Investment

Doing Business on Montserrat

Montserrat presents a compelling investment destination, underpinned by political stability, attractive tax incentives, and a well-established legal framework that safeguards investor rights. The island’s growing tourism industry offers vast potential, with investments in hotels, resorts, and eco-tourism initiatives. Its unique volcanic landscape and cultural heritage also provide a rich backdrop for creative industries, blending arts, music, and festivals into the island’s cultural identity.

Montserrat’s focus on sustainability opens opportunities in renewable energy projects, including geothermal and solar power. Additionally, fertile land and marine resources offer prospects in agriculture and fisheries, while the favourable tax regime supports offshore financial services, making Montserrat an appealing choice for investors across various sectors.

Businesses in Montserrat

Montserrat is home to several successful brands and businesses, some of whom have operated locally for decades.

Construction and Engineering	Energy and Natural Resources	Sand and Aggregate Mining and Exportation
Galloways Construction Group	Delta Petroleum Ltd	Shamrock Industries Ltd.
Ryan Investments	GSI	GES LLC
Alford Dyett & Associates	RMI	Eddies Trucking Ltd.
EDC Ltd.		Wall Trading Ltd.
K J Cassell Consultants Ltd.	Information, Communication and Technology	Selsi Ltd.
Lab Works Ltd.	C&W Business
Lenjoy Construction	Digicel	Shipping and Logistics
Meridian Construction	Submarine Cable Networks	Emerald Express
Hardware	FLOW	RAM Shipping
MSO M.S. Osborne Ltd		CARIBTRANS ⁠⁠Complete Cargo Solutions
Nigel Osborne Enterprise Ltd		DHL
BBC Hardware		FedEx
		Pak YA

Trade Treaties and Incentives

Montserrat has a number of trade treaties, reliefs, and agreements in place to help it maximise the benefits of foreign trade and investment.

Caribbean Free Trade Association (CARIFTA)	Incentives ⁠CARIFTA is intended to encourage balanced development of the Region by increasing trade—buying and selling more goods among the Member States; diversifying trade—expanding the variety of goods and services available for trade; liberalising trade—removing tariffs and quotas on goods produced and traded within the area; and ensuring fair competition– setting up rules for all members to follow to protect the smaller enterprises.
Caribbean Community and Common Market (CARICOM)	Incentives ⁠The arrangement is to facilitate free movement of goods, services, labour and capital, as well as the right to commercially establish businesses throughout the Community.
Commonwealth Caribbean Countries Tariff	Incentives ⁠Commonwealth Caribbean Countries Tariff (“CCCT”) treatment - Canada unilaterally provides preferential access to imports from 18 Commonwealth Caribbean countries. Under the CCCT, which was introduced in 1986, eligible imports from these countries are provided duty-free access.
Caribbean Basin Economic Recovery Act (CBERA)	Incentives ⁠CBERA generally provides for duty-free entry of goods into the United States from designated beneficiary countries.
EU – Overseas Countries and Territories (OCT)	Incentives ⁠The purpose of this association is to promote the economic and social development of the OCTs and to establish close economic relations between them and the Union as a whole.

Investor Rights Protection Mechanism

Montserrat has implemented several checks and safeguards to ensure the protection of local and foreign-owned enterprises. Some of the checks and safeguards are highlighted below:

Rules of foreign ownership		Company Registration Requirements: Under the Companies Act, foreign investors can establish or hold shares in companies in Montserrat, but they must register their businesses and comply with local regulations. Foreign-owned companies must provide the necessary documents and adhere to corporate governance rules.
Protections against expropriation by government of an enterprise	Montserratian Company Act 2023, guard against:	Nationalisation of an enterprise by the government and the compulsory dispossession of an investor of his/her interest in the capital of an enterprise. Acquisition of an enterprise by the government unless such an acquisition is in the best interest of the public.
New York Convention Membership	Arbitration Act and Related Legislation 202 of the Laws of Montserrat, provides:	As a British Overseas Territory, Montserrat can benefit from the UK’s membership in the New York Convention, which applies to its overseas territories. This means that foreign arbitral awards can be recognized and enforced in Montserrat under the Convention, provided the necessary legal framework is in place.it also makes applicable the Convention on the Recognition and Enforcement of Arbitral Awards.
Ability to remit profit and take loans		Montserrat, as part of the Eastern Caribbean Currency Union (ECCU), follows regulations set by the Eastern Caribbean Central Bank (ECCB) on foreign exchange controls.
Bilateral Investment Treaties		Montserrat does not directly benefit from bilateral investment treaties (BITs), as it is a British Overseas Territory. As such, Montserrat’s investment protection and international trade agreements typically fall under the UK's international agreements, including any BITs the United Kingdom has signed.

