ABU DHABI, Abu Dhabi Airports Free Zone, ADAFZ, today announced leading international logistics firm Gulf Agency Company, GAC, Abu Dhabi as the latest addition to its cargo terminal free zone site.
As a result of its free zone status, GAC Abu Dhabi is set to enhance its customer experience, allowing cargo to be transferred to any other free zones in the UAE without having to pay customs duty.
The move to the ADAFZ free zone also brings new benefits of 100 percent foreign ownership and 0 percent corporate or personal income tax. Registered free zone companies pay no import or re-export duties, have no restrictions on capital repatriation and no currency restrictions, as well as being eligible for a full range of business activities licenses.
Also licensed companies that operate from ADAFZ are eligible for a dual license that enables them to operate from outside of the free zone. As a result of these benefits, companies form the logistics sector that are now operational at ADAFZ have increased by 50% in comparison to 2017.
Adel Al Taheri, Acting General Manager of ADAFZ, said; "Abu Dhabi Airports Free Zone is at the heart of diverse economic activity in the emirate of Abu Dhabi, with unrivalled services and facilities for logistics firms and many other vital industries that provide access to global markets. We are pleased to welcome GAC to ADAFZ, and are confident that its customer base will see the benefits."
In turn, Goran Eriksson, Managing Director of GAC Abu Dhabi, said, "We are in business to help our customers achieve their strategic goals. We have been doing that by meeting their speed-to-market targets with our presence and 24/7 services at the airport since 1994. Now, we have now gone a step further by registering our free zone branch to help our customers further reduce costs."
A total of 224 companies from 41 countries are registered with ADAFZ, reflecting its position as a destination of choice for global businesses.
Source: Emirates News Agency