One of the richest and most inviting places for investors to travel to in the Middle East is Dubai. It is the perfect location for investments because of its close proximity to Asia and other countries. Dubai has a number of free zones that offer benefits for growing enterprises. Dubai has thus developed into a safe haven for both established international corporations and burgeoning startups. Let’s learn more about these free zones in Dubai and their amenities.
What is a free zone in Dubai?
Free zones, also referred to as free trading zones, serve as business areas in Dubai where businesses operating there are exempt from all forms of taxes, notably income tax, corporate tax, value-added tax (VAT), and customs. Ownership of a firm is 100% for owners in Dubai’s free zone districts.
The purpose of these zones is to boost the city’s economy and attract foreign investment. The free zone model was initially used in the United Arab Emirates by Dubai.
Why set up a business in ant of the free trade zones in Dubai
Establishing a business in a free zone in Dubai has several benefits. One of the largest is complete tax exemption and 100% corporate ownership. For foreign companies and entrepreneurs looking to use the UAE as a regional hub for production or distribution, the country offers great tax incentives.
Business owners have a profitable investment opportunity in these special economic zones in Dubai because of the complete tax exemption and 100% ownership.
Owners of businesses need to be aware that registering for VAT in the UAE requires the appropriate permissions and approvals. A corporation must meet the following requirements in order to register in a Dubai free zone:
- Selecting a trade name
- obtaining a business licence
- Purchasing or leasing an office
- Getting more preapprovals
List of Rree zones in Dubai
Do you want to know how many free zones Dubai has? The emirate has at present around 25 free zones, each serving a different set of companies and sectors. They fall into different groups, according to the official UAE government website. Here is a brief overview of Dubai’s free zone list.
1. Dubai Creative Clusters Authority (DCCA)
The city’s creative and knowledge-based industry development is governed by the DCCA, which is now the Dubai Development Authority.
Top Dubai free zone areas covered by the DCCA are as follows:
- Internet City of Dubai
- Media City of Dubai
- Production City of Dubai
- Studio City in Dubai
- Outsource City of Dubai
- Knowledge Park in Dubai
- International Academic City of Dubai
- Science Park in Dubai
- Dubai Design District (d3)
2. Dubai Multi Commodities Centre Authority (DMCC)
The centre of the world’s commodities trading is the DMCC Authority, which was founded in 2002. The following Dubai free zones are part of the DMCC:
- Towers at Jumeirah Lakes
3. Other Dubai Free Zones
These free trade zones in Dubai deal with a wide range of businesses, from manufacturing and health care to gold and jewellery:
- Authority of the Dubai Airport Free Zone (DAFZA)
- Industrial Park DAFZA
- Silicon Oasis in Dubai
- Healthcare City of Dubai
- Global Aid City
- World Trade Centre in Dubai
- The Maritime City of Dubai
- Park of Gold and Diamonds
- South Dubai
- Outsource City of Dubai
- International Financial Centre of Dubai
- Meydan Unified Zone
- TechnoPark, National Industries Park
- Dubai City (Free Zone DCC)
- Expo City of Dubai
- Dubai Auto Zone
Here is a comprehensive list of all the free zone areas in Dubai.
