Before 2012, there used to be a 99.9% discount on inheritance taxes in the autonomus region of the Canary Islands. However, because of the financial crisis, the Government decided to scrap this and have introduced heavy tax rates on beneficiaries when inheriting.

HOWEVER, due to new laws, it is now possible to reclaim up to 90% of the inheritance taxes paid within the last 4 years. Tenerife International Business Centre SL is able to handle the process for you. If you would like any further information, please get in touch with our team of professionals.

We also provide Inheritance Tax Insurance and valuable advice when it comes to preparing your Will in Tenerife. Instead of your beneficiaries paying up to 34% of the value of the inheritance in taxes, you can pay a small premium each year which will protect your beneficiaries from having to pay this tax and legal fees. Again, if you have any questions or would like to look in to your case, please do not hesitate to get in touch with Tenerife International Business Centre SL based in Las Galletas, Tenerife.