Comunicación

New Science Act reinforces Gran Canaria as a premier location for R&D and innovation

Gran Canaria has strengthened its proposition for companies developing research, development and innovation activities with the entry into force of the new Canary Islands Science Act (Law 5/2026, of 16 July).

The new regulatory framework introduces measures designed to make the Canary Islands a more agile and competitive environment for R&D and innovation, combining administrative simplification, support for innovative projects, talent attraction and knowledge transfer with the archipelago’s differentiated tax framework.

A more agile environment for R&D and innovation

One of the main objectives of the new legislation is to create a more efficient framework for research and innovation activities. Projects declared strategic for the Canary Islands may benefit from urgent administrative processing and reduced ordinary procedural deadlines. It also reinforces coordination between the different agents within the Canary Islands Science, Technology and Innovation System.

For companies considering Gran Canaria as a location for R&D or technology development, the new framework provides greater regulatory stability and new mechanisms designed to facilitate the development of innovative projects.

A place to develop, test and transfer technology

The Act goes beyond research funding and strengthens the connection between science, technology and business. It promotes collaboration between research organisations, universities and companies, reinforces knowledge transfer structures and supports the creation and development of knowledge based companies and university spin-offs. This creates new opportunities for companies to use Gran Canaria not only as an operational base, but also as a location from which to develop, test and scale innovative solutions.

The new Science Act also introduces measures aimed at attracting, retaining and incorporating research talent into the Canary Islands innovation ecosystem. For international companies, this adds to Gran Canaria existing network of universities, research centres, technology organisations and scientific infrastructure, helping companies build and connect with specialised teams around R&D intensive projects.

Enhanced R&D tax incentives: up to 75,6%

These regulatory improvements complement one of Gran Canaria main competitive advantages for innovation intensive companies: the Canary Islands differentiated Economic and Fiscal Regime (REF).

R&D activities carried out in the Canary Islands can benefit from an enhanced Corporate Income Tax deduction of 45% of eligible R&D expenditure, and up to 75,6% on expenditure exceeding the average R&D investment of the previous two years, subject to the applicable requirements and limits. The regime also provides specific enhanced deductions for certain investments and qualified research personnel. 

Why choose Gran Canaria for R&D and innovation?

The new Science Act reinforces an existing combination of competitive advantages: an enhanced tax regime for R&D, access to the Spanish and European innovation framework, research and technology capabilities, specialised talent and an institutional ecosystem increasingly focused on transferring knowledge into economic activity.

For companies evaluating locations for their next research, technology or innovation project, Gran Canaria offers a differentiated environment within Spain and the European Union to develop research and innovation activities.

Are you considering establishing or expanding an R&D or innovation project in Gran Canaria?

BEST in Gran Canaria provides personalised support to companies considering the island as a business location. We can help you assess available incentives, identify local research and technology capabilities and connect with potential partners across Gran Canaria's innovation ecosystem. 

Tell us about your project

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The SPEGC updates its ‘Practical guide to setting up in Gran Canaria’

Best in Gran Canaria, the initiative of the Society for Economic Promotion of Gran Canaria (SPEGC) in charge of promoting and facilitating international investments on the island and which brings together 16 entities, has updated the ‘Moving to Gran Canaria. The complete relocation guide’, with new services and benefits for settling on the island.

This free-to-use guide is a support tool that compiles all the necessary information to help expatriate workers, remote workers, entrepreneurs, employees, families and, in short, any worker who moves to Gran Canaria for professional reasons.

Published in Spanish and English and in digital format, the guide was launched in 2022 with specific information on how to manage basic administrative procedures, finding housing, educational centres and other recommendations to make it easier for professionals and companies to settle on the island.

This new edition maintains the Reading Guide that accompanies the recommended flow of tasks before, during and after the process of landing on Gran Canaria through the formal procedures (visas, obtaining NIE, social security, registration, taxes, etc.) and incorporates advice and solutions to the usual problems that families with relocation projects on the island may encounter.

In this sense, the information is adapted to the profile of professionals interested in settling on the Island, including recommendations for both workers moving for a short period of time and for permanent or long-term establishments.

The guide can be consulted on the Best In Gran Canaria website or by clicking here.