Costs and Skills

All the costs of doing business – energy, property, water, telecommunications & data, transportation and personnel and the skills of the Montserratian workforce.

Energy costs

It is estimated that diesel fuel costs account for 50-55% of MUL’s annual operating expenses, and a 58% rise in fuel costs over the last five years has compounded the problem of diesel-fuel dependency.

Eligible customer regulation

MUL customers can pay their bills online or in person at the office located in St. John’s where cash or cheques are accepted.

Electricity usage is calculated monthly using a tier system, with domestic customers having two blocks and commercial, industrial, and streetlight customers having one block, with respective tariff rates.

Electricity Tariff

The island's limited fuel storage capacity leads to frequent deliveries, increasing costs and resulting in a fixed fuel surcharge, making electricity unaffordable for many.

Despite these challenges, Montserrat’s energy landscape holds real potential for transformation through investment in renewable energy solutions.

Land acquisition in Montserrat

The stamp duty or non-citizen landholding licence for Montserrat Real Estate is $2500 or $5%, whichever amount is greater.

Land ownership	The ownership of land in Montserrat by a non-Montserratian is governed by the Landholding Control Act (Cap. 8.02). A non-Montserratian wishing to hold land as owner, tenant or mortgagee in Montserrat is required to apply for a landholding licence.
Assignment and transfer of title	Sale of real estate does not involve actual selling and purchasing. There is only the transfer of rights from one person to another. The seller assigns the rights to use and occupy the land to the buyer. After the transaction, the buyer applies for a new certificate under his or her name.
Consent fee	In Montserrat, a government tax on property transactions is called the Consent Fee. Usually, it represents a portion of the sale price of the property. The type of property, its location, and other variables may affect the precise Consent Fee rate. The fee is usually calculated as a percentage of the property's sale price. The specific rate can vary, but it is typically between 1% and 5%.
Stamp Duty	Stamp Duty is a tax imposed on the transfer of property in Montserrat. The specific rate of Stamp Duty can vary depending on the type of property, its value, and other factors. The Stamp Duty is typically paid by the buyer at the time of the property transfer.
Confirmation of title	Confirming the title of a property in Montserrat is a crucial step before any purchase or investment. This ensures that the seller has clear ownership rights and that there are no encumbrances or legal issues affecting the property. A local attorney can help you interpret the title search results, identify any potential issues, and provide guidance on the legal aspects of the property purchase.
Expropriation risk	Montserrat's expropriation risk is minimal due to the UK's legal framework and protection of property rights, which typically avoids arbitrary expropriations. However, it's important to note that expropriation can occur in exceptional circumstances, such as for public interest purposes, like infrastructure development or national security. In such cases, the government would typically provide fair compensation to property owners.

Land acquisition in Montserrat: requirements and costs

The ownership of land in Montserrat by a non-Montserratian is governed by the Landholding Control Act (Cap. 8.02). A non-Montserratian wishing to hold land as owner, tenant or mortgagee in Montserrat is required to apply for a landholding licence.

The list of processes, documents and fees required to acquire land are presented below:

