Canary Islands ZEC Registration is Running Out

Canary Islands ZEC registration is running out. Tax benefits for European Companies wanting to be based in the Canary Islands Spain

John Goldacre Managing Director of GoldAcre Estates who have their head office based in Fuerteventura in the Canary Islands, Spain, stated that some European companies are potential loosing out on the ability to reduce their corporate tax payments by not taking up the opportunity to form Tax entities in the Canary Islands which consists of the 7 Islands of Fuerteventura, Tenerife, Gran Canaria, Lanzarote, La Palma, La Gomera and El Hierro .

These places offer some serious advantages over operating companies from mainland Spain and other European countries and it is surprising that more tax advisors and accountants have not advised their clients of these unique opportunities

Office and Real Estate costs in the Canary Islands offer excellent prices for accommodating the offices and private homes and the links to mainland Europe are well served by major European Airlines with daily services to Madrid and other Spanish mainland airports, Many airports throughout Germany, all major and regional airports throughout the United Kingdom, Ireland, France, Sweden, Holland, Poland, Russia and many more
What is the Canary Islands Special Zone?

The Canary Islands Special Zone is a low tax zone created within the framework of the Canary Islands Economic and Fiscal Regime (REF) for the purpose of promoting the economic and social development of the Islands and diversifying their production structure.
The Canary Islands Special Zone was authorised by the European Commission in January 2000 and extended in December 2006. The Spanish Government subsequently adapted the regulations concerning the ZEC contained in the Canary Islands Economic and Fiscal Regime, in accordance with the terms of the corresponding authorisations (Title V of Law 19/1994, as amended by Royal Decree-Law 12/2006 and implemented by Royal Decree-Law 1758/2007).
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 on the authorisation of the European Commission. The final date for authorisation to register in the Official ZEC Register (ROEZEC) will initially be 31 December 2013.
Where can ZEC Entities be set up?

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 commercialisation of goods may only set up within certain areas designated for these purposes.
These areas are located throughout the Islands as follows
» Gran Canaria: 150 hectares in 5 separated zones
· Puerto de La Luz (Las Palmas port) - Las Palmas de Gran Canaria Conurbation - Arucas
· Arinaga - Bahía de Formas
· Area of the Telde Industrial Zone
· Area extending around the airport - Las Majoreras
· Northeast Zone
» Tenerife: 150 hectares in 5 separated zones
· Metropolitan Area
· Region of Valle de Güimar
· Region of Valle de la Orotava
· Port area of Santa Cruz de Tenerife
· Area extending around the Airport - Granadilla Industrial Estate - Arico Environmental Complex
» La Palma: 50 hectares in 2 separated zones
· West Industrial Area
· East Industrial Area
» Fuerteventura: 25 hectares
· Port of Puerto del Rosario - Fuerteventura airport - Former airport facility of Los Estancos - Llano de la Casita (in El Matorral) and Casa de Pancho Sanabria
» Lanzarote: 25 hectares
· Los Mármoles port and industrial area - Altavista East - Logistics Zone
» El Hierro: 25 hectares
· El Majano Industrial Estate - Meseta de Nisdafe – Plots next to the zone of Tiñor
» La Gomera: 25 hectares
· San Sebastián de La Gomera Industrial Area

Corporate Income Tax
ZEC entities are subject to the Corporate Income Tax in force in Spain, at a reduced rate of 4%. As of 2008, the Corporate Income Tax rate in Spain ranges from 25 to 30%. The special rate of 4% shall be applied to a maximum amount of the tax base, depending on the number of jobs created and the type of activity carried out by the ZEC Entity.
Net Employment Creation
Industrial Activities
Service Activities
Other services *
From 3 to 8 workers
€1,800,000
€1,500,000
€1,125,000
More than 8 and up to 12 workers
€2,400,000
€2,000,000
€1,500,000
More than 12 and up to 20 workers
€3,600,000
€3,000,000
€2,250,000
More than 20 and up to 50 workers
€9,200,000
€8,000,000
€6,000,000
More than 50 and up to 100 workers
€21,600,000
€18,000,000
€13,500,000
More than 100 workers
€120,000,000
€100,000,000
€75,000,000
*“Other Services” are considered to be: wholesale trade and commission trade (except of motor vehicles and motorcycles); activities of travel agencies and tour operators; other tourist assistance activities; computer and related activities; legal, accounting and book-keeping activities; tax consultancy; market research and public opinion polling; business and management consultancy; management activities of holding companies; and advertising and public relations services.
Registration in the oficial ZEC register, ROEZEC


AUTHORIZATION PROCEDURE
Investors wishing to set up in the ZEC are required to obtain the authorisation of the Consortium Board in order to become a ZEC Entity. The procedure for obtaining authorisation is instigated by the interested party on presentation of the following documents at the offices of the Consortium:
Application for autorisation to constitute a ZEC Entity and manual for compiling the report
Receipt for having made a deposit, or a guarantee, for the amount of the fee for registering in the Official ZEC Register (ROEZEC). The Consortium Board is responsible for processing and deciding on applications to become ZEC Entities. Successful authorisations will be notified within two months of the date of presentation of the application.

Once authorisation has been granted by the Consortium Board, the entity will be entitled to register in the ROEZEC on presentation of the following documents:
Application for registration in the ROEZEC
Taxpayer Identification Number (CIF)
Documentation certifying the legal constitution of the entity presented at the Mercantile Register, accompanied by a notary copy stamped “copia simple”.
Constituting a ZEC Entity

In order to register an entity in the ROEZEC, the new company must be legally incorporated and registered in the Mercantile Register. The future ZEC Entity must be a newly-created legal entity, which means it must assume one of the legal forms of corporation and be constituted in accordance with Spanish legislation.

The most common legal forms of corporation in Spain are:
Sociedad Anónima, SA. (Joint-Stock Company): a trading company in which the capital, which is divided into shares, is made up of funds provided by the shareholders, who are not personally liable for company debts. The minimum capital is 10,000,000 ptas. (approx. €60,101). These types of companies are constituted by public deed and must be registered in the Mercantile Register. They are governed by the revised text of the Law on Joint-Stock Companies (SA), ratified by Royal Legislative Decree 1564/1989.
• Sociedad Limitada, SL. (Limited Liability Company): a trading company in which the capital, which is divided into shareholding stakes known as participations, is made up of funds provided by all the participation holders, who are not personally liable for company debts. The minimum capital is 500,000 ptas. (approx. €3,005) and there is no upper limit to the capital. Limited Liability Companies (SL) are constituted by public deed and must be registered in the Mercantile Register. They are governed by Law 2/1995 on Limited Liability Companies.
The general procedures for setting up a company in the Canary Islands are:
1. Drawing up of the Articles of Association, which must be set down in a public deed certified by a notary.
2. Obtaining a provisional Taxpayer Identification Number card from the Spanish State Tax Authority and registering as a taxpayer.
3. Registering the public deed of constitution in the Mercantile Register.

FEES PAYABLE BY ZEC ENTITIES
ZEC Entities are required to pay the following fees:
1. Fee for registration in the ROEZEC
2. Annual fee for remaining on the ROEZEC


