REQUIREMENTS TO BECOME PART OF THE ZEDE REGIME

Article 39 of the Enabling Law of the ZEDE’s gives CAMP the authority to incorporate projects into the ZEDE regime. The requirements are the following ones:
1)An opinion issued by the National Statistics Institute on what is considered a low density coastal area. The opinion states that a low density area is any place with less than 35 persons living in a 1 km2
2)Other requirements issued by CAMP on what it will review to grant authorization. Those requirements consist of:
1. Presentation of a feasibility study;
2. Evidence of financial capacity; and,
3. A master development plan.
Aside from these two elements the enabling law requires that the group interested in creating a ZEDE has to own the land that it’s going to develop. The owner of the land has to appear before a notary stating that it has the intention to enter the ZEDE regime. If CAMP decides to incorporate the project into the ZEDE regime, that deed is registered in a special registry of land under ZEDE regime that CAMP has to create.
The acceptance and review process of request to incorporate to the ZEDE regime will begin on May 3rd, 2016. It will be done by an ad-hoc committee integrated by members of CAMP that don’t reside in Honduras. The review process will be finalized within the next 30 days after the reception of a complete proposal.
The ad-hoc committee has the authority to ask for clarifications on the proposals presented before them and establish yearly fees for the services CAMP will provide to that ZEDE during the life of the project.
The projects incorporated to the regime have to begin within a year of their registration. A six month extension can be granted.
After a project is incorporated into the ZEDE regime, the developer of the project have to propose a Technical Secretary who would be appointed by CAMP.