Global logistics firm hopes to reduce operating costs
Abu Dhabi Airports Free Zone (ADAFZ) recently announced that leading international logistics firm GAC Abu Dhabi is 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% foreign ownership and 0% corporate or personal income tax. In addition, 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.
In addition, 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.
A total of 224 companies from 41 countries are currently registered with ADAFZ, reflecting its position as a destination of choice for global businesses.
“Abu Dhabi Airports Free Zone is at the heart of diverse economic activity in the emirate of Abu Dhabi and are pleased to welcome GAC to ADAFZ,” remarked Adel Al Taheri, Acting General Manager of Abu Dhabi Airports Free Zone (ADAFZ).
“We are in business to help our customers achieve their strategic goals. Now, we have now gone a step further by registering our free zone branch to help our customers further reduce costs,” noted Göran Eriksson, Managing Director of GAC Abu Dhabi.
