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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 ...
DIFC is regulated by the Dubai Financial Services Authority, an independent regulator exclusive to the zone, and by its own court system, DIFC Courts, separate from the Emirate of Dubai's legal system and that of the federal government of the UAE. [3] DIFC follows the common law framework and operates in English. [4]
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 ]
However, if the no. of employees are higher - they would be required to lease a dedicated office space within the freezone. A Free Zone Company can obtain UAE residence visas for the director, shareholder and also employees of the company through the Free Zone where it is registered. Startups and Legal Works in Dubai: Navigating the Path to Success
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. [11] [12]
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: 100% foreign ownership of the enterprise; 100% import and export tax exemptions
Central Park Towers is a complex of two towers in Dubai International Financial Centre (DIFC) in Dubai, United Arab Emirates. The complex comprises the Office Tower which is 45 floors and 219.9 m (721 ft) tall, [1] and the Residential Tower which is 47 floors and 243 m (797 ft) tall. [2] [3]
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.