Gran Canaria is promoted as an R&D destination at Transfiere
The Economic Promotion Agency of Gran Canaria (SPEGC), through its initiative ‘Best In Gran Canaria’, attends Transfiere 2023, the largest event for R&D professionals which main objective is promoting innovation, connecting science and business and sharing scientific and technological knowledge.
Gran Canaria is present during this forum at ‘Best in Gran Canaria’ stand, where SPEGC is participating, alongside University of Las Palmas de Gran Canaria, PLOCAN and Instituto Tecnológico de Canarias (ITC). In addition to this meeting point, SPEGC team will participate in several panels to raise awareness of the potential of Gran Canaria as an R&D investment destination.
The high impact of the ‘Economic and Fiscal Regime of the Canary Islands’ (REF, in its Spanish acronym) is one of the most attractive advantages for carrying out R&D activities in Gran Canaria, through its increased deduction percentages over the rest of the national territory. For example, the deduction on eligible expenses for investments in R&D is increased from 42% (in mainland Spain) to up to 75% (in the Canaries) and from 12% to 45% in and Technological Innovation.
Additionally, other instruments as Canary Islands Especial Zone (ZEC) where companies established under this regime benefit from a reduced Corporate Income Tax rate of 4%; the Canary Islands Investment Reserve (RIC) that allows to reduce the tax burden by up to 90% of the business profit, provided that this deduction is invested into the growth of the company; or different funds at national, regional and island level aimed to financing these projects, complete this unique offer that make Gran Canaria the place to be.
Finally, to ease the development of this projects on the island, ‘Best in Gran Canaria’ provides technical support and consultancy services on taxes, legislation or financing to R&D companies interested in setting up in Gran Canaria.
‘Best in Gran Canaria’ launches streamlined website
‘Best in Gran Canaria' is the island’s investment promotion initiative, a joint project of the Economic Promotion Agency of Gran Canaria (SPEGC) and 14 other national and regional entities with interests in consolidating investment influx to the island. The project is up and running since 2016 with the aim of harmonising the message and promotional activities in which the entities participate.
In general terms, Gran Canaria seeks to present a thoughtful unified message, #TheGranCanariaMessage: Gran Canaria is far from just being a trip through incredible natural spaces, it is a fundamentally dynamic business hub where opportunities arise in various strategic sectors. Thanks to the combination of tax breaks, reduced corporate tax rate, ecosystem and institutional support.
In order to improve the information flows and accessibility, we have conducted a critical analysis of our previous website, allowing the introduction of modified functionalities and new information.
These improvements are focused on two main lines: on one hand, the user experience has been improved throughout the website, where contact points and links are more accessible and streamlining the available documentation; on the other hand, and maybe the most remarkable change, a new tab that groups services has been included, to ease investors access to all the referenced information. Finally, data and information of interest for potential investors has been updated, including connectivity, tax benefits and investment.
‘Best in Gran Canaria’, together with SPEGC, contributes to diversify the economy of Gran Canaria, create quality employment and promote the innovation, leading the island’s initiatives to attract investments. By different methods, ‘Best in Gran Canaria’ activates the interest on the island and competes in both, international and national processes for relocating companies, being its competitors other destinations and islands. With a public vocation to provide professional and up-to-date information about Gran Canaria and investment opportunities on the island, to offer quality services to companies and entrepreneurs, and to support business growth, 'Best in Gran Canaria' is an initiative of the SPEGC and the Gran Canaria Island Council.