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We update our tax guide with the latest changes of 2024

The Economic Promotion Agency of Gran Canaria (SPEGC), through its initiative Best In Gran Canaria, has released an updated version of its tax guide, providing comprehensive information on the current tax regulations in the Canary Islands.

This document, prepared in collaboration with PricewaterhouseCoopers (PwC), is annually renewed and aims to offer interested parties up-to-date information in an accessible and straightforward manner.

Designed for companies and entrepreneurs operating in or considering expansion to Gran Canaria, the guide highlights the opportunities offered by the Canary Islands Economic and Fiscal Regime (REF). Its ultimate aim is to enhance technical knowledge about investment prospects on the island, ensuring Gran Canaria's position as a regional leader in attracting new businesses and promoting economic diversification.

The 2024 edition introduces several important updates, including the implementation of a minimum corporate tax and its impact on REF-related incentives. It also addresses changes in the cumulative application limits of REF aid, following the guidelines on state aid for regional purposes, and the removal of the annual €50 million cap for sectoral aid to audiovisual productions.

Canary Islands continue to lead in terms of favorable tax conditions for new economic activities, maintaining the lowest tax rates in the country thanks to the Canary Islands Special Zone (ZEC) and specific reserves like the Canary Islands Investment Reserve. Additional benefits include higher deduction percentages compared to the rest of Spain, exclusive deductions such as those for new fixed assets, and higher aid application limits than any other region in the state.

Best In Gran Canaria is an initiative driven by the SPEGC, under the Cabildo de Gran Canaria, with the mission of promoting and facilitating international investments on the island. It brings together 14 public entities to support this goal. The tax guide is part of the broader efforts to attract companies and investors to Gran Canaria by offering valuable advice and insights.

This document, available for free download in both Spanish and English, serves as an essential resource for businesses and investors seeking to take advantage of the unique fiscal benefits Gran Canaria has to offer.

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Discover the Opportunities Gran Canaria Offers for Investment

The Sociedad de Promoción Económica de Gran Canaria (SPEGC) promotes investment in the island, through the Best in Gran Canaria initiative, highlighting the unique advantages Gran Canaria offers for business and commercial development.

The combination of connectivity and quality of life makes the island an ideal destination for investment and launching new projects. Furthermore, the climatic and natural conditions of Gran Canaria, along with its cultural and sports offerings and historical heritage, provide a high quality of life for its residents.

These benefits and many others are detailed in an informational guide designed to assist companies and entrepreneurs in establishing or relocating their businesses to the island. It highlights tax advantages and investment support, as the Canary Islands offer the most favorable tax regime in Europe, as well as aspects like the geostrategic location and the island's port and airport infrastructures, which ensure excellent connectivity with the rest of Spain, Europe, and even Africa.

These characteristics, combined with the offer of specific infrastructures and services for business development, position the island as a true global hub for business and talent.

The updated Best in Gran Canaria brochure, available here, details all these advantages and benefits the island offers for investment, establishing businesses, and developing remote projects.

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SPEGC invests over one million euros in nine innovative SMEs under the INNVERPYME initiative

The Economic Promotion Agency of Gran Canaria (SPEGC), an entity run by the Island Council of Gran Canaria, has invested 1,170,000 euros in nine recently incorporated innovative companies under its INNVERPYME financial instrument, which offers equity loans. The investment by SPEGC in these companies will lead to the investment of 2.3 million euros and the creation of 39 jobs.

The INNVERPYME initiative is a financial instrument based on equity loans that is managed by SPEGC using funds provided by the Island Council of Gran Canaria and aimed at technology-focused and innovative SMEs in sectors capable of fostering economic diversification on the island. Those sectors include fields relating to information and communication technology, the maritime-marine sector and digital creativity.

The initiative is engaged in company finance during the seed stage for businesses that are no more than two years old with amounts ranging from 25,000 to 100,000 euros, which can be increased to 150,000 euros for companies in digital creativity sectors. INNVERPYME can also finance SMEs during their growth stage (companies that have been operating for 2-5 years), which can apply for financing of between 50,000 and 200,000 euros.

