Companies Situated in One Za’abeel to Enjoy Benefits Like 100% Foreign Ownership and Zero Corporate Tax

One Za’abeel, the landmark mixed-use property in Dubai’s Central Business District, has become part of the Dubai World Trade Centre Authority (DWTCA) Free Zone.

Decree No. 18 of 2024 was issued by Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister, and Ruler of Dubai, to formally integrate One Za’abeel into the free zone.

Companies situated in One Za’abeel will now enjoy benefits like 100% foreign ownership and zero corporate tax. These incentives are aimed at attracting global businesses and entrepreneurs.

Other benefits include:

  • Exemption from customs duties
  • Dual-licensing opportunities
  • Simplified procedures for visas and permits
  • A wide range of flexible office solutions

“Becoming a part of the Dubai World Trade Centre Authority’s Free Zone further benefits the tenants of One Za’abeel The Offices and its forthcoming retail Podium, offering them continued opportunity to grow and solidify their presence in this thriving business community,” said Issam Galadari, Director of One Za’abeel Holdings.

One Za’abeel contains over 26,000 square metres of Grade A offices adhering to LEED Gold and WiredScore Platinum standards. Its retail element is slated to open later this year.

DWTCA Free Zone caters to large multinationals as well as SMEs through tailored services.

“Dubai World Trade Centre Authority’s Free Zone offers a competitive and robust ecosystem, set within a regulated environment that attracts global companies, innovators, and entrepreneurs. Expanding our jurisdiction to include One Za’abeel as part of the Free Zone reinforces our position as a hub for commerce and enterprise in the heart of Dubai’s Central Business District and directly benefits businesses and SMEs that are integral to accelerating the goals of Dubai’s Economic Agenda D33,” added Abdalla Al Banna, VP of Free Zone Regulatory Operations of Dubai World Trade Centre Authority.

Source: arabianbusiness.com