Umm Al Auwain Free Trade Zone has so far registered and licensed 850 companies while infrastructure development on Phase 2 has begun.
The government has allocated additional land of approximately 4 sq km which can be leased out to customers.
Additionally it is constructing warehouses, offices and residential buildings to meet demand, said Sheikh Khalid bin Rashid Al Mualla, Crown Prince of the emirate.
Though the primary aim was to attract SMEs and micro businesses, with the influx and demand from the UAE business community, UAQ Free Zone hopes to welcome more white-collar businesses into Umm Al Quwain.
“Investors are in for a bagful of incentives in UAQ FTZ like 100 per cent foreign ownership, repatriation of capital and profits, no currency restrictions, no corporate and personal income tax and 100 per cent import and export tax exemption.
Sultan Saeed Sultan Al Ali, executive director of Ports, Customs and Free Zone Corporation, said: “We believe that registering a company with us is the start of a relationship. In addition to the fast company setup, we maintain swiftness in amendments and all other operational aspects. We want our clients to fully concentrate on developing their business rather than being troubled with long procedures.”
According to UAQ FTZ general manager Johnson M. George, there are various features differentiating them from other free zones, which include the cost, documentations, procedures, types of activities, regulations and so on.
“Our investors are mainly from the Asian subcontinent, CIS Countries, UK and France. In keeping stride with the UAE’s vision of sustainable economic development, UAQ FTZ is keen on opening its arms to innovation, clean and sustainability-focused businesses. We welcome companies of innovation and development in the sectors of renewable energy, education, health, technology, water and space. We are also welcoming clients engaged in the activities of back offices, call centres, outsourcing, alternative power related industries, R&D hubs, professional consultancy firms, logistics and even assembly units”, he said.
“We issue micro business and freelancer permits. Furthermore, we act as a one stop shop for our clients. We assist them in visa and residency matters, business promotions etc. We welcome investors to join us for a great success” concluded George.
