Speed Is the Most Valuable Currency
More than 30 investors from different countries in a single place, almost five and a half thousand employees and total yearly revenue of a billion euro. That is the best way to describe the biggest business community in western Lithuania, the Klaipeda Free Economic Zone (FEZ). Today, it is one of the most important business arteries in the region, circulating products, services, jobs, income, and unique experience, 15min.lt, a major Lithuanian news website, reports.
Klaipeda FEZ – the biggest in Lithuania
A free economic zone is a place where special, often advantageous, legal and tax rules apply. The CEO of the Klaipeda FEZ, Eimantas Kiudulas, says that the main tool of tax relief in Lithuanian Free Economic Zones for investors are the zero tariff for corporate tax for the first 10 years of operation (as well as a reduced tariff for six more years), and zero property tax. “Usually, in worldwide practice, Free Economic Zones are established to encourage economic activity in a certain city, a specific region or the entire country by attracting investors from abroad,” he says.
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