Canary Islands

 

Canary Islands

 
Annual Growth

Economic Summary:
GDP/PPP 2004 estimate $937.6 billion, per capita $23,300

 
Real Growth rate:
2.6%
 
Inflation:
3.1%
 
Unemployment:
10.5%
 
Arable land:
26%
 
The Special Economic Zone (ZEC)
 
The Canary Islands Special Zone has been created within the fiscal and economic regime of the Canary Islands for the purpose of encouraging the economic and social development of the islands and the diversification of their manufacturing and service sectors.
 
The ZEC was created initially until 31st December 2008 and may be extended beyond that date with the authorisation of the European Commission. Companies may register up to 31st December 2006.
 
Any company intending to carry out manufacturing, commercial or service activities within the territory of the Canary Islands may register in the ZEC; financial services are excluded.
 
Permitted manufacturing, processing, handling and goods distribution activities
Fishing.
Food, beverages and tobacco.
Clothing.
Leather goods and footwear.
Furniture and related products.
Paper, publishing, graphic arts and recorded material.
Building materials.
Machinery and mechanical equipment .
Electrical, electronic and optical materials.
Chemicals.
Recycling.
Wholesale and distributive activities.
Packaging, bottling and canning.
 
Permitted service activities include
Transport and related activities.
I T.
Natural resources and waste disposal.
Telecommunications.
Advertising.
R & D.
Education and training.
Consultancy.
Legal and fiscal services.
Service companies registered under the ZEC may be set up in any part of the Canary Islands.
 
Information