What are Free Zones? Free trade zones are areas in the United Arab Emirates (UAE) that have a special tax, customs and imports regime. These zones work under their own regulations. There are several UAE free zones across Dubai, Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al Khaimah (RAK) and Umm Al Quwain. Each free zone in the UAE cater to a specific type of business category. Business owners who want full ownership can choose a license and location in one of the many free zones in the UAE. These areas were created to encourage foreign investors with easier start-up process, labour and immigration procedures. Each zone has its own rules and governed by its own authority. Each Free Zone is designed around one or more business industry categories and only offers licenses to companies within those categories. An independent Free Zone Authority (FZA) governs each free zone, and is the agency responsible for issuing FTZ operating licenses and assisting companies with establishing their business in the FTZ

What are the advantages of opening a Free Zone License?

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• 100% foreign ownership of the enterprise

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• 100% import and export tax exemptions

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• 100% repatriation of capital and profits

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• Corporate tax exemptions for up to 50 years

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• Documentation is less and more suited to foreign investors.

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• No personal income taxes

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• Assistance with labor recruitment, and additional support services, such as sponsorship and housing.

Each Free Zone has its own rules which governs various aspects of company incorporation and carrying out of business.

List of various Free Zones in UAE

There are more than 40 Free Zones operating in UAE, some of those are listed below

Abu Dhabi

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• Abu Dhabi Airport Free Zone (ADAFZ)

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• Abu Dhabi Global Markets (ADGM)

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• ADPC – Khalifa Port and Industrial Zone (KPIZ)

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• Twofour54

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• Industrial City of Abu Dhabi

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• Higher Corporation for Specialized Economic Zones

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• Masdar City Free Zone

Dubai

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• Dubai Academic City

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• Dubai Airport Free Zone

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• Dubai Car and Automotive City Free Zone (DUCAMZ)

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• Dubai Design District

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• Dubai Gold and Diamond Park

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• Dubai Healthcare City

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• Dubai Industrial City (DIC)

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• Dubai International Academic City

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• Dubai International Financial Centre

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• Dubai Internet City (DIC)

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• Dubai Knowledge Village

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• Dubai Logistics City

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• Dubai Media City

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• Dubai Multi Commodities Centre or Jumeirah Lakes Towers Free Zone

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• Dubai Outsource Zone

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• Dubai Silicon Oasis

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• Dubai Studio City

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• Dubai Techno Park

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• Dubai Production City

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• Jebel Ali Free Zone

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• International Humanitarian City

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• Energy and Environment Park

Sharjah

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• Hamriyah Free Zone

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• Sharjah Airport International Free Zone

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• U.S.A. Regional Trade Center (USARTC) Free Zone

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• Sharjah Media City Free Zone (SHAMS)

Ajman

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• Ajman Free Zone

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• Ajman Media City Free Zone

Ras Al Khaimah

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• Ras Al Khaimah Economic Zone (RAKEZ)

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• Ras Al Khaimah Investment Authority

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• Ras Al Khaimah Free Trade Zone

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• Ras Al Khaimah Media Free Zone

Fujairah

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• Fujairah Free Zone

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• Fujairah Creative City

Umm Al Quwain

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• Umm Al Quwain Free Trade Zone (UAQFTZ)

How Premier Brains can help?

Premier Brains team is experts in field of advisory, accounting and auditing and can help identify which one suits the best. Further most of these freezones have a requirement to have the accounts audited on an annual basis and Premier Brains can act as a point of contact and assist in getting accounts audited and filed on a timely basis.

What makes Premier Brains stand out is by going an extra mile in advising our clients in improving there internal control environment and consult in helping our clients solve complex problems financially and strategically.

Feel free to contact us and drop a friendly note at contact us.

Note:

Premier Brains or the author is not responsible for any changed or updated information on UAE law, kindly contact the free zones or government authorities for any individual queries.

This document is only for information purposes and should not be construed as an advice. It does not necessarily covers each aspect of the topic with which it deals. You should not act upon the contents of this document without receiving formal advice on your particular circumstances.