Free zones are developed to support economic reform; to act as pressure valves
to alleviate growing unemployment; to serve as experimental labs for the application
of new policies and approaches; and to attract FDI.The strategic location decision
is driven by market potential and the growth of the market share; the proximity
to the customer base; the quality and cost of labor, the quality of the transport
network, and the incentives offered would be the key features of a free zone setup.
UAE economy is clearly divided between the onshore sector , dominated by local
business interests, with restrictions on foreign ownership, and the offshore sector
which consists of a number of Free zones.
There are no taxes to speak of, on or offshore, but 100% foreign ownership and customs
privileges make the free zones the most favorable locations in the Middle East for
international operations.
We offer our professional services and expertise in the
formation of companies in all free zones of UAE including Sharjah Airport International
Free Zone (SAIF Zone), Jebel Ali Free Zone Authority (JAFZA), Dubai Airport Free
zone Authority (DAFZA), Hamariyah Free zone Authority, Ajman Free Zone Authority,
Ras Al Khaimah & Fujairah free zone Authorities. |
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A.) RAK FREEZONE
With access to over 2 billion consumers and awarded Best Emerging Free Zone for
the second year running, Ras Al khaimah Free Trade Zone (RAKFTZ) has already developed
into a world-class business hub with state-of-the-art infrastructure and hi-tech
facilities for industrial growth and development in less than ten years of its inception.
The Free Zone, offers customized support services to its investors. It is one of
the most cost-effective free zones in the region and most importantly, it offers
an absolutely trouble-free, customer-friendly environment, which is very important
for the success of any enterprise
B.) HAMRIYA FREEZONE
Hamriyah Free Zone is located in the emirate of Sharjah. Sharjah is the only one
of seven emirates with ports on the Arabian Gulfs west and east coasts with direct
access to the Indian Ocean, and an International Airport. Sharjah offers extensive
transportation links to the Gulf states, Indian subcontinent and the emerging markets
in Asian and African nations. These services are made possible by the Sharjah link.
Hamriyah Free Zone is challenged to provide competitive incentives and unique opportunities
to establish businesses in a tax free environment with full company ownership, exemptions
from all commercial levies and repatriation of capital and profits. The free zone
manages an area of approximately 22 million square meters of prime industrial and
commercial land and a 14 meter deep water port which includes scope for expansion.
B.)
JEBEL ALI FREEZONE
As the leading business hub of the Middle East, JAFZA focuses on long term customer
relationships. It fosters alliances with global investors by providing them world
class infrastructure supported with quality driven value added services and incentives,
enabling them to capitalize on huge business opportunities in the region, in the
most efficient way. JAFZA aspires to be the international business hub of the Middle
East. JAFZA is today one of the strongest brands in the region and stands for excellence,
innovation and the power of partnership. It is the first free zone in the world
to win ISO certification in 1996.
B.)
DUBAI AIRPORT FREEZONE
Dubai Airport Free Zone was established in 1996 as a part of the Dubai Governments
strategic plan to be an investment driven economy. Dubai Airport Free Zone is one
of the fastest growing free zones in the region and is currently home to over 1300
companies from various industry sectors, including aviation industry, pharmaceutical
products, logistics & freight, jewelry, IT and mobile phones accessories. International
investors can enjoy dynamic growth through Dubai Airport Free Zones excellent incentive
packages including 100% tax exemption, 100% foreign ownership and no currency restrictions.
Located strategically within the boundaries of Dubai International Airport, Dubai
Airport Free Zone offers a range of modern facilities with a state-of-the art infrastructure.
B.)
DUBAI MULTI COMMODITIES FREEZONE (DMCC)
The Dubai Multi Commodities Centre (DMCC) is a strategic initiative of the Dubai
government created to establish a commodity market place in Dubai. Rated A by
Standard & Poors, it provides industry-specific market infrastructure and a
full range of facilities for the gold & precious metals, diamonds & coloured
stones, energy and other commodities industries. The Dubai Multi Commodities Centre
(DMCC) is a strategic initiative of the Dubai government created to establish a
commodity market place in Dubai. Rated A by Standard & Poors, it provides
industry-specific market infrastructure and a full range of facilities for the gold
& precious metals, diamonds & coloured stones, energy and other commodities
industries. Launched in 2002, this strategic government initiative has been established
to support the specific needs of its core segments Gold & Precious Metals,
Diamonds & Coloured Stones, Energy and Other Commodities industries.
Advantages & Disadvantages of Free Zone Setups.
Advantages:
- 100% ownership of the company.
- Directly engaged with the free zone authority.( No government Influence)
- Local sponsor is not required as Main Land companies.
- A one stop shop facility for processing of all documentation including immigration, registration and licensing
- No foreign exchange controls or barriers to entry No restrictions on capital repatriation
- Preferential freight rates & Regulated environment
- Total tax and duty exemption.
Disadvantages:
- Is not permitted to have operations with the main land companies and with the authorities.
- Limitations in visas and other business infrastructure.
- Audit requirement is a mandatory in free zone setup on each financial year.
- Company cannot rent mainland premises.
- Company cannot carry on the activities like banking, insurance etc…
- Limitations to get employment visas
- Office should be rented in Free zone but not in other areas legally.
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