São Paulo – Expatriates can own 100% of their businesses and repatriate their funds with no currency restriction, and they are offered both individual and corporate tax exemptions, custom tax exemption, visas, and the possibility to hire a fully foreign staff. These are some of the benefits offered by the Sharjah Airport International Free Zone Authority (SAIF Zone), which showcase its opportunities for Brazilian businesspeople on Monday (12) in São Paulo.
A strategic location, office rooms, a warehouse, and a whole infrastructure to finish goods, as well as the convenience of obtaining a business license within an hour, were other benefits listed by SAIF Zone Business executive Vishnu Sunil.
The seminar on business opportunities in Sharjah took place in the headquarters of the Arab Brazilian Chamber of Commerce (ABCC) on Avenida Paulista. SAIF Zone Commercial director Raed Bukhatir, Marketing manager Wafa Balaswad, the consul-general of the United Arab Emirates to São Paulo, Abdalla Shaheen, and ABCC International Relations vice president Mohamad Mourad participated, too. Pictured above, from L to R, Balaswad, Bukhatir and Sunil.
“There’re currently 20 Brazilian companies enjoying the facilities in the SAIF Zone, but we want this number to increase significantly. Our desire isn’t just based on the obvious economic advantages but also on the internationalization of Brazilian companies – one of the drivers of the ABCC – and the increased provision of Brazilians high value-added goods and services to the Arab market,” Mourad said in the opening speech.
An industry that may benefit, besides food & beverages and cosmetics, is furniture. “We change our furniture every six months,” said Bukhatir. Furthermore, there are a lot of constructions in the area, including schools, residential buildings and houses, and office buildings.”
Sharjah is the sole emirate that’s connected to the other six Arab emirates. Other benefits listed in the presentation were a stable currency tied to the US dollar; in-house accommodations for employees; visas for the whole staff; choice of location; and lots, warehouses and pre-built offices of different sizes.
SAIF Zone has an industrial license for manufacturing, processing, jewelry manufacturing, packaging, and assembly. Its trade licenses are for importing, exporting, re-exporting, distributing, and storing. As for services, the free zone’s licenses are for information technology, business consulting, logistics, and e-commerce. Despite being close to the airport, the SAIF Zone is also close to ports in the emirate, so any type of product can be worked with.
Translated by Guilherme Miranda
