FinExpertiza to advise residents of first industrial zone in Egypt

5 June 2018


The Russian Industrial Zone (RIZ) in Egypt will start to operate in December 2018; construction works on production facilities are planned for June 2018. A number of related documents have been signed in XIth Intergovernmental Session between Russia and Egypt. FinExpertiza network took part in this event.

This project has been the first experience for Russia to develop an industrial zone beyond its boundaries.

The Egyptian side intends to give preferences for the zone residents, 50-year right to use the land at a nominal fee and a grace period, reduced utility tariffs, higher limits for foreign employees in resident companies. Corporate income tax is expected to be 10%, unified income tax for sole proprietors - 10%, personal income tax - 5%. Sales tax for domestic sales for residents will be zero.

The Russian side displays its interest in investing in the industrial zone through Russian Fund of Direct Investments. Such companies as Gazprom Neft, KamAZ, GAZ group, UAZ, Renault, Tatneft, Inter RAO, Transmashkholding and others can become residents of the Russian industrial zone in Egypt.

You can get our advice on how to open a representative office there through the offices of FinExpertiza international network both in Russia and Egypt.

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