Special tax allowances for the Canary Islands over its European mainland counterparts

The Canary Islands enjoys some major tax advantages over the rest of mainland Europe which have not really been exploited because of lack of information available these TAX advantages can be significant and could be the Canary Islands advantage over mainland Spain in the recovery of its economy in 2010.

The Canary Islands are made up of seven different Islands, Fuerteventura, Tenerife, Gran Canaria, Lanzarote, La Plama, La Gomera and El Herrio, situated in the Atlantic Ocean just off the North African coast of Morroco the Canaries enjoys good flight communication with the whole of Europe and the rest of the world through the hub of Madrid.

The Canary islands are renowned for its tourism all year through as well as second and holiday homes destinations for people from mixed European destinations who choose to buy property and real estate in the Canary Islands to enjoy winter temperatures of 20 – 21 degrees.

What is the Canary Islands Special Zone?
The Canary Islands Special Zone is a low tax zone created within the framework of the Canary Islands Economic and Fiscal Regime (REF) for the purpose of promoting the economic and social development of the Islands and diversifying their production structure.
The Canary Islands Special Zone was authorised by the European Commission in January 2000 and extended in December 2006. The Spanish Government subsequently adapted the regulations concerning the ZEC contained in the Canary Islands Economic and Fiscal Regime, in accordance with the terms of the corresponding authorisations (Title V of Law 19/1994, as amended by Royal Decree-Law 12/2006 and implemented by Royal Decree-Law 1758/2007 1758/2007).
The benefits provided by the Canary Islands Special Zone will initially remain in force until 31 December 2019, and this time frame may be extended on the authorisation of the European Commission. The final date for authorisation to register in the Official ZEC Register (ROEZEC) will initially be 31 December 2013.
Where can ZEC Entities be set up?
The ZEC covers the whole territory of the Canary Islands, with the following specifications:
Entities whose corporate purpose is the undertaking of service activities may set up anywhere within the territory of the Canary Islands.
Entities whose corporate purpose is the production, transformation, handling or commercialisation of goods may only set up within certain areas designated for these purposes.
Tax Benefits

Corporate Income Tax
ZEC entities are subject to the Corporate Income Tax in force in Spain, at a reduced rate of 4%. As of 2008, the Corporate Income Tax rate in Spain ranges from 25 to 30%. The special rate of 4% shall be applied to a maximum amount of the tax base, depending on the number of jobs created and the type of activity carried out by the ZEC Entity.
Net Employment Creation
Industrial Activities
Service Activities
Other services *
From 3 to 8 workers
€1,800,000
€1,500,000
€1,125,000
More than 8 and up to 12 workers
€2,400,000
€2,000,000
€1,500,000
More than 12 and up to 20 workers
€3,600,000
€3,000,000
€2,250,000
More than 20 and up to 50 workers
€9,200,000
€8,000,000
€6,000,000
More than 50 and up to 100 workers
€21,600,000
€18,000,000
€13,500,000
More than 100 workers
€120,000,000
€100,000,000
€75,000,000
*“Other Services” are considered to be: wholesale trade and commission trade (except of motor vehicles and motorcycles); activities of travel agencies and tour operators; other tourist assistance activities; computer and related activities; legal, accounting and book-keeping activities; tax consultancy; market research and public opinion polling; business and management consultancy; management activities of holding companies; and advertising and public relations services.
DOUBLE TAXATION AGREEMENTS, EUROPEAN UNION PARENT-SUBSIDIARY DIRECTIVE AND NON-RESIDENT INCOME TAX
The Canary Islands form part of the Spanish and European Union territory, which means that:
Double Taxation Agreements signed by Spain apply to ZEC Entities.
The European Union Parent-Subsidiary Directive applies to ZEC Entities. Therefore, dividends paid by subsidiaries of ZEC Entities to their parent companies resident in other countries within the European Union are exempt from withholding tax.
ZEC regulations include application of the following exemptions to income obtained by residents in non-EU states when the income is paid by a ZEC Entity and results from operations materially and effectively carried out within the geographical area of the ZEC.
Individuals: Interest and other returns obtained by the assignment of own capital to a third party, as well as capital gains on movable assets, obtained without the intermediation of a permanent establishment.Corporate Entities: profits paid to parent companies by its subsidiaries domiciled in Spain.
These exemptions will not apply when the income is obtained through tax havens or territories with which there is no effective exchange of tax information, or when the parent company has its tax residence in such countries or territories.
TRANSFER TAX AND STAMP DUTY
ZEC Entities are exempt from Transfer Tax and Stamp Duty in the following cases:
The acquisition of assets and rights to be used for carrying out the activity of the ZEC Entity within the geographical area of the ZEC.
Company operations carried out by ZEC Entities, except in the case of their dissolution.
Stamp Duty on documents associated with operations carried out by ZEC Entities within the geographical area of the ZEC.
CANARY ISLANDS GENERAL INDIRECT TAX (IGIC) (VAT)
IGIC is the Canary Islands indirect tax levied on final consumption, in substitution of the European Union Value Added Tax (VAT). It is similar in nature to VAT, although there are major differences such as the lower tax rates. The general IGIC rate is 5%.
Within the regime of the ZEC, the provision of goods and services among ZEC Entities is exempt from IGIC, as is the importing of goods by ZEC Entities.
What are the reguirements to becoming a ZEC entity?
· The entity must be newly created and have its registered office and effective place of management within the geographical area of the ZEC
· At least one of the administrators must be resident in the Canary Islands.
· A minimum investment of €100,000 euros must be made in the case of Tenerife or Gran Canaria, or €50,000 in the case of Fuerteventura, Lanzarote, La Gomera, El Hierro or La Palma, in fixed assets related to the business activity within the first 2 years following registration.
· A minimum of 5 or 3 jobs must be created, depending on whether the location is one of the capital islands or an outlying island, in the first 6 months following registration, and this average must be maintained during the time the entity remains within the ZEC.
· The corporate purpose must consist of undertaking, within the area of the ZEC, one of the authorised activities.

