Dubai Business Setup is a fantastic service provider for Umm Al Quwain business setup, providing a free trade zone that makes it simple to start a business in UAQ. This is especially useful for entrepreneurs and multinational firms wanting to get into the UAE market.
The United Arab Emirates is a global hub for international trade and is also a major travel destination for foreigners.
The United Arab Emirates has a total of 22 local and 30 foreign banks which opens the door for potentially large amounts of money laundering and terrorist financing.
The UAE also has the five biggest banks in the region (accounting for about 60% of the sector’s assets) according to the Corporate Financial Institute.
New legislation in the UAE focuses on providing guidance that will help each bank to strengthen its AML compliance program.Free Trade Zones (FTZ’s) Corruption and Money Laundering in the UAE UAE has free trade zones (FTZ’s) in a number of areas across the country; FTZ’s are located throughout Dubai, Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al-Khaimah and Umm al-Quwain.
Free Trade Zones are a source of economic vitality and growth for the country.
FTZ’s features 100% foreign ownership and zero taxes which attracts many foreign investors.