There are many types of free zones in Dubai which is considered a futuristic city that has grown tremendously over the past several decades because of its advantageous location, pro-business regulatory environment, and modern infrastructure.
This transformation has been largely attributed to the Emirati government’s offers to establish and expand many types of Free Zones in Dubai and other regions of the UAE that have played a crucial role in this development.
Would you be interested in learning more about these important economic sectors? Read this article to know all the information you need about the types of free zones in Dubai, as well as the most popular list of free zones in UAE.
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What Do We Know About The Types of Free Zones in UAE?
UAE Free Zones – Dubai are special economic zones that provide investors with tax and customs advantages and are each managed by a unique set of regulations and laws.
They are made with 100% ownership accessible to all nationalities, simplified start-up, labor, and immigration processes, and other legal services in mind to promote international investment.
There are many types of free zones in dubai, it has more than 30 free trade zones. With a unique set of rules and guidelines established by that free zone authority, each individual zone is run by its own authority. These zones are run primarily in order to influence foreign investors and encourage FDI into this country.
Each of these FTZs is governed by an Authority that manages various trade perspectives. For instance, preparing a company license for any FDI program, receiving an industrial license, launching a relevant sector, etc.
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What Makes UAE Free Zone Popular in The Business World?
- total foreign ownership (local partners or sponsors are not necessary).
- Complete fund and profit repatriation.
- Exemption from all personal and corporate income taxes.
- 0% Currency restrictions.
- A range of activities requires a license.
- a plentiful supply of cheap energy.
- Effective, contemporary communications.
- Logistical savings brought on by the business cluster impact.
- Serviced offices and workstations for startups and SMEs.
- Ten top-notch support services.
The Top Free Zone in UAE |law firms in dubai
Which free zone is best in UAE? In fact, there are more than 20 different types of free zones in Dubai, and the majority of them are centered on one or more industries, granting permits to businesses in those industries often involved in commerce, services, and industrial activities. Here are the most popular ones:
1- Dubai Airport Free Zone Authority (DAFZA)
One of Dubai’s major free zones is (ifza) which was founded in 1996. More than 1,800 registered companies and 17,000 employees are housed there. DAFZA is a well-established zone that deals with import and export services and commodities. It gives businesses a basis within a cutting-edge, all-encompassing environment from which to conduct business.
2- Jebel Ali Free Zone Authority (JAFZA)
JAFZA (Free Trade Zone) is the UAE’s biggest and oldest free zone, having been created in 1985. JAFZA is the best free zone in UAE, it is the economic and industrial major hub of Dubai. With its wide range of products, which include land plots, warehouses, showrooms, bespoke development solutions, offices, retail stores, a business park, and even on-site housing, it guarantees that customers will discover the ideal setup for their requirements.
3- Dubai Health City (DHC)
The best free zone in UAE is DHC, it is a healthcare-focused free zone that was established in 2002. The most extensive variety of services in healthcare, medical education, pharmaceutical distribution, medical equipment, and wellness are provided by DHCC, all of which are intended to encourage medical tourism to Dubai.
4- Dubai Internet City (DIC)
1600 companies and 24,000 employees are housed in Dubai’s innovation and technology area, known as DIC. It grants IT businesses 50 years of ownership, tax, and customs benefits.
5- Dubai Silicon Oasis (DSO)
DSO is located in the center of Dubai Digital Park. it is an entire technological park that provides cutting-edge facilities to anybody who wants to start a business in Dubai. It has an office and residential spaces that are ready to move in
6- Dubai Design District
it is one of the best Free Zone company that owned by TECOM Group, created especially for the design industry. Businesses for setup, entrepreneurs, and luxury and fashion companies are welcome in the free zone. It provides a creative environment that will help establish Dubai as a top destination for design, art, and culture.
7- Dubai Media City (DMC)
DMC founded in 2001, strategically placed in Dubai at the crossroads of the Middle East, Africa, and South Asia has rapidly evolved as a worldwide media hub. DMC gives media-related companies the cutting-edge facilities and welcoming atmosphere they need to operate internationally from Dubai.
8- Dubai Multi Commodities Centers DMCC
DMCC is the global commodity trading hub. It is centrally positioned in Dubai and a great place to start and expand your business.
9- Dubai International Financial Centre (DIFC)
Free Zone company, a free zone known as DIFC serves as a financial hub for 72 countries, including those in the Middle East, Africa, and South Asia. It is the largest financial ecosystem in the area, with over 2,500 businesses and about 26,000 professional companies.
10- Meydan Free Zone
Meydan Free Zone Is a Free Trade Zone in UAE and it offers global free zone trading rights to enterprises relocating to Dubai, United Arab Emirates. Flexible desk spaces in Meydan Free Zone can accommodate any business, regardless of its size or range.
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another list of free zones in UAE:
- Masdar City Free Zone
- Dubai Maritime City
- Khalifa Industrial Zone Abu Dhabi (KIZAD)
- Sharjah Publishing City
- Hamriyah Free Zone
- Dubai Commercity
- Khalifa Port Free Trade Zone
- Creative City Free Zone
- Sharjah Media City – Shams
- Ajman Free Zone
- Fujairah Free Zone
- Dubai South
- Dubai World Trade Centre
- Dubai Design District
- Dubai Science Park
- Dubai Multi Commodities Centre
- Dubai Outsource City
- Dubai Silicon Oasis
- Sharjah Airport International Free Zone
FAQ about best free zones in dubai
1- What are the dubai freezone benefits?
Income and revenues earned by natural people and legal organizations as a consequence of their manufacturing activity in free zones are not subject to income tax. Users that export 85 percent of their output benefit from 25-40% cheaper labor since they pay no income tax on their employees.
2- How many free zones in Dubai?
The UAE has more than 40 specialized free zones where expatriates and international investors can hold 100% of a company.
3- Which is the cheapest free zone in UAE?
The cheapest Free Zone in Dubai is IFZA (International Free Zone Authority). IFZA offers a low-cost company license in Dubai without visas at a cost of AED 11,900. This is the cheap and best Dubai free zone license offer in 2023.
Conclusion
Free zones in Dubai are attractive to many foreign businesses, but the complexity of the new legislation could necessitate outside consultation. Khairallah Advocates & Legal Consultants will assist aspiring entrepreneurs with their business strategies, including business setup and continuing support in areas
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Need assistance in setting up a trading firm in some Dubai free zones. Also need clarity on Visa procedure and medical tests.
Dubai’s free zones attract businesses with numerous benefits and a business-friendly environment.
Free zones offer advantages like 100% foreign ownership, no personal or corporate income taxes, and simplified business setup procedures.
Jebel Ali Free Zone (JAFZA) is the largest free zone in the Middle East, known for its world-class infrastructure and facilities, ideal for trading, manufacturing, and logistics businesses.
Dubai Multi Commodities Centre (DMCC) specializes in commodity trade, offering 0% personal and corporate tax for up to 50 years, accommodating various industries with flexible license options.
Dubai Silicon Oasis (DSO) is a tech-focused free zone with advanced IT infrastructure, competitive business setup costs, and access to a skilled workforce.
Each free zone caters to different industries and offers unique advantages for businesses looking to establish their presence in Dubai.