Post 2002 UAE and Dubai in specific has witnessed incredible growth throughout all sectors of the economy. The government is constantly working to improve its commercial transparency and introduce dynamic regulations that aid the formation of small and medium enterprises (SMEs) and have the ability to react to global financial challenges.
Whilst UAE has huge oil reserves, Dubai’s economy is no longer reliant on oil, but is more diversified, relying heavily on trade, services and finance sectors.
With its central geographic location between Asian and European markets, Dubai has been successful in establishing itself as an integral part of the global trade mechanism. Its central location has also allowed Dubai to become a popular and accessible tourist destination.
Dubai’s many free zones are another aspect of the city’s growing economy. Established as a way of attracting more foreign investment, free zones adhere to unique laws regarding ownership, taxation and labour. Unlike businesses in the rest of Dubai, which require at least 51% ownership by a UAE national, free zone businesses can have 100% foreign ownership.
Dubai, one of the seven regions which comprise the United Arab Emirates (UAE), is well known for its tax-free living. There is also nil property tax in Dubai. Furthermore, there are no restrictions on capital flows either.
‘Tax free country with ease of business and investor friendly laws’
U.A.E. offers incoming businesses all the advantages of a highly developed economy, whilst being tax free. The infrastructure and services match the highest international standards, facilitating efficiency, quality and service. Establishing a business in UAE is an excellent way to legitimately book international profits without paying any tax.
Benefits of being in the UAE free zones
- 100% foreign business ownership allowed
- Choice between off shore and on shore legal entities
- Various economic zones to choose from for establishing choice of company and business activity
- Zero personal and corporate tax rate
- No exchange controls with 100% capital repatriation and no currency restrictions
- Secure, regulated environment, licensing a full range of business activities
- Corporate shareholders permissible
- Unique industry clustering and purpose-built infrastructure
- Mixed use development in majority of the locations
- Strong infrastructure and investment opportunities
- Easy residency norms
|Dubai Free Zone
|Sharjah Free Zone
|Ajman Free Zone
|Ras Al Khaimah Free Zone