Surge In Interest For Dubai Airport Freezone
by Lorys Charalambous, Lowtax.net, Cyprus
15 March, 2016
There was a 22 percent increase in the number of companies registered in the Dubai Airport Freezone (DAFZ) in 2015, according to new figures from the DAFZ Authority.
The Authority announced on March 13, 2016, that total revenues for firms in the tax-free zone increased by seven percent in 2015, and total assets were up three percent.
Middle Eastern companies accounted for 40 percent of all companies registered in DAFZA last year. Meanwhile, companies from the US and Europe accounted for 36 percent of all registered companies, followed by Asian companies (18 percent), and companies from the rest of the world (six percent).
Leasable office spaces across the zone increased by 11 percent year-on-year in 2015, DAFZA said.
DAFZA offers a number of tax incentives to businesses, including 100 percent exemption from corporate tax and import and export tax, and allows 100 percent foreign ownership.
See all of today's news