Over the past decade, the UAE has established itself as one of the most competitive and versatile structuring hubs worldwide. A combination of factors has contributed to this ascension – e.g. no corporate and personal income tax, access to a broad network of double tax and investment protection treaties, no restriction on profit repatriation, no foreign currency control, sophisticated regulatory framework and corporate tools, worldwide connectivity – but perhaps none more than the concept of “free zone”.
What’s new?
The establishing of the ‘Dubai Authority for Economic Zones’ was recently announced, which will now consolidate the previously independent free zones of Dubai Silicon Oasis, Dubai Airport Free Zone and Dubai CommerCity.
The authority, which includes 5,000 registered companies, will introduce new frameworks to improve services provided to businesses and investors, which in turn will help accelerate economic growth. The initiative seeks to consolidate the success of free zones in catalysing growth.
Our updated compilation of the UAE’s major free zones, their core focus, key features and USPs will guide you and/or your clients to determine which free zone is most suitable for every specific business concept.
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