I'm looking into moving my consultancy business to the Canary Islands to enjoy the ZEC tax regime (4% corporate tax).
The requirements are:
- Invest 50-100k in fixed assets
- Hire 3-5 employees
Being a service business I don't need fixed assets so I was thinking of purchasing real estate and rent it out on the side. Is it a valid interpretation even though my main income would still be the consultancy business?
Is there a restriction on employees nationality or anyone legally resident in Canary Islands would qualify? Also, can I count myself in if I give myself a salary as a director?
I've been looking at official information online but I feel like it's very generic and leaves open roezec for easy rejections, I'd love to hear from someone who went through this.