Creation and validity of the ZEC
Regulation:Articles 28 and 29 Law 19/1994
The ZEC is created with the aim of promoting the creation of quality employment , the economic and social development of the archipelago and the diversification of its productive structure, governed by the principle of geographical isolation.
The validity of the ZEC has a deadline of 31 December 2026, which may be extended with the prior authorisation of the European Commission.
However, the deadline for authorisation for entry in the Official Register of ZEC Entities shall be 31 December 2021.
The maintenance of the Canary Islands Special Zone shall be conditional in all cases on the results of the periodic reviews to be carried out by the European Commission.