DETAILED LIST OF ACTIVITIES (NACE)
PRODUCTION, TRANSFORMATION AND HANDLING ACTIVITIES AND WHOLESALE DISTRIBUTION OF GOODS:
FISHING. NACE B.
1. Fishing (05.01)
2. Fish farming (05.02)
MANUFACTURE OF FOOD PRODUCTS, BEVERAGES AND TOBACCO. NACE DA.
1. Production, processing and preserving of meat and meat products (15.1)
• Production and preserving of meat (15.11)
• Production and preserving of poultrymeat (15.12)
• Production of meat and poultrymeat products (15.13)
2. Processing and preserving of fish and fish products (15.2)
3. Processing and preserving of fruit and vegetables (15.3)
• Processing and preserving of potatoes (15.31)
• Manufacture of fruit and vegetable juice (15.32)
• Processing and preserving of fruit and vegetables n.e.c. (15.33)
4. Manufacture of vegetable and animal oils and fats (15.4)
• Manufacture of crude oils and fats (15.41)
• Manufacture of refined oils and fats (15.42)
• Manufacture of margarine and similar edible fats (15.43)
5. Manufacture of dairy products (15.5)
• Operation of dairies and cheese making (15.51)
• Manufacture of ice cream (15.52)
6. Manufacture of grain mill products, starches and starch products (15.6)
• Manufacture of grain mill products (15.61)
• Manufacture of starches and starch products (15.62)
7. Manufacture of prepared animal feeds (15.7)
• Manufacture of prepared feeds for farm animals (15.71)
• Manufacture of prepared pet foods (15.72)
8. Manufacture of other food products (15.8)
• Manufacture of bread; manufacture of fresh pastry goods and cakes (15.81)
• Manufacture of rusks and biscuits; manufacture of preserved pastry goods and cakes (15.82)
• Manufacture of sugar (15.83)
• Manufacture of cocoa; chocolate and sugar confectionery (15.84)
• Manufacture of macaroni, noodles, couscous and similar farinaceous products (15.85)
• Processing of tea and coffee (15.86)
• Manufacture of condiments and seasonings (15.87)
• Manufacture of homogenized food preparations and dietetic food (15.88)
Information Bulletin
2
• Manufacture of other food products n.e.c. (15.89)
9. Manufacture of beverages (15.9)
• Manufacture of distilled potable alcoholic beverages (15.91)
• Production of ethyl alcohol from fermented materials (15.92)
• Manufacture of wines (15.93)
• Manufacture of cider and other fruit wines (15.94)
• Manufacture of other non-distilled fermented beverages (15.95)
• Manufacture of beer (15.96)
• Manufacture of malt (15.97)
• Production of mineral waters and soft drinks (15.98)
10. Manufacture of tobacco products (16.0)
MANUFACTURE OF MADE-UP TEXTILE ARTICLES AND ARTICLES OF FUR.
NACE 17.4, 17.5, 17.6, 17 and 18.
1. Manufacture of made-up textile articles, except apparel (17.4)
2. Manufacture of other textiles (17.5)
• Manufacture of carpets and rugs (17.51)
• Manufacture of cordage, rope, twine and netting (17.52)
• Manufacture of non-wovens and articles made from non-wovens, except apparel (17.53)
• Manufacture of other textiles n.e.c. (17.54)
3. Manufacture of knitted and crocheted fabrics (17.6)
4. Manufacture of knitted and crocheted articles (17.7)
• Manufacture of knitted and crocheted hosiery (17.71)
• Manufacture of knitted and crocheted pullovers, cardigans and similar articles (17.72)
5. Manufacture of wearing apparel; dressing and dyeing of fur (18)
• Manufacture of leather clothes (18.1)
• Manufacture of other wearing apparel and accessories (18.2)
• Manufacture of workwear (18.21)
• Manufacture of other outerwear (18.22)
• Manufacture of underwear (18.23)
• Manufacture of other wearing apparel and accessories n.e.c. (18.24)
• Dressing and dyeing of fur; manufacture of articles of fur (18.3)
MANUFACTURE OF LEATHER AND LEATHER PRODUCTS. NACE DC.
1. Tanning and dressing of leather (19.1)
2. Manufacture of luggage, handbags and the like, saddlery and harnesses (19.2)
3. Manufacture of footwear (19.3)
MANUFACTURE OF PULP, PAPER AND PAPER PRODUCTS; PUBLISHING AND PRINTING. NACE DE.
1. Manufacture of pulp, paper and paper products (21)
• Manufacture of pulp (21.11)
• Manufacture of paper and paperboard (21.12)
• Manufacture of corrugated paper and paperboard and of containers of paper and paperboard (21.21)
• Manufacture of household and sanitary goods and of toilet requisites (21.22)
• Manufacture of paper stationery (21.23)
• Manufacture of wallpaper (21.24)
• Manufacture of other articles of paper and paperboard n.e.c. (21.25)
2. Publishing (22.1)
• Publishing of books (22.11)
• Publishing of newspapers (22.12)
• Publishing of journals and periodicals (22.13)
• Publishing of sound recordings (22.14)
• Other publishing (22.15)
3. Printing and service activities related to printing (22.2)
• Printing of newspapers (22.21)
• Printing n.e.c. (22.22)
• Bookbinding (22.23)
• Pre-press activities (22.24)
• Ancillary activities related to printing (22.25)
4. Reproduction of recorded media (22.3)
• Reproduction of sound recording (22.31)
• Reproduction of video recording (22.32)
• Reproduction of computer media (22.33)
MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS. NACE 24.
1. Manufacture of basic chemicals (24.1)
• Manufacture of industrial gases (24.11)
• Manufacture of dyes and pigments (24.12)
• Manufacture of other inorganic basic chemicals (24.13)
Detailed List of Activities

• Manufacture of other organic basic chemicals (24.14)
• Manufacture of fertilizers and nitrogen compounds (24.15)
• Manufacture of plastics in primary forms (24.16)
• Manufacture of synthetic rubber in primary forms (24.17)
2. Manufacture of pesticides and other agro-chemical products (24.2)
3. Manufacture of paints, varnishes and similar coatings, printing ink and mastics (24.3)
4. Manufacture of pharmaceuticals, medicinal chemicals and botanical products (24.4)
• Manufacture of basic pharmaceutical products (24.41)
• Manufacture of pharmaceutical preparations (24.42)
5. Manufacture of soap and detergents, cleaning and polishing preparations (24.51)
6. Manufacture of perfumes and toilet preparations (24.52)
7. Manufacture of other chemical products (24.6)
• Manufacture of explosives (24.61)
• Manufacture of glues and gelatines (24.62)
• Manufacture of essential oils (24.63)
• Manufacture of photographic chemical material (24.64)
• Manufacture of prepared unrecorded media (24.65)
• Manufacture of other chemical products n.e.c. (24.66)
8. Manufacture of man-made fibres (24.7)
PREFABRICATED BUILDING PRODUCTS. NACE 20.2, 20.3, 24.3, 25.2, 26.1, 26.2, 26.3, 26.4, 26.7, 28.1, 28.12, 28.2, 28.63, 28.7, 36.1, 45.25, 45.3 and 45.4.
1. Manufacture of veneer sheets; manufacture of plywood, laminboard, particle board, fibre board and other panels and boards (20.2)
2. Manufacture of builders’ carpentry and joinery (20.3)
3. Manufacture of paints, varnishes and similar coatings, printing ink and mastics (24.3)
4. Manufacture of plastic products (25.2)
• Manufacture of plastic plates, sheets, tubes and profiles (25.21)
• Manufacture of plastic packing goods (25.22)
• Manufacture of builders’ ware of plastic (25.23)
• Manufacture of other plastic products (25.24)
5. Manufacture of glass and glass products (26.1)
• Manufacture of flat glass (26.11)
• Shaping and processing of flat glass (26.12)
• Manufacture of hollow glass (26.13)
• Manufacture of glass fibres (26.14)
• Manufacture and processing of other glass, including technical glassware (26.15)
6. Manufacture of non-refractory ceramic goods other than for construction purposes; manufacture of refractory ceramic products (26.2)
• Manufacture of ceramic household and ornamental articles (26.21)
• Manufacture of ceramic sanitary fixtures (26.22)
• Manufacture of ceramic insulators and insulating fittings (26.23)
• Manufacture of other technical ceramic products (26.24)
• Manufacture of other ceramic products (26.25)
• Manufacture of refractory ceramic products (26.26)
7. Manufacture of ceramic tiles and flags (26.3)
8. Manufacture of bricks, tiles and construction products, in baked clay (26.4)
9. Cutting, shaping and finishing of ornamental and building stone (26.7)
10. Manufacture of structural metal products (28.1)
• Manufacture of metal structures and parts of structures (28.11)
• Manufacture of builders’ carpentry and joinery of metal (28.12)
11. Manufacture of tanks, reservoirs and containers of metal; manufacture of central heating radiators and boilers (28.2)
• Manufacture of tanks, reservoirs and containers of metal (28.21)
• Manufacture of central heating radiators and boilers (28.22)
12. Manufacture of locks and hinges (28.63)
13. Manufacture of other fabricated metal products (28.7)
• Manufacture of steel drums and similar containers (28.71)
• Manufacture of light metal packaging (28.72)
• Manufacture of wire products (28.73)
• Manufacture of fasteners, screw machine products, chain and springs (28.74)
• Manufacture of other fabricated metal products n.e.c. (28.75)
4 Information Bulletin

14. Manufacture of furniture (36.1)
• Manufacture of chairs and seats (36.11)
• Manufacture of other office and shop furniture (36.12)
• Manufacture of other kitchen furniture (36.13)
• Manufacture of other furniture (36.14)
• Manufacture of mattresses (36.15)
15. Other construction work involving special trades (45.25)
16. Building installation (45.3)
• Installation of electrical wiring and fittings (45.31)
• Insulation work activities (45.32)
• Plumbing (45.33)
• Other building installation (45.34)
17. Building completion (45.4)
• Plastering (45.41)
• Joinery installation (45.42)
• Floor and wall covering (45.43)
• Painting and glazing (45.44)
• Other building completion (45.45)
MANUFACTURE OF MACHINERY AND EQUIPMENT n.e.c. NACE 29.
1. Manufacture of machinery for the production and use of mechanical power, except aircraft, vehicle and cycle engines (29.1)
• Manufacture of engines and turbines, except aircraft, vehicle and cycle engines (29.11)
• Manufacture of pumps and compressors ( 29.12)
• Manufacture of taps and valves (29.13)
• Manufacture of bearings, gears, gearing and driving elements (29.14)
2. Manufacture of other general purpose machinery (29.2)
• Manufacture of furnaces and furnace burners (29.21)
• Manufacture of lifting and handling equipment (29.22)
• Manufacture of non-domestic cooling and ventilation equipment (29.23)
• Manufacture of other general purpose machinery n.e.c. (29.24)
3. Manufacture of agricultural and forestry machinery (29.3)
• Manufacture of agricultural tractors (29.31)
• Manufacture of other agricultural and forestry machinery (29.32)
4. Manufacture of machine-tools (29.4)
• Manufacture of portable hand held power tools (29.41)
• Manufacture of other metalworking machine tools (29.42)
• Manufacture of other machine tools n.e.c. (29.43)
5. Manufacture of other special purpose machinery (29.5)
• Manufacture of machinery for metallurgy (29.51)
• Manufacture of machinery for mining, quarrying and construction (29.52)
• Manufacture of machinery for food, beverage and tobacco processing (29.53)
• Manufacture of machinery for textile, apparel and leather production (29.54)
• Manufacture of machinery for paper and paperboard production (29.55)
• Manufacture of other special purpose machinery n.e.c. (29.56)
6. Manufacture of weapons and ammunition (29.6)
7. Manufacture of domestic appliances n.e.c. (29.7)
• Manufacture of electric domestic appliances (29.71)
• Manufacture of non-electric domestic appliances (29.72)
MANUFACTURE OF ELECTRICAL AND OPTICAL EQUIPMENT. NACE DL.
1. Manufacture of office machinery and computers (30.0)
• Manufacture of office machinery (30.01)
• Manufacture of computers and other information processing equipment (30.02)
2. Manufacture of electrical machinery and apparatus n.e.c. (31)
• Manufacture of electric motors, generators and transformers (31.1)
3. Manufacture of electricity distribution and control apparatus (31.2)
4. Manufacture of insulated wire and cable (31.3)
5. Manufacture of accumulators, primary cells and primary batteries (31.4)
6. Manufacture of lighting equipment and electric lamps (31.5)
7. Manufacture of electrical equipment n.e.c. (31.6)
• Manufacture of electrical equipment for engines and vehicles n.e.c. (31.61)
• Manufacture of other electrical equipment n.e.c. (31.62)
5 Detailed List of Activities

