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The International Free Zone Authority (IFZA) is one of the most cost-effective and fastest-growing free trade zone in Dubai. This freezone was founded in Fujairah Emirate and has moved to Dubai Silicon Oasis (DSO), Dubai. [6] Meydan Free Zone is the one of the most thriving commercial free zones in the UAE and offers over 1500 activities under ...
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
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.
The Dubai Development Authority (DDA) (Arabic: سلطة دبي للتطوير), formally known as the Dubai Creative Clusters Authority and Dubai Technology and Media Free Zone Authority, [1] [2] is a Dubai government authority that oversees the development, control, municipal, economic, and immigration functions across select free zone clusters and other communities by various master ...
Some of the benefits of setting up business in UAE Free Zones are: No Corporate Tax, 100% exemption [18] provided that business done between the free zone company and any mainland companies are under 375,000 AED a year. [19] 100% ownership of business; Bank accounts can be opened in a business's name; Reasonable renewal fees
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 ]
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 ...
Fujairah Free Zone (FFZ) is a special economic zone in Fujairah, which is one of the seven emirates that comprise the United Arab Emirates. Fujairah Free Zone is located just north of the emirate's capital, Fujairah City . [ 1 ]