About Um al Quwain Freezone
Umm Al Quwain Free Zone is a newly formed Free Zone. It started operation in 2014. There are more than 25 free zones in the UAE. Many are located in Dubai. However there are four free zones close by in other emirates which offer good options for forming a new business.
Umm Al Quwain Free Trade Zone is one such Free Zone located 50 minutes away from Dubai Airport in the Emirate of Umm Al Quwain. It is 6 km from Sharjah and 20 Km from Dubai. It can be approached easily from the old Emirates road as well as from the roads near the sea shore in Sharjah old town. The head office of the Umm Al Quwain Free Zone Authority is located near approach to the town of Umm Al Quwain.
Umm Al Quwain Free Zone authority is government backed autonomous arm of Umm Al Quwain emirate in the UAE which is authorized to incorporate business companies with “trade licence”. Umm Al Quwain Free Zone companies enjoy the same legal status inside the UAE as any other Free Zone company in the matters of trade, contracts, imports, exports, visa and banking.
Umm Al Quwain Free Zone has been operating as an autonomous free zone. It has promise to grow rapidly in the next few years because of the advantages it offers particularly to those looking for economical set up and running costs as well as variety of licences.
Like other free zone companies Umm Al Quwain Free Zone company can be owned 100% by the foreign owners- a company or individuals, it is tax free and can import into Free Zone duty free.
This means that the Umm Al Quwain Free Zone companies engaged in international trade can release their goods and keep them as stocks meant for re-export without payment of customs duties. Umm Al Quwain Free Zone company can freely do business internationally.
Like other free zones Umm Al Quwain Free Zone company can sell goods in the local markets by using the services of a local trader. Service companies can deliver services from inside the Free Zone into UAE and to other countries.
Like any other free zone company it can use the Dubai’s seaports and airports for shipment of goods by registering the company in Dubai customs to get an import code. This makes it possible to take advantage of Umm Al Quwain Free Zone’s lower costs and Dubai port’s services. Of course the goods released in a port say Jebel Ali port in Dubai must either stay inside or be taken out by paying customs duty to be taken to Umm Al Quwain Free Zone company.
Umm Al Quwain Free Zone company can open a bank account in a bank branch in Dubai. The company can and must take an office inside the Free Zone areas in Umm Al Quwain. The minimum office category available is ‘flexi desk’ in their own Business Centre. The company can take residence visas for its employees and owners who can live anywhere in the UAE
Finally What is special about Umm Al Quwain Free Zone
This free zone has three licences which are specially designed for needs of businessmen looking for activities not easily allowed elsewhere, for single professionals, and for most economical options. These special licences are Premium Consultancy, Micro Business, Freelancer Permit. They are shown below. Also unlike most free zones the company can be formed without owner being present in the UAE by using consultant’s services.