ECONOMIC PROMOTION AGENCY OF GRAN CANARIA

IUMA has research laboratories for the design, characterisation, verification, packaging, inspection, and assembly and test of semiconductor wafers, integrated circuits (logic, RF, MMIC, sensors), printed boards, and electronic equipment, and is a partner in projects with various multinational companies in the sector.

It is a member of Spanish Open Hardware Alliance SOHA, and the RISC-V network of centres with capabilities in that processor architecture, it is a recognised NVIDIA GPU Research Centre, and a member of the HiPEAC “High Performance, Edge And Cloud computing” European network of excellence. IUMA is also an academic member of AENEAS and as such linked to the Chips Joint Undertaking of the EU.

The Canary Islands Special Zone (ZEC) is a low tax zone created within the framework of the Canary Islands Economic and Tax Regime (REF) for the promotion of the economic and social development of the Islands and to diversify their production structure. ZEC was authorized by the European Commission in January 2000 and it is regulated in the Law number 19/94 of the 6th of July, 1994.

In general terms, any entity or branch which intends to carry out an industrial, commercial or service activity included in the list of authorized activities.

ZEC offers a reduced 4% rate of Corporate Income Tax a feature particularly attractive to investors from non-EU countries due to the absence of withholding tax on repatriated dividends. Requirements: 

• It must be a newly-created entity or branch with its registered address and effective place of management within the geographical area of the ZEC.
• At least one member of the administration must reside in the Canary Islands.
• It must make a minimum investment of 100,000 euros in fixed assets related to the activity within the first two years following its registration.
• It is necessary to create, at least, five jobs during the first six months following its registration and this average must be maintained during the time that the benefits are enjoyed.
• It is necessary to conduct activities that are permitted in the ZEC.