02 Apr What is the difference between the free and economic zone?
The free and economic zone in Dubai, each of the two zones has multiple advantages for all types of investment.
This is because it is one of the most important pillars of the economy in any country. Also, anyone can establish a company in the free zone. This is without the presence of a sponsor and 100% ownership of the project.
Also, the governments granted privileges to these areas, such as exemption from taxes and others, which we will mention through this article.
What is the difference between free and economic zone
As we mentioned earlier, these areas have several privileges that make them the perfect place for all investors.
- economic zone
economic zones are, An area specialized in supplying goods to all countries of the world.
It also works to create a large number of job opportunities for all qualifications from various fields.
And that region is not subject to all the laws that apply to other regions for investors.
Rather, it has a number of advantages, The most important of them:
- Tax exemption.
- Exemption from customs.
- Foreign investment ban.
- all commercial laws, Which applies to all economic fields.
- the free zone
much like economic zones, Being an area that works to reduce all the problems and obstacles that any investor may face.
The free zone also provides the infrastructure, Which helps the growth of all types of investment.
It also gives its investors some advantages as well, such as tax exemption, And removing all the problems that any company may face in the export process.
- What is the role of free and economic zones?
These areas are usually in several locations with high unemployment among the population.
Therefore, some governments grant these grants and privileges to investors in order for these sites to be an ideal place to provide job opportunities for this group of society.
and what is worth to mention, Free zones are more common in developing countries.
This is in addition to the fact that these regions are responsible for importing the raw materials needed by the various companies.
It is also the perfect place for export operations within the country.
- What are the free zones in the United Arab Emirates?
There are many free zones within the Emirates, As the total free zones in the country are forty-five.
distributed throughout the country, which is next:
- Dubai Airport Free Zone.
- Dubai Gold and Diamond Free Zone.
- Abu Dhabi Industrial City.
- Dubai Industrial City.
- Abu Dhabi Business City.
- Sharjah Airport Free Zone.
- Steps to establish a company in the free zones
There are several steps and procedures, Every investor must follow them to accomplish the mission of incorporation, You can also communicate with Itqan Company , which specializes in completing all these procedures at the hands of specialists in all kinds of economic fields.
- Choose the type of investment.
- Obtaining initial approvals.
- Obtaining a place to conduct the activity.
- Capital requirements are determined.
- The necessary plan to start the investment project.
- Obtaining the required trade licenses.
You can rely on Itqan Investment Services, as it is one of the most prominent companies that provide all services for businessmen.
We also have all the cadres who are familiar with all the necessary legal procedures regarding the establishment of companies in Dubai.
We also provide all investment advice for all types of investment through specialists in every field.
Our goal is for your company to reach the highest peaks of success. And we will always be your partners of excellence…
Now that we have known with you the difference between the free and economic zone, in addition to the benefits of those zones for countries and individuals.
We hope that the article has benefited all of its valued readers.
Contact us today and get a free consultation to implement all your business plans!