Page 138 - Caribbean-Central America Profile 2018

SURINAME

CARIBBEAN-CENTRAL AMERICA PROFILE 2018

Official Name: Republic of Suriname
Capital: Paramaribo
Nationality: Surinamer(s)
Official Language: Dutch
Population Total (millions): 0.56 (2016 est.)
Size: 63,251 square miles
Currency: Suriname Dollar (SRD)
SURINAME
Internet Domain: .sr
International Dialling Code: +597
Electricity: 127 / 230 volts / 60 cycles

COUNTRY OVERVIEW INVESTMENT INCENTIVES
The Government of Suriname has identified Foreign Direct Investment (FDI) as the primary vehicle
q The untapped natural beauty of for future economic development. In addition, the government identifies international partnerships as a
Suriname gives it great promise,
especially with its extensive rain particularly important means to help develop the economy. This includes both bilateral and multilateral
forests, which represents some partners, as well as private foreign investors. The Government of Suriname focuses on developing the
80% of the country. mining, tourism, forestry, and agriculture sectors.
q Suriname lies on the northeast
coast of South America, with INVESTMENT POLICY
Guyana to the west, French The investment Law of 2001, the Mining Decree and the Raw material Act provide investment
Guiana to the east, and Brazil to facilities, such as:
the south. • Amortization if the value of the investment is at least US$ 5,000.
q There are colonial wooden • Deduction of the fictitious interest: if capital investments have been financed by the investors
structures that date back to own and these represent a value of at least US $ 100,000. This deduction cannot be granted in
the 17th Century in the capital combination with the facility in the first bullet point.
Paramaribo.
• Investment tax deduction of 20 percent in case of an investment of at least US$ 20,000.
Suriname is an upper middle income • Tax consolidation: reduction of the tax liability of a parent company by losses incurred by a fully
country with a strong performing
economy. It is the smallest country owned subsidiary. This incentive is granted for a period of five years.
in South America but rich in natural • Income tax exemption can only be granted for substantial investments based on invested capital,
resources and biodiversity. The job creation and the degree of foreign currency generating capacity. This facility can only be
economy is reliant on a few sectors for granted in conjunction with the exemption of import duties on business assets. The exemption
growth and development, extractive expires in case total profits exceed twice the amount of the invested capital in business assets. This
industries being the largest: alumina, facility is granted for 10 years.
gold and oil represent more than 80
percent of total exports and 30 percent • Exemption from payment of customs duties, turnover and statistical taxes with respect to the
of GDP. Other export products include import of capital goods worth at least US$ 10,000 or of goods worth at least US$ 5,000 which are
bananas, rice, and lumber. About used in the production of capital goods.
a quarter of the people work in the
agricultural sector. The Surinamese INVESTMENT AND DEVELOPMENT CORPORATION SURINAME
economy is very dependent on The Investment and Development Corporation Suriname is a government initiative administered by
commerce, its main trade partners the Cabinet of the President. It supports and encourages business development through foreign and
being the Netherlands, the United local investment in a number of different sectors.
States, Canada and Caribbean
countries. Investment and Development Corporation Suriname N.V.
hk brokopondolaan 97
Paramaribo, Suriname
Tel: (+597) 493186 / 494374
Fax: (+597) 494387
Email: info@idcs.sr

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