The Dubai Free Zone Counsel (the “DFZ Council”) has tentatively agreed at their 12th meeting to permit companies operating in a Free Zone to operate in other Free Zones in Dubai without the need for multiple licenses and separate office spaces. This initiative, along with other initiatives such as the Foreign Investment Law (Federal Law no. 19 of 2018), which allows foreign shareholders to own up to 100% of the shares in companies within the mainland in certain economic sectors, can be seen as a way to encourage foreign investment into Dubai and invite more businesses to open in both the mainland and Free Zones. While the details and Laws surrounding the “Free Zone Collaborate” have yet to be announced, it is positive that the DFZ Council has come to a tentative decision about it and we look forward to informing you once further details have been announced.
Please contact Hooriya Qazal at moc.e1566603742taico1566603742ssaqc1566603742ocel@1566603742rqh1566603742 in case of questions.