Around 2 in Dubai was a pioneering action made by the government in 1985 that revolutionised industrial regulation across the UAE. Unlike the other Emirates, Meydan free zone aggressively recruited international investors and provided them with various off-track inducements.

This specific jurisdiction has been vital in diversifying the market sense and generating a benchmark over the nation’s long-endured norms in recent years. As a consequence of Dubai’s successful hypothesis in terms of the many Meydan free zone the city presents, the other Emirates also joined the league. The plan was designed such that each key business sector had its jurisdiction, maximising the enabling of each division.

Apart from that, the advantages of taxes, total ownership, and fewer restrictions made it more tempting for entrepreneurs to contemplate establishing a firm in Dubai. Furthermore, the development agencies ensured that the procedural components of establishing a Meydan free zone were convincing. Whether it’s a free zone company registration in Dubai or deciding on a specified region for your business kind, the Dubai government has you covered by developing user-friendly and online processes.

Segregation in a Free Zone Business Environment:

• Free Zone Corporation

• Establishment of a Free Zone

• Branch Office / Branch Firm

The following are some of the UAE’s Free Trade Zones:

• Free Zone of Jebel Ali

• Multi-Modal Corridor in Dubai

• Media City in Dubai

• Internet City in Dubai

• Free Zone at Dubai Airport

• International Financial Centre of Dubai

• The Dubai Silicon Oasis and the Dubai Healthcare City

• Biotechnology and Research Park in Dubai

• Knowledge Village in Dubai

• International Academic City of Dubai

• Humanitarian City International

• Outsourcing Zone in Dubai

• Maritime City of Dubai

• Logistics City in Dubai

• Dubai Cars & Automotive Zone, EnPark

• International Media Production Zone, Dubai Sports City

• Dubai Creative Clusters Authority and Dubai Studio City

The Benefits and Drawbacks of a Free Trade Zone

According to some accounts, the Meydan free zone is what helped Dubai become the UAE’s business centre. There are several grounds to assume this, including an increase in the number of free zone business registrations in Dubai and an increase in the number of international corporations clamouring to create a firm. However, this area is likewise constrained by a set of Pros and Cons. Continue reading!

Pros:

• Removes the need to create a partnership with a UAE citizen.

• Provides entire ownership since investors may own 100 percent of the firm.

• Special attention to appointments, investments, and processes.

• Freedom in the company’s activities and travels.

• Taxation, customs, currency control, and other advantages

• Administrative services may be processed via a centralised system.

• There are no limits on participating in more than one activity.

Cons:

• Companies operating in Free Trade Zones are barred from engaging in any commercial activity inside the nation.

• These businesses are only permitted to conduct international trade, limiting their chances for growth.

• They are mostly located in remote places, although transportation and communication are improving.

Despite the fact that there are minimal restrictions, the increased interest in Meydan free zone persists. The Dubai administration intends to establish additional similar jurisdictions in the coming years.

Charles Marshall