Panevėžys Free Economic Zone
Panevėžys free economic zone is a special economic zone located in Panevėžys, Lithuania.
Panevėžys Free Economic Zone (Panevėžys FEZ)
Free economic zones (FEZ) or free zones (FZ) are a class of special economic zone (SEZ) designated by the trade and commerce administrations of various countries.[1] There are Kaunas FEZ in Lithuania, Klaipėda FEZ and Panevėžys FEZ. Panevėžys FEZ is 47 ha area, which was established in 2013, in Panevėžys, Lithuania. Panevėžys FEZ is an industrial park with all necessary infrastructure installed and detail plan prepared. Internal roads, power lines, gas pipelines, water supply and sewerage are installed. For clients, who have invested at least 1 million euros, Panevezys FEZ offers tax and duties perks. Panevezys FEZ is a part of Ogmios Group, which is a leading developer in Lithuania. This company specializes in industrial and commercial projects.
Strategic location
The Panevėžys Free Economic Zone (FEZ) is located in strategically great place – it is halfway between Vilnius and Riga.[2] The distance between cities is 150 kilometers. The port of Klaipėda is just 240 kilometers away and Šiauliai international airport is 160 kilometers less. FEZ has connections with "Via Baltica" highway. Panevėžys FEZ is also located near the railway tracks, that also means connections with cities of Russia – Moscow and Kaliningrad.
Investors
"Devold" is Norwegian textile manufacturer, which was founded in 1853. It produces sports textiles and protective clothing.[3] In the summer of 2015 there is scheduled to open factory, which will take up to 15 000 square meters and will employ more than 300 workers.[4]
Tax incentives
| Taxes | Usual tax rates | Taxes FEZ % |
|---|---|---|
| Corporate profit tax | 15 % | 0 (first 6 years), 7,5 (next 10 years) |
| Real estate tax | 0,3 - 3% | 0% |
| Dividend tax | 15% | 0% |
Requires an investment of at least 1 million euros in fixed assets.[5]
References
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