The United Arab Emirates is a country full of business opportunities for investors and entrepreneurs from all around the world. And it has more than 40 free zones in which you can set up a company and reach success easily. In fact, the Umm Al Quwain business setup is an ideal option that you should consider.
But first, it is vital to get information about the company setup process and everything that it involves. For example, you must know about the available licenses and allowed types of business structures in this free zone. Besides, you should know about the services that you should request to make the setup process easier for you.
1. What is Umm Al Quwain Free Zone?
2. Business licenses in Umm Al Quwain Free Zone.
3. Umm Al Quwain business setup process.
4. Cost of setting up in Umm Al Quwain.
5. How can Connectfz help you to set up your company?
1. What is Umm Al Quwain Free Zone?
This is one of the most popular free zones in the UAE and you can find it 45km from Dubai. It’s also known for being one of the smallest business hubs in the country due to its dimensions (surface 777km2). Nonetheless, this detail is meaningless since UAQ Free Trade is among the favorite business locations for investors.
And there are several reasons why investors and entrepreneurs from everywhere have opted for the Umm Al Quwain business setup. From its strategic location to the many facilities and benefits that it offers are some of the advantages of this location. If you desire to set up in UAQ, you should contact our team and request our services and advice.
1.1. Why should you choose Umm Al Quwain Free Zone?
Umm Al Quwain FTZ is known for the many advantages that it offers to investors like you. For example, the Umm Al Quwain Free Trade Zone company regulations are very flexible, and there’s a business-friendly environment too. Besides, the registration and incorporation process of a new company is very straightforward and easy.
On the other hand, there is a wide range of allowed business activities and available business licenses. Therefore, you will have countless opportunities to set up any kind of company in this free zone. Furthermore, you can get several support services to help you speed up the setup process and improve your business.
Learn More about : How to Set up a Business in Sharjah Mainland
1.2. Benefits of setting up in Umm Al Quwain Free Zone.
If you complete the Umm Al Quwain business setup process, you will be able to receive several benefits. And with these advantages by your side, you can boost your business and make it grow exponentially. Among the most common benefits that you can receive in this popular free zone, there are the following ones:
- You can receive 100 percent of foreign ownership of your company in UAQFTZ.
- Besides, there are also many tax exemptions, including corporate and personal tax exemptions.
- There are many available facilities that you can use, such as pre-built structures, office space, warehouses, and many others.
- Furthermore, this free zone provides world-class infrastructure and facilities that have total connectivity and count on 24/7 security.
- You can enjoy 100 percent of the repatriation of the profits and capital that your company earned.
- And you can also hire foreign employees and workers since there are restrictions on this matter.
- There are no investment restrictions in any business sector in Umm Al Quwain Free Trade Zone.
- The seaport authorities at the Umm Al Quwain FTZ provide trading companies with a special concession.
- It is not a requirement for your employees and staff to make a visa deposit.
- All companies in this location can enjoy a business-friendly environment and flexible rules and regulations.
2. Business licenses in Umm Al Quwain Free Zone.
One of the most important things that you will need to do business is a suitable license. Therefore, it is essential to get information by making an Umm Al Quwain trade license inquiry. And in this location, you can find a variety of licenses that can cover a wide range of business activities.
Nonetheless, it is also important to know about each available license and the activities that each of them covers. Otherwise, you will not be able to know which one is the one that your business will need. Therefore, you should ask for professional advice in case you consider it necessary.
Read More About : How to Setup Business in Abu Dhabi Mainland
2.1. Commercial license.
This license is also known as a trading license and it is among the most popular among investors. With this license, you will be able to carry out activities like exporting, importing, distributing, and storing your products. However, you should know that your license will specify the products that your company will trade.
2.2. General Trading license.
As for this one, you can only obtain a general trading license under a commercial license. And with this license, you will be able to perform similar activities as with a commercial license. Nonetheless, a general trading license will allow you to trade a wider range of goods and products within the free zone.
2.3. Service license.
Any investor who desires to set up a service-related company must obtain this type of license in UAQ. A service license will specify the activities that your company will carry out within the location. Some of the allowed activities are courier services, logistics, travel agency, car rental, insurance services, tour services, and many more.
2.4. Consultancy license.
In case you desire to establish a consultancy business, it will be mandatory to apply for a consultancy license. With this license, you will be able to perform several activities, including tourism consultancy, legal consultancy, financial consultancy, and many others. However, there are many other professionals who can apply for it, including artisans and craftsmen.
