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ASEZA (Arabic: سلطة منطقة العقبة الاقتصادية الخاصة‎), the statutory institution empowered with regulatory, administrative, fiscal and economic responsibilities within The Aqaba Special Economic Zone ( ASEZ) .

In August 2000, the Aqaba Special Economic Zone Authority Law was passed by the Jordanian Parliament. The law established the Aqaba Special Economic Zone Authority ( ASEZA ) as the statutory institution empowered with regulatory, administrative, fiscal and economic responsibilities within The Aqaba Special Economic Zone ( ASEZ) .

The Aqaba Special Economic Zone (ASEZ) is a private sector-driven development initiative.

ASEZA is the financially and administratively autonomous institution responsible for the management, and regulation of the ASEZ. Six ministerial – level commissioners, each responsible for a major area of regulatory or operational activity, govern the ASEZ. ASEZA is a service – oriented organization offering one – stop assistance covering all investment needs.

The Aqaba Special Economic Zone Authority (ASEZA) has put forward a set of incentives that include :

• A flat 5% income tax on the net profit.
• Exemption from social services tax.
• Exemption from annual land and building taxes on utilized property.
• Exemption from taxes on distributed dividends and profits.
• Duty-free import of goods in commercial quantities from the National Customs Territory and overseas.
• No foreign equity restrictions on investments.
• No foreign currency restrictions.
• Full repatriation of profits and capital.
• Streamlined labor and immigration procedures.
• 100% foreign ownership.
• Up to 70% foreign labor.
• Availability of land for lease or sale.
• Full guarantees on rights and ownership.

[edit] See also

• Aqaba

[edit] External links

• ASEZA
• Aqaba