Free Trade Zones Dubai
UAE has one of the highest per capita incomes in the Middle East, thereby attracting many investors in this region. UAE is generally being associated with oil and natural resources. But there are many more business opportunities there. The governing bodies of the emirates that form the UAE develop world class infrastructure and foreign investment policies and schemes that make locations such as Dubai most popular business hubs in the world.
A free zone is a portion of defined and specific infrastructure, with a special tax rules, customs and imports regime, usually meant for foreign investors who do not belong to the UAE business region and scenario. Free Zones provide the required infrastructure and incentives to the investors who wish to set up a business in the free zone.
There are many free zones that have been developed in the UAE. Some of them being Dubai Airport Free Zone, Hamriyah Free Zone, Dubai Internet City and Jebel Ali Free Zone. Some of the benefits of incorporating a business in UAE are
- 100 % foreign ownership
- Exceptional infrastructure
- Facilities such as warehouses, industrial parks and office premises
- Repatriation of capital & profits and no corporate taxes
Thus these Free Zones comprise of modern business models that provide access to the technology and infrastructure to a present day business that has to be competitive to stay in the race.
The major free trade zones in Dubai are
- Dubai Airport Free Zone (DAFZ)
- Dubai Car and Automotive City Free Zone (DUCAMZ)
- Dubai Flower Center Free Zone
- Dubai Gold and Diamond Park
- Dubai Health Care City (DHCC)
- Dubai Industrial City (DIC)
- Dubai International Financial Centre (DIFC)
- Dubai Internet City (DIC)
- Dubai Knowledge Village (KV) (DKV)
- Dubai Media City
- Dubai Multi Commodities Centre (DMCC)
- Dubai Gold and Commodities Exchange (DGCX) – part of DMCC
- Dubai Silicon Oasis
- Dubai Technology and Media Free Zone (TECOM) – includes DIC, DMC, DKV
- Economic Zones World (EZW) – includes Techno Park, Dubai Auto Zone, International, JAFZ
- Jebel Ali Free Zone (JAFZ)
Jebel Ali Free Zone, the first free zone in the UAE, was established in 1985 to coincide with the inauguration of Jebel Ali Port, the world’s largest man-made harbor. It is strategically located between the Jebel Ali Port, and the Jebel Ali Airport, both known for their large capacity for freight transfer. This free zone has grown to a huge micro-economy that houses 6000 companies, 150 of which have been listed among the Fortune Global 500.
The Dubai Airport Free Zone is also an ideal choice for international branch offices and entrepreneurs. This has been built with a state-of-the-art technology and infrastructure, such as optical Fiber Optic networking. It also has access to a large number of consumers; most of them being from different parts of the world .It is predicted that 60 million commuters might pass through Dubai International Airport by the next year.
Both of these zones offer a wide range of amenities such as superior quality offices, storage and warehouses with the capability to be converted into an assembly factory. They also offer assistance to the entrepreneurs to design their business models, to find suitable business partners within the free zone, and consultation support.
All of these zones offer tax exemption for entrepreneurs and investors who wish to incorporate offshore business incorporation.
About the Author
Jumeira Consultants is able to offer clients assistance with all aspects of offshore company formation, business setup in dubai, business setup in uae free zones. Dubai free zone
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