The priority areas for companies wishing to receive this funding via equity loans are: advanced technology solutions based on information and communication technologies; those tied to the operation of the island’s marine resources; and those related to digital creativity, video games, digital animation and digital production sectors. The financing is also available to companies operating in other fields of business and that contribute to competitiveness for the island and the diversification of its productive structure. Any Spanish or overseas company with a permanent base on the island will be eligible to receive this funding.

This financial instrument exists alongside other actions being promoted by SPEGC to support the creation of new companies or attract new business initiatives to the island, such as the personalised support service for companies, physical installation at its business incubators or access to personalised training programmes under the Gran Canaria Tecnova initiative.

For more information on this financial instrument, please visit: https://www.spegc.org/instrumento-financiero-para-apoyar-el-desarrollo-de-proyectos-de-pymes-tecnologicas-e-innovadoras/

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Office spaces in Gran Canaria: customized and turnkey solutions that activate business growth

• With a mix of private market and publicly-managed office solutions, Gran Canaria offers an attractive portfolio of working spaces and collaborative environments
• The Canary islands’ capital city and economic hub (Las Palmas de Gran Canaria), acts as an expanded central business district (CBD) for the entire region, yet diverse opportunities are widely accessible across various areas on other locations of Gran Canaria.

Gran Canaria has become a hotspot for attracting international talent, companies and workers. It is welcoming an increasing number of professionals who carry their work either remotely, keeping their business structure and clients, or employees from international companies that have established a base on the island.

After weighting in the many benefits associated to operating on Gran Canaria (eg. 4% corporate tax rate), and choosing Spain's burgeoning IT hub as its operational base (more info here), the company must then turn its attention to other crucial operational tasks. Much like the relocation process itself, the quest for an ideal office and business location can likewise present a somehow great challenge.

A market that grows in numbers and incorporates new trends

As a matter of fact, Gran Canaria leads remote work attraction to the Canary Islands – half of the incoming remote workers that choose any of the eight Canary Islands opt for Gran Canaria, according to nomadlist.com. A closer look out at employment creation figures also reveal stunning results in the period 2022-2023, as Gran Canaria boasts unparalleled regional growth in new company creation and job opportunities, outpacing the Canary Islands' average. According to the National Institute of Statistics, in 2022 and early 2023 Gran Canaria achieved a remarkable growth on occupied population (12% year-on-year expansion, doubling the archipelago's average) and thus generating an impressive 42,000 jobs (3 out of 4 jobs created on the islands in said period). Notably, the majority of these opportunities are concentrated in the vibrant Las Palmas de Gran Canaria.

As business demands evolve, Gran Canaria has risen to the occasion, embracing novel concepts of workspace. The island has witnessed a surge in flexible work areas, such as coworking and coliving spaces, revolutionizing the way professionals operate. Coworkings do stand out as a unique chance to forge valuable proessional connections. There are thirty-two coworking spaces around the island, with the majority concentrated in two area of the island’s capital however, most of them are located in Las Palmas de Gran Canaria in two main areas: Mesa y López-Canteras-Puerto and Vegueta-Triana- Avenida Marítima.

At the same time, office developments are refurbishments are taking place, while new business mini-hubs are being created in previously unexpected areas of the island (on industrial premises, within large hospitality complexes, on rural areas just 20 min from the city centre, etc.).

Finding the ideal spot: allocating resources for the assessment and decision-making process

From early on, international profiles that choose the island follow a careful strategy to simplify the finding and relocation to comfortable and affordable spaces to carry out their work activities. Many of them are used to the likes of larger Western European cities, with monthly rate per sqm four-fo five-fold the rates available on the Canary Islands. Rates and costs aside, one of the most common enquiries lie on the locational aspects.

In line with this trend, the Economic Promotion Agency of Gran Canaria (SPEGC) and its signature promotional initiative ‘Best in Gran Canaria’ have pioneered a comprehensive softlanding guide, simplifying the process of setting up both businesses and professionals on the island. From navigating administrative requirements to securing visas, accommodations, and workspaces, our guide offers a seamless transition to the Gran Canaria ecosystem.

