North based investors invited to invest in SAIF-Zone
Chandigarh: Sharjah Airport International Free Zone (SAIF-Zone) Authority Friday invited investors from north to set up projects as it offers hosts of incentives including 100 percent repatriation of capital, profits and tax exemption on income.
Humaid AlKhatri, Commercial Director, SAIF Zone Authority said, "Over 5,500 companies from 132 countries that are operating out of it of which 40 percent are of Indian origin carrying out varied business activities like light to medium manufacturing, trading and providing services such as IT, consultancy, etc."
He was speaking at a session on 'Opportunity of Doing Business in SAIF Zone' at CII here Friday.
Set-up in 1995, SAIF-Zone is a premier business destination situated in the Emirate of Sharjah with a modern infrastructure and an emphasis on cost effectiveness, he said.
He also called for pursuing the bilateral agenda at the government as well as private sector level, aimed at boosting economic growth and job creation for both the nations.
Raed Bukhatir, Head of Sales ? SAIF Zone Authority shared, "UAE is free from bureaucratic red tapism, which allows the registration process and licenses to be issued within 24 hours."
The other benefits the investor enjoy are 100 percent foreign ownership, 100 percent repatriation of capital and profits, 100 percent exemption from income and corporate taxes, on site labour accommodation, access to over 2 billion consumers, he added.
Sharjah and its business community benefit by being the only emirate in the UAE with seaports on both the Arabian Gulf and Indian Ocean.