5 Reasons why Call Centres & Online Businesses are moving to Canary Islands. The Service Centre Capital Of Europe. 4% Corporation Tax
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1 5 Reasons why Call Centres & Online Businesses are moving to Canary Islands The Service Centre Capital Of Europe
2 Introduction CIC are specialists for "The ZEC Zone" - one of Europe's most advantageous onshore corporate tax zones. We work with fast growing businesses and professional investors to ensure their investments, both capital or resources, are maximised to their full potential. Many clients see their returns depleted by excessive tax systems, whilst battling with the internal conflict of resisting off-shoring. We've found that the Onshore 4% ZEC Tax Zone is the perfect option for companies that can relocate part of their business to the Canary Islands. CIC are official partners of the Canarian Governments ZEC Consortium, our aim is to raise the awareness of the Onshore 4% Corporate Tax Rate fully authorised by the European Commission. 4% Corporation Tax 7% VAT No Withholding Tax Multi-Lingual Skilled Workforce Opulent Lifestyle Cosmopolitan City of Santa Cruz de Tenerife
3 1. An Exceptionally Low Corporate Tax Rate The main pull to the Canaries is an incentive called the ZEC (Zona Especial Canarias) the corporate tax rate is just 4%. There is no obligation to invest your profits, you simply just pay 4% of the gross profit amount and enjoy the additional revenue. With countries like the UK having a main Corporate Tax rate of 21% quoted by HMRC It s easy to see why companies are starting up parts of their operations in the Canaries and enjoying 75% more of their hard earned profits! Because ZEC is an onshore incentive it allows dividends to be repatriated to the UK and other jurisdictions without Withholding Tax and FREE from double taxation in the receiving jurisdiction, with the right tax structure in place. There is 5 main criteria that companies must meet the main one being a company employs a minimum average of 5 Fulltime employees throughout the year.
4 2. World Class Infrastructure and Communications The largest island in the Canaries is Tenerife. There are two sides to Tenerife; one is the more famous leading year round tourist destination however the Capital City of Santa Cruz is the main area in which companies decide to place their European Offices due to the infrastructure and connect ability.. BE CONNECTED Santa Cruz boasts world class communications providing broadband internet connections via fibre optics and one of the world s largest super computers making it an international hub for telecommunications and Online businesses trading with the Americas Europe & Africa. Logistically the Canaries have 170 direct flights connections per week to 40 European Cities
5 3. Opulent Lifestyle Santa Cruz de Tenerife like Las Palmas de Gran Canaria, have one of the most opulent lifestyles in Europe. They have more than 300 days per year of spring like sunshine average temperatures of between 15ºC and 25ºC this means a lot less man hours lost due to adverse winter weather conditions that northern European countries have to endure. Due to the weather the lifestyle of living and working in the Canaries moral is much higher meaning less days lost to sickness. The Canaries offers long light nights, and due to the climate the lifestyle is more of an outdoor one compared to other countries
6 4. Access To Talent There are two Universities in the Canaries providing access to skilled multi-lingual talent to cover a company s needs from IT to Customer Satisfaction. In addition to the local home grown bi-lingual talent there is a thriving cosmopolitan expat community with just about every language spoken imaginable. Unlike the cost of salaries in the UK or even elsewhere in Europe where wages are high, the minimum salary in the Canaries is 700 per month and the average salary for a customer service worker being around 1000 and management around 1500 per month. With more than 176 direct connections to major European Cities daily it s even the perfect location for staff that wish to relocate and never feel too far from home.
7 5. Access to World Class Tactical Advice and Support On the islands companies like Capital Investment Canaries, who provide Corporate Services and Management Consultancy can take you right through the entire process from Viability to Trading with the first process being a Suitability Study. CIC have International Clients which include one of the top 5 online sports betting companies globally, an international Movie Production Company, international online advertising agency, and a software development company. As the only private company that holds official partnership status with the ZEC Consortium CIC partners closely with the Port Authority, Chamber of Commerce, Government Departments and Public Inward Investment entities, ensuring you have Our process puts the emphasis on making establishing your base in the Canaries easy, efficient and excellent value..
8 CIC Capital Investment Canaries S.L Calle El Pilar 5 Edificio Peceño Suite 9 Santa Cruz de Tenerife T: E: rosana.mesa@capitalinvestmentcanaries.com
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