To address this challenge, businesses looking to establish themselves in Gran Canaria can consider several (optional) steps:

1. Assess actual needs: Understand your company's specific requirements, including space dimension, layout, amenities, and any specific demand related to your industry.
2. Consider collaboration spaces: Depending on the nature of your business, collaborative environments like co-working spaces offer networking opportunities and flexibility.
3. Re-assess your very own flexibility terms: Consider short-term and long-term lease options based on your business's growth projections and the potential for changes in your space needs.
4. Explore locations: Beyond Las Palmas de Gran Canaria, explore other areas on the island that might align with your goals and workforce.
5. Connect with local networks: Engage with local associations and entities to gather insights and recommendations.
6. Do planned research: Utilize online resources to explore office spaces virtually and conduct thorough research. You may also inquiry what other similar companies or competitors did on previous cases,
7. Budget planning: Factor in all costs associated with the office space, including rent, utilities, maintenance, and any potential renovations.
8. Customized solutions: Seek out office providers that offer customized and turnkey solutions, allowing you to tailor the space to your brand and operational needs.
9. Professional services: Consider liaising with local real estate agents, legal advisors, and business consultants who can provide expertise and guidance in navigating the local market.
10. Visit in person: Whenever possible, make a trip to Gran Canaria to visit potential office spaces in person, allowing you to assess the environment, infrastructure, and overall suitability. It is a good chance to visit and kick-off your local operation.

‘Best in Gran Canaria’ offers ready-to-enter offices on several locations

SPEGC also develops and offers premium spaces for businesses and entrepreneurs to nurture and propel their ventures. With cutting-edge facilities, located on strategic areas of the islands, SPEGC’s current offer of public spaces include four main business hubs:

• Marine & Maritime Marine Innovation Centre (CIMM): developed for IT companies operating or willing to operate in the marine sector, the Centre is located within port premises, a few blocks from the city centre and Las Canteras beach
• Gran Canaria Platós: an expansive audiovisual complex spanning 6,000 m2, complete with state-of-the-art sets and attached amenities.
• Gran Canaria Technology Park (PTGC): offering a range of workspaces tailored to innovative tech businesses and ICT-driven enterprises. Choose between the INCUBE and Pasarela buildings, both of them located on the city outskirts, but a mere 10min drive to the city centre, and purposely-built for digital creative companies, or the Multipurpose building located by the University of Las Palmas de Gran Canaria. The latter lies 14km from the city centre and is home to more than 70 companies, most of the operating in the IT sector and collaborating with fresh talent and research teams of the University.

All buildings offer rooms of different sizes (from 23sqm to 62 sqm) and the possibility to merge offices to create larger open spaces. Coworking spots are available at the CIMM only.

Prices are competitive: ranging from EUR10/sqm to EUR15/sqm per month, depending on the location and whether the offices come furnished or unfurnished.  Basic utilities, internet connection, office cleaning, using of shared/rest areas, 24hr access, work and meeting rooms (free of charge and subject to reservation), mail receipt service, surveillance, security, maintenance service and parking area (subject to availability) are duly included in these rates. ‘Gran Canaria Platós’ (soundstages) have their own price scheme depending on time and services needed, whereas the

‘Marine & Maritime Innovation Centre’ (CIMM) offers coworking spaces for €90 per month.

Companies interested in applying for these spaces may submit a form (CIMM, Platós and PTGC) alongside the required documents. Although the application process shall be completed in Spanish, you may count on the ‘Best in Gran Canaria’/SPEGC team to support while logging in and submitting your application. For other enquiries, whether you seek island establishment advice, workspace solutions, financing assistance, or guidance, we're here to propel your success story on Gran Canaria. Feel free to contact our team members here

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'Gran Canaria Maritime Scorecard' 2023 re-launch with new contents and useful data

The "Gran Canaria Maritime Scorecard" has been improved to fully incorporate recent updates related to port and maritime operations on the island. As a matter of fact, Gran Canaria is the home of the Port of Las Palmas and an opportunity for growth in the Blue Economy.

