The expansion was authroised by the Resolution No. 18 of 2024.
From now on, all the companies and organizations located in this building will enjoy privileges by the Free Zone Authorities.
The privileges are specified in the Resolution No. 18 of 2024 and include the following:
- 100% foreign ownership;
- exemption from customs fees;
- possibility of dual licensing;
- 0% corporate tax rate;
- simplified visas and permits issuance procedures;
- a wide range of flexible office solutions.
The inclusion of One Za'abeel to the free zone strengthens the position of the center of trade and entrepreneurship in Dubai's central business district. Both large businesses and small and medium enterprises (SMEs) will also benefit from the inclusion.
In addition, the One Za'abeel shopping center is set to open later this year, featuring a wide range of international and local brands.
UAE, Dubai — May 30, 2024
Original article: Real Law