6th Floor, Finsure House, Cnr 2nd Street/K Nkrumah Ave, Harare | +263 242 790 555 / +263 242 792 670-2 | info@zimseza.co.zw

Fiscal Incentives Gazetted

Corporate Tax

Zero-rated Corporate Income Tax for the first 5 years of operation with a corporate tax rate of 15% applying thereafter

Customs Duty on Capital Equipment

Duty free importation on Capital Equipment

Special Initial Allowance

Special Initial allowance of 50% of cost from year one and 25% in the subsequent two yeas

Employees Tax

Exemption from Non-residents tax on fees for services that are not locally available

Non-Residents Withholding Tax on Fees

Exemption from Non-residents tax on fees for services that are not locally available

Non-Residents Withholding Tax on Royalties

An exemption from Non-residents tax on royalties

Customes Duty on Raw Materials

Inputs which include raw materials and imported for use by companies set up in the SEZs be imported duty free. The duty exemption will, however not apply where such raw materials are produced in Zimbabwe

Capital Gains Tax

Zero-rated Capital Gains Tax

Non-Fiscal Incentives Gazetted

Ownership

Ownership of companies within SEZs is up to 100%

Granting of Zimbabwean Business passport

Investors investing more than $100 million will get Zimbabwean Business passports

Citizenship to Investors

Any person who invests more than $100million and resides in Zimbabwe for more than 5 years will get Zimbabwe citizenship

Investor Pioneer Status

Pioneer Investor Status to be given to investors investing in Zimbabwe during the period 1 May 2018 to 30 November 2023

Work permits for Expatriates

Issuance of work permits within 24 hours

Residence Permits

Issuance of Residence Permit within five (5) years

Water and Energy Supply

Dedicated Power, Water reticulation and sewer works for companies operating in Special Economic Zones

Acquisition of land

Free land for SEZ on state land.

One Stop Shop investment Services

One Stop Shop investment services for all SEZs. • Customs clearing • Immigration • Company registration • Environment Impact Assessment • Security

Review of Prospectors by EMA

Investors in the SEZ to be issued with Preliminary Development Permits to allow resource mobilisation while finalising the EIA study. The Development Permit to be issued within 5 days upon submission of a comprehensive prospectus report.

Environmental Impact assessment (EIA) Approval

Environmental impact assessment to take less than 30 days.

Business hours

Unrestricted business hours within SEZs

Collaboration with Universities

Collaboration with local universities for Research purposes

Transfer of title deeds for properties

Transfer of title deeds for properties bought and paid for to be done 48 hours

Visa fees for investors

Visas on entry

Local Authority Offices

Local Authority desk in the One Stop Shop Investment Services

Protection from compulsory acquisition of property

Guaranteed protection from compulsorily acquisition.

Labour Laws

Flexible and Unique labour laws in line with the International Labour Organisation (ILO) Law

Monetary Incentives

Capital and Profit repatriation.

100% repatriation

Offshore borrowing

Investors allowed to borrow offshore without RBZ approval

Primary Bond issue Subscription

100% Subscription

Incentives for SEZ Developers

Local Government taxes and Levies

Exemption from local government taxes and levies.

Land tenure

Developers are given 50 year leases for state land subject to renewal

Pioneer Status Incentives (PSI)

Corporate tax

Zero rated Corporate Income Tax for the first 10 years, with a corporate tax rate of 10% applying thereafter.

Special Initial Depreciation Allowance

Special Initial allowance of 70 % of cost from year one and 15% in the subsequent two years