Frequently Asked Questions
The President, Commander in Chief of the Armed Forces of the Federal Republic of Nigeria designated SIIFZ as a Free Zone on the 25th of January, 2005 in line with Section 1 of NEPZA Act of 1992.
No, SIIFZ is an economic development area and foremost marine and industrial free zone that is focused on attracting investors and operators in logistics, shipping and manufacturing industries in accordance with the enabling Act.
The benefits of investing in a free zone are:
- On-site custom processing
- Foreign ownership of Business
- Expatriate Quota Exemption
- Import and Export license Exemption
Investing in SIIFZ offers benefits, including:
- Ease of doing business with investor-oriented policies and a variety of investment opportunities
- Easy, fast and reliable business set-up and entity registration
- Strategic location which provides easy access for transportation of cargo
- Direct Delivery Shipping Call Port with seaport infrastructure to handle import and export to the zone with access to NICIS II platform and full compliments of government
The process is as follows:
- Prospective FZE completes and submits a questionnaire after the initial discussion of the intention to set up an FZE in SIIFZ.
- Upon satisfactory review of the questionnaire, SIMCO issues the Application Pack with the checklists of all required documents to the applicant. This is accompanied with the invoice for the one-off, non-refundable application and registration fee payable upon the submission of the completed application form and other required documents.
- Applicant completes the application pack including all NEPZA forms and submits the same with the required documents to SIMCO.