What is the RIC and how can it help your company finance your technology investment?

The Canary Islands Investment Reserve (RIC) is one of the most significant tax incentives under the Canary Islands Economic and Tax Regime. It allows taxpayers conducting business on the islands to allocate a portion of their undistributed profits to a reserve that reduces the tax base, resulting in tax savings, with the commitment to invest that reserve within a specific timeframe and in investments that fall within the scope of eligible uses for the incentive.

That said, this tax incentive helps companies optimize their tax situation, allowing those tax savings to increase the resources available for financing investments. In short, the RIC represents a tax advantage that functions as an additional source of investment financing.

Intelequia: Another Option for Utilizing the Incentive

Considering an investment in technology through the RIC is another option among the range of valid investment opportunities available for utilizing the incentive. In this regard, partnering with a specialized firm like Intelequia helps identify the initiatives that can add the most value to each company.

Through its offerings in cloud technology, cybersecurity, data, and artificial intelligence, Intelequia is a viable option that allows companies to allocate this tax incentive to technology projects that provide high added value for the business. Thus, taxpayers not only meet the reserve’s investment requirement but also invest in initiatives that help optimize infrastructure, strengthen security, improve productivity, and prepare the organization for more robust growth.

Consequently, the results of the investment are reflected in both financial indicators and other business metrics, leading to an improvement in the taxpayer’s future prospects.

If you would like more information on how to approach this type of investment, contact us.