X

Let's talk

Why invest?

Economy

Tenerife, a land full of opportunities

Facts & Figures

  • Surface: 2.034 km2 - Tenerife is the biggest of the seven Canary Islands.
    Surface: Equivalent to Luxembourg.
  • Population: 897.582 - Tenerife is also the most populated.
    Population: Equivalent to Marseille and Turin.
  • GDP Growth: 2,2%
    GDP Growth: Equivalent to Canada.
  • Estimated GDP Growth in 2015: 3.5% (source: CaixaBank)

Productive sectors share in the regional economy

  • Services
  • Industry
  • Construction
  • Agriculture, livestock and fishing

Connectivity

A gateway to three continents

Its privileged geographic location makes it!

X

Connectivity

Airports

  • Two International Airports with over 12 million passengers every year
  • Connected with over 164 airports
  • Over 100 airlines operate on the island
  • TENERIFE NORTH AIRPORT (TFN):
    • 4 million passengers every year
    • 1 to 5 km away from Tenerife’s metropolitan area (Santa Cruz – La Laguna)
  • TENERIFE SOUTH AIRPORT (TFS):
    • 8 million passengers every year
    • 15 to 20 km away from Tenerife’s main tourist areas (Adeje – Arona)
X

Connectivity

Ports

  • Connnected with over 278 ports around the world
  • 2 container terminals
  • 5,128,479 passengers
  • 3rd cruise port in Spain, 11th in Europe and 24th worldwide
  • 6 available berths for offshore vessels
  • Available areas for logistics investments
  • Bunker supply
  • Regasification plant (under construction)
X

Connectivity

Data

Unlimited capacity in a competitive environment

  • 100% uptime
  • Large capacity for data
  • High connection speed
  • Connected to 16 countries + 6 more in progress
  • 20,000 m2 of ultra-secure storage facility
  • 6 submarine cables, 4 independent operators
  • 5,12 Tbps connection speed

Connectivity

Airports
  • Two International Airports with over 12 million passengers every year
  • Connected with over 164 airports
  • Over 100 airlines operate on the island
  • TENERIFE NORTH AIRPORT (TFN):
    • 4 million passengers every year
    • 1 to 5 km away from Tenerife’s metropolitan area (Santa Cruz – La Laguna)
  • TENERIFE SOUTH AIRPORT (TFS):
    • 8 million passengers every year
    • 15 to 20 km away from Tenerife’s main tourist areas (Adeje – Arona)
Ports
  • Connnected with over 278 ports around the world
  • 2 container terminals
  • 5,128,479 passengers
  • 3rd cruise port in Spain, 11th in Europe and 24th worldwide
  • 6 available berths for offshore vessels
  • Available areas for logistics investments
  • Bunker supply
  • Regasification plant (under construction)
Data

Unlimited capacity in a competitive environment

  • 100% uptime
  • Large capacity for data
  • High connection speed
  • Connected to 16 countries + 6 more in progress
  • 20,000 m2 of ultra-secure storage facility
  • 6 submarine cables, 4 independent operators
  • 5,12 Tbps connection speed

Fiscal advantages

Tenerife offers a safe, stable and fully reliable economic framework.
It has a differentiated tax system unique in Europe, which offers many possibilities to establish and consolidate any type of bussiness.

Legal certainty - fully EU-authorized tax framework offering a wide array of investment incentives:

Canary Islands Special Zone (ZEC): 4% Corporate tax for registered companies

Free Trade Zone (ZFT): Exemptions on import and export duties

7% VAT

RIC (Investment Reserve) allows for up to 90% tax savings

No withholding taxes

Large deductions for investment in R&D, Innovation Activities (videogames) and Audiovisual of up to 45%

An overview of the Canary Islands' unique taxation, along with potential tax planning solutions by EY

Tax incentives of the Canary islands Economic and Fiscal Regime (REF)

A synthesis of two fiscal incentives (ZEC and FTZ) designed to attract foreign investment to the Canary Islands by PWC

Canary Islands Special Zone (ZEC) and Free Trade Zone: The lowest direct and indirect tax pressure in Europe

Doing business in Tenerife

This guide explains the advantages of setting up business in Tenerife, including first-hand information about:

  • Facts & Figures
  • Tax Benefits
  • Infraestructure & Connectivity
  • Operating Costs
  • Requirements for Non-residents
  • Services offered

Pool of talent

Tenerife provides entrepeneurs and investors with
a highly qualified, multicultural talent pool.

Tenerife has two universities:

  • La Laguna, a public university founded in 1927, and Universidad Europea de Canarias, a private center.
  • Approximately 10% of Spain’s yearly graduates are from Tenerife in fields such as Telecom, Law, Health Sciences, Maths, Arts, Business Administration, Tourism and Physics, among others.

World renowned research groups:

Keeping talent:

Privileged environment and live conditions

  • Time: General Meridian Time (GMT)
  • Yearly average temperature: 22 ºC (71,6ºF)
  • Highest sun hour average in Europe

TRAINING TALENT

  • StartIN (entreprenurial talent)
  • Specialised training: Anímate programme and Big Data Master.
  • Educational projects: FLL, Innovation School,Computational Laboratory.
  • Skilled employment: INjob

Multiculturality:

Americas
2,69%
........................

% among residents

Africa
0,85%
........................

% among residents

Rest of Europe
8,75%
........................

% among residents

Source: ISTAC (Canary Islands Statistics Institute: Municipal register of inhabitants, 2000-2014)

X

To give you the best possible experience this website uses cookies. By continuing to use this website you are giving consent to cookies being used. For more information on cookies please click here.