Imam Khomeini International Airport’s (IKIA) free trade zone is ready for economic activities through the establishment of a new customs building and stock room since June 2019. The purpose is to evolve IKIA into a major cargo and passenger hub in the Middle East.
IKAC, which includes a 1,500-hectare free trade zone and a 2,500-hectare special economic zone in a 13,700-hectare area, aims to help national and international companies to cluster around the airport and engage in business activities. The unique geographical location of Iran and its altitude in comparison to the International airports of Iran’s neighboring countries makes it reasonable to invest in the expansion of IKAC. IKAC is looking for investors in international finance, as well as owners of know-how in this industry. This is good news for who may wish to make investments in free zones.
According to Iranian laws and regulations, the main advantages of free trade zones are:
1) 20 years income tax exemption for any type of economic activity
2) No requirement for foreigners to obtain a visa
3) No limitation on currency transfer
4) Exemption from certain customs duties
Connecting IKIA to the international transportation networks, including the East-West and North-South corridors, as well as linking it to the national railway and Tehran’s subway system are among the main steps to achieve such a goal.