that boast tax incentives, the Canary incentives will always be in place, providing long term security for investors. The corporate tax rate is just 4% through the ZEC incentive. Additionally, they have another half dozen other tax incentives to benefit a wide spectrum of companies and investors. The Canary Tax Incentives are authorized by the European Commission and fully regulated by the Spanish Governments Tax Office, “Hacienda”.
Access to Talent: The Canaries have 2 universities producing graduates to European standards, equally the general population is of a European mentality, and often, bi-lingual due to decade of tourism on the islands. Capital Investment Consultants has successfully supported many international companies to establish their corporate structure in the Canaries and recruit staff locally and internationally. Our biggest success was recruiting 47 qualified engineers, 4 of whom PhD’s, from the local universities and abroad, some of whom left Apple in Ireland to join the team!
Lifestyle: There is a magic about the Canary Islands and in particular the Capital Cities of the two provinces provide the perfect equilibrium between work and leisure. The low cost yet high standard of living, European culture, secure legal, financial and social systems make them amongst the most desirable European cities to live and work as stated by “The Guardian UK”. The Canaries is a place that people are gravitating to. Excellent medical care, education, connectivity (400 weekly flights to the UK alone) make this really a Commercial Paradise, not a fiscal one.
Novara Capital Group is an international tax & capital investment consulting firm. We specialise in Corporate Structuring, European Union Tax Incentives, IP Positioning, and Transactions / M&A. We provide intelligent corporate structures, advice, and an integrated service which cross delivers in businesses. We advise companies globally to accelerate international growth, optimise net profits, and enhance equity value leveraging Intellectual Property and Licences. Our in-house experts specialise in International Tax Law, Company Law & Cross Border Jurisdiction, Investment & Asset Management, Mergers & Acquisitions, and Operational Management.
Get in touch today to arrange an introductory conversation for more information.
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