18-Year-Olds Can Pursue Entrepreneurship with UAQ Free Trade Zone's Startup Accelerator Programme
Calling out to all those youngpreneurs out there! Do the names Mark Zuckerberg, Matthew Mullenweg, or Blake Ross ring a bell? All these world-famous entrepreneurs started their companies before they were twenty! If you are an 18-year old with a breakthrough idea that could impact the world, now is the time for you to join this list of passionate entrepreneurs who have made a mark with their businesses by availing of the world-class facilities at Umm Al Quwain Free Trade Zone in the UAE.
The UAQ Free Trade Zone, one of the UAE’s fastest growing startup accelerators, now opens its doors to young entrepreneurs all around the world who want to make the most out of the revised UAE Commercial Transaction Law. Our goal is to provide young entrepreneurs with the legal platform, resources, and guidance they need to showcase their business ideas to the world.
The multiple licenses and superb facilities at the UAQ Free Zone come at cost-efficient pricing, which helps young entrepreneurs reduce capital expenditure, a critical factor in their initial years.
Other financial benefits include:
- 0% corporate and personal tax
- 100% capital and profit repatriation
- 100% company ownership
- No currency restrictions
- 100% import and export tax exemption within the Free Zone and outside GCC countries.
With the implementation of the UAE's updated Commercial Transaction Law, any resident of the country who has turned 18 will be qualified to start a business or engage in trade going forward.
The UAE law is now consistent with the majority of international regulations because the age cap has been lowered from 21 years.
The law in the UAE was recently changed to allow individuals under the age of 18 to become shareholders in a company. In an LLC, he or she can also become the only owner and director. On the MoA, no guardian signature is necessary.
Entrepreneurship is on the rise in a rapidly growing digital economy, and at a young age as a new generation of digital natives enters the industry. In addition to the obvious boost it gives the younger generation considering a quick transition into business, the age revision will be very helpful for succession planning at family-owned businesses.
To understand how you can access countless resources from the UAQ Free Trade Zone to help you become a successful, professional entrepreneur, click here