Last year in 2019, the Dubai Free Zone council held its 12th meeting in which members discussed development initiatives to boost trade. This meeting resulted in an agreement according to which Dubai Government will take an initiative called “One Free Zone Passport” which aims to promote business and its opportunities and, make it easier for companies to work across multiple free zones in the emirate. It allows companies that are licensed in any of the free zones to operate in the other free zones of Dubai without requiring another license.
Free zone areas are exempted from:
Moreover, there are some leverages that the business owner can have:
The United Arab Emirates consists of 24 free zones across Dubai, Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al-Khaimah and Umm al-Quwain including Jebel Ali Free Zone, Dubai International Financial Centre, Dubai Creative Clusters Authority, Dubai Airport Freezone, Dubai Multi Commodities Centre, Dubai South, Dubai Silicon Oasis Authority, Dubai World Trade Centre, Dubai Healthcare City, Meydan Free Zone, and International Humanitarian City.
Starting a business in free zones of Dubai can provide many opportunities and these free zones can prove to be very economical along with many other friendly initiatives taken. All of these things can make the trading process a lot easier.
Before the free zones were initiated many problems were faced while setting up any business in Dubai in the mainland. Following enlisted were major problems that were faced before the agreement of the free zone areas:
The free zones have affected business activities all across Dubai. It has proven to be revolutionary in the business field. Following are the aspects in which it has proved to be beneficial:
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