DETAILED LIST OF ACTIVITIES (NACE)
PRODUCTION,
TRANSFORMATION AND
HANDLING ACTIVITIES AND
WHOLESALE DISTRIBUTION OF
GOODS:
FISHING. NACE B.
1. Fishing (05.01)
2. Fish farming (05.02)
MANUFACTURE OF FOOD
PRODUCTS, BEVERAGES AND
TOBACCO. NACE DA.
1. Production, processing and preserving
of meat and meat products (15.1)
• Production and preserving of meat
(15.11)
• Production and preserving of
poultrymeat (15.12)
• Production of meat and
poultrymeat products (15.13)
2. Processing and preserving of fish and
fish products (15.2)
3. Processing and preserving of fruit and
vegetables (15.3)
• Processing and preserving of
potatoes (15.31)
• Manufacture of fruit and vegetable
juice (15.32)
• Processing and preserving of fruit
and vegetables n.e.c. (15.33)
4. Manufacture of vegetable and animal
oils and fats (15.4)
• Manufacture of crude oils and fats
(15.41)
• Manufacture of refined oils and fats
(15.42)
• Manufacture of margarine and
similar edible fats (15.43)
5. Manufacture of dairy products (15.5)
• Operation of dairies and cheese
making (15.51)
• Manufacture of ice cream (15.52)
6. Manufacture of grain mill products,
starches and starch products (15.6)
• Manufacture of grain mill products
(15.61)
• Manufacture of starches and starch
products (15.62)
7. Manufacture of prepared animal feeds
(15.7)
• Manufacture of prepared feeds for
farm animals (15.71)
• Manufacture of prepared pet foods
(15.72)
8. Manufacture of other food products
(15.8)
• Manufacture of bread; manufacture
of fresh pastry goods and cakes
(15.81)
• Manufacture of rusks and biscuits;
manufacture of preserved pastry
goods and cakes (15.82)
• Manufacture of sugar (15.83)
• Manufacture of cocoa; chocolate
and sugar confectionery (15.84)
• Manufacture of macaroni, noodles,
couscous and similar farinaceous
products (15.85)
• Processing of tea and coffee (15.86)
• Manufacture of condiments and
seasonings (15.87)
• Manufacture of homogenized food
preparations and dietetic food
(15.88)
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Information Bulletin
• Manufacture of other food products n.e.c. (15.89)
9. Manufacture of beverages (15.9)
• Manufacture of distilled potable alcoholic beverages
(15.91)
• Production of ethyl alcohol from fermented
materials (15.92)
• Manufacture of wines (15.93)
• Manufacture of cider and other fruit wines (15.94)
• Manufacture of other non-distilled fermented
beverages (15.95)
• Manufacture of beer (15.96)
• Manufacture of malt (15.97)
• Production of mineral waters and soft drinks (15.98)
10. Manufacture of tobacco products (16.0)
MANUFACTURE OF MADE-UP TEXTILE
ARTICLES AND ARTICLES OF FUR.
NACE 17.4, 17.5, 17.6, 17 and 18.
1. Manufacture of made-up textile articles, except apparel
(17.4)
2. Manufacture of other textiles (17.5)
• Manufacture of carpets and rugs (17.51)
• Manufacture of cordage, rope, twine and netting
(17.52)
• Manufacture of non-wovens and articles made from
non-wovens, except apparel (17.53)
• Manufacture of other textiles n.e.c. (17.54)
3. Manufacture of knitted and crocheted fabrics (17.6)
4. Manufacture of knitted and crocheted articles (17.7)
• Manufacture of knitted and crocheted hosiery (17.71)
• Manufacture of knitted and crocheted pullovers,
cardigans and similar articles (17.72)
5. Manufacture of wearing apparel; dressing and dyeing of
fur (18)
• Manufacture of leather clothes (18.1)
• Manufacture of other wearing apparel and
accessories (18.2)
• Manufacture of workwear (18.21)
• Manufacture of other outerwear (18.22)
• Manufacture of underwear (18.23)
• Manufacture of other wearing apparel and
accessories n.e.c. (18.24)
• Dressing and dyeing of fur; manufacture of articles of
fur (18.3)
MANUFACTURE OF LEATHER AND LEATHER
PRODUCTS. NACE DC.
1. Tanning and dressing of leather (19.1)
2. Manufacture of luggage, handbags and the like, saddlery
and harnesses (19.2)
3. Manufacture of footwear (19.3)
MANUFACTURE OF PULP, PAPER AND PAPER
PRODUCTS; PUBLISHING AND PRINTING.
NACE DE.
1. Manufacture of pulp, paper and paper products (21)
• Manufacture of pulp (21.11)
• Manufacture of paper and paperboard (21.12)
• Manufacture of corrugated paper and paperboard
and of containers of paper and paperboard (21.21)
• Manufacture of household and sanitary goods and of
toilet requisites (21.22)
• Manufacture of paper stationery (21.23)
• Manufacture of wallpaper (21.24)
• Manufacture of other articles of paper and
paperboard n.e.c. (21.25)
2. Publishing (22.1)
• Publishing of books (22.11)
• Publishing of newspapers (22.12)
• Publishing of journals and periodicals (22.13)
• Publishing of sound recordings (22.14)
• Other publishing (22.15)
3. Printing and service activities related to printing (22.2)
• Printing of newspapers (22.21)
• Printing n.e.c. (22.22)
• Bookbinding (22.23)
• Pre-press activities (22.24)
• Ancillary activities related to printing (22.25)
4. Reproduction of recorded media (22.3)
• Reproduction of sound recording (22.31)
• Reproduction of video recording (22.32)
• Reproduction of computer media (22.33)
MANUFACTURE OF CHEMICALS AND
CHEMICAL PRODUCTS. NACE 24.
1. Manufacture of basic chemicals (24.1)
• Manufacture of industrial gases (24.11)
• Manufacture of dyes and pigments (24.12)
• Manufacture of other inorganic basic chemicals
(24.13)
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Detailed List of Activities
• Manufacture of other organic basic chemicals (24.14)
• Manufacture of fertilizers and nitrogen compounds
(24.15)
• Manufacture of plastics in primary forms (24.16)
• Manufacture of synthetic rubber in primary forms
(24.17)
2. Manufacture of pesticides and other agro-chemical
products (24.2)
3. Manufacture of paints, varnishes and similar coatings,
printing ink and mastics (24.3)
4. Manufacture of pharmaceuticals, medicinal chemicals
and botanical products (24.4)
• Manufacture of basic pharmaceutical products
(24.41)
• Manufacture of pharmaceutical preparations (24.42)
5. Manufacture of soap and detergents, cleaning and
polishing preparations (24.51)
6. Manufacture of perfumes and toilet preparations (24.52)
7. Manufacture of other chemical products (24.6)
• Manufacture of explosives (24.61)
• Manufacture of glues and gelatines (24.62)
• Manufacture of essential oils (24.63)
• Manufacture of photographic chemical material
(24.64)
• Manufacture of prepared unrecorded media (24.65)
• Manufacture of other chemical products n.e.c.
(24.66)
8. Manufacture of man-made fibres (24.7)
PREFABRICATED BUILDING PRODUCTS. NACE
20.2, 20.3, 24.3, 25.2, 26.1, 26.2, 26.3, 26.4, 26.7, 28.1,
28.12, 28.2, 28.63, 28.7, 36.1, 45.25, 45.3 and 45.4.
1. Manufacture of veneer sheets; manufacture of plywood,
laminboard, particle board, fibre board and other panels
and boards (20.2)
2. Manufacture of builders’ carpentry and joinery (20.3)
3. Manufacture of paints, varnishes and similar coatings,
printing ink and mastics (24.3)
4. Manufacture of plastic products (25.2)
• Manufacture of plastic plates, sheets, tubes and
profiles (25.21)