2.5. Premium Consultancy license.
This other type of business license is ideal for many types of agencies that operate in the UAQ Free Zone. For example, agencies related to tourism, real estate, aviation, oil/gas engineering, laws, finances, and investment can obtain this special license. Nonetheless, there are many other kinds of consultants who can apply for this license in UAQ.
2.6. Freelance license or permit.
With this other license, freelancers can enjoy the opportunity of working in this favorable location in the UAE. And getting a freelancer license is the perfect option for professionals who operate in the technology sector, film/media sector, and more. However, it will also be necessary to obtain a Freelance Visa Umm Al Quwain.
3. Umm Al Quwain business setup process
If you want to be part of the list of companies in Umm Al Quwain Free Zone, you must follow these steps:
- Choose one of the available business licenses and make sure it covers all of your activities.
- Select any of the available types of business structures, but make sure that it fits your requirements.
- Determine the facilities that you will require to operate your business. You can choose between offices, lands, warehouses, and more amenities.
- Gather and submit all the necessary documents that the Umm Al Quwain business setup process requires.
- After that, you will receive a notification from the authorities to pay the license fee.
- And lastly, the authorities will provide you with your license and you can start operating in the free zone.
3.1. Allowed types of entities.
One of the main steps of the Umm Al Quwain business setup process is choosing your ideal company structure. And in this location, you can choose between three main options, which are the following:
- Free Zone Company (FZC): this option is perfect for large companies that operate in UAQ Free Zone. And choosing this type of entity allows you to have from 2 to 50 shareholders.
- Free Zone Establishment (FZE): on the other hand, if you set up a smaller company, you can opt for setting up an FZE. In this case, you can have only one shareholder in your company.
- Branch of an existing company: as for this alternative, it is only available for those who already operate an existing company. And this option is valid for entrepreneurs who own local (UAE) or foreign companies.
3.2. Required documents for the business setup process.
In case you want to set up an FZE or FZC, you must submit these documents:
- Your filled application form.
- A clear color copy of the manager’s passport.
- A few clear color copies of the passports of the shareholders and directors.
- Proof of address of the shareholders (utility bill, bank statement, driving license, or any other).
- And the Memorandum and Articles of Association.
But in case you want to set up a branch of an existing company, you will need these:
- Your filled application form.
- A clear color copy of the manager’s passport.
- Proof of address of the manager (utility bill, bank statement, driving license, or any other).
- The Memorandum and Articles of Association.
- Legalized certificate of incorporation.
- And legalized board resolution and Power of Attorney.
3.3. How to apply for a license?
In order to complete the Umm Al Quwain business setup process, you must get your chosen business license. And you can apply for it in three simple steps. Firstly, you need to select the license that you will require for operating your kind of business.
Once you are aware of the license that you need, you must submit all the paperwork and documents that it requires. After that, it is mandatory to pay the required fees in order to complete the issuance process. And lastly, you will receive your license right after the authorities issue it.
3.4. License renewal process.
You must also complete the Umm Al Quwain Free Zone license renewal process if you want to keep operating your business. Therefore, you should know that this process must be done on an annual basis and requires certain documents. For example, it will require a new copy of the Flexi-desk lease agreement and other important documents.
Additionally, you must process the required payment along with the documents. And you should also know that you can complete the renewal process remotely, and it will only take 2-3 days. Also, you can enjoy the advantage that there will not be necessary any audit reports.
4. Cost of setting up in Umm Al Quwain.
The business setup cost will mostly depend on the Umm Al Quwain Free Zone license cost. However, other elements like your chosen facilities, visas, and legal structure can also influence the total cost. In addition, the required fees and approvals during the company setup process make also a significant difference.
The total cost of the Umm Al Quwain business setup process is between AED 13,500 and AED 27,500. Be aware that each type of license has a different cost and includes different visas. As for the visa, an investor visa valid for 3 years can cost around AED 2,500. If you need more information, feel free to contact us and we will provide you with the guidance you require.
5. How can Connectfz help you to set up your company?
The entire can be a lot simpler by requesting professional advice and support services. And that is what we offer you for allowing you to set up your company in no time. Besides, we can also provide you with information that you need about the business processes in this particular free zone.
And if you need to complete other procedures during your company formation process, you can also get special services. For example, if you need to complete the Umm Al Quwain Free Zone visa application form, you can request our visa services. But there are many other services that you can also request, such as HR consultancy, recruitment, tax advisory, and more.
Would you like to contact Connectfz to obtain more information about the business setup process in Umm Al Quwain Free Zone, UAE? If you have any questions, call us on +97143316688. You can email us at [email protected], and you will talk to one of our representatives who will answer your questions.
