June 2022
Umm Al Quwain Free Trade Zone
Expert Talk
Mariia Hordiichuk
Re/think ME LTD
Tax Manager
UAE Corporate Tax Update – Impact on Free Zone businesses 
On 31 January 2022, the Ministry of Finance (MOF) announced that the United Arab Emirates (UAE) will introduce a Federal Corporate Tax (CT) on business profits effective for financial years starting on or after 1 June 2023.

Since the announcement, the  MOF released a Public Consultation Document on CT (Consultation) that contains information on the proposed UAE CT regime.

In this alert, we have captured certain key aspects concerning CT impact on Free Zone businesses in the UAE.

Start Your Dream Business with EMI as low as AED 786/Month
UAQ FTZ now offers an affordable payment plan for our new and existing clients on their new license or renewal packages in association with our partner.
UAE news bulletin
The UAE tops the Arab world in attracting foreign direct investments

The United Arab Emirates has been ranked as the best country in the Arab World in terms of attracting Foreign direct investment (FDI) for 2021, according to the newly released United Nations Conference on Trade and Development’s (UNCTAD) World Investment Report 2022.
The UAE is all set to enter a new era of development through ‘markets of tomorrow’ initiative

The UAE government, in partnership with the World Economic Forum, launched the “Markets of Tomorrow” initiative, which aims to create new business accelerators that will prepare the UAE's national economy.
The India-UAE "Start-Up Corridor" to boost the startup ecosystem

FICCI LEAD, the Federation of Indian Chambers of Commerce and Industry's (FICCI) technology and business incubator, the Dubai International Financial Centre (DIFC) have signed a MoU to establish the "India-UAE Start-Up Corridor."

UAE: A new classification for private companies announced

Dr. Abdulrahman Al Awar, Minister of Human Resources and Emiratisation, announced a new three-level categorization system for enterprises in the UAE. It takes effect on June 1, 2022, and its relevant resolutions address the expectations of business owners and protect workers' rights while stimulating innovation and boosting the SME sector.

Discover what our clients have done to achieve great success
Strategy Processes and Systems Middle East FZC

An Interview with Mr. Dmitry Miagkov: His journey to success.

Strategy Processes and Systems Middle East FZC was setup in October 2020. We are a fast-growing group of companies, with offices in the United Arab Emirates, India, Poland, and Kazakhstan, that provide top-quality, bespoke consulting services to global and regional companies
Congratulations to our Award-Winning Client
Faizuddin Mohammed
Umm Al Quwain Paper Products FZE
Executive Director
Best Recycled Paperboard Exporter - UAE

Umm Al Quwain Paper Products initially started out by producing low grammage kraft paper with an installed capacity of 5,000 metric tons, and in 1999, it upgraded its machine, enabling it to specialize in high grammage core board paper.
Happenings in UAQFTZ
Webinar: UAE Corporate Tax | UAQ FTZ x MCA GULF

The UAE government's new Corporate Tax will officially take effect on 1st June 2023. Umm Al Quwain Free Trade Zone in coordination with MCA hosted an informative webinar for all clients to highlight the key learnings from the Public Consultation document issued by the Ministry of Finance.

Watch the webinar panel discussion by clicking on the link below.

View on YouTube
Exhibition Attended
Bosco Conference InvestPro (Cyprus)

UAQ FTZ took part in the Bosco Conference InvestPro, Cyprus 2022 on June 20, 2022,to showcase the various investment opportunities and incentives available to foreign companies, as well as UAQ FTZ's services and facilities.

More than 150 attendees from around the world attended the conference, which focused on corporate and financial services, asset protection, wealth management, and new solutions in investment, real estate, citizenship by investment, and taxation.
AAHAR (India)

UAQ FTZ participates at the International Food & Hospitality Fair- Ahaar at Pragati Madian (New Delhi), a major event organized by India Trade Promotion Organization, the foremost trade promotion body of India, from April 26th 2022 to April 30th 2022, to introduce our wide range of business solutions that can help the F&B industry grow.

The UAQ Free Trade Zone participates at Index, the largest and the most significant interiors event in the MENA region, from May 24th to 26th at Dubai World Trade Centre, to showcase the wide range of facilities and services that support every aspect of the furniture and interiors industry.
Hannover Messe (Germany)

UAQ Free Trade Zone  participates at HANNOVER MESSE, the world's leading knowledge and networking platform for the manufacturing industry, energy sector, and logistics, from May 30 to June 2 in Hanover, Germany, to highlight a comprehensive range of services and facilities to assist businesses in succeeding.
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Our mailing address is:
One UAQ, Umm Al Quwain Free Trade Zone Authority,
P.O Box 7072, Umm Al Quwain, UAE.

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Every effort is made to provide accurate and complete information in UAQ FTZ newsletters. UAQ FTZ makes no claims, promises or guarantees about the accuracy, completeness, or adequacy of the contents of the newsletters and expressly disclaims liability for errors and omissions in the contents of this newsletters.