A Free Trade Zone (FTZ), also known as a Free Economic Zone (FEZ), a Free Economic Territory (FEt), or a Free Zone (FZ), is one or more areas of a country where tariffs and quotas are eliminated, and bureaucratic requirements are reduced in order to attract businesses by floating the incentives for doing business there.
Free trade zones have been shown to be a successful and valuable strategy for developing new markets and increasing international trade earnings.
The majority of free trade zones are in developing countries. They are special zones where traditional trade restrictions such as tariffs on imports and exports do not apply, and where bureaucracy is often reduced by outsourcing to FTZ operators. Companies might look for the most suitable covered place for their needs.
As an added incentive, tax discounts may be offered to businesses that establish themselves in the Free Trade Zones.
Typically, these zones are established in underdeveloped areas of the country, with the logic that the zones will attract employers, resulting in more employment and cashflow in that area.
Table of Contents
Abu Dhabi
Dubai
Sharjah
Ajman
Ras Al Khaimah
Fujairah
Umm Al Quwain
1. Umm Al Quwain Free Trade Zone (UAQFTZ)
