The United Arab Emirates (UAE) intends to build up itself as a worldwide industry center point. It is anticipated as a stage pulling in global financial specialists worldwide to put resources into various business divisions. By providing a world-class infrastructure and organized transportation network system, UAE moves forward towards its ultimate goal. The Economic Zones World (EZW) is a global designer that aims to build strong and robust infrastructure and road networks. The company was established in the year 2006 and is headquartered in Dubai, the vibrant city of United Arab Emirates (UAE). EZW mainly constructs the economic zones, tech parks, with an aim to establish a strong, sound road network along with the core industries. Ease of transportation is the main focus so as to operate the business activities in a hassle-free way and maintain a sustainable society. The EZW is held by the Dubai World Group. The ultimate aim is to expand Dubai dynamically and establish itself as a platform for global businesses in multiple sectors and to gain international investors to contribute towards the global economy. The company has expanded its reach and have successfully covered Asia, Africa, the Middle East and the American market.
Benefits of Setting Up Your Company in EZW
The EZW free trade zone allows investors to avail certain benefits for setting up their business here. These are:
- Minimal renewal fees
- No tax burden
- 100% foreign ownership
- Provision to own a local bank account
- No restrictions for carrying out more than one business
- Option to wind up the company at any point in time
- Flexibility to own property
We can see that the Economic Zones World provides a fertile environment for setting up business parks, tech parks and at the same time it offers a platform to international investors as well to set up their businesses in these zones. This goes about as a stunner for many financial specialists who need to increase a worldwide introduction. Monetary World Zone centers around building an ideal organization framework to back out the business exercises around the world.
Types of Companies in EZW
A company in EZW can take one of the following business forms:
1. Free Zone Establishment (FZE)
An FZE can be formed by a sole proprietorship or corporate shareholders.
2. Free Zone Company (FZCO)
An FZCO requires a minimum of 2 shareholders for the company to incorporate.
3. Branch Office
Licenses Provided in EZW
The licenses provided for training under the free economic zone have been divided into categories based on the nature of the business. These include:
1. Trading License
Mainly used for the import/export of goods.
2. General License
Used for goods that requires special permissions.
3. Service License
Issued to companies that deal with consultancy, medical, accountancy, etc.
4. Industrial License
Mainly used for manufacturing, processing, packaging companies.
Business in EZW
EZW focuses on diverse sectors and spans multiple business segment. The expansion of EZW business reached to an extent wherein they commenced including major names in their business portfolio:
- Jebel Ali Free Trade Zone Authority (JAFZA)
- Dubai Techno Park
- Dubai Auto Zone (an automobile hub developed to re-position the used cars in the Asian and African market)