Latest news with #FreeZone
Focus Malaysia
01-08-2025
- Business
- Focus Malaysia
Tanco and N. Sembilan state gov't further refine ties to accelerate Port Dickson Free Zone dev't
RESORT-CENTRIC property developer Tanco Holdings Bhd has unveiled the inking of a supplemental agreement with Menteri Besar Negeri Sembilan (Pemerbadanan) (MBINS) through its indirect subsidiary Tanco Land Sdn Bhd. This follows both parties' earlier joint venture agreement per their collaboration for the proposed development of the Port Dickson Free Zone (PDFZ) project, the incorporation of their JV vehicle (PDFZ Sdn Bhd) and the purchase of the first 300 acres of the land by MBINS. This latest agreement further enhances and clarifies both parties' JV relationship as well as the land acquisition process in respect of the development of the strategically important Port Dickson Free Zone (PDFZ) project. Under the terms of the supplemental agreement, financing/funding for MBINS's direct purchase of the first 300-acre portion of strategically located land in Mukim Pasir Panjang, Port Dickson at a purchase price of RM88.5 mil will be supported by advances from Tanco. The agreement also establishes a clear framework for future growth. Negotiations are actively being pursued by MBINS for a second 300-acre parcel with a commitment to secure the remaining land for the project and for the JV to be the exclusive developer for the entire PDFZ project, hence cementing its pivotal role in this large-scale development. 'With clear roles and streamlined acquisition process, we have established a foundation to swiftly advance the first phase of the 1,420-acre PDFZ project which is aligned with national priorities under Malaysia's National Physical Plan (NPP),' commented Tanco's group managing director Datuk Seri Andrew Tan Jun Suan. 'As one of the key contributors to the Malaysian Vision Valley 2.0 (MVV 2.0) initiative, this project will strategically complement our Smart AI Container Port (MIDPORT), hence reinforcing Negeri Sembilan's position as a pivotal hub for logistics, manufacturing and high-value industries.' Initiated on April 24, the MVV 2.0 initiative and MIDPORT projects have both been designated as 'National Strategic Priority Projects' by the National Physical Planning Council under Malaysia's comprehensive National Physical Plan (NPP). This designation provides streamlined approval processes, coordinated governmental support and priority access to essential resources. Being strategically situated near critical infrastructure such as Kuala Lumpur International Airport (KLIA), major expressways and the Straits of Malacca, PDFZ is poised to be an important and integral part of the broader MVV 2.0 initiative which is set to transform Negeri Sembilan into a globally competitive, high-tech industrial and logistics corridor. Together, both PDFZ and MIDPORT represent a strategic twin-engine of growth to attract substantial local and foreign investments, generate high-value employment opportunities and drive sustainable economic growth for Negeri Sembilan. At the close of today's (Aug 1) market trading, Tanco was up 0.5 sen or 0.6% to 84 sen with 63.73 million shares traded, thus valuing the company at RM4.62 bil. – Aug 1, 2025
Al Etihad
24-07-2025
- Business
- Al Etihad
Abu Dhabi named world's most tax-friendly city as UAE gains favour with the wealthy
25 July 2025 00:53 ISIDORA CIRIC (ABU DHABI)Abu Dhabi has been ranked the most tax-friendly city in the world in a new report by Multipolitan, with Dubai following close behind in second place. The UAE's twin financial centres outperformed traditional financial hubs like Singapore due to their low effective tax exposure, treaty coverage and strong governance frameworks, strengthening the country's status as a preferred destination for cross-border index, published in Multipolitan's 'Wealth Report 2025 – The Taxed Generation', ranks cities located within the world's 20 most tax-efficient countries. It combines three weighted metrics — tax rates across five key categories, double taxation treaty coverage, and regulatory quality based on World Bank were included only if they met thresholds for macroeconomic and political stability, narrowing the original pool of 164 Dhabi led with a score of 637.1, just ahead of Dubai's 635.1. While both benefit from the UAE's zero personal income tax regime, the capital edged out its neighbour due to slightly lower property-related fees — transfer and municipality charges that are often seen as proxy taxes in jurisdictions without formal report's authors said their approach focused on 'real-world outcomes' rather than political rhetoric, measuring where wealth 'faces the fewest frictions'. In practice, that meant evaluating five tax categories (personal, corporate, inheritance, wealth, and capital gains), before layering in treaty networks and regulatory stability. The UAE's broad Double Taxation Avoidance Treaty network helped lift both cities on the index's second metric, while high scores on the World Bank's Regulatory Quality indicator added an extra boost to their leadership.'Dubai, Doha, and Abu Dhabi perform strongly across all three metrics, with Abu Dhabi and Dubai retaining the top position when combining tax environment an governance considerations,' the report said. 