Dubai One Free Zone Passport Initiative
The Dubai government initiative, “One Free Zone Passpor
The Dubai government initiative, “One Free Zone Passport”, aims to promote business and make it easier for companies to operate across multiple free zones in the emirate.
What does it do?
The Dubai Free Zones Council (DFZ Council), a government entity, looks after the development of free zones, with the objectives of seeking to attract investment, as well integration and coordination between different free zones in the emirate.
The DFZ Council comprises of 24 free zones, including Jebel Ali Free Zone (JAFZA), Dubai International Financial Centre (DIFC), Dubai Creative Clusters Authority (DCCA), Dubai Airport Freezone (DAFZA), Dubai Multi Commodities Centre (DMCC), Dubai South, Dubai Silicon Oasis Authority (DSOA), Dubai World Trade Centre (DWTC), Dubai Healthcare City (DHCC), Meydan Free Zone, and International Humanitarian City (IHC).
The Council recently held its 12th meeting, where members discussed the latest developments related to various initiatives and industries. At this meeting, members reached a preliminary agreement on the One Free Zone Passport initiative, which allows companies licensed in one free zone to also operate in other free zones in Dubai without the need for another license.
What does this mean for you?
Dubai has a number of free zones catering to different types of activities, established in various locations. Hence, this will enable entities established in one free zone to easily set up offices and operate in one or more free zones without applying for additional licenses.
Businesses ought to consider this development and its impact for structuring their operations across Dubai. The initiative’s progress should be monitored on an ongoing basis.
If you would like to discuss these developments further please feel free to contact me.
© 2021 KPMG Lower Gulf Limited, KPMG LLP and KPMG LLC, licensed in the United Arab Emirates and the Sultanate of Oman, and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.