Designation of Foreign Investment Zones
Individual Foreign Investment Zone
A zone designated after deliberation on a location requested by a foreign investor to attract
a large investment above a certain scale
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Category of business |
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Requirements |
Newly installing or expanding a factory or a place of business | ||||||||
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Details |
Rents: In the case of shared property, up to 100 percent can be reduced. Acquisition tax: 100 percent for ten years from opening date for business + 50 % for five years Property tax: 100 percent for five years from opening date for business + 50 % for two years Exemption from customs duty, individual consumption tax, and value-added tax (under the Article 121-3 of the Restriction of Special Taxation Act) · Of the two capital goods necessary for tax-exempt businesses as outlined below, capital goods imported after filing a report on foreign investment made by acquiring newly issued stocks and other methods will be exempted from the aforementioned taxes under the Restriction of Special Taxation Act: 1. Capital goods that a foreign direct invested company imports with any means of international payment or domestic payment that it has obtained as equity investment from a foreign investor; 2. Capital goods that a foreign investor imports as objects of investment |