The Umm Al Quwain Free Zone (UAQFZ) is located in Umm Al Quwain, a sparsely populated emirate in the United Arab Emirates. Founded in 1987, it was unknown until the restructuring took place in 2014 and the facilities and services went on sale. The Umm Al Quwain United Arab Emirates (UAQ) is just 45 km from the Emirate of Dubai. UAQFZ is just an hour's drive from Dubai Airport and is close to major ports in the United Arab Emirates (UAE).
UAQFZ is controlled and regulated by the Umm Al Quwain Authority (UAQA) with the support of the UAQ Government. Free zones are one of the best places for business development because UAQFZ companies have easy access to all modes of transportation.
UAQFZ provides the following benefits to companies operating in the UAQ free zone.
- Complete company ownership
- 100% tax exemption environment
- Cheap rental options for warehouse and office space
- Cheap licenses for various activities
- Repatriation of unrestricted capital and profits
- Hire foreigners as employees without restrictions
- 100% tax exemption for import and export tax that works in the free zone
- No stock capital requirements
- Fast, simple and easy registration process
- Investor-friendly laws and regulations
- Low cost of residence visa
- No health insurance required for residence visa
- A special concession for your company via the port of the Umm Al Quawain Free zone. The locations are ideal for small businesses and micro businesses.
Companies doing business within UAQFZ should audit their books and businesses for the following reasons:
- The External Audit Report provides the company's stakeholders with all the details and information needed to ensure that the company's business complies with all relevant rules. Rule.
- External audits ensure that the company's shareholders and other stakeholders are prepared with the company's annual financial statements in accordance with all applicable accounting standards.
- The audit report also provides UAQFZ and the shareholders of the company with the assurance that their annual financial statements are free of material misstatement and that they are credible in important business decisions.
- Audit reports also help enterprise ownership by identifying control weaknesses, frauds, and errors.