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Jafza Home To 10 Percent More Indian Firms

by Lorys Charalambous, Tax-News.com, Cyprus

23 December 2015

The number of Indian companies operating in Dubai's Jebel Ali Free Zone (Jafza) increased by 10 percent in 2014.

The free zone recently conducted a four-day roadshow in Mumbai, India, to attract investment from more Indian multinational corporations.

Ahmed Bin Sulayem, Chairman of DP World and Ports, Customs, and Free Zone Corporation, pointed out that India is the largest trading partner of the United Arab Emirates (UAE). He also noted that Jafza is home to more than 800 of India's top multinationals.

He said that an estimated USD4 trillion is being invested in developing economic infrastructure suitable for nurturing non-oil business activities. He added that Expo 2020 will provide a further boost to infrastructure-related activities in Dubai.

Jafza offers a number of benefits to companies established in the zone, including: zero percent corporate tax guaranteed for 50 years, zero percent import and re-export duties, zero percent personal income tax, and no restrictions on the repatriation of capital and profits. 100 percent foreign ownership is permitted.

The free zone said that Jafza-India non-oil trade has tripled in the last ten years to reach almost USD4bn in 2014.

TAGS: United Arab Emirates | tax | investment | business | India | tax incentives | export duty | corporation tax | multinationals | tax breaks | import duty | trade | individual income tax | Dubai | free trade zone | Middle East

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