The Premium Investor Certificate, issued by the Economic Development Board (EDB) allows companies investing at least Rs 500 million, and companies involved in the manufacture of pharmaceuticals and medical devices, to benefit from bespoke incentives, upon recommendation of a Technical Committee and approval by the Minister. The objectives of the scheme are to promote the emergence of pioneering industries, innovative sectors and first movers.
The Premium Investor Scheme is set up under sections 2, 14A and the Second Schedule of the Act and is administered and managed by the Economic Development Board (EDB) under section 5(1)(k) of the Act.
Project shall be considered under the Premium Investor Scheme if it:
1. relates to the manufacture of:
i. pharmaceuticals or
ii. medical devices; or
2. involves a minimum investment of 500 million rupees in:
i. emerging sectors,
ii. pioneering industries and first movers,
iii. innovative technologies and industries.
Incentives are negotiable with the EDB, assessed by a Technical and approved by the Minister of Finance and may include:
1. rebates, exemptions and preferential rates, in relation to taxes, duties, fees, charges and levies under any enactment;
2. facilities, grants and exemptions in relation to:
i. land and buildings,
ii. infrastructure and public facilities,
iii. utilities; and
iv. labour requirements, including foreign labour
|Milestones Limited||Setting up of a Family Entertainment Centre and Car Museum at Beaux Songes|
|EMTEL Technopolis Ltd||Development of an integrated technology park at Union Vale|