8. Manufacture of radio, television and communication equipment and apparatus (32)
• Manufacture of electronic valves and tubes and other electronic components (32.1)
• Manufacture of television and radio transmitters and apparatus for line telephony and line telegraphy (32.2)
• Manufacture of television and radio receivers, sound or video recording or reproducing apparatus and associated goods (32.3)
9. Manufacture of medical, precision and optical instruments, watches and clocks (33)
• Manufacture of medical and surgical equipment and orthopaedic appliances (33.1)
• Manufacture of instruments and appliances for measuring, checking, testing, navigating and other purposes, except industrial process control equipment (33.2)
• Manufacture of industrial process control equipment (33.3)
• Manufacture of optical instruments and photographic equipment (33.4)
• Manufacture of watches and clocks (33.5)
MANUFACTURE OF AIRCRAFT AND SPACECRAFT. NACE 35.30.
MANUFACTURE OF FURNITURE; MANUFACTURING N.E.C. NACE 36.
1. Manufacture of furniture (36.1)
• Manufacture of chairs and seats (36.11)
• Manufacture of other office and shop furniture (36.12)
• Manufacture of other kitchen furniture (36.13)
• Manufacture of other furniture (36.14)
• Manufacture of mattresses (36.15)
2. Manufacture of jewellery and related articles (36.2)
• Striking of coins (36.21)
• Manufacture of jewellery and related articles n.e.c. (36.22)
3. Manufacture of musical instruments (36.3)
4. Manufacture of sports goods (36.4)
5. Manufacture of games and toys (36.5)
6. Miscellaneous manufacturing n.e.c. (36.6)
• Manufacture of imitation jewellery (36.61)
• Manufacture of brooms and brushes (36.62)
• Other manufacturing n.e.c. (36.63)
RECYCLING. NACE 37.
1. Recycling of metal waste and scrap (37.1)
2. Recycling of non-metal waste and scrap (37.2)
WHOLESALE TRADE AND COMMISSION TRADE. NACE 50 and 51.
1. Sale of motor vehicles (50.1)
2. Maintenance and repair of motor vehicles (50.2)
3. Sale of motor vehicle parts and accessories (50.3)
4. Sale, maintenance and repair of motorcycles and related parts and accessories (50.4)
5. Retail sale of automotive fuel (50.5)
6. Wholesale on a fee or contract basis (51.1)
• Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-finished goods (51.11)
• Agents involved in the sale of fuels, ores, metals and industrial chemicals (51.12)
• Agents involved in the sale of timber and building materials (51.13)
• Agents involved in the sale of machinery, industrial equipment, ships and aircraft (51.14)
• Agents involved in the sale of furniture, household goods, hardware and ironmongery (51.15)
• Agents involved in the sale of textiles, clothing, footwear and leather goods (51.16)
• Agents involved in the sale of food, beverages and tobacco (51.17)
• Agents specializing in the sale of particular products or ranges of products n.e.c. (51.18)
• Agents involved in the sale of a variety of goods (51.19)
7. Wholesale of agricultural raw materials and live animals (51.2)
• Wholesale of grain, seeds and animal feeds (51.21)
• Wholesale of flowers and plants (51.22)
• Wholesale of live animals (51.23)
• Wholesale of hides, skins and leather (51.24)
• Wholesale of unmanufactured tobacco (51.25)
8. Wholesale of food, beverages and tobacco (51.3)

6 Information Bulletin

• Wholesale of fruit and vegetables (51.31)
• Wholesale of meat and meat products (51.32)
• Wholesale of dairy produce, eggs and edible oils and fats (51.33)
• Wholesale of alcoholic and other beverages (51.34)
• Wholesale of tobacco products (51.35)
• Wholesale of sugar and chocolate and sugar confectionery (51.36)
• Wholesale of coffee, tea, cocoa and spices (51.37)
• Wholesale of other food, including fish, crustaceans and molluscs (51.38)
• Non-specialized wholesale of food, beverages and tobacco (51.39)
9. Wholesale of household goods (51.4)
• Wholesale of textiles (51.41)
• Wholesale of clothing and footwear (51.42)
• Wholesale of electrical household appliances and radio and television goods (51.43)
• Wholesale of china and glassware, wallpaper and cleaning materials (51.44)
• Wholesale of perfume and cosmetics (51.45)
• Wholesale of pharmaceutical goods (51.46)
• Wholesale of other household goods (51.47)
10. Wholesale of non-agricultural intermediate products, waste and scrap (51.5)
• Wholesale of solid, liquid and gaseous fuels and related products (51.51)
• Wholesale of metals and metal ores (51.52)
• Wholesale of wood, construction materials and sanitary equipment (51.53)
• Wholesale of hardware, plumbing and heating equipment and supplies (51.54)
• Wholesale of chemical products (51.55)
• Wholesale of other intermediate products (51.56)
• Wholesale of waste and scrap (51.57)
11. Wholesale of machinery, equipment and supplies (51.8)
• Wholesale of machine-tools (51.81)
• Wholesale of mining, construction and civil engineering machinery (51.82)
• Wholesale of machinery for the textile industry and of sewing and knitting machines (51.83)
• Wholesale of computers, computer peripheral equipment and software (51.84).
• Wholesale of other office machinery and equipment (51.85)
• Wholesale of other machinery for use in industry, trade and navigation (51.87)
• Wholesale of agricultural machinery and accessories and implements, including tractors (51.88)
12. Other wholesale (51.9)
PRODUCTION OF RENEWABLE ENERGY. NACE 40.10.
SERVICE ACTIVITIES:
TRANSPORT, STORAGE AND COMMUNICATION. NACE I.
1. Land transport; transport via pipelines (60)
• Transport via railways (60.1)
• Other scheduled passenger land transport (60.21)
• Taxi operation (60.22)
• Other land passenger transport (60.23)
• Freight transport by road (60.24)
• Transport via pipelines (60.3)
2. Water transport (61)
3. Air transport (62)
• Scheduled air transport (62.1)
• Non-scheduled air transport (62.2)
• Space transport (62.3)
4. Supporting and auxiliary transport activities; activities of travel agencies (63)
• Cargo handling (63.11)
• Storage and warehousing (63.12)
5. Other supporting transport activities (63.2)
• Other supporting land transport activities (63.21)
• Other supporting water transport activities (63.22)
• Other supporting air transport activities (63.23)
6. Activities of travel agencies and tour operators; tourist assistance activities n.e.c. (63.3)
7. Activities of other transport agencies (63.4)
8. Post and courier activities (64.1)
• National post activities (64.11)
• Courier activities other than national post activities (64.12)
9. Telecommunications (64.2)
MAINTENANCE AND REPAIR OF MOTOR VEHICLES. NACE 50.2.7 Detailed List of Activities
COMPUTER AND RELATED ACTIVITIES.
NACE 72.
1. Hardware consultancy (72.1)
2. Software consultancy and supply (72.2)
• Publishing of software (72.21)
• Other software consultancy and supply (72.22)
3. Data processing (72.3)
4. Database activities (72.4)
5. Maintenance and repair of office, accounting and computing machinery (72.5)
6. Other computer related activities (72.6)
SERVICES RELATED TO THE EXPLOITATION OF NATURAL RESOURCES AND WASTE DISPOSAL. NACE N.E.C. (NOT ELSEWHERE CLASSIFIED).
RESEARCH AND DEVELOPMENT. NACE 73.
1. Research and experimental development on natural sciences and engineering (73.1)
2. Research and experimental development on social sciences and humanities (73.2)
OTHER BUSINESS ACTIVITIES. NACE 74.
1. Legal activities (74.11)
2. Accounting, book-keeping and auditing activities; tax consultancy (74.12)
3. Market research and public opinion polling (74.13)
4. Business and management consultancy activities (74.14)
5. Management activities of holding companies* (74.15)
6. Architectural and engineering activities and related technical consultancy (74.2)
7. Technical testing and analysis (74.3)
8. Advertising (74.4)
9. Labour recruitment and provision of personnel (74.5)
10. Investigation and security activities (74.6)
11. Industrial cleaning (74.7)
12. Miscellaneous business activities n.e.c. (74.8)
• Photographic activities (74.81)
• Packaging activities (74.82)
• Secretarial and translation activities (74.85)
• Call centre activities (74.86)
• Other business activities n.e.c. (74.87)
SPECIALIZED AND POSTGRADUATE TRAINING SERVICES. NACE 80.3 and 80.4.
1. Higher education (80.3)
2. Adult and other education (80.4)
• Driving school activities (80.41)
• Adult and other education n.e.c. (80.42)
MOTION PICTURE AND VIDEO PRODUCTION. NACE 92.11.
RADIO AND TELEVISION ACTIVITIES. NACE 92.20.
Co-ordination centres and intra-group services are excluded from the services included in NACE group 74.15 (“Other business activities”).