'When factoring in double taxation avoidance as an indicator of tax system accessibility, Abu Dhabi, Dubai, Doha, and Kuwait City emerge as top performers.'While the UAE's tax regime has evolved in recent years — introducing a federal corporate tax in 2023 and a 15% minimum tax for large multinationals beginning in 2025 — it has maintained a favourable overall environment for individuals. Qualifying Free Zone entities can still access 0% corporate tax rates, and reforms around audit standards, beneficial ownership disclosures, and FATCA/CRS compliance have been designed to bring the system closer to international norms without alienating mobile Multipolitan rankings are the latest in a string of research highlighting the UAE's draw for high-net-worth individuals. In April, Savills ranked Dubai and Abu Dhabi as the top two cities worldwide for wealthy individuals to live and work, citing lifestyle, governance, climate, and safety alongside tax factors. The report found that more than 6,700 ultra-wealthy individuals relocated to the UAE last year, many from higher-tax jurisdictions like the UK, where marginal rates can reach 45%.Then in June, the Henley Private Wealth Migration Report projected the UAE would attract 9,800 new millionaires in 2025 — more than any other country. The value of capital associated with these moves is estimated at $63 billion, with the UAE recording a 98% growth in its millionaire population over the past report also looked at longer-term trends through two other metrics — the Wealth Preservation Cities Index 2015-2025 and the Smart & Sustainable Cities Index — with both UAE cities making the top the Wealth Preservation Cities Index, Abu Dhabi ranked 22nd and Dubai 24th on this list, marking the only Gulf entries in a group otherwise dominated by Western cities. The methodology here focused on inflation, currency stability, earnings, asset growth, and governance, before evaluating urban hubs on indicators such as property values and quality of Smart & Sustainable Cities Index, meanwhile, ranked Abu Dhabi in 23rd and Dubai close behind at 25th. The index examines long-term potential for preserving wealth through digital readiness, climate resilience, and political stability. The report places the UAE's performance within a broader trend of the Gulf region's coordinated drive to attract mobile capital. Seven cities from the region landed in the global top 20, including Manama (4th), Doha (5th), Kuwait City (8th), Riyadh (12th) and Muscat (17th).
Arabian Business
19-07-2025
- Business
- Arabian Business
Set up a media business in Sharjah in days: Instant licences, 5-day visas, full ownership
Sharjah Publishing City Free Zone has launched a limited-time summer promotion aimed at global publishing and creative entrepreneurs, offering a fast-tracked business setup with substantial cost and time savings—available only until the end of July. The initiative is designed to attract content creators, publishers, designers, translators, and media businesses seeking to enter the UAE and wider regional markets. Upon approval, the business licence is issued instantly, and the residency visa is processed in just five working days—a major draw for international founders looking to launch operations quickly. Saif Al Suwaidi, Director of Sharjah Publishing City, said: 'Sharjah's vision has always been to empower the written word and those who bring it to the world. This summer initiative reflects our commitment to removing barriers for global publishing and creative talent. 'By offering speed, simplicity, and significant value, we aim to attract innovative businesses seeking a strategic base to serve regional and international markets.' Key features of the Sharjah Publishing City Free Zone Summer Promotion: Instant business licence issuance Residency visa processed in five working days Access to more than 2,000 business activities, including: Book and digital publishing Printing, packaging, translation Graphic design, content creation, media services 100 per cent foreign ownership and profit repatriation Unlimited visa sponsorship with Flexi-Desk package Free company name check and 60-second support callbacks Streamlined banking with access to more than 10 UAE and international banks This summer offer enhances Sharjah's global positioning as a hub for knowledge, publishing, and media industries, building on its cultural heritage and strategic UAE location. SPC Free Zone provides a frictionless setup journey tailored for publishers, startups, and creatives looking for regional growth. Entrepreneurs interested in taking advantage of the promotion are encouraged to begin the setup process via the SPC Free Zone website, where an online form enables quick onboarding.
