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Free zones in Dubai are managed and operated by the relevant authority. For instance, the Jebel Ali Free Zone Authority in Dubai is responsible for managing, operating and supervising the Jebel Ali Free Zone, one of the largest seaport free zones in Dubai. It has a subsidized rate of 32 percent on the country's Foreign Direct Investment (FDI).
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
The establishment of designated freezones in the United Arab Emirates (UAE) traces its roots to the nation's strategic vision for economic diversification.In the late 20th century, recognizing the need to reduce reliance on oil revenue, the UAE embarked on a deliberate initiative to create economic zones that would attract foreign investment, promote international trade, and foster innovation.
In the UAE, free zones offer specific tax benefits for businesses operating within them. Companies in these zones benefit from: Corporate Tax Exemptions: Free zone companies are generally exempt from corporate taxes for a period of 15 to 50 years, which is renewable. This exemption is a significant incentive for businesses looking to establish ...
Jebel Ali Free Zone (Jafza) is the flagship free zone of DP World, and is an integral part of DP World UAE's integrated business hub. Created under a Ruler's Decree, Jafza commenced operations in 1985 with 19 companies offering standard size office units and warehouses to provide ready-built facilities to customers. [ 1 ]
www.difc.ae The Dubai International Financial Centre ( DIFC ) is a special economic zone in Dubai covering 110 ha (272 acres), established in 2004 as a financial hub for companies operating throughout the Middle East , Africa , and South Asia (MEASA) markets.
Established in 2015, Dubai World Trade Centre Authority (DWTCA) is a free zone, home to 2,000+ companies from 40+ industries spanning construction, healthcare, IT, media, and trade. [ 8 ] [ 9 ] [ 10 ] In December 2021, DWTC's mandate was expanded to include virtual assets and crypto , including digital assets , products, operators, and exchanges.
DMCC Free Zone is the largest free-trade zone in the UAE, with more than 21,000 registered members as of 2022. [13] [14] In 2022, DMCC was named number one global free zone for an eighth consecutive year by the Financial Times fDi Intelligence magazine. [15] [16] Aerial View of Jumeirah Lake Towers (JLT)