• Manufacture of plastic packing goods (25.22)
• Manufacture of builders’ ware of plastic (25.23)
• Manufacture of other plastic products (25.24)
5. Manufacture of glass and glass products (26.1)
• Manufacture of flat glass (26.11)
• Shaping and processing of flat glass (26.12)
• Manufacture of hollow glass (26.13)
• Manufacture of glass fibres (26.14)
• Manufacture and processing of other glass, including
technical glassware (26.15)
6. Manufacture of non-refractory ceramic goods other
than for construction purposes; manufacture of
refractory ceramic products (26.2)
• Manufacture of ceramic household and ornamental
articles (26.21)
• Manufacture of ceramic sanitary fixtures (26.22)
• Manufacture of ceramic insulators and insulating
fittings (26.23)
• Manufacture of other technical ceramic products
(26.24)
• Manufacture of other ceramic products (26.25)
• Manufacture of refractory ceramic products (26.26)
7. Manufacture of ceramic tiles and flags (26.3)
8. Manufacture of bricks, tiles and construction products,
in baked clay (26.4)
9. Cutting, shaping and finishing of ornamental and building
stone (26.7)
10. Manufacture of structural metal products (28.1)
• Manufacture of metal structures and parts of
structures (28.11)
• Manufacture of builders’ carpentry and joinery of
metal (28.12)
11. Manufacture of tanks, reservoirs and containers of
metal; manufacture of central heating radiators and
boilers (28.2)
• Manufacture of tanks, reservoirs and containers of
metal (28.21)
• Manufacture of central heating radiators and boilers
(28.22)
12. Manufacture of locks and hinges (28.63)
13. Manufacture of other fabricated metal products (28.7)
• Manufacture of steel drums and similar containers
(28.71)
• Manufacture of light metal packaging (28.72)
• Manufacture of wire products (28.73)
• Manufacture of fasteners, screw machine products,
chain and springs (28.74)
• Manufacture of other fabricated metal products
n.e.c. (28.75)
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Information Bulletin
14. Manufacture of furniture (36.1)
• Manufacture of chairs and seats (36.11)
• Manufacture of other office and shop furniture
(36.12)
• Manufacture of other kitchen furniture (36.13)
• Manufacture of other furniture (36.14)
• Manufacture of mattresses (36.15)
15. Other construction work involving special trades
(45.25)
16. Building installation (45.3)
• Installation of electrical wiring and fittings (45.31)
• Insulation work activities (45.32)
• Plumbing (45.33)
• Other building installation (45.34)
17. Building completion (45.4)
• Plastering (45.41)
• Joinery installation (45.42)
• Floor and wall covering (45.43)
• Painting and glazing (45.44)
• Other building completion (45.45)
MANUFACTURE OF MACHINERY AND
EQUIPMENT n.e.c. NACE 29.
1. Manufacture of machinery for the production and use
of mechanical power, except aircraft, vehicle and cycle
engines (29.1)
• Manufacture of engines and turbines, except aircraft,
vehicle and cycle engines (29.11)
• Manufacture of pumps and compressors ( 29.12)
• Manufacture of taps and valves (29.13)
• Manufacture of bearings, gears, gearing and driving
elements (29.14)
2. Manufacture of other general purpose machinery (29.2)
• Manufacture of furnaces and furnace burners (29.21)
• Manufacture of lifting and handling equipment (29.22)
• Manufacture of non-domestic cooling and ventilation
equipment (29.23)
• Manufacture of other general purpose machinery
n.e.c. (29.24)
3. Manufacture of agricultural and forestry machinery
(29.3)
• Manufacture of agricultural tractors (29.31)
• Manufacture of other agricultural and forestry
machinery (29.32)
4. Manufacture of machine-tools (29.4)
• Manufacture of portable hand held power tools
(29.41)
• Manufacture of other metalworking machine tools
(29.42)
• Manufacture of other machine tools n.e.c. (29.43)
5. Manufacture of other special purpose machinery (29.5)
• Manufacture of machinery for metallurgy (29.51)
• Manufacture of machinery for mining, quarrying and
construction (29.52)
• Manufacture of machinery for food, beverage and
tobacco processing (29.53)
• Manufacture of machinery for textile, apparel and
leather production (29.54)
• Manufacture of machinery for paper and paperboard
production (29.55)
• Manufacture of other special purpose machinery
n.e.c. (29.56)
6. Manufacture of weapons and ammunition (29.6)
7. Manufacture of domestic appliances n.e.c. (29.7)
• Manufacture of electric domestic appliances (29.71)
• Manufacture of non-electric domestic appliances
(29.72)
MANUFACTURE OF ELECTRICAL AND
OPTICAL EQUIPMENT. NACE DL.
1. Manufacture of office machinery and computers (30.0)
• Manufacture of office machinery (30.01)
• Manufacture of computers and other information
processing equipment (30.02)
2. Manufacture of electrical machinery and apparatus n.e.c.
(31)
• Manufacture of electric motors, generators and
transformers (31.1)
3. Manufacture of electricity distribution and control
apparatus (31.2)
4. Manufacture of insulated wire and cable (31.3)
5. Manufacture of accumulators, primary cells and primary
batteries (31.4)
6. Manufacture of lighting equipment and electric lamps
(31.5)
7. Manufacture of electrical equipment n.e.c. (31.6)
• Manufacture of electrical equipment for engines and
vehicles n.e.c. (31.61)
• Manufacture of other electrical equipment n.e.c.
(31.62)
5
Detailed List of Activities
8. Manufacture of radio, television and communication
equipment and apparatus (32)
• Manufacture of electronic valves and tubes and other
electronic components (32.1)
• Manufacture of television and radio transmitters
and apparatus for line telephony and line telegraphy
(32.2)
• Manufacture of television and radio receivers, sound
or video recording or reproducing apparatus and
associated goods (32.3)
9. Manufacture of medical, precision and optical
instruments, watches and clocks (33)
• Manufacture of medical and surgical equipment and
orthopaedic appliances (33.1)
• Manufacture of instruments and appliances for
measuring, checking, testing, navigating and other
purposes, except industrial process control
equipment (33.2)
• Manufacture of industrial process control equipment
(33.3)
• Manufacture of optical instruments and photographic
equipment (33.4)
• Manufacture of watches and clocks (33.5)
MANUFACTURE OF AIRCRAFT AND
SPACECRAFT. NACE 35.30.
MANUFACTURE OF FURNITURE;
MANUFACTURING N.E.C. NACE 36.
1. Manufacture of furniture (36.1)
• Manufacture of chairs and seats (36.11)
• Manufacture of other office and shop furniture
(36.12)
• Manufacture of other kitchen furniture (36.13)
• Manufacture of other furniture (36.14)
• Manufacture of mattresses (36.15)
2. Manufacture of jewellery and related articles (36.2)
• Striking of coins (36.21)
• Manufacture of jewellery and related articles n.e.c.
(36.22)
3. Manufacture of musical instruments (36.3)
4. Manufacture of sports goods (36.4)
5. Manufacture of games and toys (36.5)
6. Miscellaneous manufacturing n.e.c. (36.6)
• Manufacture of imitation jewellery (36.61)
