FREE ZONE FORMULA OR FRENZY?

Many a port, both in the Middle East and elsewhere, seeks to emulate the success of Dubais Jebel Ali Free Zone. Already a base for 2,800 companies from more than 100 countries, the Free Zone and Dubai Ports Authority (DPA) are inextricably linked. The Free Zone is built around the DPAs Jebel Ali terminal offering specialized unloading facilities and purpose-built storage and allows 100% foreign ownership of companies, as well as full repatriation of capital and profits. In addition there is no corporate and income taxes and no currency restrictions.