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PART THREE: PROSPECTIVE SECTORS FOR INVESTMENT in the UAE

PART THREE: PROSPECTIVE SECTORS FOR INVESTMENT in the UAE. 3.5 UAE Free Trade Zones – Attributes and Rules, Services, Investment, and Manufacturing Ch 15. Free Trade Zones.

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PART THREE: PROSPECTIVE SECTORS FOR INVESTMENT in the UAE

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  1. PART THREE: PROSPECTIVE SECTORS FOR INVESTMENTin the UAE 3.5 UAE Free Trade Zones – Attributes and Rules, Services, Investment, and Manufacturing Ch 15

  2. Free Trade Zones Free Trade Zones (FTZ) or export processing zone (EPZ), also called foreign-trade zone, formerly free port, is an area within which goods may be landed, handled, manufactured or reconfigured, and re-exported without the intervention of the customs authorities. Only when the goods are moved to consumers within the country in which the zone is located do they become subject to the prevailing customs duties.

  3. Free Trade Zones The world's first Free Trade Zone was established in Shannon, Ireland (Shannon Free Zone). This was an attempt by the Irish Government to promote employment within a rural area, make use of a small regional airport and generate revenue for the Irish economy. It was hugely successful, and is still in operation today

  4. Free Trade Zones Most FTZs located in developing countries: Brazil, Colombia, India, Indonesia, El Salvador, China, the Philippines, Malaysia, Bangladesh, Pakistan, Mexico, Costa Rica, Honduras, Guatemala, Kenya, Sri Lanka, and Madagascar have EPZ programs.In 1997, 93 countries had set up export processing zones employing 22.5 million people, and five years later, in 2003, EPZs in 116 countries employed 43 million people.

  5. Free Trade Zones Advantages : 1- Increased Productivity 2- Efficiency in Production 3- Lower Consumer Prices 4- New Job Creation Disadvantages 1- Reduction of Government Revenue 2- Smuggling 3- Possible Money Laundering 4- Customs Fraud

  6. Free Trade Zones in the UAE UAE Free Zones has always been eager to assist investors and businessmen in making a reality of their goal of experiencing the most talked about business freedom in the UAE Free zones. Services include, complete documentation for licensing, visiting various sites suited to clients' requirement, assisting in visa application & residence permit and banking.

  7. Free Trade Zones in the UAE UAE Free Zones Costs varies from Emirate to another: Dubai Only AED 50,000/- Sharjah Only AED 25,000/- RAK Only AED 15000

  8. Free Trade Zones in the UAE UAE Free Zones locations: Abu Dhabi, Dubai, others • Higher Corporation for Specialized Economic Zones • Abu Dhabi Global Market • Abu Dhabi Airport Free Zone • KhalifaIndustrial Zone • Khalifa Port and IndustrialZone • MasdarCity • Zones Corp • twofour54

  9. Free Trade Zones in the UAE • Dubai Airport Free zone • Dubai Silicon Oasis • Jebel Ali Free Zone • Dubai Multi Commodities Center • Dubai Internet City • Dubai Media City • Dubai Studio City • Dubai Academic City • Dubai Knowledge Village • Dubai Outsource Zone • Enpark • Intl Media Production Zone • Dubai Biotech Research Park • Dubai Auto Zone • Gold and Diamond Park • Dubai Healthcare City • Dubai Intl Financial Centre • Dubai Logistics City • Dubai Maritime City • Dubai Flower Centre • Intl Humanitarian City

  10. Free Trade Zones in the UAE • SharjahAirport Free Zone • HamriyahFree Zone • Ahmed Bin Rashid FZ (Umm Al Quwain free zone) • Ajman Free Zone Authority • RAK Investment Authority • RAK Free Zone • RAK Maritime City • Ras Al Khaimah Media Free Zone (RAKMFZ) • RAK Center for Business Excellence or RAK Training Center for Business Excellence. • RAK Education Zone. • RAK Financial Center. • RAK Industrial and Technology Park. • Fujairah Free Zone • Fujairah Creative City

  11. Free Trade Zones in the UAE UAE Free Zones Rules & Regulations: UAE allow 100% foreign ownership and have no taxes - usually guaranteed for 15 or 50 years. Each free zone has its own specific requirements regarding minimum office/warehouse space and permitted activities. Companies outside the free zones require a local (Emirati) sponsor and allow maximum 49% foreign ownership.

  12. Free Trade Zones in the UAE UAE Free Zones Rules & Regulations: The residence visa and the requirements in the free zones is much easier than visas requirements under the Ministry of Labor in the country.

  13. Free Trade Zones in the UAE UAE Free Zones and the UAE Economy: UAE Economy is open to foreign trade, and the re-export of products is one of the main income of the country.

  14. Dubai Customs Warehouse Trade In Millions AED Dubai Statistics Center 2012

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