Business Setup in Umm Al Quwain
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Business Setup in Umm Al Quwain
The IJmmAl Quwain Free Zone is a new free zone in the United Arab Emirates. It was established last year and is located close to the Dubai airport and even closer to Sharjah in the Emirate of Umm Al Quwain. Foreign investors wishing to open a company in Umm Al Quwain will be interested to leam that they will benefit from the same legal status and facilities as in any other UAE-free zone. Foreign businessmen can fully own a company registered in Umm Al Quwain, provided they register with Dubai customs.
Umm Al Quwain Business Licenses
The Umm Al Quwain Free Zone Authority offers six business licenses to expatriates interested in establishing a company within its borders.
They are Commercial license, General Trading license, Consultancy license, Service license, Industrial license, and Freelance permit. Individuals who wish to set up a sole trader business or cany out freelance activities in IJmm AI Quwain may apply for a micro business license. Similarly, large companies can apply for an industrial license if they want to expand their operations in Umm Al Quwain.
Umm Al Quwain Company Formation Process
Like other UAE regions, Umm AI Quwain also has two locations for business setup. Those are Freezone and Mainland.
Umm Al Quwain Mainland Business setup:
Mainland company formation in the United Arab Emirates is a wise choice for a business. Due to the recent economic growth in the emirate and the government’s policy of encouraging new businesses, UAQ has become a popular place for entrepreneurs and investors alike. The local authorities provide many incentives to help SMEs, micro-businesses, conglomerates, and startups gain a competitive edge in the market. Investors can find many lucrative investment opportunities in UAQ free zone or the mainland.
- No duties are levied on the import of goods, which has encouraged trade.
- 100% foreign ownership, depending on the approval of regulatory’ sponsors.
- No corporate, capital gain, and income taxes.
- Businesses may repatriate capital, funds, and profits.
- Advanced infrastructure
- Low energy and real estate costs
- Inexpensive labor force
- Free labor laws
Umm Al Quwain Free Zone Business Setup:
The Free Zone in Umm AI Quwain is just one of the many Free Zones in the UAE, but it is a great area for small business owners to start their operations. Its proximity to seaports in the UAE and international airports make it ideal for international trade, which can be conducted with over two billion consumers around the world. Foreign employees can be hired, there is 100% ownership of companies, and there are plenty of office and warehouse spaces available.
- 100% ownership of businesses
- No cun•ency restrictions
- 100% repatriation of profits and capital
- 100% tax exemption for imports and exports with the UAQ Free Zone
- Quick registration process
- State-of-the-art facilities
- Advantages for micro-businesses and SMEs
- Access to UAQ’s seaport
- No restriction on foreign employment
Documents required business setup in Umm Al Quwain:
- Copy of valid passport.
- Proof of address (recent utility bill or bank statement).
- Three chosen company names.
- Entry Permit copy
- the company’s memorandum and articles of association,
- registration fee.
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Frequently Asked Questions
The cost of obtaining a mainland license in Umm Al Quwain varies depending on the type of license and business activity. Generally, it can range from AED 5.000 to AED 45,000 or more. The cost includes fees for registration, license issuance, and other related expenses. It’s important to note that there may be additional costs associated with obtaining permits, visas, and other requirements for starting a business in the UAE.
The Umm AI Quwain Mainland license generally approves a wide range of business activities that are pennitted in the UAE, including manufacturing, trading, and service- based industries such as hospitality, tourism, retail, and professional services.
The cost of commercial propelties for buying in IJmmAl Quwain to stan a business may range from AED 500,000 to AED 3 million or more, depending on various factors such as location, size, and type of property.
The cost of a freelance permit in Umm Al Quwain varies depending on the type of permit and the business activity. Generally, it can range from AED 1 ,500 to AED 4.000 or more. The cost includes fees for registration, permit issuance, and other related expenses.
There are several business consultancy firms in the UAE that can provide assistance with obtaining a license in UmmAl Quwain. We are one of the best legal and business consultancy firms in the UAE and offer company formation services in UAQ and other emirates. However, it’s important to do research and choose a consultancy firm that best suits your business needs and budget.
Fonning a company in Umm AI Quwain can be relatively easy or difficult, depending on various factors such as the type of business, legal requirements, and regulatory procedures. It is recommended to seek professional guidance like us and conduct thorough research before initiating the company formation process.