Yes, the Canary Islands have had the ZEC Tax special zone for decades. But it is not as easy as it seems... You have to create 3-5 jobs depending on the island and invest additional 100,000 p.e in Tenerife.︀
In addition, all the bureaucracy and effort. After such a setup you definitely dont have︁ a substance problem anymore 🙂
For bigger fishes this is definitely a good option in EU.︂