The top seven free zones in the UAE - PowerPoint PPT Presentation

About This Presentation
Title:

The top seven free zones in the UAE

Description:

Choosing the right free zone in Dubai, UAE is a challenge that necessitates the implementation of an effective strategy to suit the business plan, so it makes sense to seek advice from the right business setup consultants. – PowerPoint PPT presentation

Number of Views:6
Date added: 22 June 2022
Slides: 13
Provided by: DubaiSouth
Category: Other

less

Transcript and Presenter's Notes

Title: The top seven free zones in the UAE


1
The Top Seven Free Zones in the UAE
2
INSTRUCTIONS
Free Zones (or Free Trade Zones) were originally
established to promote international trade by
allowing companies to have 100 percent foreign
ownership and providing preferential rates and
taxes. As the number of Free Zones in the UAE
grew, they began to specialise in specific
industries and niches, each with its own set of
competitive advantages. Each zone has its own set
of rules and is overseen by its own authority. In
the United Arab Emirates, there are over 45 free
zones spread across Dubai, Abu Dhabi, Sharjah,
Fujairah, Ajman, Ras al Khaimah, and
Umm-al-Quwain. All of these offer the best
facilities and incentives to businesses. Choosing
the right free zone in Dubai, UAE is a challenge
that necessitates the implementation of an
effective strategy to suit the business plan, so
it makes sense to seek advice from the right
business setup consultants.
3
What are the benefits of a free zone?
  • Foreign ownership 100
  • Free transfer of funds 100
  • Eexemption from import and export duties 100
  • Repatriation of capital and profits 100
  • Exemptions from corporate and personal taxes
  • Documentation is becoming less and less suitable
    for foreign investors.
  • These and other advantages make the establishment
    of a free trade zone an appealing option for
    investors and entrepreneurs. However, there are a
    few restrictions to establishing a business in
    UAE Free Zones

4
Activity Restriction
Restricted to specific areas
Activities are restricted in a free zone company
setup. This is due to the jurisdiction's specific
specialisation and governance.
A company set up in a free zone has fewer options
for office space. This is due to the requirement
for companies to establish themselves within the
jurisdiction of the Free zone.
5
Onshore expansion constraints
Trade Restrictions within UAE
The disadvantages of forming a free zone company
in Dubai include being restrict to the business
activities of the specific free zone. Expansion
into other markets in the UAE is not permitted.
Despite numerous advantages, companies may find
it more difficult to trade with companies outside
their free zone. To conduct business, most
companies find it necessary to hire an onshore
commercial agent or distributor. Technically,
free zone trade with the rest of the country is
prohibited by law.
6
Free Zone of Dubai Multi Commodities Centre (DMCC)
Dubai Multi Commodities Centre (DMCC) is not only
the current winner of the world's best Free Zone
award 2020 by FDI, but it has also done so for
the sixth year in a row (2015 2020). DMCC is a
well-known free zone for commodity trading firms.
It provides cutting-edge infrastructure,
world-class services, and a robust ecosystem for
business formation. DMCC is the region's
dedicated trading centre and thriving marketplace
for commodities, financial services, and a
growing range of specialty industries. It is also
the world's fastest-growing free trade zone. It
connect to the most prominent retail,
residential, and tourist districts in the region
and is easily accessible from entry and exit
points in Dubai and the Expo2020 site. This is
designed for trade and brings together over
19,000 businesses from all sectors and industries
to form the world's most interconnected Free
Zone.
7
Ras al Khaimah Economic Zone (RAKEZ)
Ras al Khaimah (RAKEZ) is rank eighth in the list
of Global Free Zones for 2020 by FDI. When it
comes to affordability, RAKEZ is the best. Its
low business setup fee and generous incentives
for business partners make it particularly
appealing to entrepreneurs and investors. RAKEZ's
strategic location connects investors to the
Middle East, North Africa, Europe, and South and
Central Asia's growing markets. The free trade
zone currently houses over 15000 international
and multinational companies from over fifty
industries and a hundred countries. RAKEZ is one
of the few Free Zones that always has
customizable warehouses and industrial land plots
available for development.
8
Umm Al Quwain Free Trade Zone (UAQ FTZ)
Umm Al Quwain Free Trade Zone (UAQ FTZ) is
located near the UAE's main seaports and within
an hour's drive of Dubai International Airport
and Sharjah International Airport, allowing for
easy access to the rest of the world. The UAQ FTZ
offers an investor-friendly environment, making
it easier than ever to establish a commercial
base in the UAE. Company formation in UAQ FTZ is
not only tax-free, but also involves minimal
costs for registration, office space, and other
annual expenses. This free zone offers all of the
amenities found in other free zones (100 percent
company ownership, zero currency restrictions,
and so on) at a low cost. It is for this reason
that forward-thinking SMEs and micro-businesses,
in particular, have enormous growth opportunities
in UAQ FTZ.
9
Creative City Fujairah (CCF)
Creative City Fujairah is one of the MENA
region's fastest-growing Media Free Zones. The
Fujairah Creative City Free Zone Authority
specialises in Media, Events, Consulting,
Education, Communication and Marketing, Music and
Entertainment, Design and Technology,
complementing the region's existing media
clusters and facilitating further creativity in
these fields. CCF's business licence packages
provide entrepreneurs and investors with
everything they need to start a business in the
region. CCF is an excellent option for those
seeking to combine multiple service activities,
obtain a large number of visas, and establish a
business without making a personal visit.
10
Dubai South
The Dubai South Free Zone (previously known as
Dubai World Central) is one of the Government of
Dubai's strategic business hubs. Today, the Dubai
South Free Zone is the world's largest and most
important trade, business, and aviation
hub. Dubai South occupies 140 square kilometers
of multipurpose land adjacent to the Jebel Ali
Sea Port. The international airport in Dubai
South Free Zone is strategically located to
provide convenient logistics and shipment
throughout the GCC, Middle East, and the entire
world. The Dubai South Free Zone is the UAE's
strategic platform for the expansion of
logistics, aviation, light industry, and
ancillary service businesses.
11
Free Zone of Sharjah Media City (SHAMS)
  • Sharjah Media City (SHAMS) Free Zone is one of
    the UAE's newest and most well-known free zones.
    Shams is located in Sharjah, only 5 minutes from
    Sharjah International Airport and 15 minutes from
    Dubai International Airport. It establish in
    January 2017 with the goal of making creative
    entrepreneurship accessible and inspiring
    business growth.
  • This free zone is frequently compare free zones
    in the UAE that offer the cheapest company
    formation packages. The free zone's service
    levels are comparable to the best free zones in
    the UAE. SHAMS Free Zone Authority is well-known
    for its low-cost licence packages, which start at
    AED 11,500. The company registration procedure
    complete remotely in two working days.
  • Ref https//writeupcafe.com/the-top-seven-free-zo
    nes-in-the-uae/

12
Contact Us
Dubai South Address Dubai South
Headquarters P.O. Box 282228, Dubai South,
UAE Contacts Within UAE (toll free) 800-SOUTH /
800-76884 International 971-800-76884 Email
INFO_at_DUBAISOUTH.AE
https//www.dubaisouth.ae/
Write a Comment
User Comments (0)
About PowerShow.com