SEZ DEVELOPER

[SNEHAL SHAH]

Sir,

 

What is the difference between SEZ UNIT & SEZ Devloper & is there is any rules regulation different SEZ & SEZ developer .

 

pl. guide

SACHIN

[Snehal Kulkarni]

 

 

 

SEZ units are the units set up for the manufacture of goods or rendering of services.

SEZ Developer means a person who, or a State Government which, has been granted by the Central Government a letter of approval under sub-section (10) of section 3 and includes an Authority and a Co-Developer

The Developer or Co-Developer shall have at least twenty-six percent of the equity in the entity proposing to create business, residential or recreational facilities in a Special Economic Zone in case such development is proposed to be carried out through a separate entity or a special purpose vehicle being a company formed and registered under the Companies Act, 1956 (1 of 1956).

 

Please refer :

 

1.    THE SPECIAL ECONOMIC ZONES ACT, 2005

2.    Special Economic Zones Rules, 2006

 



AI Summary

SEZ Developer definition requires approval and an equity stake in a special purpose vehicle to undertake development. A SEZ Unit is an enterprise set up for manufacture or services within a Special Economic Zone. A SEZ Developer, including an Authority or Co-Developer, is a person or State Government granted a letter of approval under section 3(10); where development is through a separate entity or special purpose vehicle, the Developer or Co-Developer must hold at least twenty-six percent equity. The governing framework is the Special Economic Zones Act, 2005 and the Special Economic Zones Rules, 2006.