The Canary Islands is the perfect shared services and outsourcing location with the aim of outsourcing high and low value operations. Due to the legal certainty of a European country, the shared services and outsourcing model allows smaller tasks to be handed to a professional and cost-effective operator.

Talented workforce:

Due to the many universities and specialist training centres, there is a skilled workforce that are familiar with working in multicultural environments, the Canary Islands host around 40 different nationalities speaking about 16 languages. The workforce is also familiar with customer oriented work which is facilitated by the established connections from the Canary Islands.

Connections:

A great reason to set up a business or outsourcing services in the Canary Islands is its excellent connections. There are hundreds of daily flights from the islands to Europe, Africa and America and so it is easy to facilitate a mobile workforce. Furthermore, the modern telecommunications are reliable and the convenient time zone allows customer service to be provided to all parts of Europe. Main telecommunications companies are able to operate from the Canary Islands due to the submarine fibre-optic cables that run from the islands: 9 with Europe, 4 with Africa and 2 with America. This already established modern infrastructure permits any outsourcing company to establish itself easily in the Canary Islands.

Financial incentives:

Operating costs in the Canary Islands are a lot less than in mainland Western Europe due to lower costs of living, for example fuel prices, rent, internet and electricity prices are all significantly cheaper in the Canary Islands.

As well as having lower living costs, the Canary Islands also has tax incentives:

• The Canary Islands has the lowest corporate tax rate in Europe at only 4% and 7% VAT.
• The Canary Islands offer R&D tax credits of 45% for research and development in technological innovation.
• Reserve for Investments in the Canary Islands (RIC)- up to 90% tax relief
• The Canary Islands have their own Economic and Tax System (REF) which is fully approved by the EU and applies double taxation conventions and fiscal transparency.