UAE's Largest Free Zone Sees Influx Of Firms
by Lorys Charalambous, Lowtax.net, Cyprus
11 July, 2014
Dubai Multi Commodities Centre, the largest free zone in the United Arab Emirates (UAE), announced on July 7, 2014, that it registered 1,027 member companies in the first six months of 2014.
The new registrations bring the total number of companies operating in the zone to more than 8,865, a 30 percent increase compared to a year earlier.
DMCC recently announced a major expansion with the building of the Burj 2020 District with the world's tallest commercial tower, Burj 2020, as its centerpiece.
The benefits of setting up a company in one of Dubai's free zones include tax exemptions and 100 percent foreign ownership.
Ahmed Bin Sulayem, Executive Chairman, DMCC, commented:
"DMCC continues to attract members at an unprecedented rate and we are proud of the ever increasing contribution to Dubai's overall economy. By driving foreign direct investment we will ensure Dubai remains the regional and international trade and tourism hub."
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