Business & Investment in Gambia
Investing inside the Gambia Free Zones
The Free Zones Act provides the legal framework for setting
up Free Zones and their efficient management. The main thrust
is to create a world-class investment climate in The Gambia
for businesses engaged in manufacturing, processing and
export oriented activities.
Authorised Activities:
Activities authorized for the purpose of investing within
the Free Zones are listed in the Schedule to The Free Zones
Act 2001 and they are:
(a) Warehousing;
(b) Breaking bulk;
(c) Assembling;
(d) Storing, grading, cleaning and mixing;
(e) Labelling, packaging and repackaging;
(f) Processing;
(g) Manufacturing;
(h) Telecommunication and information technology;
(i) Energy;
(j) Financial services and off shore services;
(k) Health and veterinary services;
(l) Transportation services;
Other activities not listed shall be allowed upon the authorization
of the Secretary of State for Trade, Industry and Employment
Investing inside the Gambian Free Trade Zones
Accessing the Incentives
Eligible investors shall be eligible for investment
incentives which shall be accessed as follows:
- A list of all materials required during the construction
and setting-up phases of a venture shall be pre-determined
and approve upon the issue of a licence. This shall be
sent to the Customs and Excise Department with instructions
to waive customs entry duties and taxes upon the presentation
of customs entry forms by licence holders accompanied
by invoices, original bills of lading and packing lists;
- Similar notification shall be sent to the Income Tax
authorities to exempt such taxes at the time of assessment;
- Goods ordered by Zone Enterprises shall be granted temporary
admission by The Customs authorities on arrival to enable
such imports to circulate freely within the Free Zones,
and shall be eventually exonerated from the levy of customs
duties and taxes upon the presentation of evidence that
such goods have been exported to foreign markets. The
modus operandi of the movement of goods in and out of
the Free Zones and the rules governing the conduct of
business within the Zones have been established by GIPFZA
and contained in the "The Free Zones Regulation 2001".
GENERAL APPLICATION PROCEDURES
Applications for Licensing under the Investment Promotion
Act and Free Zones Act must complete the relevant application
forms accompanied by the following documents:
- Four copies of a project proposal document.
- Four copies of company articles of association and memorandum
of understanding
- Four copies of company or business registration certificate.
Business Registration Requirement
Investors wishing to seek GIPFZA's support and assistance
must first register their business ventures as legal entities
operating in The . The process of registering a business
in The has been simplified and requires the filling of the
following documents with the Registrar of Companies:
- Memorandum of Association - includes the name and registered
place of business of the company, its objectives and authorised
share capital subscribed by each share holder
- Articles of association - giving information on the
organisational structure and operational rules of the
company.
Supporting Information
The following additional information must also be furnished:
- The name and address of the proposed business enterprise,
its legal form and bankers;
- The name and address of each director, partner or proprietor,
as the case may be, and the name, address, nationality
and shareholdings of any shareholder who is not a citizen
of The ;
- The nature of the proposed business activity and the
proposed location where that activity is to be carried
out;
- The proposed capital structure and projected growth
over the next five years or more;
- The estimated number of persons to be employed;
- The qualification, experience, nationality and other
relevant particulars of the project's management and staff;
- Strong evidence of sources of financing such as confirmation
of bank accounts, and guarantee documents from financiers
or bankers.
Submission
Application forms (duly completed) together with relevant
accompanying documents must be addressed to:
The Chief Executive
Investment Promotion and Free Zones Agency
Duwa Jabi Building
5 Nelson Mandela Street
Banjul
The
Tel: + (220) 222838
Fax:+ (220) 222829
All application dossiers, which satisfy the general application
procedures are acknowledged within 7 working days.
Gambia Real Estate Services
Our Gambian real estate finder service offers a professional one-to-one service
that takes you through the whole process, from searching hundreds of Gambian
properties and building plots, talking to Gambian estate agents and negotiating
prices, to dealing with lawyers, builders, developers, agents and officials
0ur philosophy in providing this information is
to improve the efficiency of the property search for both you as the client
and us as the buyers agent.
Please feel free to contact
us at any time you would like more information, either by email,
phone, fax or carrier pigeon!
Our staff are well versed, experienced and professional
with excellent knowledge of the property market in The Gambia .
The Government of The Gambia is strongly committed
to private sector empowerment and the creation of an enabling environment
to stimulate private investment in the country, through the combined use of
sound macro-economic and financial programs on the one hand, and complementary
social sector interventions on the other, all with a view to ensure more confidence
in the economy and The Gambia as a safe haven for investment.
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