Incentives
SEZAD provides investors with an integrated package of incentives and facilities that have been tailor-made to meet the needs of major investors. Before designing such incentives, detailed study has been made on the similar economic zones to ensure that the incentives provided by us fit the purpose for which the Area was established.
The incentives include:
- Tax -exemption for 30 years from the date of starting business and for 30 years renewable. This exemption does not apply on banks, financial institutions; insurance and reinsurance companies, telecommunication services providers and land transport companies – unless they are registered with SEZAD and do their business continuously within the boundaries of the area.
- Up to 100% foreign ownership
- Exemption from minimum capital requirement stipulated in the commercial companies law and other laws.
- No currency restrictions.
- Exemption of Commercial Agency Law provisions.
- Free repatriation of profits & capital
- Usufruct agreements up to 50 years renewable for similar periods.
- Freedom to import all kinds of goods (except the legally banned imports) without prior approval or permit unless classified as explosives or chemical products. To import such products, investors should abide by the laws and regulations in force.
- The imported goods are not subject to any restrictions related to the retention period in the Zone, unless otherwise specified by SEZAD Board of Directors. Investors are also free to transport these goods within or within any other free zone inside the Sultanate.
- The finished or assembled products in the area are treated as locally produced products.
- The enterprises have the right to open representation office inside the custom jurisdiction subject that they are registered in accordance with the laws and regulations in-force in the Sultanate.
- The one-stop station provides all necessary services for the enterprises. Through this window, investors can obtain all the required permits, licenses, approvals and visas as well as registration of enterprises and implementing all rules and regulations related to the area and decisions taken by the SEZAD.
- Speedy and efficient processing of expatriate manpower applications. The process shall not take more than five working days from the date of submitting the application.
- Visas for expatriates and their families' members will be issued by the Passport and Residence Department that is being set up in the area.
- The custom system is modernised to ensure speedy processing of goods and transactions. The Department, which uses transparent and clear valuation methodologies, processes the transactions and releases the goods in a very quick and speedy manner while maintaining control of the efficiency. The samples are also fully checked and reported at the same site.
To benefit from these incentives, facilities and exemptions, the enterprises shall be registered at the Zone as per the rules and regulations in force. It should have a license to practice its businesses as per the systems in force within the boundaries of the Zone. It is also required to maintain the Omanization rate stipulated by SEZAD Board.
