Louis Vuitton Becomes First Corporate Member Under Scheme

(MENAFN- Khaleej Times)

Dubai on Tuesday implemented the One Freezone Passport, which allows companies to operate across all free zones in the emirate under a single licence. Launched by Dubai Free Zones Council (DFZC), this programme makes doing business much easier and helps streamline business expansion across Dubai’s economic zones.

Global luxury brand Louis Vuitton became the first corporate member to leverage and benefit from this initiative, as it will now maintain its warehouse operations in Jebel Ali Free Zone (Jafza) while establishing its corporate office at One Za’abeel , which is part of DWTC Free Zone.

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The expansion was completed in just five days, demonstrating Dubai’s efficiency in facilitating business licensing.

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“The One Freezone Passport is a transformative initiative that cements Dubai’s position as a global economic powerhouse. By enabling businesses to expand seamlessly across our world-class free zones , we are reinforcing Dubai’s reputation as a premier investment destination. The swift and successful onboarding of Louis Vuitton through this programme exemplifies the efficiency and attractiveness of Dubai’s regulatory framework for international businesses,” said Dr Juma Al Matrooshi, assistant secretary general at Dubai Free Zones Council.

Dubai has more than two dozen free zones , each designed to cater to different sectors such as media, trade, education and others, recording billions of dirhams in trading. Free zones in Dubai offer 100 per cent foreign ownership and tax exemptions to companies operating there. These free zones make a huge contribution to the UAE’s non-oil foreign trade, which grew 18.6 per cent year-on-year in the first quarter of this year, reaching Dh835 billion.

“The successful onboarding of Louis Vuitton through the citywide One Freezone Passport initiative demonstrates both the calibre of businesses Dubai continues to attract and our commitment to fostering an efficient business environment. The company’s decision to expand operations into DWTC Free Zone from Jafza reinforces international confidence in Dubai’s business ecosystem,” said Abdalla Al Banna, vice-president of Free Zone Regulatory Operations at DWTC.

He said this programme enhances Dubai’s attractiveness for global enterprises by enabling seamless operations across the city’s free zones.

Amna Al Ali, vice-president of licensing and registration at Jebel Ali Free Zones, said the programme enables companies licensed at a single free zone to benefit from facilities located in other free zones across the emirate without requiring additional licensing.

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