In order to stimulate international trade within the territory of the UAE, a number of zones have been created for the promotion of exports and the opening of the national economy to the outside world.
Currently, within the territory of the UAE there are more than 36 free zones, 25 of which are active in the Emirate of Dubai alone. Some allow the performance of any economic or commercial activity, others, however, only allow certain specific economic activities. Each free zone is managed by an independent Free Zone Authority -which is responsible for issuing individual licenses and authorizations- and is ruled by its own internal regulation governing the procedures and the requirements necessary to operate there.
Free zones offer investors a number of incentives including, 100% foreign ownership, the absence of corporate tax for the first 15 years after formation, total freedom to repatriate capital and income, as well as the elimination of personal income tax. Among the main free zones in Dubai there are: Jebel Ali Free Zone – JAFZA, Dubai Airport Free Zone, Dubai Internet City, Dubai Media City, Dubai Gold and Diamond Park, Dubai Cars and Automotive Zone (DUCAMZ), Dubai Knowledge Village, Dubai Multi Commodities Centre – DMCC, Dubai Maritime City, Dubai Aid City, Techno Park, Dubai Silicon Oasis, Dubai Flower Centre, Dubai Logistics City, Dubai Outsource Zone, Dubai Biotechnology and Research Park, Dubai Studio City and International Media Production Zone.
Innovative sectorial Free Zones worth mentioning are: Dubai International Financial Centre DIFC (Financial Free Zone), Dubai Industrial City – DIC and Dubai Health Care City (member of Dubai Holding). The DIFC initiative aims at transforming Dubai into a financial platform of first choice on the world market, attracting the best financial institutions, companies and service providers to operate in DIFC, contributing at the same time to the economic growth of the Gulf region and facilitating the privatization and market liberalization process. DHCC intends to provide support services and health education of the highest order for patients from abroad, visiting doctors, conference attendees, internists, post graduates and nurses. The structure of the DHCC is highly integrated with the University of Medicine which forms its core together with the University Specialty Hospital, the Medical School & Nursing School and the Life Science Research Center.
Among the free zones that are currently being set up we should mention: Dubai Design Centre, Dubai Auto Zone, Dubai Energy City and Dubai Academic City.
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