What is Umm Al Quwain Free Zone?
Umm Al Quwain Free Zone is situated in the least-populated Emirate of the United Arab Emirates (UAE). Micro businesses, SMEs, and conglomerates see this location as a good place for them to have their venture.
Organized Legal Framework
The UAE itself is an organized country that boasts its security and safety that cover their residents. It should be expected that UAQ also has the same organized legal framework to manage their free zone.
Good Investment Climate
UAQ welcomes investors to its place because it is really a choice of investment. The number of industries continuously grows in UAQ as its economy persists in its growth as well.
Cost-Effective Way of Living
UAQ is one of the Emirates in the country that has the lowest cost of living. This is one of the factors of the increase in the business setup in Umm Al Quwain Free Zone.
Easy Access to Trading Partners
Trade partners are easily accessed by those who are situated in UAQ. The ones in the Middle East, Africa, and Asia are going to find accessible to trade with businessmen who are in this region.
What Benefits Will You Reap from Having a Business Setup in Umm Al Quwain?
There are always advantages when it comes to business setup in UAE, whenever Emirate it is. However, every free zone has its own unique advantages, which includes the Umm Al Quwain Free Zone.
- Hi-tech facilities
- Strategic location
- 100% tax-free operations for Umm Al Quwain free zone.
- 100% company ownership
- 100% repatriation of capital and profits
- No restrictions on hiring foreign employees
- No share Capital Requirements
- 100% import and export tax exemption within the Free Zone
- Full range of business activities permitted
- Simple and fast registration process
- Office, warehouse and land availability
- Special concessions via Umm Al Quwain free zone seaport
- Investor-friendly rules and regulations
- Ideal location for SMEs and micro-businesses
What are the Legal Forms that You are Allowed to Form in Umm Al Quwain Free Zone
- FZE Companies—This is a kind of company that has only one shareholder that is either an individual or a corporate entity.
- FZC Companies—This is a kind of company that has two or more shareholders that are either individuals or corporate entities.
- Branch Companies—This is a kind of company that is either an extension of an existing company in the UAE or outside of the country.
What are the Business Licenses that Umm Al Quwain Free Zone Issues?
- General Trading License—This is a kind of license that international traders can enjoy. With this license, companies can trade all categories of products. However, tobacco, alcohol, pharmaceuticals, and crude oil are not part of the list of products. The cost of the license for this kind of trading will be more expensive than a trading license.
- Micro Business License—This kind of license is for those businesses that have a certain budget. This means that they do not necessarily need a physical office or even a visa.
- Consultancy License—Businessmen who are looking to start a consulting firm obtains this license.
- Freelancer Permit—Individuals like musicians, performers, event planners, photographers, and others obtain this kind of visa. This is for people who perform professional tasks based on their expertise. However, documentation, like certificates, need to be presented as proof of their expertise.
What are the Business Activities Allowed in UAQ Free Zone?
There is a number of business activities that UAQ FTZ allows in their location. This gives investors and businessmen alike the opportunity to not have any much hassle in establishing their business. Getting help from business setup consultants in Umm Al Quwain can ensure you of the list of all the business activities in UAQ FZ.
What are the Documents Required for Business Setup in Umm Al Quwain Free Zone?
There are general documents that an applicant must prepare before applying for a company formation in Umm Al Quwain Free Zone.
- Signed application form
- Specimen signatures of applicants with dates
- Initialed Articles of Association on all pages and signed with date by all shareholders on the last page
- Initialed Memorandum of Association on all pages and signed with date by all shareholders on the last page
- Signed Service Lease Agreement by the Manager
- Shareholders’ passport-sized photographs (white background)
- Shareholders’/Director’s/Manager’s passport copy with UAE entry visa page copy
- Latest utility bill copy that shows the name and address of the shareholders/director/manager/secretary
- Copies of valid ID cards the shareholders/director/manager/secretary
Ensure the beginning of your venture goes through the right procedures with the help of FAR Consultants. We are one of the leading business setup consultants in UAE for 35 years now.