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Mar 06, 2019

Cabinet approves changes to investment law

On 6 March 2019, the cabinet approved two amendments to the investment law aimed at encouraging expansions of existing investments and clarifying the system for certifying contracts of association. In the original law, investment incentives were only available for new investments. The incentives include corporate tax discounts of 50% for projects in designated priority areas and 30% for projects in other areas. The other change specifies that the fee for certifying the signatures for contracts to set up a new investment should be 0.25% of the paid-up capital, with an upper limit of E£10,000 (US$570).

Type: Promotion and facilitation (Investment incentives)

Industry: Not industry specific