Array
(
[121] => Our Assets
[114] => The Legal Framework
)
The Legal Framework
An Attractive Legal and Regulatory Framework The legal framework and regulatory environment for the free trade zone is one of the best in the world: - 0 % customs fee on import and export
- 0% of income taxes during the first 5 years
- 1% of income taxes on the turnover starting year 6 with the possibility of tax reduction up to 50%
- 0% of VAT on electricity, water and oil products consumption.
- Right to freely transfer funds in and out of the country, including unlimited profit repatriation and invested capital re-exportation.
- Assets or activities of the Free Zone establishments not subject to nationalization or any measures restricting private ownership, throughout the period of their activities in the Free Zone.
- Long term visa and work permit for foreigners and their families. No limit on local and foreign investments, etc
- The enterprise in charge of the management of the Park has the right to process main public transactions on the site on behalf of the Government, through a Single window clearance approach, for fast processing of administrative transactions (license, import, export..)
- Etc.