The Canary Islands are the Spanish archipelago located just 100km off the coast of Sub Sahara Africa. Africa accounts for nearly two thirds of the world’s mineral reserves, and more than half of the world’s mineral reserves for gold, platinum group metals, cobalt and diamonds. During the past few years, exploration activities across the African continent have significantly increased, more than tripling since 2009. These facts linked with the technical capacities, superb connectivity and the secure environment of Canarian ports makes the Islands a strategic location for companies to export supplies and services into the Sub Sahara African region.
The Canary Islands Government is assisting businesses that have chosen the Archipelago as a hub to expand their exports and operations into Sub Sahara Africa. One of the main advantages of locating in the region is the possibility to be in an European Union region nearby Africa, with full capacity of operational, logistical and expatriates services, plus specific fiscal advantages like the option to pay 4% Corporate Income Tax, with 0% withholding tax, fully approved by the European Union and OCDE.
- Benefit from the best logistics and infrastructures hub in the West Africa
- Partner up with regional distributors that are already supplying the Mining &Oil Gas industries in West Africa.
- Attractive fiscal incentives and the possibility to pay 4% corporate tax rate and 0% withholding tax rate within the ZEC regime
- Exposure of business opportunities within the Canary Islands
- EU security and quality standards
- Closer access to customers in Sub Sahara Africa
- Lower operative costs.
