UMM AL QUWAIN FREEZONE /UAQ Free Zone

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UAQ Free Zone

UMM AL QUWAIN FREEZONE /UAQ Free Zone

Six Advantages of Opening a Company in Umm Al Quwain Freezone

Free Trade Zones are lucrative propositions for anyone starting a business in the UAE. Whenever one thinks of FTZs in UAE, people think of Dubai or Abu Dhabi. However, there are other options which offer some really great advantages.  One such location is Umm Al Quwain Free Zone.  In the following article we would take a look at the UAQ Freezone and its many advantages

Umm Al Quwain Free Zone – An Overview

Located in the emirate of Umm Al Quwain (in the north of the UAE), the Umm Al Quwain free zone offers a host of advantages like:

  • 0% corporate and personal tax,
  • 100% company ownership,
  • 100% repatriation of capital and profits,
  • no currency restrictions,
  • 100% import and export tax exemption and many more

Starting a business in UAQ Freezone is therefore a great opportunity for entrepreneurs who are trying to make it big in UAE. However, you might say that most of the advantages given above are available at other Free zones in UAE. Well, the ones mentioned above are not the only benefits of starting a company in the UAQ Freezone. Umm Al Quwain Free Zone also offers entrepreneurs a range of benefits that differ slightly from others in the region and gives you the edge that you desire. So, if you’re attracted to the idea of free zones and are considering your options, here are the six advantages of Umm Al Quwain Freezone that would help you decide whether it’s the right fit for your business.

  1. Simpler incorporation process: Entrepreneurs who set up their business in UAQ Freezone are not required to put forward any share capital or give any details of shareholder. Every entrepreneur often gets worried when they think about audit. However, you need not worry about that when you are based out of Umm Al Quwain free zone as there are no annual audit requirements. Yes, you need to maintain proper books of account but you don’t need to get them audit requirements. The entire incorporation process is simplified further as there is no need to present a formal business plan either.
  2. Quicker setup: One of the biggest benefits of the Umm Al Quwain Free Zone is the speed and ease at which entrepreneurs can go from thinking about opening a company to actually opening a company in the UAQ Free Zone. In some cases, you would be allowed to set up a business in the Umm Al Quwain freezone without visiting the UAE ever. Even if you aren’t able to do that, you don’t need to worry as you can set up a business in Umm Al Quwain Free Zone in as little as two to three days. It is very rare to find a place where an entrepreneur could move from the idea of the business to the realization of that business in less than a week.
  3. Wide Range of license options: Another huge advantage of starting a business in UAQ Free Zone is that you get a wide range of options to choose from. This makes Umm Al Quwain Free Zone to be an attractive proposition to entrepreneurs looking to set up in the UAE.

When you are opening a company in the UAQ Freezone, you can apply for many different license types: Commercial, industrial consultancy, service and freelance / micro business.

The commercial license allows your business to import, export and store goods for sale and trade in other free zone in the UAE or to domestic markets outside the UAE. If you want your business wish to trade locally within the UAE, then you would outsource this work to a third-party distributor.

Then, there is the Industrial License in UAQ Free zone. Industrial licenses allow for the import of raw materials (which commercial licenses don’t). The materials can then be manufactured, assembled and packaged to be exported as a finished product.

Consultancy licenses in the Umm Al Quwain free zone on the other hand allow enterprises to offer expert and professional advice to a wide range of professions including artisans and craftsmen. You combine consultancy and commercial trading under the same license obtained for your business in UAQ Free Zone. Similar to consultancy licenses, service licenses also allow you to offer services in a range of industries like logistics, insurance, travel agency, car rental and many more.

  1. No visa package:One of the most interesting, and often useful, benefits offered at Umm Al Quwain Free Zone is the option to apply for a license and set up a business without even needing a visa. If you have a small business and you don’t need to reside in the emirate for the long term, then this would help you to keep costs under check. This is a fantastic option for small businesses, or even individuals who wish to set up with a minimum budget or not looking to relocate to the UAE. It also means entrepreneurs can set up in Umm Al Quwain Freezone even faster, as you don’t need to wait on the visa process before they start operating.
  2. Strategic location:  The location of the Umm Al Quwain Free Zone is one of its biggest selling points. The cost of living is low and the labor is cheap. It is also perfectly placed to do business with the billions of customers across the Middle East and North Africa (MENA) region, Indian subcontinent, the Far East and European markets.

The UAQ Free Zone is located just off the E11 and Sheikh Mohammed Bin Zayed Road. This means that you would get easy access to the city of Dubai as well as Dubai International Airport and the Sharjah International Airport. Both the airports are less than one hour’s drive away. The Umm Al Quwain Free Zone is also within easy reach of the UAE’s main harbors.

  1. Open to a wide range of sectors:UAQ freezone is open to a wide range of businesses. It is not sector-specific as some of the other FTZs in UAE are. So, that gives you greater freedom as well.

If you want to open a business in the UAQ Freezone, then you can open your own company with the help of the Arab Business Consultants. They are regarded as experts in Umm Al Quwain Free Zone Company Formation and they know what you need. So, get in touch with them and take the first step in opening your small business in the Umm Al Quwain Free Zone