60,600 businesses operate in UAE free zones

There are over 44 free zones in the UAE. Photo Credit to Arabian Business

The total number of businesses operating in the UAE free-trade zones grew by 4.4 per cent to around 60,600 by end of mid — February 2021. This is the result of successful business continuity and disaster recovery plans adopted by the Emirates to reform the economy after the global economic slowdown triggered by the COVID-19 pandemic.

Foreigners comprise more than 80 percent of the population in the United Arab Emirates, reason why the amendments to the Commercial Companies law of 2015 were one of the latest measures aimed at liberalizing business activity in the country.

This amendments are designed to reduce costs for companies and attract foreign entrepreneurs often put off by regulations demanding them to hand over 51 percent of their business to locals in order to operate onshore.

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