BUSINESS SETUP IN UMM AL QUWAIN FREE ZONE
BUSINESS SETUP IN UMM AL QUWAIN FREE ZONE with AIG Corporate Services Provider
Umm al Quwain Free Zone Company Formation
Umm al Quwain Free Zone is the only industrial zone in UAE that offers Free Trade Zone and Industrial Zone services. It has been established to serve as both a business and commerce center for the Northern Emirates, and specifically Umm Al Quwain. The Free Zone is a self-contained world where everything necessary for business success is available in one easy location.
- The Free Zone provides companies operating within it with 100% tax exemption on income generated from sales or services provided.
- There are no restrictions on profit repatriation.
- No income tax or any other taxes are applicable on locally generated profits, import of capital equipment, raw materials and products is permitted free of duties and taxes.
- Free customs warehousing service is offered by all Customs Houses located in the Free Zone.
- Free Zone companies enjoy a 100% ownership of their assets and are free from any government interference in the management of their assets and businesses.
- Companies can import their own labor force into the Free Zone for employment purposes without requiring work permits or visa sponsorship.
- All infrastructure facilities are provided by the Government. This includes roads, electricity supply networks, telecommunication networks, water supply networks, sewage disposal network and uninterrupted power supply network in all buildings within the Free Zone.
Benefits of Business Setup in Umm Al Quwain
UAE Government has recently approved new legislation to encourage entrepreneurship in the country with a view to attract foreign investors and create job opportunities for the Emirati nationals. The government has approved incentives for foreign investors willing to set up a business entity or branch office in Umm Al Quwain Free Zone Authority.
The incentives include:
- 100% foreign ownership allowed.
- No income tax on profits.
- No corporate, income or sales tax.
- No exchange controls/custodian account required/free repatriation of capital and profits.
- Duty free import of plant & machinery and raw materials (minimum import value AED 500,000).
- Import of goods under customs bond with no duties payable (minimum import value AED 10,000).
- Unlimited repatriation of money from the zone by banks or authorized money transfer companies. The funds can be used for any purpose including remittance to parent company or other branches.
Free Zone in Umm Al Quwain
For best performance of your business, you need to choose a suitable business model. AIG provide following services for business owners:
- Mainland, Free zones or Offshore company registrations in all Emirates of UAE and
- Opening bank account with all local leading banks
Speak to our experts for assistance for registration of your company. We provide economical cost service, complete guidance and assist in completing all formalities.
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