€122,002.00
Dubai has opened a new free trade zone dedicated to e-commerce business. This is the latest effort of the UAE to modernize and diversify its commercial interests. The Dubai Business City Trade Zone will be located in the Umm Ramool district south of Dubai. International airport. The total investment of the project is expected to be 2.7 billion dirhams, or approximately 623 million euros.
The site covers an area of 2.1 million square feet and will be divided into three clusters: a business area for offices, a logistics area for service providers and customers, and a social area for visitors and employees, including a series of galleries, cafes, and restaurants.
The project aims to take advantage of the increasing popularity of e-commerce in the Arabian Gulf region. By 2020, local e-commerce sales are expected to quadruple to 73.4 billion dirhams. This includes AED 20 billion in Dubai, which accounts for one-tenth of its estimated total retail sales. The Dubai authorities plan to launch the project in two phases. First, it will provide existing regional producers with state-of-the-art storage facilities to facilitate distribution in the Gulf region. Then, the rest of the region will be open to foreign investors, with a focus on attracting innovative startups.
Like most new buildings in the UAE, Dubai Business City also plans to achieve sustainable development. Solar energy, water recycling and renewable building materials will become part of Smart Dubai’s plan to consolidate the country’s leadership in addressing climate change. The E-commerce Free Trade Zone is the latest in a series of similar plans surrounding the plan. United Arab Emirates. There are more than 20 free trade zones in Dubai alone, and there are dozens of free trade zones across the country, each of which brings benefits to specific industry sectors.
Each free trade zone is subject to the same rules, which brings considerable benefits to local and foreign companies. Enterprises can be completely foreign-funded enterprises, exempt from 100% import and export tax, without paying personal income tax.
All capital and profits of an enterprise can be remitted, and eligible enterprises can be exempted from tax for up to 30 years. Businesses can also benefit from support services, including sponsorship and recruitment assistance. Facts have proved that the UAE is particularly forward-thinking in terms of business development. In addition to the rapid adoption of “smart city” technology, the UAE has appointed an artificial intelligence minister and centralized many of its services and payment processes in a digital portal.
We will work hard to keep you informed of the latest developments in the UAE. For more information on starting a business in the United Arab Emirates or helping to establish a commercial bank account or tax advice, please feel free to contact us.
For More Knowledge About Dubai Company Formation Contact us +91-9599-293-700, support@ondemandint.com
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