SHARJAH AIRPORT INTERNATIONAL FREE ZONE [SAIF] |
Introduction
Sharjah is the industrial heartland of the UAE, accounting for more then 40% of the country's industrial GDP. Its geographic location has led to a unique integration of land, sea and air links. This in turn offers unbeatable logistical, warehousing and distribution advantages. The only emirate with seaports on the Arabian Gulf and the Indian Ocean, Sharjah has carved a niche in the sea-air traffic sector, experiencing growth rates of more than 50% in the last few years.
Sharjah Airport International Free Zone (SAIF-Zone) and the Airport have been instrumental in helping Sharjah's economy scale new peaks. SAIF-Zone is the fastest growing airport free zone in the region, while the international airport has gained an enviable reputation as a leading cargo hub.
Speed, reliability and cost-effectiveness have been the cornerstones of Sharjah's industrial policy. A stable government, proactive policies, solid industrial base and an attractive incentives package have drawn a very high proportion of foreign investments into Sharjah in recent years.
SAIF-Zone offers its patrons extremely attractive incentives. Geographically well positioned with excellent land, sea and air links to the rest of the world, SAIF-Zone is a dream come true for the businessman. Modern premises, equipped with the latest facilities and a secure environment ensures maximum returns for the investor.
- Access to over 2 billion consumers
- Strategic location between east and west
- Abundant and inexpensive energy
- Competitive fee structure, property & management leases
- 24-hour hotline for equipment and provision of labour
- Unlimited work force with an economical wage structure
- Sponsorship & visas for all staff
- Highly qualified bilingual staff
- Access to ports in the Arabian Gulf & Indian Ocean
- International air links across the world via Sharjah International Airport
- Back-up services include those provided by the Sharjah Chamber of Commerce and Industry, Sharjah Expo Center and over 40 international banks.
Speed, reliability and cost-effectiveness have been the cornerstone of Sharjah's industrial policy. A stable government, proactive policies, solid industrial base and an attractive incentives package have drawn a very high proportion of foreign investments into Sharjah in recent years.
Tax Incentives
An oppressive and restrictive tax regime is the most effective way to kill business and initiative. A lenient and customer oriented tax structure makes the SAIF-Zone an attractive business proposition.
- 100% exemption from corporate and personal income taxes, for the company, the Investor and their employees.
Trade Incentives
In order to maintain flourishing trade in a competitive business environment, SAIF-Zone offers excellent trade incentives. This is evident from the fact that the number of companies has gone up from just 55 in 1995 to more than 1800 in June 2005.
- 100% foreign ownership
- 100% repatriation of capital and profits
- 100% free transfer of funds
- 100% exemption of import and export duties
- 25 years lease extended to similar period
What makes the SAIF-Zone attractive and distinctive to investors is that they are offered a variety of choices as far as facilities provided by the zone is concerned, which vary from customized offices and suites to lease able land, warehouses in different sizes and temporary storage areas. The zone has something for everyone.
List Of Licenses Issued
Investors can avail different types of licenses in order to do business in the SAIF-Zone.
- Industrial License - Allows the investor to import raw material, manufacture, process, assemble, package and export the finished product. (Subject to clearance from SAIF-Zone Health & Environment Dept.)
- Commercial License - Allows the investor to import, export, distribute, consolidate and store items specified in the license. There is a maximum limit of three similar product lines. Four categories of commercial licenses are being issued :-
- Specific
- Oil & Gas
- Real Estate
- Aviation
- General Trading License - As the name suggests, a large number of products fall within its ambit. This type of license can be obtained under the commercial license.
- Service License - Allows the investor to carry out only specified services. (Unless restricted by the federal or local authorities, all types of services are allowed within the SAIF-Zone). Five categories of Service licenses are being issued :-
- Specific
- Oil & Gas
- Freight Forwarding
- Real Estate
- Aviation
Type of ownership
- Free-zone Establishment (FZE) - enjoys a separate legal entity and is owned (100%) by either a person or a corporate body. The liability of the owner is limited to the amount of the share capital.
- Free-zone Company (FZC) - The number of shareholders can be 2 to 5 either individuals or corporate entities. The liabilities of the shareholders are limited to the amount of share capital of each shareholder.
- Branch of Foreign Company.
