Free zone is a particular geographical area in the emirate where 100% foreign ownership is allowed. Free zones do not require partnership with a UAE citizen or with a local service agent.
Umm Al Quwain Free Zone (UAQ) is located in the emirate of Umm Al Quwain, which is a 45 min ride from Dubai International Airport and International Airport of Sharjah.
Umm Al Quwain Free Zone was established in 1987 under a different name and it was in 2014 when the freezone was re-named into UAQ FTZ.
UAQ exercises the experience of the older free economic zones. Management of Umm Al Quwain Free Zone decided to give its clients a possibility to get any type of license, including freelancer license. Clients can rent a flexi-desk, office, working space in a business center or lease a warehouse or a plot of land.
minimum share capital requirement amounts to AED 300,000 (USD 82,192). Share capital may be reflected in statuary documents without actual transfer of funds into bank account.
1 year only, as in any other emirate, after which the license needs to be renewed.
There is no annual audit requirement.
Company’s license is due for renewal prior to its expiration date, otherwise, penalties for late renewal apply.
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