Inheritance & Gift Tax on Fuerteventura (2026): Canary Islands Tax Benefits Explained
The complete overview of allowances, tax reductions and deadlines.
Why the Canary Islands Are So Tax‑Attractive
The Canary Islands offer some of the highest tax reductions in Europe for inheritances and gifts.
For many property owners, this is a major advantage for long‑term planning.
The Most Important Tax Rules for Inheritance & Gifts
Tax‑Free Allowances (up to €300,000 per person)
High allowances apply to close relatives (Groups I & II):
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children
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parents
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spouses
Tax Reduction up to 99.9%
After deducting the allowance, the remaining tax is reduced by up to 99.9%.
In many cases, this results in: €0 tax.
Deadlines & Obligations
Inheritance
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Deadline: 6 months
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Extension possible
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Assets must be valued
Gift
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Deadline: 30 days
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Applies to property, money and other assets
Example Calculation (2026)
Example
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Property value: €250,000
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Heir: child (Group II)
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Allowance: €300,000
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Tax reduction: 99.9%
Result: → €0 tax
Important Notes for Property Owners
Key Points
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Plan inheritance early
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Check cadastral data
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A gift may be more tax‑efficient
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Deadlines must be respected
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With multiple heirs: clear agreements recommended
Request the Tax Compendium 2026
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