• As a Free Zone Licensee, you can enjoy the following incentives:

 

  • Taxation Incentives
  • –  No value added tax;
  • –  No withholding tax;
  • –  No corporate tax;
  • –  No capital gains tax;
  • –  No Federal, State and Local Government taxes;
  • –  100% foreign ownership; and
  • –  100% repatriation of foreign capital investment.

 

  • Immigration Incentives
  • –  Immigration fast track procedure;
  • –  A subject-to-regularization (STR) Visa is regularized on arrival of applicant at the Free Zone Immigration Unit;
  • –  Expatriates on Free Zone Status must work and reside within the Free Zones only but can attend meetings and/or conferences outside the zones on call time basis; and,
  • –  No quota regime for expatriate employment.

 

  • Custom Incentives
  • –  No customs import form required for importation into the Free Zone;
  • –  Fast-track cargo clearance procedures (pre-release on placement of bank bond);
  • –  Fast-track air freight cargo movement – international airports to free zones;
  • –  No time limit on cargo storage;
  • –  No custom duty applicable within the free zone;
  • –  No custom duty payable for goods exported from the free zone to other countries;
  • –  No custom duty payable for goods exported from the free zone to other countries;
  • –  No custom duty payable on goods in transit from any part of entry in Nigeria to the Free Zone;
  • –  Goods may be stored indefinitely, sold, exhibited, broken-up, packed, graded, cleaned, marked, loaded, unloaded, reloaded, divided, mixed, separated or otherwise manipulated;
  • –  Goods may be worked, processed or reprocessed or otherwise manipulated or manufactured;
  • –  Goods may be consumed in the Free Zone; and,
  • –  No import or export licenses required.

 

  • Additional Incentives (for Manufacturing, Assembling and Processing)
  • In line with the growing needs and requests by the market and global economy, some benefits have been extended to some sectors initially excluded from the incentives:
  • –  Duty payment on raw materials only;
  • –  Enterprises in the Free Zones are allowed to export into Nigerian territory up to 100% of their products;
  • –  The amount of import duties on goods manufactured, processed and assembled in the Free Zones and exported into the Nigerian Customs Territory shall be the rate of duties applicable to raw materials in the state in which they were originally introduced into the Free Zones;
  • –  All trades and commercial goods imported into the Free Zones in finished forms, without value addition, shall attract full duty on export into the Nigeria Custom Territory; and,
  • –  75% Import Duty rebate on products of special nature where there is no local capacity.