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President Carlos Alonso

A UK company that moves part – or all – of its operations to Tenerife will make itself much more tax efficient

Advice and information for financial advisors

On Wednesday November 4 2015 at the Royal Automobile Club, London, the President of Tenerife Carlos Alonso will meet one of the UK’s most respected financial figures, Geoffrey Pointon, who will interview him about Tenerife’s unique tax climate and how it fosters overseas investment and trade on the island.

The ‘Tenerife Tax Incentives Breakfast’ event, organised by London-based conference company GeoTenerife, will take place from 9.00 to 11.00AM, and is designed to illuminate corporate tax advisors and accountants to the fiscal advantages available in Tenerife.

At the event, Geoffrey Pointon will interview the President about the tax scheme and what it means for UK firms. He co-founded Pointon York which he developed into a wide ranging financial services group.

Entrepreneurial by nature, he has over 50 years’ experience in high-profile positions. He is highly respected for consistently pushing the boundaries and innovating successful financial products.

Geoffrey Pointon has promoted higher standards throughout the financial services industry since the 1970s, helping to form the British Insurance Brokers Association (BIBA) and he was Chair or Deputy Chair of NASDIM (National Association of Securities Dealers and Investment Managers), FIMBRA (Financial Intermediaries, Managers and Brokers Regulatory Association) and APT (Association of Pensioneer Trustees).

Tenerife has a unique economic and tax system - the most favourable within the EU for investment and trade. The Economic and Tax System (Canary Islands REF) not only provides the possibility of benefitting from a reduced 4% Corporation Tax, among other tax incentives, but is also covered by the double taxation conventions signed by Spain.

Councillor of Tourism and International Development Alberto Bernabé Teja said, “With a wide array of fiscal incentives including a 4% fixed Corporation Tax rate, reduction of up to 90% of non-distributed net profit from taxable base, 50% tax rebate for production of tangible assets, and sector-specific deductions for investment, Tenerife is the place to do business.”

Tenerife is in the Canaries Special Zone which means that the island’s businesses pay much less than the European average of 25% Corporation Tax.

Alberto Bernabé Teja, who will be answering questions at the meeting, continued, “London is a world leader when it comes to financial services and that’s why we chose to meet with businesses here.

“A UK company that moves part – or all – of its operations to Tenerife will make itself much more tax efficient. Instead of the UK’s 20% corporation tax it would pay only 4% on activity in the Canary Islands.

“Of course, the financial incentives are only one part of the story. Tenerife is in the same time zone as the UK, meaning that employees in the Canarian branch of a business are at work at the same time as the London office. With multiple flights from London to Tenerife every day and only a four hour flight away from Europe, business travel is convenient.

“Lastly, who wouldn’t want to work in Tenerife? With an average temperature of 23°C and all-year-round sun, employees will be motivated, relaxed and refreshed every day.”

The ‘Tenerife Tax Incentives Breakfast’ is an unmissable event for anyone who is intrigued by the financial benefits of investing in, or relocating to, Tenerife.

Tickets to the breakfast event at the Royal Automobile Club, 89 Pall Mall, London SW1Y 5HS are free but places are strictly limited. To RSVP, please contact George Murdoch, email or 07834 643 977.

Canaries Special Zone:
British Insurance Brokers Association:
Royal Automobile Club:
Tenerife government:


For further information please contact George Murdoch on 07504 762 049 and, or Tina Fotherby on 07703 409 622 and

About President of Tenerife Carlos Alonso

Carlos Alonso Rodríguez was born in Santa Cruz de Tenerife, reaching the post of President of the Cabildo at the age of 43. His academic career, after graduating in Economics and Business Studies from the University of La Laguna specialising in General Economics, is marked by excellence with the Prize for High Achievement and Second National Prize for Study Termination. In addition, he possesses a Master in European Studies by the College of Bruges. He has been associate professor of the Applied Economy Department at the University of La Laguna. The special knowledge he has about Canary Island economics has led him to direct several talks and seminaries on the integration regime of the Canary Islands in the European Union and he has published various works about this same subject.

Alonso has held several positions in autonomous and Tenerife administrative bodies, including General Director of Economic Affairs with the European Union in the autonomous Government, General Director of Farming and Vice-Counsellor of Agriculture in the Canary Islands Government. He entered the Cabildo of Tenerife in 2001 as the Presidency's Project manager, working alongside the President Ricardo Melchior in important initiatives such as the Farming Plan or the Metropolitan Area Tram.

In 2003 he transferred to Brussels to occupy the position of administrator of the Unit of Outermost Regions in the General Directorate of Regional Politics of the European Commission.

Carlos Alonso was counsellor of the Cabildo from 2007 in charge of the Economy and Competitiveness Area, where he promoted projects which were vital for the Island such as the Metropolitan Area Tram, the Northern and Southern line trains or the Alix project, which will place Tenerife on the map as a strategic communication point worldwide. As Economics Counsellor he also worked in important activities to promote the Island economically, in close collaboration with other bodies such as the Chamber of Commerce, the Canary Islands Special Zone (ZEC), Free Trade Zone and Port Authority through a pioneering joint promotion initiative under the name ''Why Tenerife?''.

In 2011 he took over, in addition, the chair of vice-president of the Cabildo and the areas of Mobility and Tourism, and here he has concentrated his effort on increasing the competitiveness of the destination renewing the touristic strategy and in particular, improving air connectivity.

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