The Dubai Free Zones Council held its thirty-first meeting under the leadership of His Highness Sheikh Ahmed bin Saeed Al Maktoum, the chairman of the council.
During the meeting, various strategic topics were addressed aimed at bolstering sustainable economic growth, enhancing the competitiveness of free zones in the emirate, and facilitating business operations within a flexible and comprehensive legislative environment.
The council reviewed the latest developments regarding the implementation of the national compliance plan for company registrants, following the national evaluation results concerning anti-money laundering and counter-terrorism financing, which encompassed several aspects related to data, challenges, and processes.
Council members discussed the requirements set by the National Committee for combating money laundering and the financing of terrorist organizations and unlawful activities, the targeted practices, the timeline for the evaluation process from 2025 to 2027, along with proposals aimed at improving compliance efficiency and the country’s preparedness for upcoming evaluations.
In another area of discussion, the council explored updates concerning the implementation of Executive Council Resolution No. (11) for the year 2025, which regulates how free zone establishments operate within Dubai. This initiative is seen as a significant advancement for enabling companies to expand in the local market without needing to create new entities in the emirate.
The discussions included the phases of application, the criteria for obtaining permits, including dual licensing requirements, and the integration with relevant digital systems, aligning with global competitiveness standards and the goals of the “Dubai Economic Agenda D33,” which aims to double the emirate’s economy over the next decade and establish it as one of the top three economic cities globally.
Additionally, the council contemplated ways to streamline processes and requirements to facilitate the completion of service and licensing acquisition from local and federal entities related to activities requiring external approvals. The conversation also identified challenges arising from procedural discrepancies and the multiplicity of competent authorities, as well as their impact on investors and the business environment.
The council proposed several recommendations to simplify these requirements, which included full digital transformation, standardizing forms and criteria, categorizing activities by risk level, and creating expedited pathways for strategic projects.
Lastly, the council reviewed updates on various other topics, including special economic zones, the council’s initiatives and projects, and the plans for developing national competencies within free zone authorities and companies.