Umm Al Quwain Free Trade Zone (UAQFTZ) and Zoho Books join hands to benefit investors

  • Helping SMEs drive economic growth in the MENA region

As part of its innovative mission to nurture entrepreneurship in these challenging times, UAQ FTZ has announced an association with Zoho, the global technology company that offers the most comprehensive suite of business software in the industry, to make accounting easier for SMEs.

“We are intensifying our economic support to our investors through premium benefits by joining hands with Zoho,” explained Mr Johnson George, General Manager of UAQ FTZ, adding: “ We are committed to supporting SMEs in these tough times, as they are the backbone of economic growth; fostering growth and innovation.”

All new and existing UAQ FTZ investors will get free access to Zoho Books - an FTA accredited, VAT-compliant accounting solution to maintain company accounts on their own. The Professional Plan of Zoho Books will be offered for a period of 6 months, and the investors will have access to:

  • Powerful accounting capabilities like VAT-compliant invoices, VAT returns, online payments, bank reconciliation, handle imports and exports, manage trade to designated zones, apply reverse-charge, audit trails and more. 
  • Customer support services through telephone, online chat, email, and access to help documentation, recorded videos and live webinars.

Mr. Prashant Ganti, Head of Product Management, Global Tax, Accounting, and Payroll solutions, Zoho Corp, said: “For SMEs, choosing the right technology partner is one of the most important decisions they make. They need a simple yet scalable system that also improves productivity. With this partnership, UAQ FTZ members will get access to a powerful accounting system that will enable them to easily fulfil their tax obligations, manage their finances better and improve their cash flow by allowing them to accept online payments. This partnership will help us in forging a stronger relationship with the SME sector and strengthen our operations in the region."

Winner of the Qadat Al Tagheer Award for the “Best Free Zone for Startups and SMEs” at the 5th UAE - India Economic Forum (UIEF), UAQ FTZ has been a driving force for Start-up and SME growth in the MENA region, as it delivers unrivalled value to its 7000+ investors through innovative incentives which include rental holidays, license extensions and reduction in service fees to buffer the business impact of the pandemic.