• Manufacture of brooms and brushes (36.62)
• Other manufacturing n.e.c. (36.63)
RECYCLING. NACE 37.
1. Recycling of metal waste and scrap (37.1)
2. Recycling of non-metal waste and scrap (37.2)
WHOLESALE TRADE AND COMMISSION
TRADE. NACE 50 and 51.
1. Sale of motor vehicles (50.1)
2. Maintenance and repair of motor vehicles (50.2)
3. Sale of motor vehicle parts and accessories (50.3)
4. Sale, maintenance and repair of motorcycles and related
parts and accessories (50.4)
5. Retail sale of automotive fuel (50.5)
6. Wholesale on a fee or contract basis (51.1)
• Agents involved in the sale of agricultural raw
materials, live animals, textile raw materials and
semi-finished goods (51.11)
• Agents involved in the sale of fuels, ores, metals and
industrial chemicals (51.12)
• Agents involved in the sale of timber and building
materials (51.13)
• Agents involved in the sale of machinery, industrial
equipment, ships and aircraft (51.14)
• Agents involved in the sale of furniture, household
goods, hardware and ironmongery (51.15)
• Agents involved in the sale of textiles, clothing,
footwear and leather goods (51.16)
• Agents involved in the sale of food, beverages and
tobacco (51.17)
• Agents specializing in the sale of particular products
or ranges of products n.e.c. (51.18)
• Agents involved in the sale of a variety of goods
(51.19)
7. Wholesale of agricultural raw materials and live animals
(51.2)
• Wholesale of grain, seeds and animal feeds (51.21)
• Wholesale of flowers and plants (51.22)
• Wholesale of live animals (51.23)
• Wholesale of hides, skins and leather (51.24)
• Wholesale of unmanufactured tobacco (51.25)
8. Wholesale of food, beverages and tobacco (51.3)
6
Information Bulletin
• Wholesale of fruit and vegetables (51.31)
• Wholesale of meat and meat products (51.32)
• Wholesale of dairy produce, eggs and edible oils and
fats (51.33)
• Wholesale of alcoholic and other beverages (51.34)
• Wholesale of tobacco products (51.35)
• Wholesale of sugar and chocolate and sugar
confectionery (51.36)
• Wholesale of coffee, tea, cocoa and spices (51.37)
• Wholesale of other food, including fish, crustaceans
and molluscs (51.38)
• Non-specialized wholesale of food, beverages and
tobacco (51.39)
9. Wholesale of household goods (51.4)
• Wholesale of textiles (51.41)
• Wholesale of clothing and footwear (51.42)
• Wholesale of electrical household appliances and
radio and television goods (51.43)
• Wholesale of china and glassware, wallpaper and
cleaning materials (51.44)
• Wholesale of perfume and cosmetics (51.45)
• Wholesale of pharmaceutical goods (51.46)
• Wholesale of other household goods (51.47)
10. Wholesale of non-agricultural intermediate products,
waste and scrap (51.5)
• Wholesale of solid, liquid and gaseous fuels and
related products (51.51)
• Wholesale of metals and metal ores (51.52)
• Wholesale of wood, construction materials and
sanitary equipment (51.53)
• Wholesale of hardware, plumbing and heating
equipment and supplies (51.54)
• Wholesale of chemical products (51.55)
• Wholesale of other intermediate products (51.56)
• Wholesale of waste and scrap (51.57)
11. Wholesale of machinery, equipment and supplies (51.8)
• Wholesale of machine-tools (51.81)
• Wholesale of mining, construction and civil
engineering machinery (51.82)
• Wholesale of machinery for the textile industry and
of sewing and knitting machines (51.83)
• Wholesale of computers, computer peripheral
equipment and software (51.84).
• Wholesale of other office machinery and equipment
(51.85)
• Wholesale of other machinery for use in industry,
trade and navigation (51.87)
• Wholesale of agricultural machinery and accessories
and implements, including tractors (51.88)
12. Other wholesale (51.9)
PRODUCTION OF RENEWABLE ENERGY. NACE
40.10.
SERVICE ACTIVITIES:
TRANSPORT, STORAGE AND
COMMUNICATION. NACE I.
1. Land transport; transport via pipelines (60)
• Transport via railways (60.1)
• Other scheduled passenger land transport (60.21)
• Taxi operation (60.22)
• Other land passenger transport (60.23)
• Freight transport by road (60.24)
• Transport via pipelines (60.3)
2. Water transport (61)
3. Air transport (62)
• Scheduled air transport (62.1)
• Non-scheduled air transport (62.2)
• Space transport (62.3)
4. Supporting and auxiliary transport activities; activities of
travel agencies (63)
• Cargo handling (63.11)
• Storage and warehousing (63.12)
5. Other supporting transport activities (63.2)
• Other supporting land transport activities (63.21)
• Other supporting water transport activities (63.22)
• Other supporting air transport activities (63.23)
6. Activities of travel agencies and tour operators; tourist
assistance activities n.e.c. (63.3)
7. Activities of other transport agencies (63.4)
8. Post and courier activities (64.1)
• National post activities (64.11)
• Courier activities other than national post activities
(64.12)
9. Telecommunications (64.2)
MAINTENANCE AND REPAIR OF MOTOR
VEHICLES. NACE 50.2.
7
Detailed List of Activities
* Co-ordination centres and intra-group services are excluded from the services included in NACE group 74.15 (“Other business activities”).
COMPUTER AND RELATED ACTIVITIES.
NACE 72.
1. Hardware consultancy (72.1)
2. Software consultancy and supply (72.2)
• Publishing of software (72.21)
• Other software consultancy and supply (72.22)
3. Data processing (72.3)
4. Database activities (72.4)
5. Maintenance and repair of office, accounting and
computing machinery (72.5)
6. Other computer related activities (72.6)
SERVICES RELATED TO THE EXPLOITATION
OF NATURAL RESOURCES AND WASTE
DISPOSAL. NACE N.E.C. (NOT ELSEWHERE
CLASSIFIED).
RESEARCH AND DEVELOPMENT. NACE 73.
1. Research and experimental development on natural
sciences and engineering (73.1)
2. Research and experimental development on social
sciences and humanities (73.2)
OTHER BUSINESS ACTIVITIES. NACE 74.
1. Legal activities (74.11)
2. Accounting, book-keeping and auditing activities; tax
consultancy (74.12)
3. Market research and public opinion polling (74.13)
4. Business and management consultancy activities (74.14)
5. Management activities of holding companies* (74.15)
6. Architectural and engineering activities and related
technical consultancy (74.2)
7. Technical testing and analysis (74.3)
8. Advertising (74.4)
9. Labour recruitment and provision of personnel (74.5)
10. Investigation and security activities (74.6)
11. Industrial cleaning (74.7)
12. Miscellaneous business activities n.e.c. (74.8)
• Photographic activities (74.81)
• Packaging activities (74.82)
• Secretarial and translation activities (74.85)
• Call centre activities (74.86)
• Other business activities n.e.c. (74.87)
SPECIALIZED AND POSTGRADUATE TRAINING
SERVICES. NACE 80.3 and 80.4.
1. Higher education (80.3)
2. Adult and other education (80.4)
• Driving school activities (80.41)
• Adult and other education n.e.c. (80.42)
MOTION PICTURE AND VIDEO PRODUCTION.
NACE 92.11.
RADIO AND TELEVISION ACTIVITIES. NACE
92.20.

