A free zone or free trade zone, is a designated geographical area where certain taxes or restrictions on business, employment or trade do not apply in the same manner that they apply to the country in which the zone is located.
In a free zone, goods may be landed, handled, manufactured, reconfigured or re-exported without the intervention of the customs authorities. Only when the goods are moved to consumers within the country in which the zone is located do they become subject to the prevailing customs duties.
A free zone is often organised around major seaports, international airports, and national frontiers – areas with many geographic advantages for trade.
Benefits of setting up a company in a free zone in UAE
Some of the other benefits of setting up a business in the free zone include:
- 100% import and export tax exemptions
- 100% ownership for expat partner
- 100% repatriation of capital and profits
- No corporate tax
- No personal income tax
- Easy start-up and licensing procedures
- No need of physical office as a necessity.
Following are some of the Free Zones in UAE in which we mainly deal:
- Ajman Free Zone
- Dubai Airport Free Zone
- Dubai Design District
- Dubai Internet City (DIC)
- Dubai Knowledge Village
- Dubai Logistics City/ Dubai South
- Dubai Media City
- Dubai Multi Commodities Centre or Jumeirah Lakes Towers Free Zone
- Dubai Silicon Oasis
- Dubai Studio City
- Fujairah Free Zone
- Jebel Ali Free Zone
- Masdar City Free Zone
- Hamriyah Free Zone
- Sharjah Airport International Free Zone
- Sharjah Media City Free Zone
- Ras Al Khaimah Economic Zone
- Umm Al Quwain Free Trade Zone (UAQFTZ)