Industry: Industry Region: Trinidad and Tobago Transaction Price: Not Disclosed Transaction Method: Equity Investment
Introduction: The political situation is stable, the geographical location is superior, and the level of industrial development is in a leading position in the Caribbean, and its education system is also more complete than other island countries, and all kinds of professional talents are complete. It can be said that the special majority has the basic conditions to attract foreign investment. According to the provisions of the Free Zones Law, the establishment of free zones in the territory of Taiduo is very flexible, and it can be applied for anytime and anywhere, as long as the application is approved by the relevant authorities and subject to customs supervision, the location can be in a designated area, within the scope of a factory, or even in a certain area of a warehouse. After the application for a free zone is approved, the company's imported goods can be stored in this free zone, and if they are re-exported from here to other markets, they can enjoy duty-free treatment; If you sell from a free zone to the local market, you only need to go through the normal import procedures. For example, Nestlé Caribbean has set up a warehouse in its most numerous production plants to apply for free zone treatment and enjoy free zone treatment, so that Nestlé's free zone is equivalent to its "big warehouse in the Caribbean", they store the goods supplied to the surrounding market in this "big warehouse", and then according to the change of market demand, the required goods are shipped to neighboring countries at any time. Each island nation in the Caribbean has a small market and limited demand, and this flexible and unified supply method can greatly reduce operating costs and thus improve competitiveness.
Details: Piaco Airport Industrial Park covers an area of 18,000 square meters, located near Piaco International Airport, with warehouses and processing plants, etc., which can provide services for the processing of light industrial products and international trade.
1. Abundant in natural resources
It has a variety of resources needed for manufacturing, such as crude oil, natural gas, natural bitumen, petrochemicals, iron and steel, tropical crops and timber.
Of particular note is the natural bitumen produced in the asphalt lake in the southwest of Trinidad, which has high mechanical stability and strong adhesion and excellent quality. China's Capital Airport, Beijing's Second and Third Ring Road, Chengdu-Chongqing Expressway, Hong Kong Undersea Tunnel and many famous large airports, highways, bridges and tunnels in the United Kingdom, the United States, Japan and other countries use a lot of natural asphalt.
2. Sufficient supply of natural gas
Numerous natural gas resources are abundant, abundant and inexpensive, and gas pipelines lead directly from coastal gas fields to the free zones.
3. Power supply
With a large number of power supply facilities, low electricity prices, and an installed capacity of 634 trillion megabytes, it is the strongest power supply capacity in the Caribbean.
Preferential treatment in free zones
Enterprises in the Limited-Duo Free Zone or applying for the Free Zone treatment can enjoy a variety of preferential treatment, mainly including:
--Capital goods, spare parts, raw materials, etc. used in plant construction and decoration required for approved projects or business activities are exempted from customs duties;
--No need to apply for import and export licenses;
- exemption from land and building taxes;
--Free work permits;
--No property ownership restrictions;
- Enterprises in approved free zones are exempt from income tax, corporate tax and tax on repatriation of sales income or profits;
--VAT exemption on goods supplied to enterprises in free zones;
- No foreign exchange restrictions, no capital gains tax;
--Provide high-quality labor resources;
--Customs procedures are fast and efficient.
The Ríssa Point Industrial Port Processing Zone, located in the central island of Trinidad, is the largest export processing zone in Trinidad, with a deep-water port with sound facilities, a global communication station, pipeline supply of natural gas and integrated service buildings, which can provide complete supporting services for export processing enterprises.
infrastructure
Compared with neighboring countries, most infrastructure is more developed, and the hardware conditions for investment are better, such as:
1. Superior geographical location, convenient and fast access to the international market.
Located just 7 miles from the South American continent, Tedo is well served by regular flights and liners to major regions and markets around the world. It can also provide manufacturers, assemblers, traders with international standards, as well as a variety of supporting services, with priority access to the North and South America, Europe and the Caribbean market.
2. Perfect aviation services
BWIA (West India Airlines) is headquartered in Tedo, and Piaco International Airport is the most modern airport in the South Caribbean and North Latin America. BWIA and several other airlines offer flights from Piaco Airport to all parts of the world.
Enterprises in the Limited-Duo Free Zone or applying for the Free Zone treatment can enjoy a variety of preferential treatment, mainly including:
--Capital goods, spare parts, raw materials, etc. used in plant construction and decoration required for approved projects or business activities are exempted from customs duties;
--No need to apply for import and export licenses;
- exemption from land and building taxes;
--Free work permits;
--No property ownership restrictions;
- Enterprises in approved free zones are exempt from income tax, corporate tax and tax on repatriation of sales income or profits;
--VAT exemption on goods supplied to enterprises in free zones;
- No foreign exchange restrictions, no capital gains tax;
--Provide high-quality labor resources;
--Customs procedures are fast and efficient.
Approval criteria
1. The production of oil, natural gas, primary chemical products or production activities with oil, natural gas and chemical products as the main input (even if used as fuel), and investment activities with an investment amount of more than 50 million US dollars are not within the scope of free zone business.
2. Free zone projects should meet the following conditions:
--Export of goods or services
• Job creation
• Injecting new investment
--Improve employee skills
--Enter foreign markets
3. The free zone project must be conducive to export, but the company of the free zone may authorize the free zone enterprise to sell goods not exceeding 20% of its total export value to the territory of the free zone after completing all normal import procedures and paying the relevant taxes.
4. The free zone enterprise must be a company registered and operated in the free zone, and its business activities in the free zone must be its sole business activity in the free zone.
Although the economic and trade relations between China and the special number of countries have developed relatively fast in recent years, the development is still unbalanced and the potential is still huge. It is hoped that domestic enterprises interested in overseas development will seriously study the various preferential conditions of the special free zone and explore the possibility of investing and setting up factories in the free zone. As long as it is prudent in decision-making, scientific management and accurate positioning, Chinese enterprises should be able to make a difference.