Canary Islands Ecosystem Landscape

Main Investment Initiatives

Public Sector Incentives

• Residence Programme for entrepreneurs and qualified non-EU national workers to access fast-track visas.
• No VISA requirement for your EU personnel as the Canaries are fully part of Spain and the EU.
• PROEXCA offers free guidance on available incentives and soft-landing services for international startups and their staff to establish in the Canary Islands.

Taxes and Incentives

• Lowest corporate tax in the EU: Canary Islands companies operate under a reduced tax regime of 4%
• R&D & Innovation incentives: the Canary Islands Government offers to deduct up to 90% of R&D activities
• Tax exemptions: Reduced Property Transfer Tax, Stamp Duty, VAT (7%)
• Residence Programme for entrepreneurs and qualified non-EU national workers to access fast-track visas and there is no VISA requirement for your EU personnel (as the Canaries are fully part of Spain and the EU)

Investor Landscape

• Sodecan (SODECAN) – a Government established corporation that provides loans of 200,000€ to 500,000€ for tech startups in the early and growth stages.

• ProtoAtlantic – an accelerator program focused on promoting and developing the maritime sector in the Canary Islands.

• Government subsidies and European funding opportunities.

• Archipelago Next – an accelerator program and VC fund that offers access to 30,000€ to 100,000€ convertible loans, equity, partners, and an investors network.

Notable events

• Mentor Day – monthly events, accelerators, resources and visibility for entrepreneurs;

• Startup Weekend Tenerife – a 3-day startup event that brings together people from all over the Canary Islands;

• Technology Parks- 3 Tech Parks offering a network for startup ecosystem stakeholders, workspace, incubation and accelerators;

• WhyTenerife –the source of information, support and services relating to the promotion and development of the regional startup ecosystem;

• Intech Tenerife - technology park situated in Tenerife;