Service name	Cost
The applicant must submit an application for a landholding license to the Permanent Secretary of the Ministry of Agriculture and a copy to the Registrar of Lands. An attorney-at-law may submit the application on behalf of the applicant.	N/A
The application must clearly set out: (a) the reference number of the land (Block & Parcel Number) which is the subject of the application; (b) a brief description of the land; (c) the correct full name of the applicant; (d) the nationality of the applicant; and (e) the consideration (purchase price) of the property which is the subject of the application.	N/A
An application will only be accepted for a whole parcel. If an applicant desires to purchase part of a parcel, he or she must ensure that the parcel is first subdivided and the part that he or she desires to purchase is given its own block and parcel number.	N/A
The application must be supported by a legible copy of the photo page of the passport of the applicant.	N/A
On submission of the application, the Land Registry reviews the application to ensure that all the relevant information is provided.	N/A
If further information is required, a request for additional information is made to the applicant.	N/A
The Land Registry prepares a Cabinet Memorandum and draft landholding license after providing sufficient information, submitting both documents to the Minister of Agriculture, Lands, Housing, and the Environment.	N/A
The Minister submits the Cabinet Memorandum, application, and draft landholding license to Cabinet for Governor approval, following Cabinet's advice.	N/A
The Ministry of Agriculture, Lands, Housing and the Environment reprints the approved landholding license, signed by the Governor, if no amendments or discrepancies are found.	N/A
If there are amendments or discrepancies, these are corrected by the Ministry of Agriculture, Lands, Housing and the Environment and the draft landholding licence is re-printed on approved paper and signed by the Governor.	N/A
Approval of the application by Cabinet usually takes 1 – 2 weeks and the landholding licence may be subject to conditions.	N/A
The signed landholding licence is submitted to the Land Registry and an instrument number is assigned to the landholding licence.	N/A
The Permanent Secretary of the Ministry of Agriculture, Lands, Housing and the Environment sends a letter to the applicant or their attorney-at-law confirming the approval and any required license fees.	N/A
The applicant is required to pay the licence fee at the Treasury Department.	$2,500 or 5% of the consideration (purchase price) paid for the land, whichever of the two is greater.
The applicant, after payment of the licence fee, submits the receipt to the Registrar of Lands as proof of payment.	N/A
On satisfaction that the requisite licence fee has been paid, the Registrar of Lands signs the back of the landholding licence.	N/A
The landholding licence can then be collected by the applicant or his attorney-at-law.	N/A

Water costs

Montserrat is known for its natural spring water that is used widely across the island for a number of different uses ranging from domestic to commercial.

The primary water utility service provider in Montserrat is the Montserrat Utilities Limited (MUL). This government-owned entity is responsible for the production, distribution, and management of water resources on the island.

Access

There are six springs namely Killiecrankie, Hope, Olveston, Quashie, Lawyers, Forgathy springs and one well that currently supply water to the four thousand and ninety-six (4096) connections to the piped water system on island.
Montserrat now has 11 reservoirs with a combined capacity of 1,665,000 gallons of water.

Reservoirs along with their respective total capacity

Reservoirs	Capacity
Baker Hill	480,000
Devy Hill	20,000
Lower Dick Hill	100,000
Upper Dick Hill	40,000
Friths	60,000
Hope 1	135,000
Hope 2	400,000
Lawyers 2	150,000
Mars Hill	40,000
Olveston	60,000
St. Peters	180,000

Source: Montserrat Utility Limited (2020)

Installation requirement

Proof of ownership of the property. (Bill of sale & or certificate of title)
Proof of identity (Passport, Driver’s License & or Social Security card).
For corporate bodies, an application on the company’s letterhead, signed by at least one director and the company’s secretary and the company’s seal affixed thereto with the submission of a copy of the Certificate of Incorporation.
A minimum deposit of $100 is required for water applications

Potable water Supply Tariffs by Montserrat Utilities Ltd.

Gallons per month	Household (XCD$ per 1000 gallons)	Commercial (XCD$ per 1000 gallons)
1,000 – 2,000	18	28
3,000 – 4,000	21	31
5,000 – 6,000	24	34
7,000 – 8,000	27	37
9,000 – 10,000	30	40
11,000 – 12,000	33	43
13,000 – 14,000	36	46
15,000 – 16,000	39	49
17,000 – 18,000	42	52
19,000 – 20,000	45	55
21,000 – 22,000	48	58
23,000 – 24,000	51	61
25,000 – 26,000	54	64
27,000 – 28,000	57	67
29,000 – 30,000	60	70
Above 31,000	63	73

Source: MUL

Telecommunications (data) costs

Telecommunications in Montserrat continue to evolve with rapid technological advancements and increasing broadband penetration.

Key drivers for Montserrat broadband demand include:

As a tourism-dependent economy, Montserrat relies on reliable broadband infrastructure for online bookings, marketing, and communication with visitors.
The growth of e-commerce in Montserrat requires fast and reliable internet for online transactions and logistics.
Broadband is essential for accessing online educational resources, distance learning programs, and virtual classrooms.
The government may be implementing e-government initiatives, which require reliable broadband for online services, communication, and data management.
Montserrat residents increasingly rely on broadband for streaming movies, TV shows, and music.

