
UAE’s Ministry of Economy steps up campaign on ownership rules
Free zone companies face substantial fines if they haven’t registered details of ownership with licensing authorities by June 30
SMEs, startups, and mixed companies can find Umm al Quwain (UAQ) to be an ideal business destination. It provides a highly profitable market climate as well as several attractive business rewards. The free zone is intended for a variety of economic activities such as trading, manufacturing, and professional services.
The Umm al Quwain Free Zone is located near Sharjah and Ajman gateway, close to the Umm al Quwain Seaport, and has good connections to Sharjah International Airport. The Emirate is located on the UAE’s west coast and is well-known among tourists for its desert terrain. The economy has a high quality of living while still being cost-effective.
There are some significant advantages to establishing a company in UAQ.
The registration and licensing of the business involve these general steps:
Free zone companies face substantial fines if they haven’t registered details of ownership with licensing authorities by June 30
The Ministry of Finance has announced the issuance of UAE Cabinet Decision No. (49) of 2023, which pertains to the
New visa initiative to contribute to the growth of tourism sectors and also attract high net worth individuals in UAE.
Retirees must fulfil one of the stipulated conditions to be eligible for residency.