There is a specialist information site where you can find further detailed information on the ZEC entities by visiting http://www.zec.org/

GoldAcre Estates have partnered with specialist Tax Advisors and Lawyers to assist with companies wanting to take advantages of the Canary Islands opportunities, John GoldAcre stated that with our expertise in both the Commercial and Residential Real Estate sector we are well placed to assist any European company with all their requirements regarding ZEC opportunites and of course the economic climate of today ensures you are able to purchase or rent Real Estate at exceptional prices.
For more information eamil info@goldacre-estates.com

Ryanair announces new flights from Prestwick to Fuerteventura, Canary Islands

Ryanair has announced extra flights to its sunshine routes from Prestwick and a new route to Fuerteventura starting next month.Chief executive for Prestwick airport, Iain Cochrane said: “This is more excellent news for the airport. As well as these welcome extras, we have new Ryanair routes starting to Fuerteventura in the Canary Islands and Ibiza next month, plus summer flights to Jersey and Turkey with other airlines.”

This is yet more good news for the tourist industry on Fuerteventura and for property owners looking for more connections back to the UK. It will also help the real estate market on the island by providing more connections between Fuerteventura and the UK which is an important consideration for potential purchasers.

The extra flights from Prestwick will go to Malaga, Alicante, Palma, Faro and Carcassonne.

It’s Carnival Time in Fuerteventura, Canary Islands

In many Roman Catholic countries the weeks leading up to Lent become Carnival time. It is a time when locals forget about the stresses and strains of everyday life and how much their real Estate is worth or not and dress up in often outrageous costumes to go out onto the streets and party well into the night.

Fuerteventura, second largest Island in the Canary Islands, Spain is no exception to this and the Carnival season starts in mid-February in the capital Puerto del Rosario, moving on to other towns and villages around Fuerteventura and the other Islands of Tenerife , Lanzarote and Gran canaria.

The main event in each location is the grand parade with many floats representing local businesses, marching bands, and of course the Carnival Queen – or queens, as you will often see not one, but two or even three queens – an adult, a junior and possibly a drag queen.

The majority of locals – men, women and children – join in with the festivities wearing fancy dress costumes made especially for the occasion. Men become women for the evening and all are a sight to behold, with tourists who know of the tradition also taking part.

So what is happening and where? Below are details of the events in the main towns but there will also be activities in the smaller towns and villages:

Puerto del Rosario

• The first, smaller parade takes place on 17th February at 8 pm. The parade represents “the birth of the sardine”, the sardine being the symbol of Carnival in the Canary Islands.
• On Saturday 27th February is the grand parade. This is traditionally the largest and most spectacular parade on the island, starting at around 5pm.
• On 6th March is the final parade “the burial of the sardine” when a huge papier mache model of the sardine is burned (cremated).

Caleta de Fuste

• In Caleta this year the grand parade takes place on February 20th. The theme for 2010 is the 1960’s so you can expect to see once again the fashions of this exciting era.

Corralejo

• The grand parade this year starts at around 5pm on Saturday 13th March. The theme of the carnival is The Jungle and there is a wealth of material for sale in every imaginable animal print in fabric shops in the old town. No doubt there will be many Tarzans, Janes (probably predominantly male) and “animals” galore on the streets of Corralejo.

Ryanair announces new route to Fuerteventura, Canary Islands

Ryanair has announced a new route to Fuerteventura from East Midlands airpot in the UK. The new service will begin on the 3rd of May 2010 and bookings will be available on line from today at Ryanair

In the same announcement Ryanair said it will also fly to Treviso, Venice from the same airport from the 5th of May.

Ryanair’s Stephen McNamara said, "Ryanair continues to develop great new routes so that passengers can beat the recession by flying at Ryanair’s guaranteed lowest fares and no fuel surcharges to exciting destinations all over Europe."

The flights will also be good news for British owners of Fuerteventura property on the island and the islands expatriots.

Source Ryanair

Special tax allowances for the Canary Islands over its European mainland counterparts

The Canary Islands enjoys some major tax advantages over the rest of mainland Europe which have not really been exploited because of lack of information available these TAX advantages can be significant and could be the Canary Islands advantage over mainland Spain in the recovery of its economy in 2010.

The Canary Islands are made up of seven different Islands, Fuerteventura, Tenerife, Gran Canaria, Lanzarote, La Plama, La Gomera and El Herrio, situated in the Atlantic Ocean just off the North African coast of Morroco the Canaries enjoys good flight communication with the whole of Europe and the rest of the world through the hub of Madrid.

The Canary islands are renowned for its tourism all year through as well as second and holiday homes destinations for people from mixed European destinations who choose to buy property and real estate in the Canary Islands to enjoy winter temperatures of 20 – 21 degrees.

What is the Canary Islands Special Zone?
The Canary Islands Special Zone is a low tax zone created within the framework of the Canary Islands Economic and Fiscal Regime (REF) for the purpose of promoting the economic and social development of the Islands and diversifying their production structure.
The Canary Islands Special Zone was authorised by the European Commission in January 2000 and extended in December 2006. The Spanish Government subsequently adapted the regulations concerning the ZEC contained in the Canary Islands Economic and Fiscal Regime, in accordance with the terms of the corresponding authorisations (Title V of Law 19/1994, as amended by Royal Decree-Law 12/2006 and implemented by Royal Decree-Law 1758/2007 1758/2007).
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 on the authorisation of the European Commission. The final date for authorisation to register in the Official ZEC Register (ROEZEC) will initially be 31 December 2013.
Where can ZEC Entities be set up?
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 commercialisation of goods may only set up within certain areas designated for these purposes.
Tax Benefits

Corporate Income Tax
ZEC entities are subject to the Corporate Income Tax in force in Spain, at a reduced rate of 4%. As of 2008, the Corporate Income Tax rate in Spain ranges from 25 to 30%. The special rate of 4% shall be applied to a maximum amount of the tax base, depending on the number of jobs created and the type of activity carried out by the ZEC Entity.
Net Employment Creation
Industrial Activities
Service Activities
Other services *
From 3 to 8 workers
€1,800,000
€1,500,000
€1,125,000
More than 8 and up to 12 workers
€2,400,000
€2,000,000
€1,500,000
More than 12 and up to 20 workers
€3,600,000
€3,000,000
€2,250,000
More than 20 and up to 50 workers
€9,200,000
€8,000,000
€6,000,000
More than 50 and up to 100 workers
€21,600,000
€18,000,000
€13,500,000
More than 100 workers
€120,000,000
€100,000,000
€75,000,000
*“Other Services” are considered to be: wholesale trade and commission trade (except of motor vehicles and motorcycles); activities of travel agencies and tour operators; other tourist assistance activities; computer and related activities; legal, accounting and book-keeping activities; tax consultancy; market research and public opinion polling; business and management consultancy; management activities of holding companies; and advertising and public relations services.
DOUBLE TAXATION AGREEMENTS, EUROPEAN UNION PARENT-SUBSIDIARY DIRECTIVE AND NON-RESIDENT INCOME TAX
The Canary Islands form part of the Spanish and European Union territory, which means that:
Double Taxation Agreements signed by Spain apply to ZEC Entities.
The European Union Parent-Subsidiary Directive applies to ZEC Entities. Therefore, dividends paid by subsidiaries of ZEC Entities to their parent companies resident in other countries within the European Union are exempt from withholding tax.
ZEC regulations include application of the following exemptions to income obtained by residents in non-EU states when the income is paid by a ZEC Entity and results from operations materially and effectively carried out within the geographical area of the ZEC.
Individuals: Interest and other returns obtained by the assignment of own capital to a third party, as well as capital gains on movable assets, obtained without the intermediation of a permanent establishment.Corporate Entities: profits paid to parent companies by its subsidiaries domiciled in Spain.
These exemptions will not apply when the income is obtained through tax havens or territories with which there is no effective exchange of tax information, or when the parent company has its tax residence in such countries or territories.
TRANSFER TAX AND STAMP DUTY
ZEC Entities are exempt from Transfer Tax and Stamp Duty in the following cases:
The acquisition of assets and rights to be used for carrying out the activity of the ZEC Entity within the geographical area of the ZEC.
Company operations carried out by ZEC Entities, except in the case of their dissolution.
Stamp Duty on documents associated with operations carried out by ZEC Entities within the geographical area of the ZEC.
CANARY ISLANDS GENERAL INDIRECT TAX (IGIC) (VAT)
IGIC is the Canary Islands indirect tax levied on final consumption, in substitution of the European Union Value Added Tax (VAT). It is similar in nature to VAT, although there are major differences such as the lower tax rates. The general IGIC rate is 5%.
Within the regime of the ZEC, the provision of goods and services among ZEC Entities is exempt from IGIC, as is the importing of goods by ZEC Entities.
What are the reguirements to becoming a ZEC entity?
· The entity must be newly created and have its registered office and effective place of management within the geographical area of the ZEC
· At least one of the administrators must be resident in the Canary Islands.
· A minimum investment of €100,000 euros must be made in the case of Tenerife or Gran Canaria, or €50,000 in the case of Fuerteventura, Lanzarote, La Gomera, El Hierro or La Palma, in fixed assets related to the business activity within the first 2 years following registration.
· A minimum of 5 or 3 jobs must be created, depending on whether the location is one of the capital islands or an outlying island, in the first 6 months following registration, and this average must be maintained during the time the entity remains within the ZEC.
· The corporate purpose must consist of undertaking, within the area of the ZEC, one of the authorised activities.

