About Dubai Development Board
Dubai Development Board: Setting Up Your Business in Dubai's Free Zones
Dubai is a city that has been attracting businesses from all over the world for decades. With its strategic location, world-class infrastructure, and business-friendly policies, it has become a hub for international trade and commerce. One of the key factors that have contributed to Dubai's success as a business destination is its free zones. These are designated areas where companies can set up their operations with unique benefits such as tax exemptions, industry-specific facilities, and access to like-minded communities of international businesses.
The Dubai Development Board (DDB) is the government agency responsible for overseeing the development of these free zones. It was established in 2002 with the aim of promoting economic growth and diversification by attracting foreign investment into Dubai's various sectors.
One of the main advantages of setting up your business in one of DDB's free zones is tax exemption. Companies operating within these areas are exempt from corporate taxes for up to 50 years. This means that you can reinvest your profits back into your business without having to worry about paying hefty taxes.
Another benefit is access to industry-specific facilities such as warehouses, offices, and manufacturing plants. These facilities are designed to meet the needs of different industries such as logistics, healthcare, technology, media production among others.
In addition to these benefits, companies operating within DDB's free zones also have access to a like-minded community of international businesses. This provides opportunities for networking and collaboration which can lead to new partnerships and increased market share.
Setting up your business in one of DDB's free zones is also relatively easy compared to other jurisdictions around the world. The process involves submitting an application form along with supporting documents such as passport copies and proof of address.
Once approved by DDB authorities you will be issued with a license allowing you to operate within one or more specific sectors depending on your chosen activity type(s). You will also be required to pay an annual fee which varies depending on your chosen activity type(s).
Overall setting up your business at any one or more than one Free Zone under Dubai Development Board offers many advantages including:
1) Tax Exemptions
2) Industry Specific Facilities
3) Access To Like-Minded Community Of International Businesses
4) Easy Setup Process
In conclusion if you're looking for an ideal location where you can set up or expand your existing company then look no further than Dubai Development Board’s Free Zones! With its strategic location at crossroads between East & West coupled with state-of-the-art infrastructure plus numerous incentives offered by government agencies like DDB make it an attractive destination not only for entrepreneurs but also investors seeking high returns on their investments while enjoying hassle-free operations!
dda.gov.ae
