COMPANY
INCORPORATION
UAE FREE ZONES 100% OWNERSHIP
Free-zones in UAE have different names sometimes called a free
economic zone, duty free zone, tax free zone, trade free zone or free trade
zone, UAE has more than 34 Free Zones & all free zones are geographically
distinguished areas governed under laws and regulations different from the laws
prevailing in the Mainland of UAE.
UAE FREE ZONES
·
100% ownership.
·
No tax on corporate gains or personal incomes
·
100% repatriation of capital and profits
·
Exemption from import and export duties
Free Zone Entity
The major attraction of
setting up business in Free Zones is the 100% ownership allowed to foreign
investors. The incentives for a Free Zone entity are
100% foreign ownership
Exemption from tax on corporate gains or personal incomes
Exemption from tax on corporate gains or personal incomes
No currency restrictions
Business may be set up in
United Arab Emirates either as
Free Zone Company (allows 2 to 5 shareholders) FZC
Free Zone Establishment (with just one shareholder / owner) FZE
Branch / Representative Office of Foreign Company or UAE Company
The United Arab Emirates
is bordered by the Arab Gulf from the North, Gulf of Oman and the Sultanate of
Oman from the East, the Kingdom of Saudi Arabia and the Sultanate of Oman from
the South, and the State of Qatar and the Kingdom of Saudi Arabia from the
West. The country is located between 22-26.5 N latitude, and 51-56.51 E
longitude.
The United Arab Emirates
has a 644 kilometer long coast at the southern Arab Gulf, where the Emirates of
Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain and Ras Al Khaimah are located,
while the 90 kilometre long coast of the Emirate of Fujairah is located at the
Gulf of Oman.
The area of the country
is 83,600 square Kilometres, with the desert dominating most of this area with
many popular oases. Most of the country's coast is dominated by sand except for
the northern area at Ras Al Khaimah, which constitutes the Hajer mountain cape.
The country has hundreds
of islands within the Gulf, of which 200 are in the Emirate of Abu Dhabi,
importantly Sir BaniYas that has evolved into an oasis and a conservation area
for rare birds and animals. Other important islands include Das island, Abu Al
Abyadh island, Abu Mousa island and Sir Bu Nair at Sharjah, Greater Tunb,
Lesser Tunb and Al Hamra at Ras Al Khaimah, and Al Jazira Al Syniyah at Umm Al
Quwain.
Governance
Since its establishment,
the UAE adopted the Constitution, which declares the main purpose of
establishment of the federation, its objectives and components on the local and
regional levels. It enumerates public rights, responsibilities and freedoms.
The Constitution of the
UAE also deals with financial affairs of the federation, armed and security
forces provisions, and legislative, executive and international jurisdictions
between the federation and member emirates.
The UAE's Constitution
allows certain flexibility in the distribution of authority between the Federal
and Local Governments. This allows the seven emirates to incorporate in their
own local government, matters not included in the Constitution.
Each of the seven
emirates has its own local government, the complexity of which differs
according to the size and population of individual emirates. Each follows a
general pattern of municipalities and departments. This relationship is
evolving over time, dictated by administrative requirements.
The federal system of
government includes:
·
The President
·
The Prime Minister
·
The Supreme Council
·
Crown Princes and Deputy Rulers
·
The Federal National Council
·
The Council of Ministers or The Cabinet
History
The United Arab Emirates
has a rich history dating back to thousands of years. So, the country is
concerned with preserving and documenting such heritage for the next
generations.
Archeological excavations
and antiques found in many areas of the country have proved that a great
civilization used to be prosperous in the area known today as the United Arab
Emirates. The civilization dates back to 4000 BC, and was connected to the
neighbouring civilizations. Pieces of coloured pottery that have been uncovered
were imported from Mesopotamia. They date back to 3000 BC, which indicate the
links between these areas and the people of South Iraq.
Various stone tools,
sharp sword blades and metal sheets were found. Excavations show forts at Hilly
site, Bidya, Tell Abraq and Kalbaa that date back 2500-2000 B.C. Recent
discoveries show a square citadel with square towers at its corners, in
addition to an external wall of 55m long, and a stone mould to make metal coins
inside the citadel.
With the coming of Islam,
a new phase of the country's history had begun, as Islam reached this country
thanks to the Arab leader Amr bin Al-As. The Gulf area under the rule of Islam
witnessed a prosperous period, and the Gulf became an international hub of
marine trade and navigation during the Umayyad age when the vessel industry
prospered.
An archeological site at
Jumeirah area in Dubai has been identified as the remainder of an Islamic city
of the Umayyad age, which was controlling the trade routes at that time. One of
the known Islamic cities is Julphar north of the city of Ras Al Khaimah, where
houses were found and four mosques dating back to the Hijri fourth century.
