Benefits Extended to Free Zone Companies

Tuesday, February 11, 2020

In Honduras, a law reform was approved that simplifies the procedures that local and foreign companies must follow to take advantage of the Free Zone Law and extends for 15 more years the benefits that it grants to the companies of the regime.

From the National Congress of Honduras' statement:

The law was more than 44 years old and needed to be updated to make Honduras competitive

The reforms to the Free Zone Law, promoted by the president of the National Congress, Mauricio Oliva, and approved on Thursday, guarantee the permanence of more than 160,000 jobs that have arisen under this legislation and ensure the creation of 15,000 new jobs in the next two years.

One of the most important reforms is the updating and modernization of this law, which dates back to 1976, that is, 44 years ago.

With the approval in the heart of the Legislative, the State assures to the national and foreign companies favorable conditions of investment, to recover the confidence in the legal security and simplicity in the administrative procedures to its minimum expression.

In this way, the economic spill of 150 billion lempiras per year will continue in the form of salaries, social compensation, payment of benefits, local purchases and payment of services that the Free Zone Law has generated.

Read full statement (In Spanish).

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