Umm Al Quwain Freezone
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Introduction:
Umm Al Quwain Free Zone (UAQ Freezone) is a free economic zone located in the emirate of Umm Al Quwain in the United Arab Emirates (UAE). It was established in 2014 and offers a range of business setup options for both local and international companies.
The UAQ Freezone is strategically located between the ports of Dubai and Sharjah, with easy access to major airports and seaports. It is well-connected to major highways and is just 45 minutes away from Dubai International Airport.
The freezone offers various business activities including trading, consultancy, industrial, and service activities. Companies can choose from various types of business licenses, including commercial, industrial, and service licenses.
The UAQ Freezone provides several benefits for businesses, including 100% foreign ownership, 100% repatriation of capital and profits, no corporate or personal income taxes, and no currency restrictions. Additionally, the freezone offers modern infrastructure, advanced communication facilities, and flexible office solutions.
Overall, the UAQ Freezone is a popular destination for businesses looking to set up a company in the UAE due to its strategic location, favorable business environment, and range of business setup options.
Start your company in Umm Al Quwain Freezone?
Starting a company in Umm Al Quwain Freezone is a straightforward process. Here are the general steps:
Choose your business activity: The first step is to decide what type of business you want to establish in the UAQ Freezone. The freezone offers a variety of business activities, including trading, consulting, industrial, and service activities.
Choose your company name: Next, you need to choose a name for your company. The name should be unique and not already registered in the UAE.
Choose your business license: The UAQ Freezone offers various types of business licenses, including commercial, industrial, and service licenses. You should choose the license that best suits your business needs.
Submit your application: Once you have chosen your business activity, company name, and license, you can submit your application to the UAQ Freezone. You will need to provide various documents, including your passport, visa, and business plan.
Get your business license: After your application is approved, you will receive your business license. This will allow you to operate your business in the UAQ Freezone.
Set up your office: Once you have your business license, you can set up your office in the UAQ Freezone. The freezone offers flexible office solutions, including serviced offices and virtual offices.
Open a bank account: Finally, you will need to open a bank account in the UAE. This will allow you to conduct business transactions and receive payments.
Overall, starting a company in Umm Al Quwain Freezone is a straightforward process. However, it is recommended that you seek the advice of a professional business consultant to ensure that you meet all the legal requirements and make the most of the benefits offered by the freezone.
Benefits of Umm Al Quwain Freezone
100% foreign ownership: One of the main benefits of setting up a business in the UAQ Freezone is that you can have 100% foreign ownership. This means that you can fully own and manage your business without the need for a local partner.
Tax benefits: Another significant benefit of setting up a business in the UAQ Freezone is that there are no corporate or personal income taxes. This can significantly reduce the cost of doing business and increase your profit margins.
Repatriation of capital and profits: You can repatriate 100% of your capital and profits, which means you can transfer your funds outside of the UAE without any restrictions.
Strategic location: The UAQ Freezone is strategically located between the ports of Dubai and Sharjah, with easy access to major airports and seaports. This makes it an ideal location for businesses that rely on importing and exporting goods.
Modern infrastructure: The freezone offers modern infrastructure and advanced communication facilities, including high-speed internet, telecommunication services, and advanced security systems.
Flexible office solutions: The UAQ Freezone offers flexible office solutions, including serviced offices and virtual offices. This can save you the cost of setting up and maintaining a physical office.
Wide range of business activities: The UAQ Freezone offers a wide range of business activities, including trading, consulting, industrial, and service activities. This provides businesses with the flexibility to choose the activity that best suits their needs.
