Dubai Announces Easier Visa Process, Tax Exemption for One Za'abeel Firms

asmaa - | Business

The recent announcement of One Za'abeel's integration into the Dubai World Trade Free Zone marks a pivotal moment for businesses within this iconic landmark. By aligning with the Free Zone framework, companies and organizations operating within One Za'abeel gain access to a myriad of incentives aimed at stimulating growth and innovation.

Integration into the Free Zone

Dubai's skyline is continually evolving, with One Za'abeel emerging as the latest addition along the Sheikh Zayed Road. This iconic cantilevered structure has now been integrated into the Dubai World Trade Free Zone, marking a significant milestone announced on Wednesday.

Privileges and Incentives

The inclusion of One Za'abeel in the free zone framework extends a host of privileges to the companies and organizations housed within this architectural marvel. Decree No. 18 of 2024 outlines these benefits, encompassing 100% foreign ownership, exemption from customs duties, dual-licensing opportunities, a 0% corporate tax rate, simplified visa and permit procedures, and a diverse range of flexible office solutions.

Abdalla Al Banna, vice president of Free Zone Regulatory Operations at Dubai World Trade Centre Authority, emphasized the strategic importance of incorporating One Za'abeel into the Free Zone, highlighting its role in enhancing commerce and enterprise within Dubai's Central Business District. This move directly supports businesses and SMEs, aligning with the objectives outlined in Dubai's Economic Agenda D33.

The offices within One Za'abeel offer 26,000 square meters of Grade-A office space, accompanied by premium amenities and services. Notably, the development holds prestigious certifications, including LEED Gold and WiredScore Platinum, underscoring its commitment to technology, connectivity, and sustainability.

Spanning across 17 levels, the offices provide tenants with access to a vibrant ecosystem comprising retail outlets, dining options, hospitality services, and more, all conveniently situated within the vicinity.

Issam Galadari, director of One Za'abeel Holdings, expressed enthusiasm about the integration of One Za'abeel into the Dubai World Trade Center Authority's Free Zone. This integration promises continued growth opportunities for tenants of The Offices and the upcoming retail podium, enabling them to strengthen their presence within this thriving business community.

Anticipation surrounds the imminent opening of One Za'abeel's retail venue, scheduled later this year. The Podium is set to showcase an eclectic mix of international and local brands, further enriching the vibrant atmosphere of this dynamic development.

The integration of One Za'abeel into the Dubai World Trade Free Zone represents a strategic move to attract both local and international businesses to the heart of Dubai's commercial landscape. By offering a suite of incentives, such as foreign ownership, tax exemptions, and simplified administrative processes, the Free Zone aims to foster a conducive environment for entrepreneurship and innovation.

This expansion aligns with Dubai's vision to diversify its economy and solidify its position as a global business hub. With One Za'abeel's state-of-the-art infrastructure and prime location, it presents an enticing opportunity for companies seeking to establish or expand their presence in the region.

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