DETAILED LIST OF ACTIVITIES (NACE)
PRODUCTION,
TRANSFORMATION AND
HANDLING ACTIVITIES AND
WHOLESALE DISTRIBUTION OF
GOODS:
FISHING. NACE B.
1. Fishing (05.01)
2. Fish farming (05.02)
MANUFACTURE OF FOOD
PRODUCTS, BEVERAGES AND
TOBACCO. NACE DA.
1. Production, processing and preserving
of meat and meat products (15.1)
• Production and preserving of meat
(15.11)
• Production and preserving of
poultrymeat (15.12)
• Production of meat and
poultrymeat products (15.13)
2. Processing and preserving of fish and
fish products (15.2)
3. Processing and preserving of fruit and
vegetables (15.3)
• Processing and preserving of
potatoes (15.31)
• Manufacture of fruit and vegetable
juice (15.32)
• Processing and preserving of fruit
and vegetables n.e.c. (15.33)
4. Manufacture of vegetable and animal
oils and fats (15.4)
• Manufacture of crude oils and fats
(15.41)
• Manufacture of refined oils and fats
(15.42)
• Manufacture of margarine and
similar edible fats (15.43)
5. Manufacture of dairy products (15.5)
• Operation of dairies and cheese
making (15.51)
• Manufacture of ice cream (15.52)
6. Manufacture of grain mill products,
starches and starch products (15.6)
• Manufacture of grain mill products
(15.61)
• Manufacture of starches and starch
products (15.62)
7. Manufacture of prepared animal feeds
(15.7)
• Manufacture of prepared feeds for
farm animals (15.71)
• Manufacture of prepared pet foods
(15.72)
8. Manufacture of other food products
(15.8)
• Manufacture of bread; manufacture
of fresh pastry goods and cakes
(15.81)
• Manufacture of rusks and biscuits;
manufacture of preserved pastry
goods and cakes (15.82)
• Manufacture of sugar (15.83)
• Manufacture of cocoa; chocolate
and sugar confectionery (15.84)
• Manufacture of macaroni, noodles,
couscous and similar farinaceous
products (15.85)
• Processing of tea and coffee (15.86)
• Manufacture of condiments and
seasonings (15.87)
• Manufacture of homogenized food
preparations and dietetic food
(15.88)
2
Information Bulletin
• Manufacture of other food products n.e.c. (15.89)
9. Manufacture of beverages (15.9)
• Manufacture of distilled potable alcoholic beverages
(15.91)
• Production of ethyl alcohol from fermented
materials (15.92)
• Manufacture of wines (15.93)
• Manufacture of cider and other fruit wines (15.94)
• Manufacture of other non-distilled fermented
beverages (15.95)
• Manufacture of beer (15.96)
• Manufacture of malt (15.97)
• Production of mineral waters and soft drinks (15.98)
10. Manufacture of tobacco products (16.0)
MANUFACTURE OF MADE-UP TEXTILE
ARTICLES AND ARTICLES OF FUR.
NACE 17.4, 17.5, 17.6, 17 and 18.
1. Manufacture of made-up textile articles, except apparel
(17.4)
2. Manufacture of other textiles (17.5)
• Manufacture of carpets and rugs (17.51)
• Manufacture of cordage, rope, twine and netting
(17.52)
• Manufacture of non-wovens and articles made from
non-wovens, except apparel (17.53)
• Manufacture of other textiles n.e.c. (17.54)
3. Manufacture of knitted and crocheted fabrics (17.6)
4. Manufacture of knitted and crocheted articles (17.7)
• Manufacture of knitted and crocheted hosiery (17.71)
• Manufacture of knitted and crocheted pullovers,
cardigans and similar articles (17.72)
5. Manufacture of wearing apparel; dressing and dyeing of
fur (18)
• Manufacture of leather clothes (18.1)
• Manufacture of other wearing apparel and
accessories (18.2)
• Manufacture of workwear (18.21)
• Manufacture of other outerwear (18.22)
• Manufacture of underwear (18.23)
• Manufacture of other wearing apparel and
accessories n.e.c. (18.24)
• Dressing and dyeing of fur; manufacture of articles of
fur (18.3)
MANUFACTURE OF LEATHER AND LEATHER
PRODUCTS. NACE DC.
1. Tanning and dressing of leather (19.1)
2. Manufacture of luggage, handbags and the like, saddlery
and harnesses (19.2)
3. Manufacture of footwear (19.3)
MANUFACTURE OF PULP, PAPER AND PAPER
PRODUCTS; PUBLISHING AND PRINTING.
NACE DE.
1. Manufacture of pulp, paper and paper products (21)
• Manufacture of pulp (21.11)
• Manufacture of paper and paperboard (21.12)
• Manufacture of corrugated paper and paperboard
and of containers of paper and paperboard (21.21)
• Manufacture of household and sanitary goods and of
toilet requisites (21.22)
• Manufacture of paper stationery (21.23)
• Manufacture of wallpaper (21.24)
• Manufacture of other articles of paper and
paperboard n.e.c. (21.25)
2. Publishing (22.1)
• Publishing of books (22.11)
• Publishing of newspapers (22.12)
• Publishing of journals and periodicals (22.13)
• Publishing of sound recordings (22.14)
• Other publishing (22.15)
3. Printing and service activities related to printing (22.2)
• Printing of newspapers (22.21)
• Printing n.e.c. (22.22)
• Bookbinding (22.23)
• Pre-press activities (22.24)
• Ancillary activities related to printing (22.25)
4. Reproduction of recorded media (22.3)
• Reproduction of sound recording (22.31)
• Reproduction of video recording (22.32)
• Reproduction of computer media (22.33)
MANUFACTURE OF CHEMICALS AND
CHEMICAL PRODUCTS. NACE 24.
1. Manufacture of basic chemicals (24.1)
• Manufacture of industrial gases (24.11)
• Manufacture of dyes and pigments (24.12)
• Manufacture of other inorganic basic chemicals
(24.13)
3
Detailed List of Activities
• Manufacture of other organic basic chemicals (24.14)
• Manufacture of fertilizers and nitrogen compounds
(24.15)
• Manufacture of plastics in primary forms (24.16)
• Manufacture of synthetic rubber in primary forms
(24.17)
2. Manufacture of pesticides and other agro-chemical
products (24.2)
3. Manufacture of paints, varnishes and similar coatings,
printing ink and mastics (24.3)
4. Manufacture of pharmaceuticals, medicinal chemicals
and botanical products (24.4)
• Manufacture of basic pharmaceutical products
(24.41)
• Manufacture of pharmaceutical preparations (24.42)
5. Manufacture of soap and detergents, cleaning and
polishing preparations (24.51)
6. Manufacture of perfumes and toilet preparations (24.52)
7. Manufacture of other chemical products (24.6)
• Manufacture of explosives (24.61)
• Manufacture of glues and gelatines (24.62)
• Manufacture of essential oils (24.63)
• Manufacture of photographic chemical material
(24.64)
• Manufacture of prepared unrecorded media (24.65)
• Manufacture of other chemical products n.e.c.
(24.66)
8. Manufacture of man-made fibres (24.7)
PREFABRICATED BUILDING PRODUCTS. NACE
20.2, 20.3, 24.3, 25.2, 26.1, 26.2, 26.3, 26.4, 26.7, 28.1,
28.12, 28.2, 28.63, 28.7, 36.1, 45.25, 45.3 and 45.4.
1. Manufacture of veneer sheets; manufacture of plywood,
laminboard, particle board, fibre board and other panels
and boards (20.2)
2. Manufacture of builders’ carpentry and joinery (20.3)
3. Manufacture of paints, varnishes and similar coatings,
printing ink and mastics (24.3)
4. Manufacture of plastic products (25.2)
• Manufacture of plastic plates, sheets, tubes and
profiles (25.21)
• Manufacture of plastic packing goods (25.22)
• Manufacture of builders’ ware of plastic (25.23)
• Manufacture of other plastic products (25.24)
5. Manufacture of glass and glass products (26.1)
• Manufacture of flat glass (26.11)
• Shaping and processing of flat glass (26.12)
• Manufacture of hollow glass (26.13)
• Manufacture of glass fibres (26.14)
• Manufacture and processing of other glass, including
technical glassware (26.15)
6. Manufacture of non-refractory ceramic goods other
than for construction purposes; manufacture of
refractory ceramic products (26.2)
• Manufacture of ceramic household and ornamental
articles (26.21)
• Manufacture of ceramic sanitary fixtures (26.22)
• Manufacture of ceramic insulators and insulating
fittings (26.23)
• Manufacture of other technical ceramic products
(26.24)
• Manufacture of other ceramic products (26.25)
• Manufacture of refractory ceramic products (26.26)
7. Manufacture of ceramic tiles and flags (26.3)
8. Manufacture of bricks, tiles and construction products,
in baked clay (26.4)
9. Cutting, shaping and finishing of ornamental and building
stone (26.7)
10. Manufacture of structural metal products (28.1)
• Manufacture of metal structures and parts of
structures (28.11)
• Manufacture of builders’ carpentry and joinery of
metal (28.12)
11. Manufacture of tanks, reservoirs and containers of
metal; manufacture of central heating radiators and
boilers (28.2)
• Manufacture of tanks, reservoirs and containers of
metal (28.21)
• Manufacture of central heating radiators and boilers
(28.22)
12. Manufacture of locks and hinges (28.63)
13. Manufacture of other fabricated metal products (28.7)
• Manufacture of steel drums and similar containers
(28.71)
• Manufacture of light metal packaging (28.72)
• Manufacture of wire products (28.73)
• Manufacture of fasteners, screw machine products,
chain and springs (28.74)
• Manufacture of other fabricated metal products
n.e.c. (28.75)
4
Information Bulletin
14. Manufacture of furniture (36.1)
• Manufacture of chairs and seats (36.11)
• Manufacture of other office and shop furniture
(36.12)
• Manufacture of other kitchen furniture (36.13)
• Manufacture of other furniture (36.14)
• Manufacture of mattresses (36.15)
15. Other construction work involving special trades
(45.25)
16. Building installation (45.3)
• Installation of electrical wiring and fittings (45.31)
• Insulation work activities (45.32)
• Plumbing (45.33)
• Other building installation (45.34)
17. Building completion (45.4)
• Plastering (45.41)
• Joinery installation (45.42)
• Floor and wall covering (45.43)
• Painting and glazing (45.44)
• Other building completion (45.45)
MANUFACTURE OF MACHINERY AND
EQUIPMENT n.e.c. NACE 29.
1. Manufacture of machinery for the production and use
of mechanical power, except aircraft, vehicle and cycle
engines (29.1)
• Manufacture of engines and turbines, except aircraft,
vehicle and cycle engines (29.11)
• Manufacture of pumps and compressors ( 29.12)
• Manufacture of taps and valves (29.13)
• Manufacture of bearings, gears, gearing and driving
elements (29.14)
2. Manufacture of other general purpose machinery (29.2)
• Manufacture of furnaces and furnace burners (29.21)
• Manufacture of lifting and handling equipment (29.22)
• Manufacture of non-domestic cooling and ventilation
equipment (29.23)
• Manufacture of other general purpose machinery
n.e.c. (29.24)
3. Manufacture of agricultural and forestry machinery
(29.3)
• Manufacture of agricultural tractors (29.31)