Buying New Developments and Off Plan Property in the Canary Islands

Buying New Developments or Off Plan as it is commonly referred to is a great way to purchase new Apartments, Villas or Townhouses in Canary Islands, regardless if it is been built on a Golf Course, overlooking the Atlantic Ocean or even a town centre / village property.

Click here to find the best opportunity to buy a property in the Canary Islands

New Yacht Marina Is To Be Constructed In Corralejo, Fuerteventura, Canary Islands

A new yacht marina is to be constructed in Corralejo, Fuerteventura which will provide 650 private moorings in an adventurous expansion plan of the present harbour. The project, which will be funded by the Canarian Government, is in the early stages of planning but it is hoped that it will go out to tender early next year.

Corralejo harbour is one of the busiest in the Canaries with over a million passengers a year using the ferry link to Lanzarote and the project will ensure that increasing passenger demand can be met.

The scheme will create two new commercial jetties and a multi purpose water sports building as well as the marina. Once the construction work begins it is expected to take around two years to complete.

This is good news for home owners and investors as marinas are sort after locations for property purchasers and the construction of the new marina will mean that homes in the immediate area will be at a premium.

More Flights Coming To Fuerteventura

More Flights Coming To Fuerteventura from the UK

EXETER International Airport has signed a deal with an airline and tour operator which will run new flights to two winter holiday hot spots. Palmair will be flying holidaymakers from Exeter to Tunisia in November. The company will also operate flights to Fuerteventura in the Canary Islands, for one or two-week holidays, from November until the end of March, 2010.

