United Arab Emirates is home to highly lucrative and impeccable free zones that are constituted for entrepreneurs, SMEs and large industries. A newest addition to the collection is the formation of Umm Al Quwain (UAQ) free zone. UAQ free zone was established in 2014 in the emirate of Umm Al Quwain that is situated on the western coast of UAE.
Umm al Quwain is the least inhabited state of UAE. With new developments going on, it is emerging as a progressive and prosperous emirate having stable economy. Located just 45 minutes away from Dubai, UAQ is well known vacation destination popular for its desert scenery, vegetation and wildlife. Entrepreneurs around the world are looking for business opportunities in UAQ due to open investment climate and low cost of living and labor.
UAQ free zone has secured its reputation amongst foreign investors with its flexible licensing and modern management. Company formation in UAQ free zone is one of the best low cost, hassle-free and profitable business ventures in the world.
General Benefits Offered by UAQ Free Zone
UAQ free zone provides the key benefits that you would expect i.e.
- Complete exemption from personal and corporate tax
- Complete ownership of the company
- No currency restrictions
- Complete repatriation of capital and profits
- 100% exemption from import and export tax
- No restrictions on hiring foreign employees
- Contemporary and business friendly rules and regulations
These were the general benefits associated with UAE free zones. In UAQ free zone, there are lot more reasons for entrepreneurs to invest. Let us shed light on the facts that make UAQ free zone unique and stand out from the rest.
Reasons that make UAQ free zone unique
Convenient Location for Global Reach
The strategic location of UAQ free zone makes it a prime destination to carry out business.
- UAQ free zone provides access to more than 2 billion consumers of Middle East, Europe, Far East and North African (MENA) markets.
- It is located quite near to Dubai International Airport and Sharjah International Airport; both are less than one hour drive away of it.
- Major seaports of UAE and Sheikh Muhammad Bin Zayed Road also provide access to the free zone.
Quick and hassle free business setup process
UAQ free zone authority provides ease to entrepreneurs for their business setup. You can establish a company in UAQ free zone in as less as 3 to 5 working days. Documentation requirements such as establishment cards, visas, license and other legal documents are processed at a fast pace.
Minimal setup timeline provides a head start to an investor to take care of other important tasks such as office space, handling corporate accounts etc. You do not get swift incorporation benefits in other parts of the world.
Personal Presence not Mandatory for Incorporation
If you want to form company in UAQ free zone but unable to reach or are abroad due to any reason, you can still incorporate it. Personal presence is not required however you have to sign incorporation documents of company and the rest can be dealt by your company formation agent.
Variety Of License Options
Another attractive proposition for entrepreneurs in UAQ free zone is the extent of choice for business license. You can get commercial, industrial, consultancy, service, freelance and micro business license in the free zone.
- Industrial license includes import of raw materials which are manufactured, assembled, packaged and then exported as final product.
- Commercial license include import and export of products in other trade zones or outside UAE with the help of distributing agent.
- Consultancy license gives the permission to give professional advice to variety of professions. You can provide legal consultancy, real-estate consultancy, financial consultancy and much more without the need to get additional approval from other UAE authorities for your company formation.
- Service license allows an individual or company to provide its service in wide array of industries like logistics, insurance, travel agency etc.
- Solo entrepreneurs with low budget can also benefit in UAQ free zone. You can obtain freelance license at a very low cost and need not invest immediately or require office space in the free zone.
- Micro business license is another special option that allows a company to perform cost effectively and does not include visas.
No Visa Package
You can form your company and apply for license in UAQ free zone without need of a visa. This is great option for businesses such as solopreneurs and freelancers as mentioned above, who do not require permanent physical presence and want to start their business with small capital. This feature gives a great kick-start to business setup process in UAQ free zone.
Setup Free Zone Company in UAQ Free Zone with KWSME
KWSME has successfully incorporated hundreds of businesses in Dubai and across UAE. If you are looking to form company in UAQ free zone, our consultants can assist you from scratch till end. We provide company formation services that include choosing your business activity, trade name, legal procedures and paperwork for registration, search for office premises etc. We also provide business support services such as obtaining visas and trademark registration. KWSME offers facilitated packages to its clients for their company formation solutions.
Contact our representatives for further assistance.