UAE promises a conducive business environment with flexible tax laws, top-notch infrastructure, and a high standard of living. In this Free Zone, the entrepreneurs have several business options based on their requirements and budgets. With over 50 free zones, you can choose the most suitable location for your company formation in the UAE. Among the free zones, the Umm Al Quwain Free Trade Zone, located in the Emirate of Umm Al Quwain, is known for its access to global markets, supportive business ecosystem, and world-class infrastructure. In this blog, let’s explore the benefits of starting your business in the UAQ-free zone.
Benefits of starting your business in UAQFTZ
Now, let’s look at the most important question: What are the benefits of setting up your company in the Umm Al Quwain Free Zone? Well, the UAQ Free Zone is a popular choice for small businesses due to its affordability and flexibility. The following are the major perks of having a business setup in the UAQ Free Zone:
- Strategic location
The location of the Umm Al Quwain Free Zone is one of its most enticing factors. In fact, the region is hailed for its low cost of living and labor and ensures access to customers across the Middle East and North Africa (MENA) region. Also, the UAQ Free Zone provides easy access to the rest of the world as it is close to the Dubai International Airport and Sharjah International Airport and the primary seaports in the UAE.
- The faster and easier registration process
The company registration process is faster in the Umm Al Quwain Free Zone. Also, there is no need for a physical office, so you can complete documentation quickly and save upfront costs.
- 100% company ownership
Foreign investors and entrepreneurs commonly prefer UAQ FTS as they can have 100% ownership of their business.
- 0% corporate and personal income tax
Here, you don’t have to pay a single penny as corporate or personal income tax. This will help businesses earn more profits without worrying about taxes.
- 100% capital and profit repatriation
You can take your profits back home without any limits. Also, if you plan to close down your business, you can take your capital to your home country.
- 100% tax exemption for imports and exports with the UAQ Free Zone
If your business involves imports and exports of goods inside the UAQ Free Zone, you will get a 100% exemption from tax.
- Wide range of business activities
You can choose from 1500+ business activities across various sectors.
- No currency restrictions
This Free Zone lets you conduct financial transactions without worrying about currency conversion rates. So, send and receive money for your business from anywhere in the world.
- World-class infrastructure
The UAQ Free Zone has state-of-the-art office spaces, warehouses, and equipment that ensure businesses have the best facilities.
- Dual licensing
This is good news for entrepreneurs who wish to run multiple business ventures. Hence, all you need to do is choose your primary business activity and add a new activity to your existing business.
- Suitable for SMEs
The Free Zone is attracting SMEs with affordable options. Also, you can get a business license in this zone even if you are not in the UAE. The freelance permits, micro licenses available at minimal costs, and visa packages not being mandatory for businessmen are additional advantages for SMEs.
Types of Licenses issued by the Umm Al Quwain Free Trade Zone
The good news is that the UAQ Free Zone provides a wide range of licensing options to businesses. The following are the important licenses that you can choose for your business set up in the Umm Al Quwain Free Zone:
- Freelance permits
- General Trading
Start your Business in UAQ FTZ with BusinessLink
Starting your businesses in the UAE free zones offers various advantages. Not sure how to start your business journey? We’ve got you! We at BusinessLink help entrepreneurs achieve their goals and become successful. We have helped around 10,000 entrepreneurs from 40 different countries. Furthermore, our expert team of consultants can help you to have a seamless process ensuring end-to-end support. Contact us now to set up your business in the UAQ Free Zone and kickstart a rewarding entrepreneurial journey in the UAE.