Free trade zones are specific areas which offer tax, tariff and regulatory incentives in order to attract export-oriented companies.
Usually these incentives only apply for raw materials/products that are destined for export, if they are eventually sold to the local market, normal tariffs will apply. The types of incentives that are given depends greatly on the country and the free zone.
Apart from these incentives, free zone areas also offer the advantage of being located next to ports, airports or highways is especially beneficial for an efficient and timely export.
A Free Zone Authority offers business licenses to foreign-owned businesses. Each Free Zone is designed around one or more business industry categories and only offers licenses to companies within those categories.
Free zones also offer good and cheaper infrastructure. Many popular free zones offer state-of-the-art office spaces that are custom made for investors.
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