Key Industry Statistics

Total active voice subscriptions	9,377 ⁠(2023)
Total active 3G-5G subscriptions	70.6% ⁠(2023)
Smartphone adoption (2023)	2,397 smartphone connections
Teledensity	100 per 110 persons ⁠(2020)
Broadband Penetration	54.6% ⁠(Jan 2023)
bn ⁠Smartphone adoption rate (2023)	213.6%

Source: https://www.slideshare.net/slideshow/digital-2023-montserrat-february-2023-v01/255847457#17

Personnel costs

While the cost of personnel is role- and industry-specific, employers must stay abreast of the provisions of Montserratian Labour Law.

Average Monthly Income by Occupational Grouping (2020)

Occupational Group	Estimated Average monthly Income (EC$)
Managers	5,779
Professionals	4,871
Technicians & Associate Professionals	3,304
Clerical Support workers	2,519
Service and sales workers	1,856
Skilled Agricultural, Forestry & Fishery workers	1,211
Craft and Related Trades workers	2,284
Plant & Machinery Operators & Assemblers	2,080
Elementary Occupations	1,482

Estimated Monthly Income Earnings by Industrial Grouping

Industrial Grouping	Estimated Average Monthly Income (EC$)
Agriculture Hunting & Forestry & Fishing	1,516
Mining & Quarrying	2,636
Manufacturing	2,198
Electricity, Gas, Water Supply	2,973
Construction	2,875
Wholesale & Retail Trade	2,333
Transport Storage and Communication	3,044
Financial Intermediation	4,007
Real Estate, Renting & Business Activities	2,640
Education	3,524
Health & Social Work	2,949
Public Administration & Defence Compulsory Social Security	4,304
Hotels & Restaurants	1,221
Other Community Social and Personal Service Activities	2,454

Source: Montserrat Statistics Department, Labour Force Survey September 2020

Cost of work permit ($)

Expatriates (All fields)

50.00

Some stipulations in the Labour Act being highlighted include:

Scope
⁠The Act does not cover persons exercising administrative, executive, technical or professional functions as public officers or otherwise.

Maternity leave
⁠The Law typically provides 3 months with pay. This leave is granted to female employees who have completed at least 12 months of continuous employment before the commencement of their maternity leave.

Paternity leave
⁠The law provides paternity leave not exceeding 2 weeks with pay to be taken.

Trade unionism
⁠With the exemption of the Police Service, every employee has the right to take part in the formation of a trade union or federation of trade unions.

Severance pay
⁠The Law references highest weekly basic rate as the basis of computing payment in lieu of notice as opposed to fixed pay (basic salary and other cash allowances/items).

Unfair dismissal
⁠An employer may, during the probationary period of an employee or where the employee’s employment is for a term not exceeding 3 months, terminate the employment of the employee for any valid and fair reason with 24 hours’ notice.

Child labour
⁠Employers must maintain a register of all employees under 18, including their names, addresses, birth dates, and employment start and end dates. Employers who fail to comply are guilty of an offense and can face a fine of $3,000 upon summary conviction.

Worktime and leave
⁠Normal full-time work hours in Montserrat is Forty (40) hours per week after which constitutes overtime. Workers are also entitled to an annual leave of at least 6 days working days with full pay.

Source: Montserrat labour code (2012)

Personnel (workforce) skills

According to the 2023 Population and Housing Census, Montserrat's labour force, consisted of 2,574 persons – 1,294 males and 1,280 females.

Establishing a business in Montserrat

Applicable vehicles / business structures

Private companies limited by shares are the most common form of business organisation adopted by foreign investors in Montserrat under the Companies Act 2023.

Company registration can now be completed online at: https://cipo.fsc.ms/

Business can be carried out in Montserrat through any of the following vehicles:

Sole Proprietorship	Partnership	Incorporated Companies
The sole proprietorship form of business is typically used by individuals intending to do business on their own account.	In general partnership partners are joint owners of the partnership property and are personally liable for the firm’s obligations.	The word ‘company’ is used to describe an entity incorporated with limited or unlimited liability and registered under the Companies Act 2018.
The major statutory requirement is the registration of a business name, where a name, other than the sole proprietor’s actual name, is used as the trading name.	In a limited partnership, there must be at least one general partner who will have unlimited liability with respect to all the debts and obligations of the firm.	Depending on the nature of the company's business, it may be subject to additional regulations, such as those governing environmental protection, labour standards, or financial services.
	In a limited liability partnership, all the partners are legally capable of limiting their liability in the event of the partnership being wound up.	Foreign companies have a choice to set up wholly-owned or partially-owned subsidiaries or affiliates in Montserrat.
	Non-resident foreigners may not be able to use a partnership as a vehicle for running a business in Montserrat.	The most common type of company is a company limited by shares. A private company must have a minimum of two and a maximum of 50 members.

