Logistics company GAC Abu Dhabi is the latest addition to the terminal free zone site at the Abu Dhabi Airports Free Zone (ADAFZ) becoming the 223th business to do so.
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 per cent foreign ownership and no 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.
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 per cent in comparison to 2017, the airport said.
ADAFZ acting general manager, Adel Al Taheri 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.”
A total of 224 companies from 41 countries are registered with ADAFZ, reflecting its position as a destination of choice for global businesses.
GAC Abu Dhabi managing director, Göran Eriksson 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.”
ADAFZ is a subsidiary of Abu Dhabi Airports that operates from Abu Dhabi International Airport, Al Bateen Executive Airport and Al Ain International Airport. It offers fully serviced office solutions, aircraft hangars, retail spaces, and comprehensive warehousing to a range of commercial sectors.