There is a total of seven emirates in UAE and one of them is Umm- Al-Quwain. It is located near Dubai as well as Sharjah and is basically in the developing stage. It is basically in its progressing stage but has a great future for sure. This zone will surely make a huge progress in trade and industry in the coming years.
Umm- Al-Quwain is considered to be at a very good location for the case of micro businesses as well as SMEs. So, the entrepreneurs should try setting up their new businesses here because it has a lot of potential for the new entrepreneurs for developing their businesses and making progress in it.
Why is Umm- Al-Quwain having so much potential for the young entrepreneurs?
Well, the cost of the living here in Umm- Al-Quwain is very low and as we know that the young entrepreneurs have rarely too many resources so, it would act as a plus point for them and they will be able o carry out their business activities within their budget.
Here are some of the steps that you need to follow in order to start a new business in Umm- Al-Quwain
The first and foremost step that you need to take in order to set up a new business under a license is to think about the activity you want to carry out in Umm- Al-Quwain. Having a license is very necessary for you to start doing your business activities is very necessary because you cannot work without a license.
So, think of your business activity and then work on it. after getting a license you can start your business and act as a freelancer as well. people are opting to freelance too much these days and it is a very good option for the ones who are so much into the creativity and stuff related to it. it will also help them in making their own unique name in the industry. So, the people should really try it to boost up their business in this way.
Licenses offered by Umm Al Quwain free zone
- commercial license
- general trading
- industrial license
- consultancy license
- freelance permit and service license.
After deciding what work, you will do, you will move towards the next step. this is the step of choosing your workplace. You can select any type of a place that suits you and is feasible for your work. you can choose different types of workplaces for you which may include an office, warehouse, workshop or land. Whatever you choose depends on what you like or need.
Requirements for a workplace
- passport copy (if having partners, their passport copies are needed as well)
- address proof of all partners
- memorandum of association
- board resolution and power of attorney.
In the case of opening a company on an industrial level, you might need a manager. For that purpose, your third step would be hiring a manager so that he can manage your company in a better way.
You must ask your manager to provide you with his passport copy and address proof. This will act as a security of him for you and you will be able to trust him better as well.
Sending an application to the authority office is needed as well. in this step, you will send an application while completing all its requirements to the authority office. After you apply and submit the application, you will be given an invoice for the free zone by the authorities. You must pay the amount written on that invoice for the sake of application or else your application will not be considered.
After you apply for the license, the authority will issue a license for you. if you have any queries, you will be able to discuss them with a relationship manager and he will clear all your queries.
After getting the license, you will easily be able to apply for a residence visa and in addition to that, you can open a bank account of yourselves too.
There are a lot of benefits for the people who are looking forward to opening a new business set up in Umm Al Quwain. This is because there are a lot of opportunities that are waiting for them and if they do not approach hem, they will be at so much loss. So, the people should really think about Umm- Al-Quwain as a business option.
Umm- Al-Quwain is very cost effective for the newbies who want new offices and warehouses to carry out their businesses.
It is very close to UAE’s seaport and international airports of Dubai and Sharjah which gives it an extra advantage because of its location at a very good place.