Qualifying Free Zone Person
A Qualifying Free Zone Person must meets ALL of the following conditions:
- Maintains adequate substance in the State.
- Derives Qualifying Income as specified in a decision issued by the Cabinet at the suggestion of the Minister.
- The Person shall undertake its core income-generating activities in a Free Zone and, having regard to the level of the activities carried out, have adequate assets, an adequate number of qualified employees, and incur an adequate amount of operating expenditures.
- Has not elected to be subject to Corporate Tax under Article 19 of this Decree-Law.
- Complies with Articles 34 (Arm’s Length Principle) and 55 (Transfer Pricing Document)
- Meets any other conditions as may be prescribed by the Minister.
