For those looking for cost-effective ways for company formation in the UAE, Umm Al Quwain (UAQ) free zone is one of the most attractive free zones due to its low-cost business setup solutions. The popularity of the UAQ free zone is increasing among global investors and entrepreneurs owing to its modern management and flexible licensing solutions. 

Built on a narrow peninsula called Khor Al Beidah, the emirate of Umm Al Quwain is majorly cherished for its long clean beaches, natural raw beauty, ancient forts, an enclosed lagoon, a multi-million dollar water park, and a natural reserve with a plethora of bird species, deers, and rare flora. That’s why it also attracts tourists in large numbers. 

In this blog, we will discuss how the business setup in the UAQ free zone is beneficial for entrepreneurs and investors worldwide.

• Fast and Easy Business Setup 

One of the best things about forming a company in the UAQ free trade zone (UAQ FTZ) is that the whole setup process can be completed within 2 days to 2 weeks. This means entrepreneurs can set up their businesses without having to wait for long. 

• A Vantage Point for Businesses

Within a one-hour drive from Dubai International Airport and proximity to the UAE’s main seaport, Umm Al Quwain (UAQ) is an ideal business setup location in the Arab world, especially for micro-businesses and SMEs. As a result, one can easily do business in the UAQ FTZ across the Middle East and North Africa (MENA) region, subcontinent, and the Far East and European markets. Moreover, like other Emirates, the UAQ has also established its route to India to open more opportunities for business prospects.

• No Requirement for Physical Presence

Another major advantage of company formation in the UAQ free zone is that you can set up and run your business even if you are not physically present there. It provides you with the leverage to form a company when abroad without worrying about having to come all the way down to just sign the documents. You can sign the required documents and then courier them to your business setup consultant or agent who can finish the registration process on your behalf. 

• Variety of Business Opportunities

The most common businesses that flourish in the UAQ very well are based on hotels, parks, fisheries, tourism, and general trading activities. Besides, UAQ is also a major boating center in the UAE as it produces around 20 boats in a year while Dubai just 10 and Sharjah only 5. 

The emirate and its free trade zone are set to evolve and progress rapidly. Hence, entrepreneurs with new business ideas can benefit from the business environment, culture, and support it gets from its government. 

• Availability of Various Licenses 

In the UAQ free trade zone, business prospects can choose from many licenses. However, for that, you should consult with business setup experts to know the complete list of activities allowed there and figure out under which license your planned business activity falls. Here is the list of available licenses:

• Commercial License
• Consultancy License
• Industrial License
• Service License
• General Trading License
• Freelance Permits

• Ideal for Micro-Businesses

The free trade zone of Umm Al Quwain offers a low cost of living and labor. As such, a business setup in the UAQ free zone makes the ideal choice for SMEs and solo entrepreneurs with a limited budget. In fact, Umm Al Quwain free trade zone is in itself a planned initiative by the UAQ government to provide the required infrastructure and incentives to make the business community stronger.

In addition to this, business owners in the UAQ free zone also enjoy other benefits, such as zero personal and corporate tax, 100% foreign company ownership, 100% repatriation of capital and profits, a wider range of warehousing, land, and office space options, No NOC from the current sponsor to register a company, no need of audit reports, no need of visa deposit, and so on. 

To learn more about the UAQ FTZ’s local aura of business, regulations, and benefits in more detail and make your business setup process easier, it is highly recommended to consult and hire business setup consultants as they will help you avoid any obstacles and make the entire setup process seamless and smooth.