Export Processing Zone in Porto Central
The Exporting Processing Zone (hereinafter “ZPE”, in its Brazilian initials) is a type of free trade zone dedicated for export by manufacturing companies, with the purpose to attract business and promote socioeconomic development of the region.
Companies that earn at least 80% of its total gross income from the sale of goods and services (after excluding the taxes applied on the sale) from exports abroad can be installed in a ZPE.
The companies that come to settle in Porto Central ZPE will benefit from suspension and/or exemption of certain taxes on raw materials and investments. In addition, they will benefit with speed-up administrative and customs procedures. Porto Central has reserved an area within the port for the implementation of an Export Processing Zone. Among the granted benefits, we highlight the following:
- Suspension of import tax, industrialized product tax, AFRMM, PIS/COFINS/PASEP and COFINS/PIS/PASEP Import
- Simplified procedures for import and export
- Foreign exchange freedom
- Benefits guaranteed for up to 20 years, extendable
- Excellent location for raw material import and export of goods and products with efficiency and competitiveness
- Facility to export and import through Porto Central’s world class port terminals, capable of receiving the largest vessels in the world
- Logistic access to roads and future railways
- Local availability of basic infrastructure
- Large area for expansion
- Excellent investment environment
The State of Espírito Santo is committed to work with the Federal Government to create a ZPE at Porto Central, in order to attract businesses and promote industrial and commercial exports. This means that manufacturing industries can import raw materials of components through the port’s modern and specialized terminals and also export their final product, in an efficient and competitive way.
One of the initiatives already in progress was the signing of the MOU with the Espírito Santo State Government, the Syndicate of Ornamental Stone Industry (“Sindirochas”) and Porto Central to undertake common efforts for the development of the ZPE.
For more information, visit the website of the Ministery of Industry, Foreign Trade and Services at http://www.mdic.gov.br/czpe/regime-brasileiro-de-zpe and watch the video below from MDIC on the ZPE.