قانون المناطق الحرة في الإماراتقانون الاتحادي في شأن المناطق الحرة المالية

Article (1) Definitions The State : The State of the United Arab Emirates. Financial Free Zone : A free zone, that is established in any Emirate of the State, in which Financial Activities are carried out. Financial Activities : Banking, financial, insurance, financial markets activities and services and the Ancillary Activities thereto that are licensed to

-- 1 of 4 --

Federal Law of 2004 on Concerning Financial Free Zones 2 be performed in a Financial Free Zone. Ancillary Activities : Financial and currency brokerage services, consultancy and the provision of services and the supply of goods to Companies and Establishments and individuals inside the Financial Free Zones. Financial Banking Activity : Financial banking operations and banking operations. Companies and Establishments : Companies, branches of companies and establishments that are established or licensed to operate in the Financial Free Zones.

Article (4) Financial Free Zones comply with the following: 1. With regard to Financial Banking Activities: a. Licensing shall be limited to branches of Companies and Establishment, joint ventures and companies wholly owned by any of the foregoing, provided that they have a strong financial position and a complete organizational and management structure and are managed by persons having expertise and knowledge in this type of activity. b. Companies and Establishments licensed in the Financial Free Zones shall not engage in taking deposits from the national market and shall not enter into transactions in the U.A.E. Dirham.

-- 2 of 4 --

Federal Law of 2004 on Concerning Financial Free Zones 3 c. The licensing standards for companies and branches of Companies and Establishments shall not be lower than those applied in the State. 2. No financial brokers licensed on an exchange in the State may transact business in a financial free market without the approval of the Emirates Securities and Commodities Authority and Market. 3. No companies already listed on any of the exchanges in the State shall be listed without the approval of the Emirates Securities and Commodities Authority and Market. 4. The performance of insurance activity in the State shall be limited to re-insurance. 5. That the actual existence of the Companies and Establishments licensed to operate by the free zones shall be restricted to the boundaries of those zones; however, it is permissible to license them to operate outside the State.