Highlights of Free Zone Act (FZA)
- The FZA allows for production, manufacturing, and services, including financial services.
- Exemption from taxes of import into free zone area.
- Exemption from taxes on profits for 10 years.
- Up to 30% of the annual production can be sold in the national customs zone.
- A foreign investor may take hold of 100% of shares in free Zone property.
- Income tax after 10 years shall not exceed 8%.
- Foreign and domestic investors shall have equal status.
- No Nationalization or expropriation within a free zone.
- Free Zone enterprises shall have ability to hold a foreign currency account.
Contract negotiations and terminations determined by the free zone enterprise.
For more information, please visit the following link: http://www.gfzb.com.gh/