Maximise the profitability of your production in the Canary Islands
Take advantage of the world’s most attractive tax incentives.
We offer a comprehensive audiovisual services package with unrivalled tax savings and complete legal transparency.
Tax Incentives
The Canary Islands offer one of the most attractive tax incentive schemes in the world for the audiovisual and television industry, thanks to their remote location.
To promote the economic and social development of the archipelago, and thanks to its special legal and tax framework, film productions that choose this location can benefit from significant tax deductions and incentives, thereby optimising their budget and increasing the profitability of their projects.
At our agency, we guide you through every step of the process to ensure your production makes the most of these benefits:
- Tax relief for investment in foreign productions: Up to 50% – 45% in tax incentives.
- Tax relief for investment in Spanish productions or co-productions: Up to 50% – 35% tax relief available.
- Canary Islands Special Zone (ZEC): A special tax regime for setting up businesses in the Canary Islands, with a reduced corporation tax rate of 4%, which can be combined with the above deductions.
- 0% IGIC (Canary Islands VAT): Full tax exemption for fiction, animation or documentary audiovisual productions filmed in the Canary Islands.
THE CANARY ISLANDS SPECIAL ZONE (ZEC)
Requirements for becoming a ZEC company (multi-platform audiovisual production company, service company):
- Company or branch in the Canary Islands.
- Job creation: a minimum of 5 or 3 jobs (depending on the island).
- Investment in fixed assets: a minimum of €100,000 or €50,000 (depending on the island).
Tax benefits:
- 4% Corporation Tax.
- 0% withholding tax on dividend distributions.
- Exemption from ITPAJD (Tax on Property Transfers and Stamp Duty).
- IGIC exemption: applicable to imports and transactions between ZEC companies.
- Compatible with DIC, RIC and ZF.
If you’re looking to maximise the profitability of your audiovisual project and film in a stunning location, the Canary Islands offer the ideal conditions. Get in touch and we’ll guide you through the whole process.