- What are Free Zones
- Free zones are tax-exempt regions with minimal regulations for business operations
- UAE has 46 free zones ranging from few acres to entire cities
- Types of Free Zones
- SEZs focus on foreign investment and economic growth
- FTZs aim to boost global trade with lower tariffs
- EPZs support export-focused companies
- BZs offer lower fees and rent rates
- IZs promote manufacturing with lower taxes and electricity costs
- Benefits
- Temporary tax exemptions for businesses
- Access to low-cost labor
- Market access to domestic and foreign markets
- Beneficial regulatory environment
- Infrastructure development opportunities
- Major Free Zones
- Dubai has over 28 free zones including Gold and Diamond Park
- Abu Dhabi features largest industrial zone operator
- Sharjah offers second-largest industrial zone
- Ras Al Khaimah is UAE's largest free zone
- Fujairah has largest oil storage space in GCC