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Jafza Reports Company Formation Up 21 Percent In H1 2014

by Lorys Charalambous, Lowtax.net, Cyprus
24 September, 2014

363 companies chose to set up in Dubai's Jebel Ali Free Zone during the first six months of this year, an increase of 21 percent year-on-year.

More than 50 percent of the companies who began business in the zone have operations in the Asia Pacific region, mainly in India and China. 10 percent have operations in the Americas and the UK.

The free zone has been undertaking a number of promotional visits to key economies to promote the zone. It recently conducted a five-day roadshow in China, where it said it had garnered interest from an "overwhelming" number of firms.

Jafza was established in 1985. It offers a number of tax incentives 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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