UAE Free Zone Business Setup - Free Zone (also known as Free Trade Zone - FTZ) is a designated geographical area within the territories of a country, which is deemed to be outside the customs territory. Still a Free Zone is subject to the control of customs authorities. The customs rules, regulations and procedures applicable in Free Zones are different from those applicable in mainland.
Free Zones are aimed to stimulate international trade by removing trade barriers like quotas and tariffs imposed by customs authorities. Free Zones also ensure simple procedures for import and export transactions by narrowing down bureaucratic formalities and regulations. The business friendly environment attracts new business and foreign investments to Free Zones.
In the latter decades of 20th century, developing countries across the world started using the concept of Free Zones to boost economic growth and Dubai was forerunner.
Investors across the world prefer to set-up their business in Free Zone jurisdictions of Dubai and other Emirates of UAE because of the following prominent advantages:
100 per cent foreign ownership.
100 per cent import and export tax exemption.
100 per cent repatriation of capital and profit.
Absence of corporate tax and personal income tax.
Easy incorporation procedures.
Setting up a business entity in one of the Free Zones in UAE can be a feasible option for foreign investors and businesses houses. Most of the Emirates in UAE have already developed many Free Zones with unique selling points and others are developing.
The Free Zones in Dubai has state of the art infrastructure and logistics to cover a wide variety of business from trading, manufacturing and service sectors.
Here is a list of major Free Zones in United Arab Emirates:
Dubai Production City (DPC)
Dubai Flower Centre
Int’l Humanitarian City
Abu Dhabi Airport Free Zone
Mr. Baiju Masoodu is a Free Zone Business Set-up Consultant. Our ‘corporate service firm’ can advise and assist you to set-up a business in Dubai and UAE Free Zones. For a free consultation & cost estimate, call me on: +971 50 214 1476 or mail me at: firstname.lastname@example.org