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Incentives to Locators at Subic Bay Metropolitan Authority (SBMA)
and Clark Development Corporation (CDC)
Two of the more attractive investment
sites in Southeast Asia today are the Subic
Bay Freeport and Special Economic Zone (SBF) and the Clark Special
Economic Zone (CSEZ). These sites are former US military facilities
converted into civilian use. The vision for the 67,000-hectare SBF
is to create a self-sustaining industrial, commercial, financial,
and investment center in addition to its international seaport,
which can anchor 600 ships. The CSEZ, which spans some 33,653
hectares, is being converted into a special economic zone and its
1,620-hectare civil aviation complex into a world-class
international airport.
Registered enterprises in both SBF and CSEZ enjoy various investment
incentives
including access to first-class commercial, residential, and tourist
facilities.The SBMA and CDC grant incentives to registered enterprises located
at the sites. A
registered SBF enterprise is a business enterprise organized and
existing under
Philippine or foreign laws, registered with the SBMA, and located
within the SBF. A
CSEZ enterprise is a duly constituted business organization which is
organized or
domiciled in the Philippines or any foreign country that is
registered with CDC and
Both the SBMA and CDC grant essentially the same set of incentives
to registered
SBF and CSEZ enterprises. These incentives include:
Fiscal Incentives
:: Tax- and duty-free importation of machineries, equipment, raw
materials, supplies, and all other
articles including finished goods.
:: No local and national taxes. In lieu thereof, SBF and CSEZ
enterprises pay a tax of 5% of Gross Income Earned, which refers to gross sales or revenue derived
from any business activity within the zones, less cost of production or direct
cost of services as well as other costs specifically determined in regulations to
be material in the operations of the business.
Non-Fiscal Incentives
:: Permanent residency
status for investors, their spouses, dependent children under 21 years of
age provided that they have continuing investments of not less that
US$250,000.00.
:: Employment of foreign nationals.
Contact Us
______________________________________
You're invited to call us to discuss
your company's legal matters. We shall be glad to talk with you over
the telephone, or in our office or yours, whichever is easiest for
you. You can also e-mail us at
gtalaw@gtalawphil.com and we shall get back to you
immediately.
GUZMAN TAŅEDO & ACAIN
Mile Long Building 316
Legaspi Village
Amorsolo Street
Makati City
Telephone: 8941441
TeleFax: 8124296
e-mail:
gtalaw@gtalawphil.com
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