The Canary Islands, including Lanzarote, have a unique tax regime that has been in place for centuries. This special tax treatment has helped to make the Canary Islands, and specifically Lanzarote, one of the least expensive yet highest-quality places to live and do business in the world.
In this blog post, we will delve into the history and overview of the Canary Islands' special tax treatment, and how it is relevant until the present day.
The Canary Islands' special tax treatment can be traced back to the 15th century. The islands were a major center for trade between Europe, Africa, and the Americas, and they quickly became a major center for trade in sugar, wine, and other agricultural products.
To encourage trade and economic development, the Spanish government granted the Canary Islands a special tax regime. This tax regime allowed businesses and individuals on the islands to pay lower taxes on goods and services.
The special tax treatment in the Canary Islands has several benefits for businesses and individuals. It has helped to make the Canary Islands one of the most attractive places to do business in Europe. Some of the benefits include:
These benefits have helped to make the Canary Islands one of the most attractive places to do business in Europe.
The Canary Islands, and specifically Lanzarote, are part of the European Union, yet they still benefit from the special tax regime. This means that businesses and individuals on Lanzarote can take advantage of the low tax rates and exemptions while still being part of the EU.
This has helped to make Lanzarote one of the least expensive yet highest-quality places to live and do business in the world.
In addition, Lanzarote has a strong tourism industry, which contributes to the island's economy and has a positive impact on the island's low-tax rate.
The island's warm climate, beautiful beaches, and unique culture attract millions of tourists every year. This creates a diverse and dynamic economy on the island, making it an ideal place to live and do business.
The Canary Islands have a special tax regime that has been in place for centuries. This tax regime has helped to make the Canary Islands one of the most attractive places to do business in Europe. Lanzarote, in particular, is a low-tax haven within the EU that offers a high quality of living and a strong tourism industry that creates a diverse and dynamic economy.
This combination of factors has made Lanzarote one of the least expensive yet highest-quality places to live in the world.