The Umm Al Quwain Free Trade Zone (UAQ FTZ) has started construction on an ambitious two million square metre expansion to create a sustainable industrial ‘Smart City’, where small and medium enterprises, Fintech start-ups, R&D centres, logistics, outsourcing and alternative power-related industries can flourish.
“We are building a smart city where residents will be able to ‘walk to work’. The city will function as an independent business and industrial hub, with amenities for families and employees such as schools, hospitals, hotels, shopping malls and even an art and exhibition centre,” said Sheikh Khalid Bin Rashid Al Mu’alla, chairman of UAQ FTZ.
“The new free zone location is poised to become a strategic economic hub and is conveniently located near the highly accessible state highway, Sheikh Mohammed Bin Zayed road, connecting UAQ with the emirates of Sharjah, Dubai and Abu Dhabi. Proximity to two international airports as well as multiple seaports, make it logistically ideal.”
Construction began in March, with plans for Phase 1 to be completed in March 2020. This includes new warehouses, laboratories, R&D facilities, as well as alternative power facilities.
The UAQ FTZ is aiming to be the most cost-effective ‘Smart City’ option in the UAE, after Dubai Silicon Oasis and Abu Dhabi Masdar City. In January, UAQ FTZ waived security deposit fees for the UAE’s E-Channel smart service system for companies requiring residency and naturalization services, which was introduced in early 2018.
Umm Al Quwain is the second smallest and the least populated emirate in the UAE. Located just 45 kms from Dubai, UAQ’s stable economy, open investment climate and low costs of living and labour make it a strategic business base with the MENA region. UAQ is served by Port Ahmed Bin Rashid Al Mualla and is within close proximity to airports in Ras Al Khaima, Sharjah Airport and Dubai.
The UAQ FTZ is particularly suitable for business start-ups, as well as clients that wish to test the UAE market with low cost government and administration fees. The key benefits offered by the UAQ FTZ include:
- Cost effective packages
- Commercial and Consultancy Licences can be issued within two working days
- Ultimate Beneficial Owner (UBO) is not required to be present at time of registration
- Easy administration procedures
- Variety of licences offered – Commercial, General Trading, Industrial, Service and Consultancy – as well as Freelance Permit.
For any enquiries on setting up in the UAQ Free Trade Zone, please contact Obida Zoubi.
