Legal Regime of Foreign Investors and Enterprises With Foreign Investments

BUSINESS TURKMENISTAN
Legal Regime of Foreign Investors and Enterprises With Foreign Investments
Enterprises with foreign investments, branches of foreign legal entities have the right, without a license, to export products (works, services) of their own production and import products (works, services) for their own needs.

Foreign investors, enterprises with foreign investments are provided in the form of a legal national regime that the activities of foreign investors, enterprises with foreign investment and the use of profits received from investments cannot be less favorable than the legal regime of activities and the use of profits received from investments provided national investors.

Foreign investors, enterprises with foreign investments operating in the territory of the free economic zone is provided in the form of conducive legal regime, legal regime of activity of foreign investors, enterprises with foreign investment and use of profit gained from investment is not less favorable than the legal regime of activity and use of profits received from investments granted to investments of any third state.

Customs exemptions

Exempt from levying customs duties property imported to Turkmenistan as a contribution of foreign investor to the statutory Fund in accordance with its stated list of enterprises with foreign investment in fixed assets of the branch of foreign legal entity.

Foreign investors and enterprises with foreign investments are exempted from customs duties on the basis of international treaties and contracts concluded in accordance with the decisions of the Cabinet of Ministers of Turkmenistan for the payback period of the investment project established by the relevant agreement.

Other measures to stimulate foreign investment

Enterprises with foreign investments, branches of foreign legal entities have the right, without a license, to export products (works, services) of their own production and import products (works, services) for their own needs.

Foreign investors, enterprises with foreign investments operating in the territory of the free economic zone have the right to lease land plots depending on the payback period of investment projects in the manner established by the legislation of Turkmenistan.

Registration of investment projects, as well as enterprises with foreign investments, branches and representative offices of foreign legal entities engaged in the construction and operation of facilities in the free economic zone, is carried out without charging registration fees.

Foreign investors, enterprises with foreign investments operating in the territory of the free economic zone are exempted from the following:

1) payment of consular and registration fees;

2) payment of exchange fees for the registration of contracts;

3) payment of the state fee for the issuance of a license and its renewal;

4) rent for land in the manner and on the conditions provided for by the legislation of Turkmenistan:

5) deductions from profits to extra-budgetary funds established by the legislation of Turkmenistan.

Certification of equipment and materials imported into Turkmenistan by foreign investors, enterprises with foreign investments, as well as their contractors and subcontractors engaged in the construction and operation of facilities in the territory of the free economic zone, is carried out without charging a fee for certification services.

Enterprises with foreign investments, branches of foreign legal entities independently determine the conditions for the sale of their products (works, services), except for products (works, services), the prices of which are regulated by the state.

In the interests of social and economic development of Turkmenistan, priority investment projects, concession agreements that ensure sustainable economic growth, progressive structural changes in the country's economy, strengthening and increasing the export potential, as well as increasing the level of employment of the population, the legislation of Turkmenistan may establish other benefits for foreign investors and enterprises with foreign investments.

BT Legal Affairs Department