Select your Top Menu from wp menus

Investment incentives in Gambia

Investment incentives in Gambia

The Gambia offers attractive incentive packages to investors under the Gambia Investment Promotion Act 2001 & Free Zones Act 2001 for all sectors of the economy. These include exemptions from import duties and tax holidays.

Sic Incentives

For the purpose of investing in the domestic economy, the Government has identified a number of sectors as priority areas and investing in these sectors will give access to attractive and special investment incentive. These sectors include: – Priority Sectors: Agriculture, Forestry and Fisheries, Health, Education, Manufacturing, Skills Development, Communication, Energy, Mineral Exploitation, Services (financial, offshore banking, health and veterinary services, river transportation, information technology).

Eligibility Conditions

Special Investment Status shall be conferred to investments, which fulfil the following eligibility criteria. The establishment of a company or partnership under the laws of The Gambia;

  • Investment in fixed assets of at least one hundred thousand United States Dollars or its equivalent at the time of application for the incentives
  • Investment must be outside the Free Zones

Benefits to Special Investment Certificate Holder

  • Exemption from withholding tax and tax on dividends
  • Exemption from customs duties on the following items
  • The approved capital equipment, machinery, appliances, furniture and fittings imported to be used by the project or business
  • The approved quantity of semi-finished products, spare parts, raw materials and other supplies to be used in the production process
  • Exemption from the turnover tax
  • Preferential treatment for land allocation for the site of the proposed investment and the provision of infra-structural facilities
  • Special and attractive scheme of accelerated depreciation as set out in the Second Schedule to the Investment Promotion Act.

Fzl Incentives

As a strategy for developing the export potential of the country, GIPFZA is also developing Free Zones in specially selected locations to enable investors to operate in an environment that has the ideal set of infrastructure and special tax incentive regimes.

Eligibility Conditions

Transactions in the Free Zones shall be denominated in foreign exchange. Investment in the zones should be sufficiently viable both commercially and financially. Sufficient generation of domestic value added to quality finished product for conferment of origin status;

  • Employment generation and training of nationals
  • Ability to export a substantial portion (70%) of output in foreign markets
  • Positive contribution to the formation of domestic productive capital
  • Special attention and encouragement shall be extended to the establishment of single factory or stand-alone free zones outside the Greater Banjul Area

About The Author

John Muhaise-Bikalemesa (JMB), is the founder of blog and company. Learn more about him here and connect with him on his social medias below

Related posts

Leave a Reply