The Umm Al Quwain (UAQ) Free Zone is an ideal location for business entrepreneurs. The Free Zone is located near the seaport of Umm Al Quwain, which is a strategic spot for global trading and foreign investors. Business owners here will have easy access to the world due to the prime location and modern infrastructure. The Free Zone has gone through several developments since it was first formed, becoming a great area for startups to get established and even for established businesses to expand. Aside from the great location, the tax benefits, quick registration, and supportive government are some of the many other benefits to doing business in the Umm Al Quwain Free Zone.
Umm Al Quwain is known for its easy business setup. There are several steps you have to take to form your company in the Emirate. MSZ Consultancy can guide you through the steps and make sure there aren’t any roadblocks standing in the way of your dream business.
The process to set up a company in UAQ Free Zone –
You will need to find out what type of business you will be doing so you can apply for your business license. UAQ Free Zone license cost and requirements will vary depending on what type of license you need.
You will need to choose what type of business entity you need. There are three types of business entities you can choose from when doing business in the UAQ Free Zone:
Free Zone Establishment
Free Zone Company
You will need to finalize an office, land, warehouse, or other amenities that will be suitable for your company. MSZ Consultancy can help find a location for your company with our Business Centers.
You will have to collect all of the necessary documents and get them sent to the correct authorities.
After you submit all the required documents, you will need to make the required payments.
Once all the documents have been received, and the payments have been finalized, then your business license will be issued. Your business license is what gives you permission to start operating your business.
The first step to forming a business in the UAQ Free Zone is to apply for your business license. This is such an important step because, without a business license, your company will not be legal. The type of license you need will depend on the type of business you will be doing.
This type of license is given to all types of professionals like artisans, teachers, and lawyers. Basically, anyone who offers professional services for other businesses or for consumers needs this license.
Real estate, tourism, oil and gas, engineering, aviation, financial, legal, and investment consultants will require this type of license.
This type of permit was designed for freelancers in the media and film sector, the technology sector, creative, and talent roles.
This is for companies that provide services like car and bike rentals, logistics, tourism services, and more.
This license allows companies to trade, buy, or sell goods. This license is good for three different product lines or ten smaller product lines.
This license allows a wider range of trading. Businesses with this license can trade in almost all products except for tobacco, alcohol, pharmaceuticals, and crude oil.
There are three types of entities you can choose from when doing business in the Umm Al Quwain Free Zone. The type of business entity you choose will depend on how many shareholders you have and the type of business you plan on doing.
Umm Al Quwain Free Zone is a great location for investors who are looking to form their company. The area has gained popularity with foreign investors because of its strategic location and great benefits. If you’re planning to set up your company in this Free Zone, you will want to consult with an authorized business setup specialist. MSZ Consultancy will help you go through the company registration process and make sure you have no problem getting your company formed. Contact us today at +971 52 544 1248 for a free consultation to get your dream business started!
There is no requirement for an office space to set up a company in the UAQ. However, if you want a visa, then you will need an office.
The company formation procedure is fairly quick in UAQ. The timeframe is usually 5-6 working days after you have signed and submitted your applications and required documents.
No. A local sponsor is not required for a company in the Umm Al Quwain Free Trade Zone.
Once your company has been established, then you will be able to apply for a corporate bank account with any of the banks in the UAE.
No, you don’t need to be in the country, but you will be required to visit. You will have to visit the UAE at least once.
The cost of setting up a company in the Umm Al Quwain Free Zone depends on a few things like the price of the building, how many visas you need, and other factors. But typically, a commercial license package is AED 29,999 and around AED 36,999 for the general trading license.