Hamriyah Free Trade Zone in the News
Hamriyah Free Trade Zone (FTZ) is located in the city of Sharjah in the United Arab Emirates. Hamriyah FTZ hit the news this month when Lamprell Energy Limited, a giant fabrication and engineering company for the energy industry acquired a further 114,280 square meters in the free zone space.
Lamprell have been in Hamriyah since 2007 and this additional space will be used to build a new fabrication plant, for optimization of the company’s current plant and services. The focus will be on automation to reduce manhours, improved efficiency and safety.
This is a major deal for the Hamriyah zone and the Hamriyah Free Zone Authority (HFZA) Chairman Sheikh Khaled bin Abdullah bin Sultan Al-Qasimi was delighted to comment “We remain committed to giving our valued customers the best possible infrastructure to help support their growth aspirations,” after the lease agreement with Lamprell was signed off.
It is no surprise that Lamprell have chosen to expand their operations in Hamriyah. Hamriyah Free Trade Zone offers a number of advantages to companies looking to set up or expand manufacturing operations in this region of the world.
Hamriyah FTZ is 24 square km in size with a 14 meter deep port and a 7 meter deep inner harbor.
Advantages and unique attractions to company formation in Hamriyah FTZ
- 0% Corporation and Personnel Tax
- 0% import and Export Tax
- 100% foreign company ownership is allowed and all profits and capital can be repatriated without difficulty.
- Hamriyah FTZ is divided into 7 specialized sub section freezones namely: Oil & Gas Zone, Steel City, Petrochemical Zone, Timber Land, Construction World, Perfume Land, Maritime City. Each of these zones have purpose built office and warehousing space along with specialized e-office packages. A new industrial zone is also in the pipeline and will be built directly across from Hamriyah Port. According to the Hamriyah Free Zone Authority, “The new area will be built opposite the gates to the Hamriyah Port area, which is situated around 20kms north of Sharjah city centre, on the road to Ras Al Khaimah. It will be serviced by the new $100m interchange which was recently opened. The Free Zone covers 220 hectares and includes 80km of internal roads. The new zone is designed to cater for a wider network of businesses in the Free Zone, and will help reduce investment required by small businesses to establish facilities.”
- Lease agreements of up to 25 years are available with option to renew for another 25 years. This is a major advantage when getting good prices for office and warehouse facilities leasing agreements.
For more advantages and detail visit the Hamriyah Free Zone Authority website.
Healy Consultants Group PLC has been assisting with company incorporation and set-up in Hamriyah and in other UAE countries for 10+ years. Do contact our in-house experts at email@example.com for advice on optimal company structure and for tax efficient setup.
Company Incorporation In Hamriyah: http://www.healyconsultants.com/hamriyah-free-zone/
Lamprell to expand its operations from Hamriyah Free Zone: http://www.arabnews.com/corporate-news/news/870726
Hamriyah business incentives: http://www.hfza.ae/en-us/abouthfz/businessincentives.aspx