Process and requirements

The Trade, Quality Infrastructure and Business Support Division, under the Office of the Premier, is responsible for creating a competitive business environment through supportive policies and legislations.

The business incorporation process

Businesses can be registered at the Companies and Intellectual Properties Office, Financial Services Commission (FSC). Businesses may be registered under either of the following Acts:

Registration of Business Names Act
Companies Act

Form 26 - Completed Name Search and Reservation Form

Form 1 - Articles of incorporation signed and dated

By-Laws of the Company (optional - model by laws may be adopted)

Form 9 - Notice of directors signed and dated

Form 4 - Notice of address of registered office signed and dated. The registered address should not include a P.O. Box

Declaration of an attorney at law as to the capacity of the persons forming the company.

Businesses can be registered according to their legal framework namely:

Sole proprietorship
Private company
Public company
Non-profit company
Limited liability company
Partnership
Company limited by guarantee

Living in Montserrat

The visa application process is quite clear and can be completed electronically in the applicant’s country of residence.

Eligibility criteria for a visa

Anyone with a valid passport who wishes to enter Montserrat, as a visitor or on business is eligible to apply.

Requirements for visa

A valid passport with at least six months validity from the date of entry into Montserrat is required.
A visa is required for most nationals except those from exempted countries including the United States, Canada, the United Kingdom, and most Caribbean countries.
The visa application form must be completed and signed, with a recent passport-sized photograph attached.
Proof of sufficient funds to cover the expenses during the stay in Montserrat, such as bank statements or a letter from the bank, must be provided.
A return or onward ticket or proof of travel arrangements out of Montserrat is required.
Proof of accommodation arrangements, such as hotel reservations or a letter of invitation from a sponsor, must be provided.
A medical certificate and proof of yellow fever vaccination may be required for visitors coming from certain countries.
Additional documents or requirements may apply depending on the purpose of the visit, such as business or study.

How to apply

The process for applying for a Montserrat visa may vary depending on your nationality and the purpose of your visit. Generally, you can apply online through https://www.immigration.ms

Requirements for Resident Permit

Valid Passport
Proof of sufficient funds
Proof of property ownership
Other supporting documents

Validity

1 year

Requirements for Economic Residence

Have business experience and a legally obtained net worth of more than EC$400,000;
and
Provide a signed Statement that they intend to make a Commercial Investment in Montserrat. For more information, read here.

Further requirements for expatriate employees

Completed application form
Valid passport
Employment contract
Proof of educational qualifications
Curriculum Vitae

Validity

Varies

Other information

How to apply

To obtain a Montserrat Resident Permit, visit the Immigration Department in Montserrat and submit an in-person application, accompanied by necessary documentation such as a passport and police clearance certificate.

Fees

$50 per for all categories of expatriates.

Timeline

Five (5) working days from the date of receipt of application.

Taxation and Incentives

Applicable taxes and incentives

The Montserrat Customs and Revenue Service (MCRS) is mandated by Law and otherwise to collect assigned revenues by way of the Taxes and Fees and to provide such other assigned service for the Government of Montserrat.

Company Income Tax
⁠(CIT)

Capital Gains Tax
⁠(CGT)

Value Added Tax
⁠(VAT)

Import Duties

Export Duties

Personal Income Tax
⁠(PIT)

30%

None

5 – 30%

None

Progressive

Levied on the income of companies operating in Montserrat.

No specific capital gains tax is levied.

Montserrat does not impose VAT or any similar goods and services tax.

Payable on goods imported into or exported from Montserrat based on their value and classification.

• Varies, generally between 5% and 30%, depending on the type of goods.

No export duties are imposed on goods leaving Montserrat.

Tax on individual income, both residents and non-residents.

