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The Dubai government began the country’s cheapest free zone in UAE and brand protection Dubai some 20 years ago with the goal of capitalising on the United Arab Emirates and changing the economic structure. Dubai’s … Read More
The Dubai government began the country’s cheapest free zone in UAE and brand protection Dubai some 20 years ago with the goal of capitalising on the United Arab Emirates and changing the economic structure. Dubai’s Jebel Ali Free Trade Zone was a revolutionary move made by the government in 1985 to change industrial controls around the whole of the UAE.
Dubai invited international investors and provided them with many off-track incentives, as did some in the Emirates.
The spectacular growth of the UAE attracted companies that wanted to establish a base in the area, particularly in Dubai. However, 100 percent ownership is only assured where the business is founded in a Free Zone, which does not always include a local partner.
The government has ensured that no income tax will be available for up to 50 years.
A region or land with special tax, customs or import regulations is specifically specified in the Free Zone. These are unique investment models that allow enterprises that are free of barriers and regulated by the laws of the country concerned.
Registration requires documents, including application form, copies of a passport, manager’s CV, business plan and financial history, that must be notarized in the respective countries. The advantages of an enterprise in the Free Zone include 100% foreign ownership, 100% tax deduction, 100% capital and income repatriation, non-devises and revolving visas for 3 years of residency.
It was a Free Trade Zone which has made Dubai a commercial centre for the UAE, according to many sources. There is every basis for believing in the escalation of international firms calling to create a business and the increase in registration for free-area companies in Dubai. But it is also linked to a series of pros and cons. Keep Going on!
Dubai has many Free Zones, and the most suitable form of operation depends on the nature of business including intra-trading, e-commerce, broadcasting and printing, cars and so on. For eg, warehousing and access to sea porters should also take into account the form of facilities and services. The market technology in Dubai is highly modern and the majority of operations, including Internet City, Media City, Healthcare City, have unique cities.