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The UAE has a number of free zones across Dubai, [1] Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al-Khaimah and Umm al-Quwain. Free zones may be broadly categorized as seaport free zones, airport free zones, and mainland free zones. Free-trade zone exemptions are: [2] 100% foreign ownership of the enterprise; 100% import and export tax exemptions
In 2005, branded halls opened in Okinawa, Japan, launching a new shop-in-shop concept for DFS downtown stores. In 2008, DFS opened its airport store in Abu Dhabi, the capital of the United Arab Emirates, enabling DFS to serve travelers heading from Asia to Europe. DFS opens stores in Macau in the same year.
Haikou International Duty-Free City Shopping Complex, is the world's biggest stand-alone duty-free store in terms of physical size. Located in Haikou, Hainan, China, the buildings have a total area of 280,000 square meters. [1] [2] Aelia Duty Free – a brand of Lagardère Travel Retail. [3] Comturist – a chain of duty-free stores.
Terms include free port (porto Franco), free zone (zona franca), bonded area (US: foreign-trade zone), free economic zone, free-trade zone, export processing zone and maquiladora. Most commonly a free port is a special customs area or small customs territory with generally less strict customs regulations (or no customs duties or controls for ...
Abu Dhabi Airport Duty Free also opened a small shop in 2004. In 2007, 2,900,000 people crossed the border at Ghuwaifat. In 2007, 2,900,000 people crossed the border at Ghuwaifat. [ 2 ]
As part of its plans to achieve economic diversification by 2030, the Abu Dhabi Government drew up plans to launch a multibillion-dollar industrial park and ports operation on a greenfield site in Taweelah (adjacent to the newly built Khalifa Port) which would become the emirate's first industrial free zone offering 100 per cent foreign ownership. [2]
It also has outlets in several countries in the Middle East and in 2015 won a 10-year contract to operate duty-free stores at the new Midfield Terminal Building in Abu Dhabi International Airport. [25] In 2016, DAA International won the contract to manage the new Terminal 5 at King Khaled International Airport in Riyadh, Saudi Arabia. [26]
Free-trade zones in Dubai, (FTZs) are special economic zones set up with the objective of offering tax concessions and customs duty benefits to expatriate investors. There are 26 Free Zones operating in Dubai. FTZs in Dubai and the UAE are governed pursuant to a special framework of rules and regulations. A Free Zone Authority offers business ...