LMKG Chartered Accountants

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.

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