Umm Al Quwain Free Trade Zone (UAQ FTZ) is located in the emirate of Umm al-Quwain where the infrastructure and business environment are made in a way to enhance the investment. The environment is very progressive and prosperous which is making it ideal for the micro businesses as well as SMEs.
For starting a business in any free zone, the business must first obtain the trade license. As the business set up systems are quite simpler here, the licensing solutions are flexible and modern too. The things get managed out quite easily because of the legal consultants in UAE. They handle everything on behalf of the companies and help them invest here in UAE to get huge popularity.
Free zones have great benefits which are not present in other zones. That is why people from other countries prefer free zones. The benefits of starting a company in Umm Al Quwain are;
- The fast and easy company set up
Fast and easy business set up is considered to be one of the major benefits in setting up a company in UAQ. It helps the foreign investors in speeding up the setups resulting in rapid growth of the UAQ FTZ. Also, the business set up processes is very easy which makes the business to form in just 2 to 3 weeks only.
- Low set up the cost
The business set up cost is comparatively lower here in UAQ which makes the new entrepreneurs with limited capital get attracted towards it.
The strategic geographical locations of the free zones, anywhere, matter to a great extent. Same is the case in the UAE. The location of the UAQ free zone makes it better for the labour as it allows low-cost living. Also, businesses here can attract millions of customers from different regions. Additionally, this free zone is near the UAE’s main seaport, Dubai International Airport, and Sharjah International Airport which eases the trade issues.
- Great for Small Entrepreneurs
SMEs and micro businesses can get benefit from this free zone because it helps in business formation even in small budgets. Different incentives are also issued by the government to reach the level they want to reach. So, if anyone thinks they have limited resources, they can count on this free zone and get the benefit of different incentives to start their dream project.
- Affordable Licenses
The licenses for Umm Al Quwain free zone are quite low priced. The license fee begins with almost 13,500 AED. The businessmen should first apply for the license to start their micro business. It is to be noted here that the licenses are not qualified for the visas. If people need resident visas, they must first pay the cost of 2,500 AED for visa purpose. This is the cost of a single investor visa for 3 years.
- No Personal Presence Required
If business firms need to set up a company in UAQ free zone while staying abroad, they can easily do so. All they would need is signing the incorporation documents. After signing them, they would need to courier them to the agent they have appointed so that the agent may finish the registration on behalf of the company by UAQ authority.
- A number of License Options
The entrepreneurs can get different types of licenses in Umm Al Quwain free zone. They can get commercial, industrial, consultancy, service, freelance as well as a micro business license in UAQ free zone. The license types they acquire will be dependent upon the type of business activity they choose to perform.
- 0% corporate and personal tax
The business which gets formed here in Umm Al Quwain free zone will not have to pay tax. This means the business will be able to get all the perks and profit from the business without having to pay any tax on them.
- 100% ownership
There will be no need of a local sponsor to form a company in Umm Al Quwain free zone.
- 100% repatriation of capital and profits
The company will be able to enjoy all the profit on its own.
- No currency restrictions
There are no currency restrictions on the businesses formed in Umm Al Quwain free zone for trading purposes.
- No restrictions on hiring employees
There are no restrictions on hiring foreign employees in this free zone. It means you are free to hire foreign employees without having to face any sort of difficulty.
This is not all. There is so much more this free zone offers. All that needed is a good business plan and then the business would be free to carry out its activities after getting the required license. The facilities are up to the mark and the office spaces are great too. Along with such opportunities, Umm Al Quwain free zone offers the friendliest and the most modern rules and regulations which makes it easy for the investors to invest in here or start their own companies.
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