Why Tenerife is the best place to set up a business?

As you set about starting or expanding your business, why not look for a destination that allows you to simplify the process?

A destination that offers tax concessions, minimal bureaucratic barriers, an extensive investment ecosystem, and, simply put, better opportunities, may well become the ideal destination for you and your company.

Tenerife: A Paradise for Innovation and Business.

Tenerife ranks 21 on the Nomad List as the best destination in which to “Live, work and enjoy life”. And it’s no wonder. Because, in addition to its high standard of living, the island also has every key ingredient necessary to ensure the success of your business.

The Canary Islands, known as the Land of Eternal Spring, enjoy an average temperature of 22 ºC (71.6 ºF) throughout the year.

The islands offer a standard of living that is recognized the world over for its climate, its cuisine, its cultural offerings, its international connectivity, its low cost of living, and its low operating costs, all of which make the archipelago the ideal destination for companies that want to retain talent.

Whether you intend to start a company or are looking to expand, these are just some of the benefits that the island of Tenerife offers innovative entrepreneurs and companies.

Technology and Innovation Between 3 Continents

Over the past few years, Tenerife has developed an exhaustive entrepreneurial ecosystem. The Law on International Mobility makes it easier for investors, entrepreneurs and qualified professionals from outside the European Union to establish themselves on the island.

Their ideal geo-strategic location, between three continents– America, Africa and Europe–, makes the Canary Islands an excellent tricontinental platform for any company.

Tenerife is not only in a time zone (GMT) that makes it easy to work with any region in the world during your own working hours, it also offers a distinct combination of low tax rates, through the Canary Islands Special Zone (ZEC); access to the Tenerife Free Zone (ZFT); a reduced VAT rate (the 7% IGIC); the RIC Reserve for Investors in the Canary Islands, and tax allowances for R&D and innovative activities.

Plus, Tenerife has its own network of Science and Technology Parks, offering a high-quality environment in which to set up a business, with 600,000m2 of space available for innovative ventures and technology companies.

And, as if all this weren’t enough, Tenerife has programs in place at a national (ICEX / ENISA), regional (PROEXCA / SODECAN), and insular (INTECH) level to support investment in the island (supporting companies with startup, training programs, acceleration, incubation and workspaces) and help businesses access third markets from the island.

To learn more about the advantages Tenerife has to offer your company, download our guide in English: “Tenerife: A Place to BE. 5 + 1 Reasons to Work in Tenerife”

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