Download your copy here

The Maritime Scorecard, which is just available in English, aims to outline a global, open, safe island devoted to marine/maritime business. It provides practical and accurate information to companies who wants operate from Gran Canaria. The document, updated in July 2023, also includes practical and relevant data, direct contact with relevant local stakeholders in the maritime sector, such as the Port Authority of Las Palmas, the Gran Canaria Free Trade Zone or Canary Islands Maritime Cluster and a QR link for downloading ‘Best in Gran Canaria’ digital resources, such as Tax Guide and Softlanding Guide, among others.

A dynamic, flexible and user-friendly document

The Maritime Scorecard shows throughout its two pages and five main sections the competitive profile of our maritime sector:

Advantages of operating from Gran Canaria. A list of the main attributes of Gran Canaria and the Port of Las Palmas (geostrategic position, centrality in intra-regional cargo transfers, extensive national and international connectivity, first-class infrastructure, a highly qualified local talent pool and the best tax system in the EU for commercial and innovative activities).

The Port of Las Palmas: Gran Canaria’s port. The global connectivity node of the Canary Islands, which is reinforced by its physical and climatic features and the services it offers, which are available all year round on a 24/7 basis. The Port of Las Palmas is a multi-traffic premise with special focus transhipment, blending and processing of goods, global logistics, ship repairs, offshore services, cruising industry, bunkering & supplies, while serving as a rescue & salvation port, ready for emergency response and complex operations.

Low taxes: a variety of instruments for each project. Gran Canaria has its own economic and fiscal regime, compatible with European regulations, making it possible to benefit from lower taxes on business profits and business investment incentives.

A growing hub for digital activities and R&D. Gran Canaria is the ideal place to develop, test, scale and finance disruptive projects. This section contains the various tax credits for industrial R&D projects, as well as soft finance/participatory loans from the Gran Canaria Island governing body (Cabildo de Gran Canaria).

The island’s tech resources, in terms of research capabilities and range of organizations associated with research and innovation. These resources extend beyond the Port of Las Palmas and contribute to an enlarged ‘Blue Economy’ macro-profile.

Through this document, ‘Best in Gran Canaria’ continues with their commitment to keeping businesses and entrepreneurs constantly updated on the advantages of setting up operations in Gran Canaria and the most suitable formulas to take advantage of this unique destination.

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Discover the advantages of operating from Gran Canaria for ICT companies

The Economic Promotion Society of Gran Canaria (SPEGC), through the ‘Best In Gran Canaria' initiative, launches a document aimed at promoting the attraction of companies in the Information and Communication Technologies field (ICT) to Gran Canaria, which includes all the advantages of operating from the island and focuses on information related to the talent recruitment and training.

Among the main benefits of the island are tax incentives, connectivity, technological infrastructures, public co-investment instruments, digital transition in strategic sectors, quality and cost of living.

In addition, it specifies the support offered by the SPEGC to facilitate entrepreneurship and development business, which consists of the Business Support Service (SAE), softlanding support, financing possibilities, access to talent and tailored training programs, as well as work offices.

The 'ICT Talent Document' manages to show the competitive profile of the island on two pages, through four blocks:

Where to look for the right talent. Access to free search tools is provided, such as the 'Talento Gran Canaria' network, which has more than 1,100 professionals working abroad willing to return to the island. You may also consult the 'Best in Gran Canaria' talent platform, which analyzes more than 11,500 professional profiles; online search engines or Human Resources agencies specialized in the local market.

Attracting international talent. The SPEGC also has a 'Moving to Gran Canaria. The complete relocation guide', which emphasizes the quality of life on the island and provides all the information required for each stage of the landing process, with the objective of attracting future employees.

AD-HOC training. Customized training is another of the advantages that companies can benefit from when starting to operate from Gran Canaria, as the SPEGC has flexible training programmes on demand, with the possibility of internships and with no-hire commitment, fully financed.

How to finance your talent development. There are both national and regional tax incentives, as well as a higher deduction than in the rest of Spain for job creation and finally, the SPEGC's own tools such as the 'Tecnova2' internship programme.

With this type of strategic documentation, the SPEGC continues with its strong commitment to keep companies and entrepreneurs constantly updated on the advantages of setting up in Gran Canaria, and the most convenient operational formulas to enjoy a unique environment, which is becoming the ideal place to invest in Europe.

This document can be consulted on the 'Best In Gran Canaria' website or by clicking here.

by Comunicación