Fiscal benefits
Economic growth was achieved thanks to the creation of many free zones set up in order to facilitate foreign investments. There are more than 40 free zones. Some "generalists" that allow the carrying out of any economic activity and others "specialist". Each free zone has its own rules but there are general advantages. The incentives are:
- 100% of the ownership of the business by the foreign investor
- No restrictions on the transfer of profits or repatriation of capital
- Exemption from import and export duties
- Simple and efficient personnel recruitment procedures
- Flexible banking system
- No tax on personal income or capital gains
- Administrative support from the free zone authorities
- No obligation to keep accounting records