A Free Trade Zone is a specially designed area for promoting export trade and opening the home economy to outside world. The global economy is becoming increasingly more interdependent and a free trade zone helps as a gateway to export products.
United Arab Emirates is a strategic location for international trade. Since its inception as a federal state the government had opened up the economy for the foreign investors and global traders. In furtherance of this each Emirate has established free zone/s in the respective Emirate to promote the international trading. Currently there are 12 active Free Trade Zones in UAE, which offer the following incentives to the investors:
Incentives to Investors
100% foreign ownership No corporate taxation for 15 years;
renewable for an additional 15 years Freedom to repatriate capital and income No personal income tax Full exemption from import duties No currency restrictions No bureaucratic red-tape No recruitment problems Modern efficient communication State-of-the-art infrastructure Abundant energy Attractive working environment
Types of Licence Issued
In general, most of the free zones issue the following types of licences except Dubai Internet City and Dubai Media City:
1. Trading Licence
2. Industrial Licence
3. Service Licence
4. National Industrial Licence
Dubai is a hub for a number of free zone areas offering investors the options of setting up business in a secure and hassle free environment.
The Free Zone areas in Dubai are:
Dubai Internet City
The Middle East's biggest IT infrastructure employing over 5,500 skilled workers
Dubai Media City
is home to over 550 media companies and freelance media professionals Jebel Ali Free Zone Authority – over 2,200 companies with approximately 40,000 workers from around the world operate within the JEBEL Ali Free Zone.
Dubai Airport Free Zone Authority
Located within the boundary of the Airport and provides facilities for over 317 companies with 7,000 workers
Dubai Gold and Diamond Park
Established for gold and diamond trading and manufacture. Unlike other Free Zones, offers retail shopping facilities to visitors.
Knowledge Village
A centre of excellence for learning and innovation - A vibrant connected learning community that will develop the region's talent pool and accelerate its move to the knowledge economy by providing infrastructure for developing, sharing and applying knowledge. In addition it will facilitate, promote, and become the flagship for e-learning throughout the region
Textile City
A
free zone designated for the textile trade.
Dubai International Financial Centre (DIFC)
Is being established to create a financial marketplace to serve the region and will have over 100 companies operating from here.
Dubai Healthcare City
Established to provide the highest quality healthcare service to medical care.
Dubai Maritime City
With a total land area of approximately 2,300,000 square meters will bring an influx of workers into the area.
Dubai Humanitarian City
E
stablished to provide a suitable environment for humanitarian and related organizations, also bringing new employees into Dubai.
Dubai Festival City
Will cover 1600 acres (including 3.8 kms of waterfront) and will have 21,000 residential units and will house 75,000 people
Dubai Silicon Oasis
With an area of approximately 6.5 million square meters this project will offer land for customized buildings for an industrial park for the semiconductor industry
Dubai Metals & Commodities Centre
A new free zone, this will have approximately 20,000 people working in its refineries, manufacturing units and offices .
Dubai Customs and Automobile Free Zone
Established for the motor industry. Controlled by JAFZ Authority.
Dubai Financial Free Zone
Targeting asset management, private banking and reinsurance, complete with its own courts.