Time Business News
14-07-2025
- Business
- Time Business News
How to Start a Business in the UAE: Step-by-Step Guide for 2025
Thinking of starting a business in the UAE in 2025? You're not alone. The UAE is a magnet for entrepreneurs, startups, and investors worldwide. Thanks to its tax-friendly regime, high-quality infrastructure, and global connectivity, setting up a business here has never been more appealing. But hold on, you can't just land in Dubai and open shops the next day. You need a proper plan, local insight, and a clear understanding of the UAE's legal landscape. Here wewalk you through every step from idea to license, so you can launch smart and succeed faster. Before diving in, you must understand the three main jurisdictions where businesses operate: Ideal for full ownership and tax benefits. You're limited to operating inside the zone or internationally unless you use a distributor. Gives you access to the UAE market directly. As of recent reforms, 100% foreign ownership is allowed in many sectors. Best suited for international trading or holding companies. Offshore companies can't operate directly in the UAE market. The first step is deciding what type of business you want to start. From tech startups to construction firms or consultants, your choice must align with the activities listed by the Department of Economic Development (DED). Free Zone : If your clients are international or online. : If your clients are international or online. Mainland : If you want to serve UAE's domestic market. : If you want to serve UAE's domestic market. Offshore: If you need global banking and asset protection. Your business structure defines your responsibilities, liability, and setup needs: Sole Proprietorship : One individual owns and runs the business. : One individual owns and runs the business. LLC (Limited Liability Company) : Ideal for partnerships. : Ideal for partnerships. Branch Office: Great for expanding foreign entities into the UAE. Your business name should be unique, relevant, and comply with naming laws (no religious or political terms). You can check availability on DED or Free Zone portals. This is the government's green signal that they're okay with you starting your setup. Basic documents like passport copies and business activity info are needed. MoA (Memorandum of Association) : Describes your business and partner roles. : Describes your business and partner roles. LSA (Local Service Agent): Required only for certain professional setups in mainland. UAE laws require a physical address. You can pick: Virtual offices (popular with Free Zones) Shared workspaces Leased commercial space Depending on your activity, you might need extra approvals (e.g., health, education, construction). Always check with relevant authorities. Main types of licenses: Commercial – For trading activities – For trading activities Professional – For consultancy, marketing, education – For consultancy, marketing, education Industrial – For manufacturing and production Pick a local or international bank based in the UAE. Requirements include: Trade license Passport copies MoA and company profile You'll need: Investor Visa (for owners) (for owners) Employee Visas (for staff) (for staff) Dependent Visas (for family) Startup costs vary based on location, business type, and license. On average: Free Zone: AED 12,000 – AED 50,000+ Mainland: AED 20,000 – AED 100,000+ Additional: Office rent, visa fees, insurance, and bank deposits Watch out for: Hidden government charges Renewal costs Ejari and tenancy contract fees Setting up in the UAE can get complex, but professional business setup services in UAE can streamline everything. They'll help with: Paperwork & government coordination Trade license applications Visa processing Office leasing and legal formalities Reputable company formation services in UAE guide you through compliance, document submission, and license acquisition. What they offer: End-to-end documentation Legal structure consulting Liaison with Free Zone and DED authorities PRO and translation services Understand the culture : Respect local customs and dress modestly : Respect local customs and dress modestly Build your online presence early : SEO, Google Maps, Social Media : SEO, Google Maps, Social Media Network like a pro: Attend expos and B2B events Choosing the wrong jurisdiction Underestimating operational costs Ignoring local labor laws Not having a proper marketing plan Starting a business in the UAE in 2025 is an exciting journey filled with opportunity. With a booming economy, tax advantages, and ease of doing business, it's no wonder so many are choosing the Emirates as their business hub. But don't go alone. Make use of professional business setup services in UAE and expert company formation services in UAE to guide you through the process and help you start strong. 