Page 415 - Sustainable Cities and Communities Design Handbook

388 Sustainable Cities and Communities Design Handbook

19. Dubai Biotech Research Park
20. Dubai Auto Zone
21. Gold and Diamond Park
22. Dubai Healthcare City
23. Dubai Intl Financial Centre
24. Dubai Logistics City
25. Dubai Maritime City
26. Dubai Flower Centre
27. Intl Humanitarian City
28. Sharjah Airport Free Zone
29. Hamriyah Free Zone
30. Ahmed Bin Rashid FZ
31. Ajman Free Zone Authority
32. RAK Investment Authority
33. RAK Free Zone
34. RAK Maritime City
35. Fujairah Free Zone
36. Fujairah Creative City

The companies operating in the FTZs are treated as being offshore or
outside the UAE for legal purposes. The major advantages in setting up in a
free zone are:
l 100% foreign ownership of the enterprise,
l 100% import and export tax exemptions,
l 100% repatriation of capital and profits,
l exemption from all import and export duties,
l corporate tax exemptions for up to 50 years,
l no personal income taxes,
l assistance with labor recruitment,
l inexpensive energy and workforce,
l additional support services (e.g., administration, sponsorship and housing),
l companies at FTZ can operate 24 h a day.

The FTZ also has some limitations:
l a company set up in the FTZ is not allowed to trade directly with the UAE
market,
l a company can undertake the local business only through the locally
appointed distributors,
l a custom duty of 5% is applicable for the local business. 37

37. http://www.polishbusinessgroupuae.com/page.aspx?l¼1&pg¼8&md¼pagedetail.