Ahmed Bin Rashid Port & Free Zone were established in the year 1998 by Sheikh Rashid Bin Ahmed Al Molla, the ruler of Umm Al Quwain. It is 55 km away from the Dubai International Airport and is located on the West Coast of the United Arab Emirates. The free zone provides a comprehensive administrative and logistics support to the tenants. It was primarily formed to promote the dynamic growth of the region and serve as a global trade center for local and foreign investors. Since its inception, passing through extensive developments, Ahmed Bin Rashid Free Zone has risen as a flawless opportunity for the establishment of startups and expansion of already established businesses in the UAE.
Setting up business in Umm Al Quwain free zone is a straight-forward process. The free zone authorities are trying to minimize the registration process so that they can bring in more entrepreneurs to set up their business in the free zone jurisdiction.
Benefits of Setting Up a Business in Ahmed Bin Rashid Port & Free Zone
- 100% business ownership
- 100% tax exemptions
- No custom charges
- Access to massive storage services
- Low-cost operations
- Access to high-tech infrastructure, logistics, and technologies
- 100% repatriation of capital and profits
Types of Licenses in Ahmed Bin Rashid Port & Free Zone
1. Commercial License
It allows the import, export, distribution, and storage of goods and services for the items specified on the license.
2. General Trading License
It allows the licenses to trade in more activities and enables more freedom and flexibility for trading any commodity permitted.
3. Industrial License
It allows the import of raw materials leading to manufacturing, processing, assembling, packaging of specific products and exporting of end products.
4. Consultancy License
It is issued to the companies who provide professional advice.
5. Freelance License
Having this license enables a person to conduct business as a freelance professional, using his/her name instead of a company name.
6. Service License
It allows the license holder to provide the services that are specified on the license inside the free zone.
Types of Business Entities in Ahmed Bin Rashid Port & Free Zone
- Free Zone Establishment (FZE)
- Free Zone Company (FZC)
- Branch of a Local Company
- Branch of a Foreign Company
How to Set Up a Business in Ahmed Bin Rashid Port & Free Zone?
The Ahmed Bin Rashid Port and Free Zone are investor-friendly as it provides a prosperous, safe, and secure business environment. To register your business in this free zone, you need to follow these steps:
- First, decide which license is most applicable to the business requirement and the type of business entity that you want to have for your business
- Next, download an application form from the official website and fill it promptly
- You will get a receipt after you pay for the application. You can then send the form to the Umm Al Quwain Free Trade Zone Authority
- Once provisional approval has been given by the free zone authorities the Company or their legal representative will be called for a meeting to discuss and get complete information about the company and its activities
- The Authority will then prepare Lease Agreements for signature from the company officials
- When the agreements have been prepared a meeting between the company and the authority will be arranged, during which the Lease Agreements will be signed
- The applicant Company will then be asked to pay the License fee prior to the issue of the aforesaid License
- The lease agreement between the authorities and the applicant company will be for a period of fifteen years with an option of renewal
- The last step is the issuance of Certificate of registration and Incorporation after which you can kick-start your business in the free zone
Under the Agreement of lease and secondment, the Authority will sponsor staff on behalf of the company. Applications for entry permits may be submitted once the Lease & Secondment Agreements have been signed, Special License issued and construction commenced. Staff sponsored by the Authority may not obtain employment outside the free zone in the UAE.
Why Set Up a Company in Ahmed Bin Rashid Port & Free Zone?
The free zone not just provides flexibility of work but also gives an added advantage of geographically strategic location. Standard services of water, electricity, communication, and labor accommodation are also available here. So, if you are keen on setting up a business in UAQ’s Ahmed Bin Rashid Free zone, we at Commitbiz can help you with the registration process. Our advisors are well aware of the legal framework and can make this process smooth and easy for you. Contact us today, even if it’s for a friendly advice.