Municipality of Grecia and Evolution Free Zone boost Foreign Direct Investment Promotion and Attraction
16 de July de 2021
Evolution Free Zone: More than just a Business Park
28 de July de 2022
Evolution has been declared a Free Trade Zone
November 2021. On the second day of November, 2021, Evolution Free Zone , a business park located in Grecia, Alajuela was granted the declaration of admission to the Costa Rican Free Trade Zone Regime, a fundamental incentive for companies wishing to set up operations in the Park.
“Evolution Free Zone is an innovative and highly competitive option, both locally and internationally. It is the ideal place for global companies to invest and set up their operations in an industrial and technology park, as well as to meet the expansion or relocation requirements of companies already operating in the country,” said Alvaro Carballo, President of CODE Development Group.
Being located outside the Greater Metropolitan Area, Evolution Free Zone has special incentives that include 100% income tax exemption for a period of 12 years and a 50% exemption for the following 6 years, among others.
The Free Trade Zone Regime is the mainstay of Costa Rica‘s export and investment promotion strategy. It consists in a set of incentives and benefits granted by the Costa Rican government to companies making Foreign Direct Investment, and it provides tax incentives on income, imports and exports of goods. This allows companies to have access more efficiently to any needed production inputs, as well as to add specialization and value to make final products locally, and finally reach end markets in an easier way. Learn more.
“We want companies in the Life Sciences industry, smart manufacturing, knowledge intensice services, research and development, and startups to find in Evolution the ideal place to develop their companies, and the Free Trade Zone regime allows us to be more competitive in comparison to other options in Latin America,” said Carballo.
