What Are Trade Free Zones?
It wasn’t until the 1970’s that Dubai truly started capitalising on its oil reserves which brought an influx of wealth and prosperity to the region. Having invested in the infrastructure to extract and export the oil Dubai has started to move away from its oil reliance and encourage investment in other areas of the economy. Because of the emergence of the United Arab Emirates of which Dubai is part of, as a relatively newly established country (it was under British rule until the 1970’s) this has left large gaps in the establishing of markets and as such are there to be taken advantage of by any savvy investors and the authorities are actively encouraging this.
One way of trying to bring in foreign investment into the emirate is through trade free zones. These trade free zones have fewer restrictions imposed on them than other areas and there are specific zones for specific businesses bad the advantages of setting up a business in one of these zones can include:
- 100% Ownership
- Tax Exemption
- Purpose Built Warehouses &/or Office Spaces
There are more than 20 free zones operating in Dubai each catering for a specific sector including tech, medicine and industry.
For more information on opening a company in Dubai or Dubai Free zones visit https://www.openadubaicompany.com/contents/the-free-zones.html or email us at [email protected]