Forming a company in free zone is an easy way to own a company without any local partnership or sponsorship involvement in the business. Owning a company in free zone ensures that you have a complete freedom for doing local as well as international trading. This is one of the reasons free zones are called as Free Trade Zones. Free zone company formations are currently authorized in the UAE under free zone authorities like Dubai Airport Free Zone Authority, Dubai Multi Commodities Centre Authority, Dubai Silicon Oasis Authority, Sharjah Media City Free Zone Authority, Hamriyah Free Zone Authority, Ajman Fee Zone Authority, International Free Zone Authority, Ajman Media City Free Zone Authority, Ras Al Khaimah Economic Zone Authority etc. Forming a company in free zone provides tax exemption and complete ownership. In free zones you get opportunity to trade free of taxes.