02 Apr Free zones in Dubai and their relationship to investment and investors
Free zones in Dubai and their relationship to investment and investors. This is what has caught the attention of people and entrepreneurs in particular in the recent period. It is noticeable that free zones in the UAE support the national economy and encourage investment in an unprecedented way. These areas provided many facilities to investors and were able to attract them from all parts of the world. The city of Dubai in particular is the first destination that entrepreneurs seek in our time. The success rate of investment projects there is very high. Free zones have helped increase the rate of national economic competition and diversify sources of income, in addition to transferring experiences, skills and knowledge. Follow us to know more information:
Free zones in Dubai and their relationship to investment and investors
Perhaps you would like to get acquainted with the free zones in Dubai and wonder about their relationship to the prosperity of investment and attracting investors. Where the UAE contains four types of free zones, Including comprehensive free zones, which are characterized by the diversity of investment projects, It includes the commercial and industrial sectors together. The second type of free zones are specialized free zones and neighborhoods that include specific industries. The third type specializes only in commercial activities. The fourth and final type specializes in services. As for the role of the free zones in Dubai with investment and entrepreneurs, the free zones provided many incentives to investors, which encouraged them to invest. These incentives are as follows:
- Allowing the foreign consumer to fully own the project without the need for local partners
- There are no restrictions or complications imposed in obtaining project permits.
- The possibility of transferring all their profits and money to their country in addition to being completely exempt from business tax for a period of up to 50 years in some cases.
- Not imposing customs duties on them.
- Exemption from personal income tax.
- Providing stores and warehouses to store the tools and supplies needed by the project.
The role of free zones in serving development and supporting investment
Experts believe that the free zones in Dubai and the UAE in general, It has played an important and vital role in serving investment and economic development there. Dubai is a global and regional center in trade and financial services. In the city of Dubai alone, there are 23 free zones out of 37 free zones in the UAE. The free zones located in Dubai alone occupy about 39% of the UAE’s exports. 30% of the total domestic production. In addition, these areas are a major source of foreign investment, as they include about 38,000 companies. These companies have about 330,000 employees.
It is worth noting that there is a close and strong relationship between the rapid and remarkable growth in the free zones in Dubai and the economic boom that the UAE has been able to achieve in recent years. These areas have greatly expanded to include media, information technology, and the financial industry. It directly caused the popularity of investment projects in Dubai and increased demand for them. The demand for real estate has also increased. This is due to the need of its workers for housing.
In short, we say that Dubai is the best place in the world where you can invest your money. The success of investment projects and companies there is guaranteed. There are many successful experiences of entrepreneurs out there. This is due to the facilities provided by the state for investment. In addition to the diversity of fields and the multiplicity of types of projects from which you can choose the nature of your project.
In conclusion, we say that establishing a successful project in Dubai requires many procedures. If you decide to start already, the best person to take this task on your behalf and help you in clearing your procedures are the experts of Itqan Company, They contributed to the success of many projects before that.
Contact us today and get a free consultation to implement all your business plans!