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Approval of some investment incentives

Approval of some investment incentives

The Director General of Customs is pleased to announce that in promotion of the logistics sector and Free Zones in particular


 

 

The Director General of Customs is pleased to announce that in promotion of the logistics sector and Free Zones in particular, the following investment incentives are approved:

1.      Approved Authorized Economic Operator (AEO) companies are allowed to move goods to Free Zones against a single written guarantee;
2.      Companies may apply for written guarantees through the Bayan system provided they meet the following criteria:
        - No case or violations have been registered against the company "in the past two calendar years"),
        - The company is a high-volume trader, and
        - The activities covered by the guarantee will be conducted within a free zone.
3.      Written guarantees shall be valid for a period of up to 2 years, from the date of issue and may be renewed following re-assessment.
4.      Goods moving directly to a free zone shall be exempt from examination, at the time of movement, provided the company operates a reporting system that confirms goods entrance into the free zone.