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 Free Zone Business Setup
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 –
Determine the type of license
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.
Choose the business entity
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
Existing Company
Decide on the business facility required for business
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.
Submit the necessary documents
You will have to collect all of the necessary documents and get them sent to the correct authorities.
Pay the license fee
After you submit all the required documents, you will need to make the required payments.
Get your business license and start your business
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.
Documents Required
Business Licenses for UAQ Free Zone Company Registration
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.
Consultancy License
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.
Premium Consultancy License
Real estate, tourism, oil and gas, engineering, aviation, financial, legal, and investment consultants will require this type of license.
Freelance License/Permit
This type of permit was designed for freelancers in the media and film sector, the technology sector, creative, and talent roles.
Service License
This is for companies that provide services like car and bike rentals, logistics, tourism services, and more.
Commercial license
This license allows companies to trade, buy, or sell goods. This license is good for three different product lines or ten smaller product lines.
General Trading License
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.
Benefits to Umm Al Quwain Free Zone Business Setup
- Total exemption from corporate and personal taxes
- 100% foreign ownership is allowed
- No currency restrictions
- Quick and easy company registration
- Ideal location for SMEs and small businesses
- Investor friendly rules and regulations
- Freedom to hire foreign employees
- No minimum capital requirement
- Easy leasing options
The Right Business Entity for Your Company in Umm Al Quwain Free Zone
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.
- Free Zone Establishment – This type of entity is perfect for a company with a single shareholder.
- Free Zone Company – This type of entity is perfect for two shareholders and a maximum of 50 shareholders.
- Branch Setup – This is for existing companies to open a branch.
Smooth Business Setup in UAQ Free Zone with Experienced Consultants
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!
Frequently Asked Questions
Do I need to have an actual office space to set up my company in Umm Al Quwain Free Trade Zone?
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.
How long would it take to set up a company in Umm Al Quwain Free Trade Zone?
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.
Do I need a local sponsor to set up a company in Umm Al Quwain Free Trade Zone?
No. A local sponsor is not required for a company in the Umm Al Quwain Free Trade Zone.
When can I set up my bank account?
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.
Do I need to be in the UAE to set up a company in Umm Al Quwain Free Trade Zone?
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.
What is the cost of setting up a free zone company in Umm Al Quwain Free Trade Zone?
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.
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