Mimo Legal Consulting

Umm Al Quwain Free Trade Zone (UAQ FTZ) is a new gateway to start your business in the 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. Thus, Umm Al Quwain Free Zone offers following benefits:

  • 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

Following license categories exist in Umm Al Quwain Free Trade Zone for conducting business activities.

1. Commercial/Trading License - under the commercial licence all types of trading, import, export and re-export activities can be conducted for certain types of goods such as ready-made garments, food and beverage, textile, building materials, furniture and many others.

2. General Trading License - this is popular among international traders because almost all types of products can be traded under this license. However, certain goods such as tobacco, alcohol, pharmaceuticals and crude oil are not allowed and require special permission.

3. Consultancy Licence – the consultancy licence is issued to those who plan to carry on consultancy business, for instance, Management Consultancy, IT services, Accounting Services, HR Consultancy Services.

4. Premium Consultancy Licence - This licence 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.

5. Micro Business Licence – Micro Business Licence is a suitable license for start-ups who want to setup a business with minimum budget and do not need a physical office and a residency visa. The activities that can be conducted by Micro Business License can be those that fall under commercial license or consultancy license.

6. Freelancer Permit - This is permit for individuals who carry out professional activities as freelancers using their skills, specialty or expertise. For example, photographers, event planners, musicians, performers can opt for this permit to conduct business without incurring much business setup costs.

UAQ FTZ is the free zone of the future, where companies can enjoy doing business in a safe, secure and prosperous environment.

If you are interested to setup your business in UAQ FTZ, you can check our special business setup packages here. Or you can call us on +97144449481 or email contact@mimolegal.com for more details.

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