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The most cost-effective Free Zone in UAE
UAQ FTZ is situated in Umm Al Quwain, which is one of the seven Emirates that form the United Arab Emirates. Umm Al Quwain is a welcoming, progressive and prosperous emirate with stable economy and modern infrastructure. This emirate is renowned for its desert landscape and unique flora and fauna, which is also becoming a preferred leisure destination within the UAE.
UAQ FTZ is close to the UAE’s primary sea and air ports. For instance, it is located within one hour’s drive of Dubai International Airport (DXB) and Sharjah International Airport, which enables easy and fast access to the rest of the world.
UAQ FTZ is comparatively a new free trade zone in the UAE. However, thanks to its investor-friendly environment and legal framework, cost-effective business setup and leasing options, easily accessible location and flexibility, it has become one of the sought-after free zones within short period of time. It is mostly beneficial for freelancers, micro-businesses and SMEs. In addition, as a free trade zone it allows 100% company ownership and zero tax and no currency restrictions.
UAQ Free Trade Zone offers following license categories:
- Commercial License – allows all types of trading, import, export and re-export activities of specific types of goods such as ready-made garments, food and beverage, textile, building materials, furniture and many others.
- General Trading License– allows all types of trading, import, export and re-export of all types of products except for certain goods that require special approval such as tobacco, alcohol, pharmaceuticals and crude oil.
- Consultancy License– allows to carry on consultancy business, for instance, Management Consultancy, IT services, Accounting Services, HR Consultancy Services.
- Service License – permits to carry out the services specified on the license within the Free Zone, such as Logistics; Courier Services; Insurance Service Provider; Travel Agency; Tour Services; Car Rental etc.
- Premium Consultancy License– allows special consultancy activities such as Real Estate Consultancy, Tourism Consultancy, Oil and Gas Consultancy, Engineering Consultancy, Legal Consultancy, Financial Consultancy, Investment Consultancy, Shipping and Logistics and Aviation Consultancy.
- Premium Commercial License – allows to carry out shipping related activities and investment activities such as Ship Charter, Freight Broker, Sea or Air Freight & Passengers Charters, Investment in Commercial Enterprises & Management, Investment in Sport Enterprises & Development, Assets Management, Well Drilling & Oil & Natural Gas Development Abroad, etc.
- Industrial License – allows the holder to import raw materials, carry out the manufacture of specified products and export the finished product to any country. For instance, Corrugated Carton Boxes & Container Manufacturing, Packing & Packaging Materials Manufacturing, Gypsum Products Manufacturing, Dairy Products Manufacturing, etc.
Company Types
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- Free Zone Establishment (FZE): A single shareholder can form a Free Zone Establishment (FZE). The shareholder can be an individual (a person), or a non-individual (company). An FZE is essentially a limited liability company within the Free Zone, which means the liability of the shareholder is limited to the company’s assets. Personal assets of the investor are protected and limited to the amount invested into the company.
- Free Zone Company (FZCO): An FZCO is entity established by min. 2 up to 50 Shareholders can be individuals or companies or combination of both. It is a Limited Liability Company within the Free Zone, which means the liabilities of the company are limited to the company’s assets. Personal assets of the investors are protected and limited to the amount invested into the company.
- Branch: A branch is considered a legal entity of its parent company. The Branch Company is fully owned by the parent company, operates under the identical name and conducts the same business activities.
Key Advantages:
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- 0% corporate and personal tax
- 100% company ownership
- 100% repatriation of capital and profits
- 100% import and export tax exemption
- No paid up share capital required
- No currency restrictions
- Simple and fast registration process
- Hi-tech office and warehouse facilities
- Ideal solution for SMEs and micro-businesses
- Close to two international airports and sea ports
- Wide range of business activities permitted
- No restrictions on hiring foreign employees
- Modern and investor-friendly legal framework
- Minimum documentation