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Thread: Moving to Tenerife to start a business from home

  1. #1

    Talking Moving to Tenerife to start a business from home

    Hi everyone, I'm in genuine need for some advice here.

    Me and my wife our in our 30's and we were about to start our own business in Devon from home. I am currently an international Recruitment Consultant providing Safety & Environmental professionals to Energy companies all around the world. I am taking the plunge and decided to start doing it for myself, I have some money to start me off and after 6 months, I know I can rake it in for myself rather than making some other bloke wealthy!

    We live in Herts at the moment, its too expensive and we were going to move to Devon in the moors just for the cheaper, nicer life style.

    My Wife lived in Tenerife for 6 yrs before we met, and I come over twice a year now for breaks and we all love it so we just figured, If we can start this business from anywhere, lets see if we can do it from Tenerife!

    Our parents already have a place in Roque Del Conde area in the South, we can stay there for free till the business gets going and then we can rent or buy somewhere more permanent. We really do have an excellent opportunity.

    What I need to know is, should i set the business up in the UK and just work from Tenerife, can i do that? would I need to pay tax etc to tenerife authorities as well as UK etc if I'm just working from home in Tenerife?

    Or would it be more beneficial to start the business and register it and pay Tenerife taxes, etc.

    I really havnt got a clue where to start here, I want the cheapest option to start with, then further down the line I will open up an office in Tenerife and employ people, at least I will be putting something into the community over there.

    All guidance greatly appreciated!

  2. #2
    If you spend more than 183 days in Tenerife, you pay Tax here. You must be registered and then the social secutiry costs are at least 250 euros per month per Autonomo, self emplyed person, then theres accountants fees, paperwork fees and tax system is a total nightmare. May be a great place to live but a nightmare to be fully legal, tax paying etc..

    PS If you are classed as Fiscal resident of Spain ie more than 183 days, then you are also taxed in Spain on any income in UK or anywhere else

  3. #3
    I would go UK registered and 'administer' the company from Tenerife, with a local office here, make sure your UK office writes you a 364 day secondment contract (the 365th is to be in UK signing another one) to do this in Tenerife. Look into the legality of this, but I am sure "Goldenmaniac" (fully knowledgeable member on here) knows more about this......

    I am after a contract in Africa if one is going ;-)

  4. #4
    Hi

    Things are really picking up now, we have put our house up for sale, have the funding and pretty much ready to move over for January 2012.

    Still havnt sorted out whether to do this from UK or Canaries though. If I am a one man band, then I am wondering whether to set myself up as a 'Consultant' in Tenerife.

    So much to do its unreal! Setting a business up in the UK definately seems a lot easier to be honest. Anymore help on this would be great, not that I'm dismissing any of the answers so far, I just want to make sure all options are covered!

    Thanks

  5. #5
    Hi

    We have just moved over here and are embarking on the same business set up. It is a nightmare but in the long run you are better to be legal over here as they are tightening up on things a lot.
    As with the UK there are different types of business, partnerships etc and each comes with a different set of legal requirements it seems.
    There is a company in the South of the island called 'Capecan' and they have seminars offering set up advice. There is also a online contact for the Canarian Government where you can gain advice on business set up and any grant funding available.
    Hope this helps and if you gain any good advice perhaps you could share.

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