Canary Islands special zone (ZEC)

La Palma counts with a low tax regime namely the “Zona Especial Canaria”(ZEC – Canary Islands Special Zone). This fiscal incentive was authorised by the European Commission to promote the social and economic development of the archipelago.

The most attractive advantage is the low corporate tax rate of 4%, instead of the 28 %, applied in the rest of Spain.

ZEC Document

Requirements to join the ZEC:

•Create a new company.
• Minimum investment of 50,000 € (100,000 in the capital islands) in fixed assets related to the activity, within the first two years from the time of its registration in the ZEC.
• Create at least three jobs (five in the capital islands) within the six months following the time of the registration, and maintain this average during the time that the benefits are enjoyed.
• At least one of the directors must reside in the Canary Islands.
• Operate in any one of the sectors listed in the authorized activities (the audiovisual sector is included).

For more information visit, send an email to, or call the telephone number +34 922 298010.

Tax incentives for Film Producers