• Manufacture of other agricultural and forestry
machinery (29.32)
4. Manufacture of machine-tools (29.4)
• Manufacture of portable hand held power tools
(29.41)
• Manufacture of other metalworking machine tools
(29.42)
• Manufacture of other machine tools n.e.c. (29.43)
5. Manufacture of other special purpose machinery (29.5)
• Manufacture of machinery for metallurgy (29.51)
• Manufacture of machinery for mining, quarrying and
construction (29.52)
• Manufacture of machinery for food, beverage and
tobacco processing (29.53)
• Manufacture of machinery for textile, apparel and
leather production (29.54)
• Manufacture of machinery for paper and paperboard
production (29.55)
• Manufacture of other special purpose machinery
n.e.c. (29.56)
6. Manufacture of weapons and ammunition (29.6)
7. Manufacture of domestic appliances n.e.c. (29.7)
• Manufacture of electric domestic appliances (29.71)
• Manufacture of non-electric domestic appliances
(29.72)
MANUFACTURE OF ELECTRICAL AND
OPTICAL EQUIPMENT. NACE DL.
1. Manufacture of office machinery and computers (30.0)
• Manufacture of office machinery (30.01)
• Manufacture of computers and other information
processing equipment (30.02)
2. Manufacture of electrical machinery and apparatus n.e.c.
(31)
• Manufacture of electric motors, generators and
transformers (31.1)
3. Manufacture of electricity distribution and control
apparatus (31.2)
4. Manufacture of insulated wire and cable (31.3)
5. Manufacture of accumulators, primary cells and primary
batteries (31.4)
6. Manufacture of lighting equipment and electric lamps
(31.5)
7. Manufacture of electrical equipment n.e.c. (31.6)
• Manufacture of electrical equipment for engines and
vehicles n.e.c. (31.61)
• Manufacture of other electrical equipment n.e.c.
(31.62)
5
Detailed List of Activities
8. Manufacture of radio, television and communication
equipment and apparatus (32)
• Manufacture of electronic valves and tubes and other
electronic components (32.1)
• Manufacture of television and radio transmitters
and apparatus for line telephony and line telegraphy
(32.2)
• Manufacture of television and radio receivers, sound
or video recording or reproducing apparatus and
associated goods (32.3)
9. Manufacture of medical, precision and optical
instruments, watches and clocks (33)
• Manufacture of medical and surgical equipment and
orthopaedic appliances (33.1)
• Manufacture of instruments and appliances for
measuring, checking, testing, navigating and other
purposes, except industrial process control
equipment (33.2)
• Manufacture of industrial process control equipment
(33.3)
• Manufacture of optical instruments and photographic
equipment (33.4)
• Manufacture of watches and clocks (33.5)
MANUFACTURE OF AIRCRAFT AND
SPACECRAFT. NACE 35.30.
MANUFACTURE OF FURNITURE;
MANUFACTURING N.E.C. NACE 36.
1. Manufacture of furniture (36.1)
• Manufacture of chairs and seats (36.11)
• Manufacture of other office and shop furniture
(36.12)
• Manufacture of other kitchen furniture (36.13)
• Manufacture of other furniture (36.14)
• Manufacture of mattresses (36.15)
2. Manufacture of jewellery and related articles (36.2)
• Striking of coins (36.21)
• Manufacture of jewellery and related articles n.e.c.
(36.22)
3. Manufacture of musical instruments (36.3)
4. Manufacture of sports goods (36.4)
5. Manufacture of games and toys (36.5)
6. Miscellaneous manufacturing n.e.c. (36.6)
• Manufacture of imitation jewellery (36.61)
• Manufacture of brooms and brushes (36.62)
• Other manufacturing n.e.c. (36.63)
RECYCLING. NACE 37.
1. Recycling of metal waste and scrap (37.1)
2. Recycling of non-metal waste and scrap (37.2)
WHOLESALE TRADE AND COMMISSION
TRADE. NACE 50 and 51.
1. Sale of motor vehicles (50.1)
2. Maintenance and repair of motor vehicles (50.2)
3. Sale of motor vehicle parts and accessories (50.3)
4. Sale, maintenance and repair of motorcycles and related
parts and accessories (50.4)
5. Retail sale of automotive fuel (50.5)
6. Wholesale on a fee or contract basis (51.1)
• Agents involved in the sale of agricultural raw
materials, live animals, textile raw materials and
semi-finished goods (51.11)
• Agents involved in the sale of fuels, ores, metals and
industrial chemicals (51.12)
• Agents involved in the sale of timber and building
materials (51.13)
• Agents involved in the sale of machinery, industrial
equipment, ships and aircraft (51.14)
• Agents involved in the sale of furniture, household
goods, hardware and ironmongery (51.15)
• Agents involved in the sale of textiles, clothing,
footwear and leather goods (51.16)
• Agents involved in the sale of food, beverages and
tobacco (51.17)
• Agents specializing in the sale of particular products
or ranges of products n.e.c. (51.18)
• Agents involved in the sale of a variety of goods
(51.19)
7. Wholesale of agricultural raw materials and live animals
(51.2)
• Wholesale of grain, seeds and animal feeds (51.21)
• Wholesale of flowers and plants (51.22)
• Wholesale of live animals (51.23)
• Wholesale of hides, skins and leather (51.24)
• Wholesale of unmanufactured tobacco (51.25)
8. Wholesale of food, beverages and tobacco (51.3)
6
Information Bulletin
• Wholesale of fruit and vegetables (51.31)
• Wholesale of meat and meat products (51.32)
• Wholesale of dairy produce, eggs and edible oils and
fats (51.33)
• Wholesale of alcoholic and other beverages (51.34)
• Wholesale of tobacco products (51.35)
• Wholesale of sugar and chocolate and sugar
confectionery (51.36)
• Wholesale of coffee, tea, cocoa and spices (51.37)
• Wholesale of other food, including fish, crustaceans
and molluscs (51.38)
• Non-specialized wholesale of food, beverages and
tobacco (51.39)
9. Wholesale of household goods (51.4)
• Wholesale of textiles (51.41)
• Wholesale of clothing and footwear (51.42)
• Wholesale of electrical household appliances and
radio and television goods (51.43)
• Wholesale of china and glassware, wallpaper and
cleaning materials (51.44)
• Wholesale of perfume and cosmetics (51.45)
• Wholesale of pharmaceutical goods (51.46)
• Wholesale of other household goods (51.47)
10. Wholesale of non-agricultural intermediate products,
waste and scrap (51.5)
• Wholesale of solid, liquid and gaseous fuels and
related products (51.51)
• Wholesale of metals and metal ores (51.52)
• Wholesale of wood, construction materials and
sanitary equipment (51.53)
• Wholesale of hardware, plumbing and heating
equipment and supplies (51.54)
• Wholesale of chemical products (51.55)
• Wholesale of other intermediate products (51.56)
• Wholesale of waste and scrap (51.57)
11. Wholesale of machinery, equipment and supplies (51.8)
• Wholesale of machine-tools (51.81)
• Wholesale of mining, construction and civil
engineering machinery (51.82)
• Wholesale of machinery for the textile industry and
of sewing and knitting machines (51.83)
• Wholesale of computers, computer peripheral
equipment and software (51.84).
• Wholesale of other office machinery and equipment
(51.85)
• Wholesale of other machinery for use in industry,
trade and navigation (51.87)
• Wholesale of agricultural machinery and accessories
and implements, including tractors (51.88)
12. Other wholesale (51.9)
PRODUCTION OF RENEWABLE ENERGY. NACE
40.10.
SERVICE ACTIVITIES:
TRANSPORT, STORAGE AND
COMMUNICATION. NACE I.
1. Land transport; transport via pipelines (60)
• Transport via railways (60.1)
• Other scheduled passenger land transport (60.21)
• Taxi operation (60.22)
• Other land passenger transport (60.23)
• Freight transport by road (60.24)
• Transport via pipelines (60.3)
2. Water transport (61)
3. Air transport (62)
• Scheduled air transport (62.1)
• Non-scheduled air transport (62.2)
• Space transport (62.3)
4. Supporting and auxiliary transport activities; activities of
travel agencies (63)
• Cargo handling (63.11)
• Storage and warehousing (63.12)
5. Other supporting transport activities (63.2)
• Other supporting land transport activities (63.21)
• Other supporting water transport activities (63.22)
• Other supporting air transport activities (63.23)
6. Activities of travel agencies and tour operators; tourist
assistance activities n.e.c. (63.3)
7. Activities of other transport agencies (63.4)
8. Post and courier activities (64.1)
• National post activities (64.11)
• Courier activities other than national post activities
(64.12)
9. Telecommunications (64.2)
MAINTENANCE AND REPAIR OF MOTOR
VEHICLES. NACE 50.2.
7
Detailed List of Activities
* Co-ordination centres and intra-group services are excluded from the services included in NACE group 74.15 (“Other business activities”).
COMPUTER AND RELATED ACTIVITIES.
NACE 72.
1. Hardware consultancy (72.1)
2. Software consultancy and supply (72.2)
• Publishing of software (72.21)
• Other software consultancy and supply (72.22)
3. Data processing (72.3)
4. Database activities (72.4)
5. Maintenance and repair of office, accounting and
computing machinery (72.5)
6. Other computer related activities (72.6)
SERVICES RELATED TO THE EXPLOITATION
OF NATURAL RESOURCES AND WASTE
DISPOSAL. NACE N.E.C. (NOT ELSEWHERE
CLASSIFIED).
RESEARCH AND DEVELOPMENT. NACE 73.
1. Research and experimental development on natural
sciences and engineering (73.1)
2. Research and experimental development on social
sciences and humanities (73.2)
OTHER BUSINESS ACTIVITIES. NACE 74.
1. Legal activities (74.11)
2. Accounting, book-keeping and auditing activities; tax
consultancy (74.12)
3. Market research and public opinion polling (74.13)
4. Business and management consultancy activities (74.14)
5. Management activities of holding companies* (74.15)
6. Architectural and engineering activities and related
technical consultancy (74.2)
7. Technical testing and analysis (74.3)
8. Advertising (74.4)
9. Labour recruitment and provision of personnel (74.5)
10. Investigation and security activities (74.6)
11. Industrial cleaning (74.7)
12. Miscellaneous business activities n.e.c. (74.8)
• Photographic activities (74.81)
• Packaging activities (74.82)
• Secretarial and translation activities (74.85)
• Call centre activities (74.86)
• Other business activities n.e.c. (74.87)
SPECIALIZED AND POSTGRADUATE TRAINING
SERVICES. NACE 80.3 and 80.4.
1. Higher education (80.3)
2. Adult and other education (80.4)
• Driving school activities (80.41)
• Adult and other education n.e.c. (80.42)
MOTION PICTURE AND VIDEO PRODUCTION.
NACE 92.11.
RADIO AND TELEVISION ACTIVITIES. NACE
92.20.

