BUSINESS SETUP FREEZONE
Ayn Al Twar Dubai UAE
- HOW TO SETUP BUSINESS IN FREEZONE, UAE?
- WHAT IS FREE ZONE
- A free zone is a segment of clearly defined and isolated land or setting, with a special tax, customs and imports regime, that is different from the mainland area (country) usually involving a status of extra-territoriality. Free Zones are planned for boosting international businesses through providing 100% ownership to expatriates and single window administration convenience. In UAE, free zones are either attached to ports or industry specific.
- WHY FREE ZONE
- The main idea of establishing free zones in the UAE was for them to serve as a central business hub for companies willing to conduct business with the outer world, not specifically in the UAE.
- Therefore, UAE free zone companies are intended to operate within the corresponding free zone as a hub for the worldwide operations and are not licensed to operate within the rest of the UAE. As a result most of the free zone companies during the initial days were engaged in import and re-export activities. But today, a large majority of such free zone companies do business with their clients in UAE and GCC through their local distributors.