07 part 1. Jeju & Investment Incentives ③ Special Tax Treatment Control Act National taxes Exemption on corporate tax (up to 5 yrs, partial reduction thereafter) Local taxes Exemption on acquisition tax, and registration license Reduction oon property tax when the business (factory) is relocating from dristrict area. Eligible areas Complex type, development type, and service type Support details Rent reduction ① Foreign Investment Zone Eligibility criteria Companies with foreign investment ratio of 30% or more ③ Cash support for foreign investment Support details Support for establishing factories and research facilities * Cash support: A system of paying some of the business expenses in cash when certain requirements are met in order to promote foreign investment that contributes significantly to the national economy, such as businesses accompanying new growth engine technologies, companies involved in businesses related to advanced technology and high-tech products, and companies that create jobs on a large scale Eligibility criteria Foreign-invested companies, foreign technicians, and foreign workers Support details - Foreign-invested companies: Reduction of acquisition tax and property tax for business real estate properties and exemption of customs duties, individual consumption tax, and value-added tax (for up to 5 years) - Foreign technicians: 50% reduction in labor income tax (for up to 5 years) - Foreign workers: Application of a single tax rate of 19% (for up to 5 years) ② Exemption on taxation for foreign investments according to 「Restriction of Special Taxation Act」 - Foreigners under Articles 18 to 20 of the Foreign Investment Promotion Act For Foreign Investment Eligibility criteria Companies with foreign investment ratio of 30% or more ④ Support for foreign investment under the 「Jeju Special Self-Governing Province Investment Promotion Ordinance」 Support details Support for establishing factories and research facilities * Definition of “foreign-invested company”: A company or nonprofit corporation with foreign investment ratio of 30% or foreigner as primary shareholder defined in Article 2 (1) 6 of the Foreign Investment Promotion Act * For more information on the incentives for investing in Jeju, please refer to the 2023 Jeju Corporate Investment Support Program Brochure. Scan me!
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