Dubai Airport Free Zone Woos Spanish Companies
by Lorys Charalambous, Lowtax.net, Cyprus
20 November, 2013
Representatives of Dubai Airport Free Zone (DAFZ) hosted three seminars in Madrid and Barcelona to emphasize the benefits of investing in Dubai and the United Arab Emirates (UAE) as a whole, as a springboard to new markets. The event was attended by over 250 Spanish companies.
DAFZ offers a number of tax incentives to businesses, including 100 percent exemption from corporate tax and import and export tax, 100 percent foreign company ownership, and 100 percent repatriation of capital and profits. The free zone also gives companies better access to the Middle East and North Africa region.
Jamal Bin Marghoob, Director of DAFZ's Marketing & Corporate Communications Department, said that DAFZ wants to add to the number of Spain-headquartered companies which already have business in the free zone.
Bilateral trade between the UAE and Spain climbed 75 percent in three years to AED8.6bn (USD2.3bn) in 2012, according to data from the UAE Ministry of the Economy.
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