What are the Free Zones in UAE?
Free Trade Zones are the special designated zones in the United Arab Emirates (UAE) that are 100% tax free with custom and imports benefits. Moreover, these zones are independent working authorities with their own rules and regulations. However, there are many UAE free zones which are situated across Dubai, Abu Dhabi, Sharjah, Ajman, Ras al Khaimah(RAK), Fujairah and Umm al Quwain. Since each free zone in the UAE is established to serve specific types of business categories.
Thus, all those business investors looking for full ownership can select a license and location in one of the several free zones in the UAE. As the UAE free zones are created to encourage foreign investors with easier business start-up process, immigration and hiring employee’s procedures. However, each free zone has its own conditions and work under its own authority.
What are the different types of free zones available in the United Arab Emirates?
Since each free zone provide business license to investors within specific categories. Moreover, an independent authority governs each free zone and is thus responsible for issuing “Free Trade Zone” operating licenses and also support companies with establishing their business in the FTZ.
Some of the special benefits of the best UAE free zones are:
- 100% foreign ownership in the business license
- 100% tax free import and export
- Full repatriation of capital and profits
- Corporate tax exemption for up to 50 years
- No personal income taxes
Full support with labour recruitment, such as sponsorship and housing.
Also a new company license can be registered by an investor in the form of a Free Zone Establishment (FZE), a branch or representative office of their existing parent company within the UAE or abroad.
What is FZE?
It is a limited liability company governed by the rules and regulations of the free zone in which it is established. Moreover, the provisions of the commercial companies law do not apply to the FZEs. Free Zones as per Emirate (State) in the UAE As of now, there are more than 45 Free Zones in the UAE. Below are the free zone authorities as per emirate/state in the UAE: