JEBEL ALI FREE TRADE ZONE
Setting
Up Business in Jebel Ali
Free Zone , Dubai, in the United Arab
Emirates has the
distinctive advantage of being in the Gateway
between the East
and the
West. Ideally
placed almost on midway between the Far East and the
West, along
with the Arab tradition of being
reputed traders, the emirate is better known
as the ‘ City of Merchants”.
The
Jebel Ali Free
Zone ( JAFZ) was
established in 1985 with the sole purpose of
attracting investments.
The Government has used its vision and
sagacity in spending generously for the development
of infra – structural facilities in JAFZ.
Besides providing various incentives
to prospective investors , the rules for
setting up business in JAFZ have been made extremely
simple.
The
response from businessmen
around the world has been
Overwhelming.
Jebel Ali Free Zone is one
of the best of its kind in the world.
With the rich government to back
up with all its resources, Jebel Ali Free
Zone Authority ( JAFZA) rolls a red carpet
to any business that shall contribute
positively to the local economic growth.
The JAFZA is interested in
manufacturing units
for Value added products or those who engage
in large volume cargo movements for re-exports.
For this they offer several incentives to
investors.
Incentives:
ü
100% Foreign ownership is permitted .
In the non-free zone areas, a maximum of 49%
ownership only is possible.
ü
No
restrictions on recruitments of work force.
The recruitment shall be at the discretion of
the business house.
ü
No
restrictions on repatriation of
capital and profits .
ü
No
currency regulations.
Local currency is freely convertible.
ü
Corporate
Tax exemption
for the first 15 years with option to renew
for another 15.
ü
Exemption
from import duty
for raw materials and machinery
components for manufacturing process.
ü
No
personal income tax.
ü
Excellent
support services;
Good road linkage- all Major markets
in Middle
East are with in
24 Hrs drive ; All Major ports with in 48 Hrs
by sea; over
125 major
container shipping lines call on Dubai, including
feeder vessels to Iran, Africa and the Indian
sub-continent;
A modern International Airport at 30 Minutes
drive.
ü
Fastest
Cargo service – Sea to Air transfers; Container
Handling facility.
ü
Factory
Buildings; Warehouses;
Offices; Workers’ accommodation;
pre-built and cost effective facilities are
available.
ü
Modern
Banking services
at attractive costs from over 40
International banks.
ü
Excellent,
modern communication facilities – efficient
local and global telecommunication.
ü
Very
good working environment ; the least crime rates
reported. There
is no labor strikes or unrest.
ü
Availability
of cheap energy in abundance.
ü
To
cap all these -
Dedicated administrative support from
the Free Zone Authority and Dubai Port
Authority ( DPA) especially in Administration, Visa
controls, Health
care and Safety areas.
In
order to help investors with their plans to put up
large business ventures or for the
expansion of existing set ups, JAFZA stopped
renewing the licenses of dormant business ventures
which have been inactive for prolonged periods.
Till
1996, In over 10 years, JAFZ had attracted a total
investment of over $ 1.6 billion and hosted
930 companies from 72 countries
Sultan
bin Sulayem, Chairman and Managing Director, JAFZ,
and Dubai Free Ports Authorities, DPA, said in a
press release on 26 May,1996. "We are pleased
to see the remarkable growth of business volume
through the JAFZ, which is due to the directive of
General Sheikh Mohammed bin Rashid al Maktoum, Crown
Prince of Dubai and the UAE Defense Minister, that
we offer the maximum facilities to companies located
in the zone and to DPA clients,"
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