Dubai: Offshore Business Sectors
Dubai's economy is fairly clearly divided between the 'onshore' sector, dominated by local business interests, with restrictions on foreign ownership, and the 'offshore' sector which consists of the Jebel Ali Free Zone, Dubai Investment Park, Dubai Internet City, Dubai International Finance Centre (DIFC), Dubai Airport Free Zone and Dubai Media City. Although there are no taxes to speak of in Dubai, on- or off-shore, 100% foreign ownership and customs privileges make the Free Zone and its successors some of the most favourable locations in the Middle East for international operations.
Although business in Dubai is very low-tax, in our Offshore Business Review we examine the Free Zone, the newer DIC and DIFC, shipping and the banking and finance sector, which are the business sectors most interesting to international investors.
For details of taxation of Dubai entities, see Offshore Legal and Tax Regimes.