An interesting concept of different freezones in Dubai, and why these have their own significance in their respective regions.
Currently, Dubai accounts to more than 30 freezone areas which have their own set of regulations and rules that a member has to comply to. The most popular freezones being DIFC, Internet City, Media City, DMCC, IMPZ, Health Care City, JAFZA, DAFZA, DSO and Dubai World Central also known as Dubai South.
The idea of freezones are designed around the theme of its operations, and what businesses it would cater within the region. Generally, these Freezones are named and located as per their specialty to ensure that they provide all possible facilities sought by the businesses in that particular industry.
For example, Jabel Ali Freezone a.k.a JAFZA caters businesses that are related to port operations, warehousing, logistics and trading, hence it is located within the vicinity of Jebel Ali Port Dubai. Similarly, DAFZA facilities revolve around its operations that facilitates aviation industry and thus it is located next to Dubai Airports. These specialized freezone not only help startups and regional MNCs to come and operate in a thriving business market of Dubai, but the concept also boosts the businesses during its initial phases.
However, a catch in these freezones is the fact that companies that register their trade license in a specific freezone ought to operate within that trade zone, which means their presence through the commercial space and their employees need to be registered within the same freezone. And if they are to do business outside with any other freezone or mainland, they would need to seek for additional permissions.
This regulation helps organizations to comply by certain standards and deliver consistently, and if by any chance any discrepancy arises in business dealing the same regulatory authority manages the arbitration internally and resolves it. This results in faster and smoother business flow which is one the critical success factor for businesses in the region.
Moreover, the employees who work in the companies get freezone visas from their designated freezone which is 3 years instead of 2 years. And the families that they sponsor also avail this benefit of 3 years visa instead of one.
Almost all freezones have now moved onto digital media wherein the company formation, visa processes, day to day regulations and official communication are all conducted through online portals, which makes it more convenient for the business owners to manage.
For more information about freezones and to discover the best commercial spaces in different freezones in Dubai, feel free to get in touch with Homes 4 Life.