The airport’s managing director Jamie Christon, said: “This is great news for the airport team and for those wanting to fly to guaranteed sunshine this winter. Despite the gloomy economic conditions, these new routes may be an indicator of better times ahead and I am confident that these flights will sell out quickly”.

UK-based Palmair, which operates from offices in Bournemouth, was voted Britain’s most popular short haul airline last year in a survey by Holiday Which?

Is the overseas Real Estate market beginning to show signs of improvememnt …….

According to Primelocation.com they have reported seeing an increase in the number of websearches for spanish real estate increasing over French real estate and amercican real estate from the British marketplace as over 1 million search for overseas property in February, the number of enquires being mirrored by GoldAcre Estates for Canary Islands real estate and golf property runs very much in line with the increase in sales for the same period…………


In spite of difficult economic conditions and significant falls in the value of Sterling, searches for international property on Primelocation.com increased in January 2009 by 72% month-on-month and broke through the one million barrier in February, according to data released yesterday. Spain was the most popular country searched for on the portal, attracting just under 300,000 searches, some 60,000 ahead of last month’s most popular country, France (238,729). The USA held on to its third position with 153,912.The portal believes that the countries that have performed the best y-o-y are those located outside the Eurozone, with the USA for example rising by 130% in popularity during that time. Searches for Turkish and Australian property also performed well with a rises in searches of 25% and 18% y-o-y.“After a slow down in searches for international property in the second half of 2008, we have had a very strong start to 2009,” said the portal’s international business development manager Ann Wright. “Searches for international properties on Primelocation.com were up 72% on December and February searches and leads to agents look to be up over 100% on January. Some of the growth is in areas outside the Eurozone where sterling has suffered less than it has against the Euro. It may also be that people who held off investing in 2008 are now hoping to take advantage of the falling prices in some areas.”

Top 10 searches in February 2009 through Primelocation.com
1 Spain 299,762
2 France 238,729
3 USA 153,912
4 Italy 65,126
5 Portugal 56,882
6 UAE 18,596
7 Turkey 15,105
8 Australia 14,545
9 Cyprus 12,611
10 Bulgaria 12,220

Total searches during February: 1,002,810Monthly search destinations – Top 10 January 2009 1 France 29%
2 Spain 23%
3 USA 15%
4 Italy 6%
5 Portugal 5%
6 Australia 2%
7 UAE 2%
8 Turkey 2%
9 Cyprus 1%
10 Bulgaria 1%

Canary Island Villas...Peaceful Villages...Golf and Fuerteventura Lifestyle

Living and owning a villa in the small villages of Fuerteventura offers a relaxing lifestyle in a safe enviroment. With excellent golf courses and the islands fabulous beaches always close this is why Spanish real estate remains so popular with purchasers...in the Canary islands

Villa in Lajares , views of the Fuerteventura countryside... garden and roof terrace. want to know more?GoldAcre Estates S.L, Corralejo, info@goldacre-estates.com...28th February 2009
Price 285,000 Euros

For information 0034 928 535 044
email info@goldacre-estates.com

Canary Island Villa with great rental potential...Spanish Real Estate

The Canary islands provides wonderful opportunities for property investment and holiday rentals.....Real Estate in Fuerteventura offers high quality homes.....

This amazing luxury villa is a modern and extremely spacious property that benefits from large bright rooms and has the unique feature of an indoor swimming pool. Four large bedrooms. Fantastic views of El Cotillo, and the north coast of Fuerteventura. Comes with large garden with double garage.... 26th February 2009

Price 650,000 Euros

For more information call 0034 928 535 044

or email info@goldacre -estates.com

Can you afford to miss out on these low, low prices?

Canarian Real estate now offers some of the most competetive priced properties.....A spacious 2nd floor apartment with a sheltered south facing terrace overlooking the large communal pool. Fully furnished with kitchen and underground garage. Situated in Las Caletas, La Oliva, just south of Fuerteventuras famous Dunes. Contact GoldAcre Estates Today.

Price 83,000 Euros

For more information call 0034 928535044

or email info@goldacre-estates.com

Canary Islands is it a price you can afford, real estate in the canary islands.....

Real Estate in the canary islands is still some of the cheapest peroperty in spain today..... property for sale in Parque natural of Corralejo, Fuerteventura,, all the towns amenities 3 bedroom property just reduced by 55,000 euros. Garden and private offroad parking, views tof Las Dunas Natural Park and Isla de Lobos fuerteventuras natural park island.. today 10th february 2009. email info@goldacre-estates.com

175,000 Euros

For more information call 0034 928 535 044

or email info@goldacre-estates.com

Fabulous one bedroom Property for sale in Corralejo,Fuerteventura

Corralejo, Fuerteventura, Canaries.

This Charming one bedroom chalet style property is situated in a small private development with a large communal pool and well tended gardens. It comes fully furnished with kitchen and a sheltered patio with bougainvillea growing over the wooden pergola. With the sea shore just a 2 minute walk, the famous dunes 15 minutes walk away and all of Corralejo’s facilites within easy walking distance this is a superb property at a great price.
Because of its location this would make an ideal investment opportunity being perfect for holiday rentals.

Price 100,000 Euros

For further details call us today on 0034 928 535 044

Fabulous 2 bed Apartment for sale in Corralejo, Fuerteventura

This spacious 2 bedroom apartment close to the centre of Corralejo, Fuerteventura is on a fabulous development of just 74 properties with 2 large communal pools and 2 smaller childrens pools set in well tended gardens. The property comes with private garage and a separate secure store room. The large terrace has views to Isla de Lobos and Lanzarote.

All of Corralejos amenities are just a short walk away and the the famous Dunes just a 15 minute walk. The popular water park with its many attractions is just a short stroll along the road. With its individual moroccan style influence set in tranquil sheltered gardens this makes this apartment ideal as a home in the sun or as a great rental investment opportunity.

