Jafza Attracts Interest From Japanese Companies
by Lorys Charalambous, Lowtax.net, Cyprus
12 February, 2015
A delegation of 40 Japanese business leaders recently visited the Jebel Ali Free Zone (Jafza) in the United Arab Emirates to explore opportunities to use the free zone as a tax-efficient location from which to access the food and beverage markets in the Middle East.
Receiving the delegation, Adil Al Zarooni, Senior Vice President – Jafza sales, said: "Japan remains one of Jafza's key trade partners. The bilateral trade between the two sides crossed USD2.7bn in 2013, making Japan Jafza's sixth-largest partner by total bilateral trade and the third largest by imports."
"Jafza is working with several Japanese trade promotion bodies and other institutions to further strengthen Japanese presence in the region by attracting more Japanese companies from diverse sectors, including food and beverage and related segments, into the free zone," he added.
Jafza is currently home to more than 145 leading Japanese multinationals such as Sony, Panasonic, Toshiba, Hitachi, Nissan, Honda, Mitsubishi, Isuzu, Denso, Kawasho Foods (Gulf) FZE, and Carpe Diem Middle East FZE.
The free zone offers a number of benefits to companies established in the zone, including 100 percent foreign ownership, 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.
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