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Honduras Import Regs.: Free Trade Zones

Import regulations, commercial guide of and business travel to the countries in Central America and South America.

Honduras Import Regs.: Free Trade Zones

Postby bridgat » Tue Nov 18, 2008 5:52 am

Free Trade Zones can be managed privately or by the National Port Authority (E.N.P.). The E.N.P. approves all permits to operate in the designated areas and maintains the established guidelines put forth in the FTZ.

A company located in a free trade zone, industrial park or export processing zone is exempt from paying import duties on goods and capital equipment, charges, surcharges, selective consumption taxes, and sales taxes. In addition, the production and sale of goods within these areas is exempt from Honduran federal and municipal taxes. Firms operating in these zones are exempt from income tax for 20 years and municipal taxes for 10 years, and there are no controls or restrictions over the use of foreign exchange or the repatriation of capital profits. Firms operating in the FTZ must grant workers all benefits established by Honduran labor legislation.

Privately owned Tourism Free Trade Zones (ZOLTs) may be established to promote tourism industry development in Honduras. Legislation covering ZOLTs allows the free importation of equipment, supplies, and cargo/passenger vehicles that will exclusively benefit the ZOLT and the construction of its installations. Authorization requests for the operation of a ZOLT must be approved by the Ministry of Tourism and the Ministry of Industry and Trade. This also includes boats, yachts, and aircraft. Revenues generated in ZOLTs are subject to Central Bank regulations.
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