Special Economic Zone

rigabulk

Up to 100% relief on VAT and excise tax, up to 80% relief on corporate income tax. 80-100% relief on real estate tax 

The most important feature of the business climate of the Freeport of Riga is the possibility for the companies to operate under special economic zone regime. The companies may be granted significant tax reliefs, as well as a particularly favorable customs and tax regime for the import and storage of goods. A permit to operate under the special economic zone regime is granted by the Board of the Freeport of Riga for 5 years, and after expiration of this term the permit can be renewed.

A Company is eligible for the special economic zone regime reliefs at two levels:

  1. by obtaining the status of a licensed commercial company of the Freeport of Riga, a company may receive significant rebates on direct taxes (corporate income tax and real estate tax);
  2. in addition by obtaining a permit to carry on a licensed commercial activity under a free zone regime, goods brought into the territory of the company shall not be subject to the customs duties (customs duty, VAT, excise duty) and commercial policy measures if they are intended for further export from the customs territory of the Union. The company shall be subject to facilitated customs formalities

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