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10. INCENTIVES AND SPECIAL REGIMES

Investment incentives in the form of pioneer status, import duty concessions, and tax relief are offered to companies investing in Kiribati. Foreign investment in any business activities is encouraged, except in prohibited and reserved sectors. Foreign investment is permissible in sectors such as fishery, agriculture, information and communication technology, tourism, transportation, financial services, banking and insurance, which is eligible for incentives, subject to certain conditions.

Companies carrying on certain specified types of business activities in Kiribati can apply and can be granted 'Pioneer Company' status by the appropriate authority. Pioneer companies are eligible for a concessional corporate tax rate of 10% for a period of 5 years (10 years in case of mining companies) from the date of commencement of production.