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Monday, December 4, 2023

SAIF Zone authorities to visit Pune, meet companies for business expansion


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Pune: A delegation comprising senior officials of the Sharjah Airport International Free Zone (SAIF ZONE), UAE, will be visiting Pune and conduct ‘one on one’ meetings with city-based companies to discuss the business expansion opportunities in the SAIF ZONE.

The meetings, arranged by city-based advisory company Crescendo Worldwide Pvt Ltd, will be held at Hotel Conrad, Mangaldas Road, on May 15 and 16, 2023.

“Crescendo Worldwide Pvt Ltd, Pune based advisory company is arranging a visit of the senior team of SAIF ZONE in Pune on May 15 and 16. The team of SAIF zone will be meeting the companies on ‘one on one’ to discuss the business expansion opportunities by forming a legal entity in SAIF ZONE, UAE,” said Atul Kaluskar, Director of Crescendo.

The SAIF ZONE is focusing on giving benefits to select companies from sectors like Precious Stones and Gems, FMCG, Textile and Fabrics, Automotive Parts Manufacturers, Mining and Metals, Electronics and Electrical, Healthcare, and Information Technology, information and Communications Technology.

There are several benefits for the companies for expanding business in the SAIF ZONE, which include access to the entire global market, tax-fee imports and exports of the goods and services from the FreeZone to the entire world, 100 percent repatriation of capital and profits, no corporate tax and no income tax on operating in the free-zone and residence visas for investors and employees of the free zone companies.

The meetings also assume significance particularly after the UAE-India Comprehensive Economic Partnership Agreement (CEPA), was signed between the two countries, which provides several benefits to the companies.

The benefits of CEPA include greater access for Indian Companies forming business entity in SAIF Zone, UAE, through the reduction or removal of tariffs on more than 80 percent of products, an open and healthy environment for cross-border trade, enhanced market access across 11 sectors and over 100 sub-sectors and removal of unnecessary technical barriers (TBT) for UAE and Indian businesses.


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