Price 200,000 Euros

Key Points

. Private Garage & Storeroom

. 2 Adult Pools & 2 Children Pools

. Landscaped Gardens

. Large Patio

. Views of Lanzarote & Los Lobos

. Double Glazing

. Kitchen Included

. Fitted Wardrobes

. Build size 54 sq m

An Expats Life Is A Happy One in Fuerteventura

The Canary Islands are providing more and more British and Irish expats with their ideal home in the sun

A recent survey conducted by the Nat West, discovered that almost all questioned confirmed that they have no regrets about emigrating to a sunnier climate. Approximately three quarters said that they do feel a little homesick some of the time and, without stating the obvious, the thing they missed the most was their family and friends, but with the UK being only a 4 hour flight away, most people get to visit or receive visitor regularly.

In places such as Fuerteventura, expats have a fairly easy time of it. There is a large and established expatriate community on the island which means that it is fairly easy to get hold of essential elements of British life such as East Enders, Football and Heinz Baked Beans! For those who have chosen to plump for the likes of Bulgaria or Turkey, they often find they have to make do with what’s on offer locally. Fuerteventura itself is not yet as well developed as other longer established expat communities on the Spanish Costas or other Canary islands but as a result many Fuerteventura residents have a greater level of independence and much higher integration with the local community.

The fact remains, though, that it is the younger expats who are more willing to jump feet first into the unknown. The more mature expat takes slightly longer to make the right decision!

Weather is the main reason for Britons Overseas Home Buyers

Britain’s overseas property buyers are driven by a better lifestyle and more enjoyable weather that that experienced at home in the UK. Spain (including the Canary and Baleric Islands) and Australia were highest on the list for their international real estate purchase.

Bad weather is the top reason Brits want to emigrate from the UK and Australia is their preferred destination, according to new research from savings bank Alliance and Leicester International (ALI).

It was found that 60% of retired British expats rate good weather as the factor which sets their new country of residence apart from the UK, while a higher standard of living and better quality of life were ranked second and third place (48% and 44%) respectively.

People investing in overseas businesses also stated that the weather played a big part in their overall decision.

After weather, people who emigrated for family reasons felt that the better quality of life and feeling safer in their new country were important - rating them in second and third place (45% and 40%) respectively.

Responses by destination

Australia and Spain came out top as the countries which are home to the most satisfied expats. The overwhelming majority (86%) of those living Down Under voted weather as the best thing about the country, with 80% saying the standard of living and 73% quality of life were what they liked best about the country. However, a massive 87% said that the worst factor about living in Australia was that they were so far away from their family.

Spain also fared extremely well, with 92% putting weather at the top of the list, while 85% appreciated the slower pace of living as well as feeling safer in Spain than in the UK.

New Zealand also scored highly in the poll due to its favourable costs and high quality of life. Nearly two thirds (62%) said standard of living and quality of life were the best things about living abroad as opposed to the UK. In recent research by ALI, New Zealand topped the poll for both of these, as a result of its low costs for food, drink and fuel as well as a favourable tax regime.

Top ten reasons expats rate their new country over the UK.

1. Better weather (57%)

2. Better quality of life (56%)

3. Higher standard of living (53%)

4. Safer / lower crime rate (49%)

5. Slower pace of life (36%)

6. Higher income (30%)

7. Better food (28%)

8. The expat lifestyle (27%)

9. Mixing with the local people (26%)

10. A more social society (19%)

Most favoured reason for living in Spain

Weather Standard of living Quality of life Safer Slower pace Food

Australia 87% 80% 73% 47% 47% 33%

France 75% 50% 75% 75% 37.5% 75%

New Zlnd 62.5% 62.5% 62.5% 62.5% 50% 50%

Spain 92% 69% 69% 85% 85% 38%

Canada 25% 62.5% 50% 62.5% 37.5% 12.5%

UAE 60% 60% 60% 60% 10% 50%

USA 59% 27% 41% 14% 14% 18%


Source OPP

A Stunning Villa now at a Stunning Price in Fuerteventura

This unique and creatively designed 3 bedroom villa has been reduced to this exceptional price. The property is on a plot of 1232 sq m with fabulous views to the sea and Lanzarote and is situated in the tranquil and exclusive area of Villaverde. The village has all the facilities for daily life but the villa is situated just 10 minutes outside of the bustling town of Corralejo with its fabulous dunas beaches and the small fishing village of El Cotillo.

This lovely villa will make the perfect home or offer an ideal opportunity for rental investment.

Price 285,000 Euros

For further details call us today on 0034 928 535 044

The Canary Islands Have The Best Cheese In The World

A co-operative from the Spanish islands beats 2,400 other cheeses from around the globe to take crown
The Canary Islands has triumphed at the World Cheese Awards 2008. It was awarded the world champion crown for Queso Arico curado pimentón cheese. The award was very timely since the next World Cheese competition in 2009 is set to take place in the Canary Islands.
The champion cheese was chosen by a panel of 12 experts chaired by Nigel Barden and including celebrity chef Antony Worrall Thompson and Mark Hix.Queso Arico curado pimentón is one of several cheeses produced by the co-operative’s 21 employees, and is made using the milk of Canary Island goats and animal rennet, which is then pressed and regularly brushed with paprika and gofia, a powdered cereal unique to the islands, before being matured for around six months. The cheese has been made for generations, but until now, has rarely traveled outside of the islands and mainland Spain.
The canarians beat off the other finalists of Von Muhlenen Le Gruyère AOC, Fourme d’Ambert produced by Marin Père et Fils and a Canadian soft cow’s milk cheese Cendré de LuneCo-operative secretary, Antonio Gonzales Bravo, said: It’s a dream come true for our co-operative – we simply can’t believe it!”
The award was presented by Michelin-starred chef Richard Corrigan at the RDS Simmons court in Dublin.

New, Villa for sale in Fuerteventura, Canary Islands

This is the latest edition to the Goldacre Property portfolio. A fabulous 4 bedroom well designed villa situated in a village just outside Corralejo. This villa has been very tastefully upgraded & will make a very comfortable home. Includes a seperate high quality kitchen, private parking, roller mosquito nets and shutters on all windows, and much more.

