4 BUSINESS PARKS The Southern Province has a number of business parks, mainly industrial, commercial and craft. They are designed, managed and developed to accommodate all types of business. In order to stimulate the economy of certain geographical areas, the New Caledonian government introduced a system of Free Trade Zones at the end of 2019. These zones meet criteria of population density, employment rate and maximum tax revenue, as well as a lack of sea or air access. Each Province identifies and proposes to the Government geographical areas that meet these criteria, so that companies setting up there can benefit from exemptions from income tax (3 years then degressive), property tax, business tax (3 years) and employers' contributions. Eligible companies must be start-ups and at least 50% owned by natural persons. They may operate in the industrial, tourism, commercial, digital, craft or agricultural sectors. There are also a wide range of business accommodation options, from renting or buying offices to co-working spaces offering hourly or subscription rates and shared facilities (reception, photocopying, relaxation area, cafeteria, meeting rooms, gym, rooftop, etc.). Finally, many sites offer solutions for organising events and other conferences and seminars, from room hire to cocktail parties and other à la carte services. 42
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