Freezone is an area where the business is conducted without the Government restrictions normally applied to foreign businesses, such as requiring a partner with UAE nationality, or corporate or income tax.
In a Free zone, foreigners can hold up to 100% share in the company and in Mainland, the local partner should hold 51% shares and foreign partner 49%. A Freezone Company cannot open an office outside Freezone. In order to do business outside Freezones, the company has to be registered with the Economic Department of the respective Emirates. Company Bank account can be opened & operated solely by an expatriate in a Free zone company
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