Thomas Cook announce flight deals to Fuerteventura and the Canary Island

Thomas Cook are offering some great deals on flights to the Canaries with £20 off seats between February and April.

Flights to Fuerteventura can be found from as little as £51.99

These are fantastic prices for those wishing to find some winter sun and for property owners on the Canary islands looking to visit the UK for the winter sales.

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Ryanair Flights To Return To Fuerteventura, Canary Islands

Ryanair fights are to return to Fuerteventura, in the Canary Islands commencing in February 2010. In an interview with Q FM, Sr Mario Cabrera confirmed that a 5 year deal had been done with the airline to bring flights back to the Canarian island.
Bookings will be available from Ryanair from the 18th December but the flights will not be able to begin until February because of the airlines current capacity.
John GoldAcre of GoldAcre Estates said "This is great news not just for tourists, but for property owners and those wishing to purchase property on Fuerteventura".
The Ryanair flights will help owners wanting to rent their properties and visit the island and will be a boost for the real estate market.

New Yacht Marina Is To Be Constructed In Corralejo, Fuerteventura, Canary Islands

A new yacht marina is to be constructed in Corralejo, Fuerteventura which will provide 650 private moorings in an adventurous expansion plan of the present harbour. The project, which will be funded by the Canarian Government, is in the early stages of planning but it is hoped that it will go out to tender early next year.

Corralejo harbour is one of the busiest in the Canaries with over a million passengers a year using the ferry link to Lanzarote and the project will ensure that increasing passenger demand can be met.

The scheme will create two new commercial jetties and a multi purpose water sports building as well as the marina. Once the construction work begins it is expected to take around two years to complete.

This is good news for home owners and investors as marinas are sort after locations for property purchasers and the construction of the new marina will mean that homes in the immediate area will be at a premium.

Where Is Your Pound going in Spanish Real Estate today

Keith Spitalnick Business Development Manager of Currencies Direct predicts an upward trend for the Value of sterling against the euro by the year end. This is good news for Spanish Real Estate and people looking to buy property in the Canary Islands and Spain, prices could not be better as many new properties today are being offered at discounts and of course you have very good prices on some resale properties from people that are having to sell their Spanish property.

Read Keith full story and prediction of how he sees sterling moving, Keith commented, I keep getting asked is where I see GBP/EUR headed by then. I personally feel that GBP/EUR is in an upward trend however the language from the Bank of England is holding it back, trying to hold the pound low. After Christmas sterling could start to rally. 1.1500 is my short term target.


It’s been another busy week for GBP/EUR as the fallout from the latest Quarterly Inflation report was digested in the papers; the Banks assessment for growth is now twice the latest consensus of their panel of independent forecasters and their predictions for inflation and interest rate levels over the next couple of years have been revised sharply higher. This helped to boost the pound ahead of the Bank of England minutes last Wednesday. The pound also rallied as we saw the UK inflation numbers come in higher than expected. This gave Sterling a strong boost all round, on expectations that, with inflation “surging”, rates might have to be raised sooner rather than later. I think that this is an unlikely scenario and that Base Rates will remain at these low levels until the 3rd quarter next year, possibly longer.


The Euro was not so fortunate with comments from ECB president Trichet rattling the euro. He commented that the fiscal situation in some European countries is so bad that there is a danger that markets will lose faith in them. At last a bit of plain talking from the ECB! In addition we saw the Euro current account showing a deficit of €5.4 billion - this was concerning as it identified a surge in imports and slumping exports; this could bring the strength of the euro back to the fore as a red flag for the ECB. If this issue is raised it could start to turn the tide on recent euro strength…

Unfortunately the pound could not hold onto its gains after peaking at 1.13. This was due to the split decision from the Bank of England who were split three ways on the November Quantitative Easing vote. 7 backed the £25 billion increase, David Miles wanted a £40 billion increase and Spencer Dale wanted no change. This undermined sterling which immediately dropped over half a cent against the USD and the Euro. The split has highlighted the indecision on future policy and this is hardly surprising given the implications on monetary policy decisions within the current economic climate.

