China Overseas Port Holding Company has made the registration process relatively easy for investors. To register a new company in your free zone, you need to complete the following steps. Investors must submit relevant documents to his Gwadar Free Zone Company (GFCZ) and pay a fee. You must also deposit a minimum capital of $500,000 and open a bank account in the free zone.
The registration certificate:
China Overseas Port Holding Company takes about 10 days to analyze. the documents and provide the registration certificate and lease agreement. Once the company has obtained the registration certificate. it must apply for employee visas. Finally investors and workers required to undergo a medical examination. before getting a residency stamp on their visas. The government chose Gwadar as one of the places that should be a focus of development.
Documents required to obtain a business license:
To obtain a license to set up a business in Gwadar, a company must submit the following documents. Business plan or feasibility study. a copy of passport. Color photos of all partners. A bank statement showing his US$500,000 balance. in any of the banks of the Gwadar Free Zone/Partnership Agreement. For a private limited company. the investor must file the company’s Articles of Incorporation and Articles of Incorporation. In addition, a power of attorney must appointed for all transactions in the Free Zone.
The Arabian Sea:
China’s One Belt, One Road Initiative center around Gwadar Port. a core development project implemented. as part of the China-Pakistan Economic Corridor (CPEC) framework. The port may located on the coast of the Arabian Sea. not far from the Strait of Hormuz, considered one of the most important oil shipping routes. In addition to building the deep sea port. Pakistan and China have worked together. to develop the Gwadar Free Zone to maximize the port’s potential. in the surrounding region.
Gwadar Free Zone Schedule:
It is easily accessible by road and air from the major city centers of the country. This economic zone is also a key factor in maximizing the port’s potential. ultimately serving as a regional transportation and business distribution hub. Gwadar Free Zone. The project completed and opened for business in 2018. Development of seafood processing centers, refrigerated warehouses, warehouses and commercial centers. A total of 47 companies approved for registration. as potential investors in the first phase of the Free Zone Investment Program.
Development work:
Additionally, three of his six factories he built are now in full operation. In addition, he has 6 factories under construction. Phase 2 of the Gwadar Free Zone. The second phase of the project. which covers a total area of 2,221 acres, was officially launched a year ago by former Prime Minister Imran Khan. His $3 billion direct investment expected. to create about 30,000 jobs, according to China Port Holding. Phase II development work is currently underway. and expected to take him a year or two to complete.
Benefits of the Gwadar Free Trade Zone:
Gwadar Special Economic Zone. The construction of Gwadar Port. one of his major projects in the China-Pakistan Economic Corridor (CPEC). will improve connectivity with countries in Western China, South Asia and Central Asia. China Port Corporation (COPHC) is responsible. for managing the free zone from the government. that oversees the China-Pakistan Economic Corridor (CPEC). The newly established business in Hong Kong has a 40-year contract. with the Government of Pakistan.
All necessary facilities:
At this point, the company has built a total of 25 high-end shopping malls in Pedan.
The manufacturing facility is fully equipped. with all necessary facilities such as roads, electricity and communication systems. Gwadar will also acquire a power plant. and an international airport according to current plans. Additionally, the establishment of these free zones will help develop strong ties. with China and other countries in the region. Gwadar’s location on the coast of Baluchistan and the Gulf of Oman. which is an important waterway for oil tankers, makes it an ideal strategic port.
The region of Gwadar:
A number of wars had fought over the port of Gwadar, and by the year 1954, Gwadar ruled. by the government of the Sultanate of Oman, despite the fact. that Pakistan had designated the area as a port location. On September 8, 1958, following a series of agreements. Pakistan paid Oman £3 million (equivalent to £65.3 million in 2019) for the region of Gwadar. Despite the fact that the Pakistani government had given its approval. for the development of the port in December 1995, the project did not get underway. because there was insufficient finance. A task committee was constituted.
A commercial port:
Despite the fact that the project was never actually started. because Pakistan subjected to economic sanctions following its nuclear attack. tested in May 1998, construction on Phase 1 of the project began in 2002. This was despite the fact that an agreement had reached with the Premier of China. After the first phase of construction on the port finished in 2007. The “Pos Glory” was the first commercial cargo ship to berth there. Due to the fact that it is a commercial port, Gwadar is an extremely significant port for ships to dock at.
Major access point:
The port serves as a major access point for the 21st Century Maritime Silk Road. which links Mombasa, Kenya, to the Mediterranean Sea through. the Suez Canal, Central Europe and the North Sea through rail travel. and the Chinese coast through the Strait of Malacca. This supported by a number of factors. such as the availability of approximately 70,000 deadweight tones. a draught of 14.5 meters that makes it easy to transport large cargo, direct docking. at the port, and substantial berthing facilities. Additionally this supported by the availability of approximately 70,000 deadweight tones.
