Vivo Bio Tech has obtained permission from the Govt. of India for developing Biotech Sector Specific 'Special Economic Zone' at its site (39 acres) in Pregnapur, Gajwel Mandal, Medak District, Andhra Pradesh.
The Vivo Bio Tech SEZ is located adjacent to Karimnagar highway road (approx 16 km from ICICI Knowledge Park and SP Biotech Park). The site is approximately 53km from Secunderabad Railway Station and around 90km from the new airport (Shamshabad).
Business Venture Zone
Spread over 39 acres of land, Vivo Bio Tech SEZ will provide modern, Grade-A quality business space when completed. The Business Venture Zone consists of customized plots available to companies / entrepreneurs wishing to set up units.
- The incentives offered to the units in SEZs by Govt. of India include:
- 100% income tax exemption for a block of five years and an additional 50% tax exemption for two blocks of five years thereafter.
- External commercial borrowings by SEZ units up to US$500 million in a year without any maturity restrictions through recognized banking channels.
- Facility to retain 100% foreign exchange receipts in Exchange Earners' Foreign Currency Account.
- 100% FDI permitted to SEZ franchisee in providing basic telephone services in SEZs.
- No cap on foreign investment for small scale sector reserved items.
- Exemption from industrial licensing requirements for items reserved for the SSI sector.v
- No import license requirements
- Exemption from customs duties on import of capital goods, raw materials, consumables, spares etc
- Exemption from Central Excise duties on procurement of capital goods, raw materials, consumable spares etc., from the domestic market.v
- No routine examinations by Customs for export and import cargo.
- Facility to realize and repatriate export proceeds within 12 months.
- Profits allowed to be repatriated without any dividend-balancing requirement.
- Job work on behalf of domestic exporters for direct export allowed.
- Subcontracting both domestic and international is permitted
- Exemption from Central Sales Tax and Service Tax
- Procedural ease and efficiency for speedy approvals, clearances and customs procedures and dispute resolution
- Simplification of procedures and self-certification in the labor acts.
- Exemption from VAT on domestic sourcing of capital goods for project development.
- No foreign ownership restrictions in developing zone infrastructure and no restrictions on repatriation.
- Has host of Public and Private Bank chains to offer financial assistance for business houses.
- Benefits of SEZ are 100% EOY
- Exercise duty & sales tax exemption for building materials/infrastructure
- Round the clock customs staff availability
- All documentation for various departments is self certification only
- SEZ as a brand concept in the corporate world
- All local taxes including stamp duty exempted
- SEZ act to have overriding effect over all laws/acts prevailing in India
- Exemption of capital gains on transfer of assets in case of shifting of industrial undertaking from urban area to SEZ (Section 54GA of IT act)
If you’re interested in setting up your facility in our biotech specific SEZ,please contact