Coat of arms of the Canary Islands Coat of arms of Canary Islands. Popularly attributed the Canary Islands name is derived from the Presa Canario, although under a law in force in the Canary Islands since 1991, the dog is the natural symbol of Gran Canaria along with the cactus. For this reason, critics of the current shield argue that it only represents the island of Gran Canaria, and not the entire archipelago. There has also been a motion to remove both animals' collars, as it is argued (especially since independence) that the collars represent "submission". Coat of arms of the Canary Islands The coat of arms
Canary Islands a rate of approximately 5% annually. This growth was fueled mainly by huge amounts of Foreign Direct Investment, mostly to develop tourism real estate (hotels and apartments), and European Funds (near €11 billion euro in the period from 2000 to 2007), since the Canary Islands are labelled Region Objective 1 (eligible for euro structural funds). Additionally, the EU allows the Canary Islands Government to offer special tax concessions for investors who incorporate under the Zona Especial Canaria (ZEC) regime and create more than five jobs. Spain gave permission in August 2014 for Repsol and its partners to explore oil and