So overall its the same old problems hurting the pound in the form of QE and concern over public debt. However it is widely expected that UK GDP will be revised higher next week for the third quarter and that fourth quarter data will show an exit from the recession...therefore the pound should start to perform better going forward. Last week we also witnessed one or two red flags from the Euro zone and the recent support of the euro against the US dollar could wane if more concerns arise...this would certainly play into GBP/EUR gains.



www.currenciesdirect.com

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New Flights To The Canaries Will Boost The Property Market.

New flight services to the Canaries should be a boost for the property market. All the Canary Islands and in particular Fuerteventura could be in line for a property market boost as low-cost airlines start arriving from the UK.

Budget carrier EasyJet has revealed that three new services will fly to the Islands from early next month. A Liverpool to Fuerteventura service will begin on November 2nd and flights to Lanzarote will start from the same location on the 3rd. On November 4th, a new service will commence to Fuerteventura from London Stansted.

Palm Air and Monach Airways have already started new services to Fuerteventura.

RyanAir are also opening new air routes into Lanzarote which with the regular ferry routes between the two islands means even more choice for travellers to Fuerteventura.

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New Sea Route Linking, Canary Islands, Puerto del Rosario, Fuerteventura to Valencia, Spain

The shipping and ferry company “Boluda” is starting a new sea route from Puerto del Rosario, Fuerteventura, Canary Islands to Valencia, Spain.



It is hoped that with the start of this new route with the Spanish mainland goods will arrive sooner and in better condition in the Canary Islands. This will be a weekly service for commercial goods and vehicles and offer ongoing routes to other European destinations by the same shipping company. This is good news for people buying Real Estate in Fuerteventura as now it will be easier to furnish their new properties that they buy and of course owners wanting to bring furniture and personal items over to the island from other European countries

Cost of new housing falls in Spain but the Canary Islands is less affected

Canary Islands Real Estate, Fuerteventura Tenerife, Lanzarote and Gran Canaria property better than mainland Spain.

The cost of new housing fell 2% in the first quarter of the year compared with the same period in 2008, the first annual decrease since the property market bubble started to deflate in mid-2007.

According to data published today by the National Institute of Statistics (INE), the price of housing as a whole fell by 7.6% between January and March, the biggest decrease since prices started to fall in the second quarter of 2008. The main reason for the fall is still the slump in prices in the second-hand-property market, brought on by owners selling just to clear bank mortgage commitments, but it is the first time that new housing in Spain has also seen a decrease.

House prices fell in all the autonomous communities in the first quarter, with the biggest drops being registered in Catalunya (13.7%), Comunidad de Madrid (11.2%), Basque Country(10.8%), Navarra (10.1%), Aragón (9.7%), Balearic Islands (8.1%) and La Rioja (8%).

Below national average drops were registered in Cantabria (7.2%), Comunidad Valenciana (5.2%), Canary Islands (4.3%), Andalucía (3.9%), Castilla and León (3.3%), Castilla-La Mancha (2.5%), Extremadura (2.2%), Asturias (1.8%), Murcia (1.6%) and Galicia (0.5%).

For more information:
Calle Guirre, No1 Oasis Tamarindo- Local No17, Corralejo Fuerteventura Canary islands Spain 0034 928 535044 www.goldacre-estates.com

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New Flights and solid Real Estate prices in Fuerteventura all help in the Islands progress as a place that is growing on the touristic map of Spain

Fuerteventura in the Canary Islands has recently been named a Bioshere Reserve, all this is seen to assist and help in the growth of the island, which will produce good returns on real estate prices, provide a better environment for visitors and access is being provided by more and more flights to the Canary Islands from the UK.

Last week it was announced that UNSECO have made Fuerteventura in the Canary Islands a biosphere reserve. This means that Fuerteventura have been recognised as having a unique environment and that the islanders are working to ensure that people and wildlife live harmoniously together. This should help to stop some of the over development that has happened and keep the island the beautiful, peaceful place that has made Fuerteventura a place for those that have visited a place we all love. The announcement that Fuerteventura has been named as a UNESCO biosphere reserve, what you can do to help the Fuerteventura in the Canary Islands live up to this honour. The award is given to areas where people and the environment are working to live in harmony with each other and the recent survey that showed a 30% increase in the Hubara bird in just one year helps to confirm this. But you cannot just leave this up to the Cabildo to follow good environmental practice, this has got to come from every one of us who visits Fuerteventura for their vacation / holiday.

The immediate thought that comes into people's minds when they think of themselves and the environment is recycling, but in many ways this should be almost your last resort.......

More good news on flights to Fuerteventura island this week, Palmair are going to come to Fuerteventura from Exeter for the winter season, these start in November.

Real Estate is driven down by media and lenders opinion

The real prospect of a housing and Real Estate crash has been created by doom-mongers and has seeped into the minds of home owners and potential buyers following report after report from British leading lenders. Is the Canary Islands the best place for your money.

The Sunday Express one of the UK leading national newspapers, May 25th, 2008 issue states that since the credit crunch began to bite, barely a day has gone by without one report or another predicting Armageddon for house prices. However, although the economy is undoubtedly suffering from a dramatic increase in fuel and food bills and a general lack of confidence, the fact is that our homes are worth significantly more than they were this time last year!

An exclusive Sunday Express Poll of Polls shows, on average, house prices are up 3.2 per cent over the last twelve months.

The prospect of a housing crash has been created by doom-mongers and has seeped into the minds of home owners and potential buyers following report after report from the nation’s leading lenders. It is, of course, understandable that this slight paranoia influences our minds and the decisions we make or do not make. Things like the holiday home that has been put on the back burner due to the scaremongers misguided ideas that the housing markets worldwide are in crisis.

John Goldacre from GoldAcre Estates said that opportunities are always available in any market that is under pressure and of course regarding lack of opportunities nothing could be further from the truth in Fuerteventura where property prices have always been well priced compared to its Canary Island neighbours such as Tenerife, Lanzarote and Gran Canaria .

The Sunday Express article reveals that actually over the past year, only three regions in the UK have experienced price falls, while nine have remained buoyant! While the UK is not enjoying the 10 per cent plus leaps in value seen over the past decade, experts believe the market has stabalised with the country returning to more realistic levels of growth. In fact, over the last year, the vast majority of the country has experienced strong growth, adding thousands of pounds to the value of their homes. As you would expect, London remains the strongest performer with a 9.1 per cent leap.

The Sunday Express article stated, we are not suffering from a housing crisis, all we are suffering from is a crisis of confidence which has been brought about by the radical and rather drama related ideas created by alarmists.

GoldAcre Estates claims, in Fuerteventura the market is still very good. Prices have levelled which you find in all the housing market trends with any sort of slow down which of course have therefore become extremely attractive for investment and future growth. Now is the time to plan your future and be a part of the development and opportunities Fuerteventura has to offer because as all markets that flatten or fall history has proven that there is only one way you go, which is upwards so now is the time to buy your perfect home in the sun.



GoldAcre Estates Fuerteventura

Is there light at the end of tunnel regarding doom and gloom in the Spanish property market?

Fuerteventura leads the way with prices increasing in the Canary Islands, opportunities to buy luxurious property at excellant prices with Guaranteed mortgages so no credit crunch worrys, Fuerteventura is only 3.5 hours flying time from most of mainland Europe and has miles of Golden sand beaches , Canary Islands home to the Canary Palms.

Spanish Property Collapse a distant past as Fuerteventura sees Prices Increasing

Is their Light at the end of the tunnel of doom surrounding the Spanish property market ?

The Canary Islands in Particular Fuerteventura would like to contest the stories that surround the bad news that circulates around the press regarding the Spanish Property market, Vista Mar a Luxury development of 79 three bedroom apartments that are situated directly in front of the sea, have sold 61% of the total available units in just 6 months and are announcing price increases ranging from 6,000 euros per unit to 10,000 euros for the single level apartments and 20,000 Euros increase in the Duplex Penthouse Apartment’s.

Why you ask, when all the reports are of Credit crunch and property falling in price across Spain would prices be on the increase ? John Goldacre of GoldAcre Estates, Vista Mar’s main selling agent commented, when you have a luxury product that is properly priced you will always find a market where people who understand great value for money are prepared to commit to buying regardless of market conditions, and traditionally the Canary Islands and in particular Fuerteventura has offered opportunities for excellent priced property which holds and grows in value, because with an island as opposed to mainland Spain you do not have hundreds of miles with similar properties.

The Canary Islands offers all year round sunshine and is approximately only 3.5 hours flying time from most of mainland Europe and Fuerteventura offers the best beaches in the whole of the Canary Islands with some 162 km of Golden Sands stretched the length of the island, massive inward investment has been made on the internal infrastructure of the Island with a huge expansion to Fuertevantura’s airport situated in Puerto del Rosario, which shows the confidence and long term prospects that Fuerteventura has to offer its property buyers .

Vista Mar price increases take effect on the 12th May but even with the price increase you will still be able to purchase a three bedroom 100m2 luxury apartment with a 42 m2 terrace with Garage and storeroom included for only 202,995 euros, you have a Marina that is two minutes walk from your apartment and a blue flag beach only 10 minutes walk, for further information on these luxurious properties simply visit www.goldacre-estates.com/eng/pages/new/vista-mar.html


Fuerteventura offers today’s property buyer some exceptional opportunities for further information on Vista Mar and other great properties visit www.goldacre-estates.com or e-mail info@goldacre-estates.com

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