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.