Most Profitable Business Investments In Gambia
If you are starting, setting up or developing a business in Gambia, there are many potentially profitable business & investment opportunities. The most lucrative sectors are tourism, manufacturing, training, farming, fishing, transport, off shore financial services or real estate investments
The Free Zones Act provides the legal framework for setting up Free Zones and their efficient management. The main thrust is to create a world-class investment climate in The Gambia for businesses engaged in manufacturing, processing and export oriented activities.
We can advise businesses, companies and individuals on the procedures and processes for the profitable export, import, marketing, sales and distribution of services, products and goods.
Authorised Business Activities In The Gambia
Activities authorized for the purpose of investing within the Free Zones are listed in the Schedule to The Free Zones Act 2001 and they are:
- Breaking bulk;
- Storing, grading, cleaning and mixing;
- Labelling, packaging and repackaging;
- Telecommunication and information technology;
- Financial services and off shore services;
- Health and veterinary services;
- Transportation services;
Other business or commercial activities not listed shall be allowed upon the authorization of the Secretary of State for Trade, Industry and Employment
Gambian Investment Incentives and Eligibility Criteria
Business investors investing in the Gambia Free Zones will have the following incentives extended to them:
- Exemption from all taxes and customs duties payable on all imports provided that the imports, are used or to be used exclusively within the zone, and subject to any other limitations specified by the regulations made pursuant to the Act;
- Where import duty or sales tax have been paid by a zone investor in respect of any goods on their importation into the customs territory, no refund shall be allowed merely because the goods are to be later transferred into any of the free zones;
- Exemption of customs duty, excise duty and sales tax on goods produced within or imported into any of the zones, unless the goods are entered for consumption into the national customs territory
- Exemption of import duty on capital equipment;
- Full exemption of corporate tax or income tax for the first 10 years from the date of approval of licence in the case of trading activities in the zones, thereafter tax shall be pegged at a rate not exceeding six percent per annum;
- For activities related to tourism corporate tax or income tax shall be charged at the rate of ten percent for the first 20 years, and shall revert to the normal rate thereafter;
- Full withholding of corporate or income tax on dividend and other payments during the period of tax holiday;
- Full relief from payment of municipal taxes;
- Zone investors shall also be exempted from pay roll tax or other restrictions or prohibitions on import or export trade with the exception of trade in firearms, military or other illegal goods.
Lucrative & Profitable Business Investments In Gambia
Please contact us for a no obligation discussion or to to find profitable investment opportunities and learn what you need to start up, set up or develop a lucrative business in The Gambia.