One free zone passport for companies, to attract international companies

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Photo: @issaygarcia

The Dubai Free Zones Council (DFZ Council) seeks to implement Free Zone 10x platform as discusses in 13thmeeting, headed by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the DFZ Council, to talk about the comprehensive geo-economic map of Dubai that aims to be a leading destination for business and investment.

The meeting also tackled the proposals related to long-term rental agreements for investors in Dubai’s free zones, the one free zone passport. It is a unified license that will allow businesses to operate on emirate free zones.

HH Sheikh Ahmed bin Saeed Al Maktoum said, “The coordinated efforts among the free zones in Dubai contribute to economic diversification – an essential pillar of the economy of the future. This creates a favorable environment to bring groundbreaking concepts to life. Greater coordination also paves the way for sustainable development and presents exceptional opportunities to attract SMEs and international companies and empower entrepreneurs to realize their creative ideas. In turn, these opportunities strengthen Dubai’s pioneering status as a creativity lab and global capital of innovation, in line with Sheikh Mohammed’s vision of establishing free zones in Dubai.”

This one free zone passport will also allow companies to operate other free zones in Dubai even without a second license. It is also suggested that instead of 25 years, long-term duration should be extended to 50 years.