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Free trade zones FTZs are special economic zones set up with the objective of offering tax concessions and customs duty benefits to expatriate investors.
There are more than 30 Free Zones operating in Dubai. A Free Zone Authority offers business licenses to foreign-owned businesses. Each Free Zone is designed around one or more industry categories and only offers licenses e. Most of the free zones in Dubai broadly offer trading, services, and industrial licenses to investors looking to set up their businesses.
Free zones in Dubai are managed and operated by the relevant authority. As for other Free Zones in Dubai, the Dubai Multi Commodities Centre DMCC has 7, active registered companies as per , offers a retention rate of 94 percent, and estimates an application of over companies every year.
It contributes 12 percent to the GDP of Dubai and has an estimated a growth rate of 27 percent as per From Wikipedia, the free encyclopedia. This article has multiple issues. Please help improve it or discuss these issues on the talk page. Learn how and when to remove these template messages. This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources.
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