Development Fund of Port Activities (FUNDAP)

FUNDAP is a funding that supports companies based in Espírito Santo and carries out foreign trade transactions taxed with ICMS (VAT) in the state. Industrial companies headquartered in Espírito Santo and that use the imported input can also qualify for FUNDAP funding.

There are some basic conditions for a company operating in FUNDAP:
- The operations must be performed by companies that are headquartered in Espírito Santo;
- The collection of Fundap ICMS should be made to the State of Espírito Santo;
- Customs clearance needs to be carried out in the state of Espírito Santo.

Fundap companies must invest the collateral value, i.e. at least 9% of funded projects that will generate development, income and employment in Espírito Santo.