Freezones are a popular avenue for foreign entities to access the UAE market. Freezones were developed by the UAE to promote trade and export. This is not a new phenomenon in the international community and as a concept has proven very successful globally. Freezones offer excellent infrastructure,, asset protection, and tax incentives.
There are over 40 free zones in the United Arab Emirates that play a vital role in the country’s economy facilitating trade and allowing 100% foreign ownership of companies located in each free zone. The free zones cover all major sectors of the economy including finance, professional and financial services, general trading, healthcare, education, advertising, automotive trading, commodities, media and import/export. It is however important to note that each freezone has its own advantages and limitations, and therefore choosing the most appropriate freezone requires due diligence to ensure
The main benefits of establishing a freezone eneity include:
- 0% income Tax;
- No custom duty for import/ export;
- 100% foreign ownership permitted;
- Shareholders and employees eligible for UAE residence visa;
- Easy recruitment procedure.
GCC Solutions advises clients on market entry and can help with the assessment of which free zone is best suited to their business needs. We review our clients’ business model and provide bespoke solutions tailored to their particular industry sector to ensure seamless market entry.