02.03.2013 Views

Free Zones in the UAE - PKF International

Free Zones in the UAE - PKF International

Free Zones in the UAE - PKF International

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

Office M<strong>in</strong> 50 sq.mts 2,300 per sq.mt<br />

Warehouse M<strong>in</strong> 366 sq.mts 600 per sq.mts<br />

Land M<strong>in</strong> 5,000 sq.mts 150 - 250 sq.mts approx<br />

FZE Registration Fee one time AED 10,000<br />

FZCO Registration Fee one time AED 15,000<br />

Type of License Cost <strong>in</strong> AED per annum<br />

Manufactur<strong>in</strong>g 15,000<br />

Trad<strong>in</strong>g 15,000<br />

Service 15,000<br />

• These figures are <strong>in</strong>dicative and subject to change.<br />

DUBAI INTERNATIONAL FINANCIAL CENTRE ( DIFC)<br />

The DIFC is <strong>the</strong> world’s newest <strong>in</strong>ternational f<strong>in</strong>ancial centre. The DIFC was <strong>in</strong>itiated<br />

by His Highness Sheikh Mohammed B<strong>in</strong> Rashid Al Maktoum, Vice-President and<br />

Prime M<strong>in</strong>ister of <strong>the</strong> <strong>UAE</strong> and Ruler of Dubai. He had <strong>the</strong> orig<strong>in</strong>al vision to create<br />

an <strong>in</strong>ternational f<strong>in</strong>ancial centre <strong>in</strong> Dubai. The DIFC is expected to make a strong<br />

contribution to <strong>the</strong> GDP growth of Dubai, as well as that of <strong>the</strong> United Arab Emirates and<br />

<strong>the</strong> region as a whole.<br />

The DIFC is an “onshore” f<strong>in</strong>ancial centre, offer<strong>in</strong>g a platform of choice for lead<strong>in</strong>g<br />

f<strong>in</strong>ancial <strong>in</strong>stitutions and service providers look<strong>in</strong>g to do bus<strong>in</strong>ess <strong>in</strong> <strong>the</strong> region. It<br />

has been established as part of <strong>the</strong> goal to position Dubai as a recognised hub for<br />

<strong>in</strong>stitutional f<strong>in</strong>ance, and as <strong>the</strong> regional gateway for capital and <strong>in</strong>vestment. It aims to<br />

play a pivotal role <strong>in</strong> meet<strong>in</strong>g <strong>the</strong> grow<strong>in</strong>g f<strong>in</strong>ancial needs and requirements of <strong>the</strong> region,<br />

while streng<strong>the</strong>n<strong>in</strong>g l<strong>in</strong>ks between <strong>the</strong> f<strong>in</strong>ancial markets of Europe, <strong>the</strong> Far East and <strong>the</strong><br />

Americas.<br />

With <strong>the</strong> recent economic development, rapid expansion of trade, population growth and<br />

<strong>the</strong> vast <strong>in</strong>frastructure projects currently underway, <strong>the</strong>re is a grow<strong>in</strong>g requirement for<br />

a f<strong>in</strong>ancial centre to serve <strong>the</strong> rapidly expand<strong>in</strong>g needs of <strong>in</strong>stitutions and governments<br />

<strong>in</strong> this region. The DIFC is a Federal F<strong>in</strong>ancial <strong>Free</strong> Zone attached to <strong>the</strong> Government of<br />

Dubai, established <strong>in</strong> accordance with United Arab Emirates Federal Law and by Dubai<br />

Law. The President of DIFC is His Highness Sheikh Mohammed B<strong>in</strong> Rashid Al Maktoum,<br />

Ruler of Dubai.<br />

The DIFC concept has evolved as a means of:<br />

• Provid<strong>in</strong>g depth to <strong>the</strong> regional f<strong>in</strong>ancial markets by broaden<strong>in</strong>g <strong>the</strong> range of<br />

traditional methods of f<strong>in</strong>anc<strong>in</strong>g currently provided by regional banks.<br />

<strong>PKF</strong> - <strong>Free</strong> <strong>Zones</strong> <strong>in</strong> <strong>the</strong> <strong>UAE</strong> - <strong>Free</strong> <strong>Zones</strong> <strong>in</strong> Dubai 53

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!