• Progressive rates:

- 10% on the first XCD 18,000

- 20% on income between XCD 15,001 - 30,000

- 30% on income above XCD 30,000

Other taxes include:

Social Security Contributions. ⁠5%	• Contributions by employers and employees toward social security. ⁠• 5% from employees and 6% from employers.
Property Tax ⁠0.03%	• Tax on the value of property. ⁠• 0.03% of the property’s assessed value.
Consumption Tax ⁠Varies	• Applies to specific goods such as fuel, alcohol, and tobacco. ⁠• Varies by product
Vehicle Tax ⁠Varies	• Annual tax on motor vehicles based on weight and type. ⁠• Varies, with rates ranging from XCD 250 to XCD 2,000 depending on vehicle classification.
Hotel Occupancy Tax ⁠7%	• Tax on hotel and accommodation stays. ⁠• 7% on hotel occupancy.
Withholding Tax	• For payments made to non-residents ⁠• 10% rental of immovable property ⁠• 20% on rental of movable property ⁠• 15% on dividends ⁠• 15% on interest ⁠• 20% other payments

Montserrat has concluded double tax treaties with the following countries:

Treaty Partner

Benefits

United Kingdom

Double Taxation Agreement (DTT)

• Prevention of Double Taxation on income such as profits, salaries, pensions, and royalties.
⁠• Residency and Permanent Establishment rules to determine where income is taxed.
⁠• Tax Relief Mechanisms like tax credits or exemptions on income taxed in both countries.
⁠• Dividends, Interest, and Royalties taxation guidelines.

CARICOM (Multilateral)

Double Taxation Agreement (DTT)

• Covers member states of CARICOM, including Montserrat.
⁠• Aims to prevent double taxation on cross-border income.
⁠• Tax Relief Mechanisms ensure tax credits or exemptions for income taxed in both jurisdictions.
⁠• Provisions for taxation of employment, business income, and capital gains.

Business Promotion Incentives and Initiatives

The government has also implemented various incentives and initiatives to improve the attractiveness of the Montserrat investment landscape.

Tourism Development Incentives ⁠• Duty-free concessions and tax exemptions for hotels and other tourism-related projects ⁠• Investment in new or expanding tourism-related businesses, such as hotels and guesthouses. ⁠• Duty-free imports and exemption from hotel occupancy tax during early years of operation.	Government Support Programs ⁠• Advisory and support services from Invest Montserrat. ⁠• Available to all investors seeking assistance. ⁠• Guidance and advisory services for navigating incentives and regulatory requirements.
Renewable Energy Incentives ⁠• Tax and duty exemptions for businesses in the renewable energy sector. ⁠• Investment in geothermal, solar, wind energy, or other renewable energy projects. ⁠• 100% exemption on taxes and duties related to renewable energy equipment and development.	Tax Holidays ⁠• Corporate income tax exemptions for businesses in priority sectors like tourism, infrastructure, and energy. ⁠• Must invest in approved priority sectors. ⁠• Up to 5 years of full corporate income tax exemption, extendable for larger investments.
Small Business Incentives ⁠• Support for small and medium enterprises (SMEs) through tax concessions and reduced duties. ⁠• Registration as a small business in approved sectors (e.g., agriculture, retail, services) ⁠• Income tax holidays and reduced import duties on essential equipment.	Import Duty Exemptions ⁠• Exemptions on customs duties for imported equipment, machinery, and building materials. ⁠• Importation of goods for approved projects in sectors like construction, tourism, and manufacturing. ⁠• Up to 100% exemption on import duties for eligible goods.

The Government of Montserrat, through a combination of government agencies and departments has developed the Compendium of Investment Incentives in Montserrat with the primary aim of providing and disseminating up-to-date information on the various incentives available to investors in Montserrat.

The Compendium is a compilation of the fiscal incentives in Montserratian tax laws and sector-wide fiscal concessions that have been duly approved by the Government of Montserrat.

Incentives	Agriculture	Solid Minerals	Manufacturing	Tourism & Hospitality	Power/renewable energy
Tax holidays	◉	◉	◉	◉	◉
Reduced corporate tax rate	◉	◉	◉	◉	◉
Investment allowances	◉	◉	◉	◉	◉
Grants and subsidies	◉	◉	◉	◉	◉
Loan guarantees			◉		◉
Equity participation
Duty free exemption	◉		◉	◉	◉
Customs facilities
Infrastructure development	◉				◉
Land Allocation					◉