Price 210,000 Euros

The villa is situated just a few minutes outside of Corralejo and just 10 minutes from the fabulous dunas beaches.

New Ryanair Flights From Liverpool John Lennon Airport

Budget airline Ryanair has announced six new routes that will be operating from Liverpool John Lennon Airport to European destinations such as Gdansk, Szczecin, Faro, Knock, Tenerife, Fuerteventura and the Canary Islands. A seventh route will begin on the 3rd of November and will be operating to Paris Beauvais. Commenting on the new routes was Deputy CEO Neil Pakey who said; "We’re pleased to announce the seven new routes from JLA with Ryanair to a great range of destinations which will no doubt appeal to many passengers throughout the North West, especially the sunny Canary Islands for some winter sun."

The news coincides with the start of 14 brand-new services from Birmingham Airport on the 28th October - to Malaga, Alicante, Murcia, Palma, Katowice, Krakow, Frankfurt (Hahn), Fuerteventura, Prague, Szczecin, Derry, Dusseldorf (Weeze), Kaunas and Bologna, and from Stanstead eight new routes - to Malaga, Ibiza, Madrid, Fuerteventura, Tenerife South, Katowice, Bologna and Zweibrucken. Ryanair’s Sales and Marketing UK Executive Laura McCormack said: “We are delighted to introduce these fantastic new routes from Birmingham Airport today. There is a great demand for low-cost travel in Birmingham. While other airlines are pulling flights and reducing frequencies, Ryanair is committed to growth”.

To celebrate, Ryanair are offering flights from Birmingham across their network from an amazing £1 one way including airport taxes and charges.

We are still in love with Spain

Despite the fact that the Spanish property market is suffering a drought in terms of buyer activity at the moment, don’t be fooled for a second into thinking that we Brits have fallen out of love with Spain. For one thing, there has to be more to Spain than its property market to have attracted something in the region of 760,000 Brits to relocate here.
The allure of Spain is far more than the weather as well, and it’s an evergreen destination – i.e., no matter how many slings and arrows of outrageous fortune fall on Spain, we cannot help loving it enough to holiday or relocate there.
Spain has it everything, all regions of the nation are accessible from all parts of the UK and usually for a fair price. Not only that, but the climate is fantastic with Spain averaging 137 days of sunshine compared to just the 52 that we have each year in the UK, in fact the Canary Islands have a 52 weeks of sunshine. The culture is rich and diverse in Spain, the cuisine is thoroughly appealing, the wine is delicious, the history of the nation is fascinating, and then to cap it all off, the scenery in Spain is breathtakingly magnificent
If you’re not yet convinced however, consider the fact that the nation is also vast, and because of Spain’s landmass you have such diversity, therefore there is a part of Spain that appeals to each and every one of us. For those who prefer a more temperate climate, Northern Spain is cooler for example, and for those who want as much sunshine as possible, the Costas are ideal. Alternatively, if you’re a winter sports enthusiast or a lover of the great outdoors, what about the Pyrenees or the Sierra Nevada, and if you prefer island living then there are the Spanish Balearic and Canary Islands of course. And there is even a property type and a property price for everyone nowadays.
As the underlying appeal of Spain has not been damaged by the falling property prices, many Britons are taking advantage of the fact that you can now finally find truly good value for money in the Spanish real estate marketplace. If you’re seriously contemplating a move then as a buyer you’re best placed to be the one doing the negotiating. In fact, it could be that there has never been a better time to buy in!
And finally, the lifestyle that relocating Britons find in Spain could not be further removed from what we are used to in the UK. For example, there is far more emphasis on the family and on relaxing and enjoying life in Spain than there is in the UK. Brits quickly adapt to this change in culture and realise what they have been missing out on by constantly being on the go in the UK and living to work rather than just working enough to live
There is so much in Spain’s favour that we Brits cannot do anything about the love and passion we feel for this nation. It appeals to us on all levels, and now that Spanish house prices are falling and it is therefore becoming easier to buy in to the inimitably enjoyable and good lifestyle that Spain offers, so those Brits already living the dream in Spain can soon expect to be joined by a whole host of new British neighbours!

Villa for Sale in Villaverde, Fuerteventura, Canary Islands

Situated in the sort after village of Villaverde this large villa enjoys stunning views to Lanzarote from the garden and the large picture windows. The third bedroom is a self contained studio with bathroom & kitchen. With Corralejo and the beaches just a 10 minute drive away this is a great opportunity to own you home.

Priced at 390,000 Euros.

For further details call us today on 0034 928 535 044

prtment for sale in Corralejo, Fuerteventura, Canary islands

Situated within easy walking distance of central Corralejo this ground floor apartment comes with its own private terrace and a large communal swimming pool. The property comes fully furnished with fitted kitchen and is in a small quiet development. The property has been competitively priced at 95,000 Euros

Villa for sale in Fuerteventura, Canary Islands

This beautiful villa in Fuerteventura is in the sort after village of Villaverde and is set in well kept mature gardens. The property has a large living room. Most facilities are in the village with Corralejo just 10 minutes away. With stunning views across to Lanzarote this property must be viewed and now has been reduced in price to 379,000 Euros

For further details call us today on 0034 928 53 50 44

GoldAcre Estates Launches The Exclusive Gold Property Portfolio

GoldAcre Estates has launched the Exclusive Gold Portfolio.
All these properties are only available through GoldAcre Estates and all have been chosen for their exceptional value. Our wide selection of exclusive homes offers the widest choice whether you are looking for a villa or an apartment we are sure we have something special to suit you.
If the idea of building your own home is your dream then we also have a number of plots and fincas available. We are continually striving to provide our clients with the best that can be offered in Fuerteventura today so enjoy our Exclusive Gold Portfolio. For information on any of these properties visit our exclusive gold portfolio site or please call us on 0034 928 537 937.