Tax Incentives
Various tax benefits are provided by the government for the IFEZ [ Possible to simultaneously apply for the various incentives of the IFEZ ]
“Foreign Investment Corporation”
| 1. Customs Reduction Benefits | 2. National Tax Reduction Benefits : Corporation tax/income tax | 3. Local Tax Reduction Benefits |
|---|---|---|
| 100% reduction for 5 years | 50% reduction for 2 years following 100% reduction for the first 3 years | 100% reduction for 10 to 15 years |
Import of capital goods |
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Estate Investment Immigration System
A system for conferring residence qualification (F-2) on those engaged in free economic zone activities and permanent residence qualification (F-5) after 5 years on persons investing the standard or greater amount in the leisure facilities in the region has been announced by the Minister of Justice
- Investment Region
- The entire area of Wunbuk-dong and Wunseo-dong, Jung-gu, Incheon (Part of the Yeongjong district)
- The entire area of Yeonsu-gu and Seo-gu, Incheon (The Songdo district and the Cheongna International City) [Including the International Passenger Terminal site]
- Investment Target
- One facility each of the real estate projects in ‘The Wunbuk Leisure Complex’, ‘The stage 1-② (the Complex Resort District) of the Yeongjong Sky City’, Songdo district [Including the International Passenger Terminal project site], and the Cheongna International City will be designated and approved by the Minister of Trade, Industry and Energy according to Articles 4 and 9 of the Special Act on Designation and Management of Free Economic Zones Investment targets of ① leisure condominiums, ② hotels, ③ houses constructed in linkage with fitness facilities, ④ country houses, and ⑤ tourism pensions
- Investment Standards
- An investment amount of 0.7 billion KRW or more / In the case of selling condominiums in lots, the regulations on selling-in-lots will be relaxed from one room for five persons to one room for one person.
- Effective Period
- May 1, 2013 to April 30, 2018
