The United Arab Emirates (UAE) government is working towards creating a robust commercial presence worldwide by providing entrepreneurs access to top-notch infrastructure and streamlined business policies. Because of this, business setup in UAE has become sought-after among foreign investors looking to transition into the Middle East.
One of the reasons contributing to UAE's popularity as an emerging business destination is the Umm Al Quwain Free Trade Zone (UAQFTZ). Establishing a company in the Umm Al Quwain free zone opens the door to multiple opportunities and a slew of benefits.
In this article, we look at the reasons that make UAQ freezone a popular destination for company registration.
Back to topAbout Umm Al Quwain Free Zone
The Umm Al Quwain Free Trade Zone, previously known as Ahmed Bin Rashid Port and Free Zone, has a rich history and is one of the most budget-friendly free zones in the UAE, offering a stable economy. Since 2018, the UAQ Free Zone has been operated by Hutchison Ports (now known as Hutchison Ports UAQ). UAQFTZ is striving to become the first choice for foreign investors by ensuring equal opportunities and benefits to all businesses and remaining customer-focused.
Back to topReasons to Establish an Umm Al Quwain Free Zone Company
Establishing a business in Umm Al Quwain Free Zone is lucrative because of the below-mentioned reasons:
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Streamlined Company Formation Process
For a business setup in the UAQ freezone, there is no requirement for minimum share capital and conducting annual audits. The entire company registration process is easy, with very little paperwork involved and less time needed to incorporate an Umm Al Quwain free zone company, entrepreneurs are drawn to it.
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Financial Benefits
UAQFTZ provide entrepreneurs complete control over business operations, allowing full ownership and profit repatriation. You also get to enjoy other benefits like no currency restrictions, exemption on customs duty and tax benefits.
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Progressive Business Ecosystem
Entrepreneurs can pursue their business goals by accessing high-quality infrastructure at competitive prices in the Umm Al Quwain Free Trade Zone. Investor-friendly rules, excellent customer support and no restrictions on hiring expats also help.
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Better Networking opportunities
Access to the MENA region and a large consumer base helps make strategic alliances by offering networking opportunities.
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Strategic Location
Located in close proximity to Dubai and excellent road infrastructure (highway E 311), UAQFTZ provides easy access to the other Emirates and the GCC countries. Additionally, the facilities provided at Hutchison Port make the UAQ Free Trade Zone a pivotal destination for conducting import-export activities.
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Dual Licensing Benefit
Dual licensing is a provision that allows an Umm Al Quwain free zone company to carry out multiple business operations by adding new licenses to the existing company. This facility makes UAQFZ extremely popular, as entrepreneurs can quickly scale their business while saving on costs and increasing effectiveness.
Download our free guide on setting up a business in Umm Al Quwain Free Zones.
Business Advisors at Commitbiz LLC help solve all the business-related hurdles during the company registration process. From handling documentation to availing a license, we provide end-to-end business solutions. Contact us and take advantage of our comprehensive services at competitive prices.
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