Abu Dhabi is one of the most exciting, highly populated cities in the United Arab Emirates. Real estate, trade, transportation and tourism form an essential part of the economy and as one of the fastest-growing in the world, opportunities in Dubai are limitless.
The Free Zone Council will start with proposing general policies for free zones and submitting them to the Executive Council, and creating an integrated database for the affairs of free zones, in coordination with relevant entities, according to the statement.
The Free Zone Council will have the authority to approve free zones’ non-financial key performance indicators along with Added. The Council will start by establishing a system to conduct its meetings and vote on decisions.
Operational entities within the free zones are to co-operate with the council and provide it with all required information to help it establish the overall policy for the emirate’s free zones.
His Highness highlighted that the near future requires an increased level of coordination and teamwork among all free zones to build a favourable economic framework that serves the strategic sectors of Dubai, and position it as a preferred destination for foreign investment and business set-up.
All free zones’ operational entities are to commit to cooperating with the Council and to providing all required information and data related to the authorizations of the Council, including the policies and strategic plans for each free zone, in order to establish the overall policy for Abu Dhabi’s free zones. The decision to set up a free zone council was based on efforts to keep pace with the rapid development of free zones and their importance in supporting economic growth, the statement added.
Setting up a business in a free zone is relatively easier. Free zone authorities require minimum paperwork and duration. Here are the key steps to set up a business in a free zone.
Nowadays, Abu Dhabi competes with major global financial centers in the world like New York, London, Hong Kong, and Singapore. What sets Abu Dhabi apart from these well-established entities is its open culture and tolerance towards other cultures, races, nations, and religions. Because of which many foreign businesses and expatriates choose it as their place of residence and as a base of their business operations.
Whatever your financial objectives are, bring them to us and we make sure you achieve them. Whether you're looking to pay less tax, wish to establish UAE company formation, bank account, safeguard business, set up a UAE virtual office, or become immune to over-regulation, it's almost certain that your aspirations can be fulfilled.
We look forward to doing business with you!