• October 20, 2022
  • Posted by: Philip Smith
  • Category: Company Setup
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Setting Up a Business in Dubai – One Free Zone Passport Initiative

Setting up a business in a Dubai free zone is something many entrepreneurs consider during their time of conducting business in the UAE. If you are one of these entrepreneurs or businessmen/women, there are some recent developments that you should be aware of as they can have a significant impact on your business.

The One Free Zone Passport initiative is something the Dubai Free Zones Council has already begun working on. The initiative was put in place to allow companies operating in a free zone to operate in other free zones in Dubai without needing to apply for a separate license. A licensed free zone company would, therefore, be able to operate in multiple free zones without the need for additional licenses, which would significantly reduce the economic implications of conducting business in the UAE.

“The council members also agreed to meet with representatives of the Dubai Land Department and the Supreme Legislation Committee to discuss the possibility of exempting free zone companies from registering leased property” The “One Free Zone Passport Initiative” is symbolic of the Dubai Free Zone Council’s aspiration to position Dubai as a “regional driver of sustainable economic growth, as well as a reference point for forecasting the future in various fields, including education and innovation, while reflecting the outcomes of the Fourth Industrial Revolution” (Dubai Chamber).

Through the emergence of more favorable economic systems as the one mentioned above, the DFZ Council will essentially be improving the ease of doing business in and across the many free zones in Dubai as well as boost liquidity for companies already operating in said free zones. It is believed that this initiative will not be stand-alone, especially as the authorities are carefully examining Dubai’s geo-economic map to include measures that are not only sustainable but also more attractive from an investment standpoint and far more competitive from a business standpoint.

What is the difference between a free zone and a regular company?

According to Commercial Law in the UAE, a foreign investor can own only up to 49% of the shares in an LLC registered in mainland Dubai. On the other hand, free zones permit 100% ownership of a company by foreign investors; that is why they are quite popular amongst ex-pats and foreign business people alike.

Want to learn more about how to set up a free zone in Dubai? Contact us now at info@yourpoadubai.com or call +971 4 338 3032.



Author: Philip Smith
Philip Smith, LL.B. (Hons.): Founder & Principal of Your POA – The Leading Power of Attorney Company in Dubai and the UAE

Experience the expertise of Philip Smith, the highly-regarded Founder and Principal of Your POA, the premier Power of Attorney company in Dubai and the UAE. Boasting an exceptional legal background, Philip has earned a reputation for his outstanding market knowledge, trustworthiness, and discretion. As an authoritative expert in UAE property matters, strategic advisory, and corporate services, he has advised a diverse range of high-profile clients, adeptly safeguarding their interests while accomplishing their individual objectives....

Philip holds an LL.B. (Hons.) degree and possesses extensive hands-on experience in the UAE. His comprehensive skillset covers property conveyancing, power of attorney representation, private client management, strategic advisory services, business consultancy services, corporate service operations, market entry, asset protection, legal matters, regulatory compliance, real estate, corporate structuring and re-structuring, company administration, and legacy planning.

In addition, Philip's expertise encompasses real estate acquisitions, structuring, ownership transfers, property management, portfolio and account management, corporate structuring and re-structuring, company administration, legacy planning, and asset protection for entrepreneurs and growth companies. This impressive range of skills ensures his clients receive the highest standard of service, tailored to their specific needs.

As the leader of Your POA, Philip directs a dedicated team of professionals committed to upholding his values of excellence and discretion. Together, they have solidified Your POA's position as the top Power of Attorney company in Dubai and the UAE, offering customised services that consistently exceed client expectations.

Place your trust in the proven expertise and impeccable reputation of Philip Smith and the team at Your POA. With an unwavering commitment to understanding and achieving your objectives, and a discreet approach that prioritises the protection of your interests, you can be confident that your affairs are in the hands of seasoned professionals. Philip's wealth of experience and in-depth market knowledge make him the ideal partner for navigating the intricacies of the UAE property and corporate services landscape. Read more