SOHAR FREEZONE INCENTIVES PROVIDE IDEAL ENVIRONMENT FOR LONG-TERM BUSINESS GROWTH
SOHAR, Oman, April 12, 2023 /PRNewswire/ — Continuing to drive growth for new and expanding local and international businesses, SOHAR Freezone has extended its competitive rates on General Trade License (GTL), allowing businesses from around to base themselves within the complex at a reduced rate for up to three years. Companies can save up to 50% on the regular rates and begin trading immediately by using SOHAR’s electronic portal to secure all required permits through the on-site one-stop. SOHAR Freezone is targeting further growth in 2023 and has extended its competitive rates for new and renewing tenants to encourage trading in an already rapidly expanding SOHAR Port and Freezone.
Businesses seeking to relocate can also access a complete working solution through Corporate Parks, SOHAR’s commercial office partner, which offers a reduction of between 15% and 40% in office rental rates for up to three years to help their operations thrive.
Investors can also enjoy 0% personal income tax, 0% import and re-export duties and a corporate tax holiday of up to 25 years, with no minimum capital requirement. Meanwhile, the partnership with Corporate Parks offers businesses access to meeting room space with high-speed internet and utilities included for one competitive annual fee.
The success stories emerging from SOHAR Freezone have highlighted its unique value as a rapidly growing business hub. Companies from diverse sectors such as automotive and metals, polymers and chemicals have all benefitted from our strategic position and access to raw materials. The logistical and financial incentives, such as exceptional transport links to key markets and low rates, provide an ideal trade gateway to neighbouring countries and beyond for companies looking to establish a presence in the region and enjoy a multitude of benefits within an environment that encourages long-term business growth.
For more information on GTL and office space options, please contact SOHAR on +968 7151 8812 or +968 7992 2998, or email [email protected]. The full range of opportunities at SOHAR Port and Freezone can be viewed at soharportandfreezone.com.
About SOHAR Port and Freezone
As one of the fastest-growing ports in the world, SOHAR Port and Freezone continues to leverage on its strategic location and enhance its services, positioning itself as a key logistics hub within the region and across the world boasting container, liquids, and bulk terminals. A powerful combination of the expertise of ASYAD Group and the Port of Rotterdam, it is earmarked as one of the Sultanate’s mega-projects, home to logistics, petrochemicals, and metal clusters, as well as the region’s first dedicated agro terminal. Today, after 17 years of operation, it serves as the main gateway for import and export in Oman, contributing 2.1% of the country’s GDP and almost 26,000 direct and indirect employment opportunities. With a focus on sustainable development and cutting-edge technology, it is leading the development and modernization of the Sultanate’s logistics infrastructure and supporting the economic diversification objectives of Oman’s 2040 Vision.
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