Canary Islands 'Zero Quota' Grants for 2025

Overview

The Canary Islands government has approved a new set of 'zero quota' grants aimed at supporting self-employed workers for 2025. Following thorough review, 1,401 autonomous entrepreneurs will receive a total of €1,330,385.32 in funding to help establish or expand their businesses.

Management and Scheme Details

• The grants are managed by the public corporation Instituto Tecnológico de Canarias (ITC).
• They are part of a non-competitive aid scheme designed to minimize bureaucracy and ensure swift support.
• The scheme operates under strict EU regulations with a maximum aid limit of €30,000 per entity in the last three years, aiming to avoid distortion of competition.

Eligibility and Conditions

• Recipients must meet specific requirements, such as maintaining proper documentation and cooperating with oversight bodies.
• All applicants are expected to adhere to legal obligations and publicize their receipt of aid.

Application Outcomes

Some applicants were rejected or withdrew their requests, and others failed to complete necessary formalities, leading to the death of their right to receive funding.

Context and Benefits

The government emphasizes accountability by demanding recipients publicize their aid and adhere to legal obligations.

This initiative highlights the Canary Islands’ effort to bolster local entrepreneurship, especially amid ongoing economic recovery.

For residents, especially foreign expats seeking to start a business, these grants could offer crucial financial aid to kick-start new ventures or sustain existing ones in a challenging economic landscape.