Free Trade Zones And Their Benefits For The Industries Of Honduras
Jul 01, 2022
Free trade zones have long been a more than attractive destination for entrepreneurs around the world. Offering low taxes, a strategic location in the heart of emerging markets, and a government committed to fostering and supporting business, it’s not hard to understand why.
Currently, in Honduras there are areas in different cities that fall into this category and are called free trade zones or free zones. This is a benefit that is available to international companies that wish to invest within the country.
The Free Trade Zone Law grants free zone status throughout the Honduran territory, so that commercial and industrial companies can establish and operate with this status if their operations are related to exports and complementary activities. This law actively promotes the opening of new businesses and foreign investments.
The benefits of free trade zones
A Free Zone is an area where a company can operate tax-exempt, and / or, with a considerable reduction of bureaucratic procedures. Among the benefits that can be mentioned for free zones are the following:
- Exemption from payment of customs duties, charges, surcharges, internal taxes, consumption, and other taxes and charges on merchandise brought into the Zone, which are directly related to import and export customs operations.
- Exemption from payment of taxes and municipal contributions.
- Exemption from payment of Income Tax.
This is why both Altia Smart City locations San Pedro Sula and Tegucigalpa are located in a free zone status:
ALTIA is the first free zone in Honduras for the service industry. This means that companies operating in service industries, such as Call Centers, Contact Centers, BPO and ITO, can benefit from the Free Zone status within ALTIA.
Many companies in our Smart City are already obtaining excellent results for operating within the free zone. And part of our service as ALTIA is to advise any company that wishes to establish itself within the free zone in its application process.