GOLDEN VISA AND PLAN AFRICA IN THE CANARY ISLANDS
SOME INFORMATION ABOUT THE CANARY ISLANDS
The Canary Islands are a Spanish archipelago located in the Atlantic Ocean facing Morocco, not to be confused with the Balearic Islands located in the Mediterranean. The Canary Islands are first and foremost a European Outermost Region OR (Articles 349 and 355 of the Treaty on the Functioning of the European Union – TFEU) and are an integral part of the European single market.
There are 8 islands, divided into two provinces, with an area of about 7,447 km2 for a total population of just under 2.5 million, of which almost 30% is of many different ethnic groups whether they are European, South American, or African. or Asian: they can therefore be considered a cosmopolitan territory. They are at the center of the three continents they connect Europe, Africa, and the Americas.
The islands are well connected for both people and goods with 5 international airports: 2 in Tenerife, 1 in Gran Canaria, Fuerteventura, and Lanzarote, and 3 for domestic flights in El Hierro, La Gomera, and La Palma.
No fewer than 1,500 international flights pass through these islands, bringing 12 million tourists a year. As for goods, the 2 international ports of Gran Canaria and Tenerife are close to the two free zones and all the islands are connected by several daily ferries carrying both cars and trucks.
The IGIC (General Indirect Tax of the Canary Islands – our VAT) is not due (the Canary Islands are in Europe, but extraterritorially) which allows for greater competitiveness because the invoices are issued without VAT to European companies and citizens.
There are other measures that can facilitate investment and work on this archipelago and above all, we must not forget the ZEC – Canary Special Zone where registered companies (a project must be prepared to obtain authorization for registration in the Official Register of ZEC Entities ) be able to benefit from 4% corporate tax “under certain precise conditions” with a minimum investment of €50,000 in the smaller islands and €100,000 in the large islands.
An internationalization action starting from the Canary Islands with a company created ad hoc can therefore guarantee any company greater competitiveness than, for example, the French or German competition with the possibility of also having companies that can take advantage of a labor cost at competitive costs.
A commercial company that aims abroad based in the Canary Islands would certainly have many advantages and if companies want to penetrate the market of African countries which is growing and will be one of the emerging markets of the next 20 years, there is also the Africa Plan of Spain where companies from the Canary Islands can ask for help.”
It is a permanent resident visa for people investing in Spain.
Each applicant must have valid health insurance in Spain and must not have a criminal record.
You must demonstrate that you have the means to support yourself and your family with a bank account with € 30,000 as the lead investor and another € 10,000 for each member of your family.
You can have it with:
– the purchase of a property of at least 500,000 euros
– by owning 1 million euros of shares in a Spanish company
– a public debt of 2 million.
REAL ESTATE INVESTMENT
If you are thinking about making a real estate investment in the Canary Islands, there are a few things you need to consider before making your decision.
All in all, investing in real estate in the Canaries can be a great opportunity. I recommend speaking to a professional for more specific advice on real estate investment in the Canary Islands. We can help you weigh the potential risks and rewards of investing in this market and advise on the best course of action for your particular situation.
INVESTING IN THE CANARY ISLANDS
There are several reasons why someone might consider investing in the Canary Islands:
- Proximity to Africa and South America: The Canary Islands lie just off the northwest coast of Africa and are a popular gateway for trade and investment between Europe, Africa, and South America.
- Favorable tax policies: The Canary Islands have a special tax regime known as the “Special Zone of the Canary Islands” (ZEC), which offers favorable tax rates for companies operating in certain sectors.
- Tourist destination: The Canary Islands are a popular tourist destination, with a subtropical climate and a wide range of attractions including beaches, natural parks, and cultural sites.
- Strong Economy: The Canary Islands have a strong and diverse economy, with sectors such as tourism, construction, and renewable energy contributing to its growth.
- Political stability: The Canary Islands are part of Spain and enjoy a stable political system and good relations with the EU and other countries.
HERE ARE 4 IMPORTANT FACTORS TO CONSIDER IN ORDER TO DECIDE:
- Location: The location of the property is an important factor to consider when investing in real estate. Some areas of the Canary Islands are more popular and sought after than others.
- Type of Property: The type of property you invest in can also impact your potential return on investment. For example, a vacation rental property may have higher rental income potential than a residential property.
- Market conditions: it is important to have a contact person who is familiar with the current real estate market in the Canary Islands in order to understand investor demand and offer them properties in different areas according to the budget to be invested. This will help you make an informed decision about the potential return on your investment.
- Financing options: You will need to think about how you will finance your property investment in the Canary Islands. There are a variety of options available, including mortgages, cash purchases, and crowdfunding platforms.
Go abroad and exports can give companies a second life
A good internationalization strategy can truly change the fate of companies.
So exporting, finding partners or doing joint ventures can broaden the market for any company.
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