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 by an authorisation of the European Commission.
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 trading of goods can only set up within certain areas designated for these purposes.
In April, the European Union will decide on the proposal to eliminate that restriction.