1. What are the best free zones in the UAE in 2025? DMCC, IFZA, SHAMS, and RAKEZ are among the top Free Zones offering diverse benefits for various industries. 2. Can a foreigner own 100% of a business in UAE? Yes, many sectors now allow 100% foreign ownership in both Free Zones and the Mainland. 3. How long does company formation take? If your documents are in order, it can take anywhere from 3 to 10 business days. 4. Is a local sponsor mandatory in 2025? Not always. In many business activities and jurisdictions, local sponsors are no longer required. 5. Can I open a UAE company without visiting? Yes, some Free Zones allow full remote setup. But for banking and some approvals, a physical visit may be needed. TIME BUSINESS NEWS
Bangkok Post
11-07-2025
- Business
- Bangkok Post
Cambodia row hits local fruit growers
TRAT: The closure of the Ban Had Lek permanent border checkpoint to Cambodia in Trat province has resulted in economic losses exceeding 10 billion baht over the past two weeks, officials say. The government has been stepping up efforts to support affected fruit farmers to help mitigate any disruptions to their export businesses. Theeraj Athanavanich, director-general of the Customs Department, yesterday led an inspection of the closed border point where over 90% of local shops have closed due to the halt in cross-border trade. Maritime imports of Cambodian fishery products have also stopped completely. Mr Theeraj said total exports to Cambodia, normally worth about 20 billion baht per month, have fallen, resulting in losses exceeding 10 billion baht since the border closed 14 days ago. He said the Customs Department is operating under national security directives enforced by the National Security Council, which monitors the situation closely. Wipa Sunate, president of the Trat Chamber of Commerce, reported daily losses of about 80 million baht caused by trucks unable to cross the checkpoint. She noted wider impacts on motorcycle taxi drivers, street vendors, and small traders who rely on border traffic for their livelihoods. Ms Wipa urged the targeted reopening of border areas unaffected by the conflict to ease people's economic hardship. She asked the government to allow expired-duty goods stuck in containers to be sold domestically and extend Free Zone storage limits to prevent container seizures that cost exporters significant fees. In response to the export disruption, the government has initiated measures to assist fruit growers in the eastern provinces. Deputy government spokesman Anukul Pruksanusak said over 10,000 tonnes of fruit have been redirected to domestic markets through partnerships with wet markets, retailers, and airlines. CP All Plc, operator of 7-Eleven stores, has begun purchasing mangosteen affected by the border closure, distributing 70T at 8,200 outlets nationwide at 40 baht per kg, he said. The government plans to expand purchases to northern longan and southern mangosteen. The Commerce Ministry has also coordinated with the military to provide labour for harvesting, particularly longan, while the Corrections Department is deploying well-behaved inmates to assist with labour shortages. Officials aim to expand exports to new markets such as India, the Middle East, and additional regions in China to reduce domestic oversupply and stabilise prices. The Thai Chamber of Commerce is working with agencies on short- and long-term strategies to link fruit producers with processing facilities and improve market access, he said. The government urged farmers to remain confident as plans are in place to maximise sales and mitigate the impact of export barriers as the harvest season progresses.
