UAE Freezone
The United Arab Emirates (UAE) is renowned for its Free Zones, which are designated areas designed to promote economic activity and attract foreign investment. These zones offer unique benefits and are a key component of the UAE’s strategy to diversify its economy and establish itself as a global business hub. They play a crucial role in supporting the UAE’s vision of reducing its reliance on oil by fostering growth in other sectors like technology, trade, finance, and media.
Notable Free Zones In UAE
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Benefits Of UAE Freezone Business Setup
- 100% Foreign Ownership: Unlike mainland UAE, where a local partner is required, businesses in Free Zones can be entirely owned by foreign nationals.
- Tax Exemptions: Companies in Free Zones benefit from corporate tax exemptions for a period that can range from 15 to 50 years, with the possibility of renewal. There is also no personal income tax in these zones.
- Custom Duty Exemptions: Goods can be imported into and exported from the Free Zones without paying customs duties, which is particularly advantageous for trading and manufacturing businesses.
- Ease of Business Setup: Setting up a business in a Free Zone is straightforward, with quicker processing times for licenses, permits, and visas.
- Repatriation of Capital and Profits: Businesses can repatriate 100% of their capital and profits, making it easier for foreign companies to manage their finances.
- State-of-the-Art Infrastructure: Free Zones often provide advanced infrastructure, including modern office spaces, warehouses, and logistical support tailored to specific industries.
Types Of Free zones
General Free Zones
These cater to a wide range of industries, offering a variety of licenses and facilities. Examples include Jebel Ali Free Zone (JAFZA) and Dubai Multi Commodities Centre (DMCC).
Industry-Specific Free Zones
These are designed for specific sectors, providing tailored infrastructure and services. For example, Dubai Media City focuses on media and entertainment, while Dubai Healthcare City caters to the healthcare industry.
Technology and Innovation Free Zones
Zones like Dubai Silicon Oasis and Abu Dhabi’s Masdar City are focused on fostering technology and innovation.
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