Umm Al Quwain Free Zone started in 2014 in the Northern Emirate of Umm Al Quwain located approximately 60 miles from Dubai. Like many other UAE free zones, you will have 100% ownership and are exempt from corporate taxes.
Umm Al Quwain Free Zone Compared to Other UAE Free Zones:
What makes UAQ Free Zone stand out from other UAE free zones is the low startup costs. Aside from the typical type of business licenses, they can offer you the following cost-effective methods of doing business:
- Micro Business License:
If you do not need a physical office or a visa this is one of the most cost-effective options in the UAE.
- Freelancer Permit:
This is ideal if you operate in the technology, media and film sectors, as well as creative and selected administrative roles.
Simplicity is also another aspect that makes UAQ an ideal destination for you to start your business. They have streamlined the process into 6 simple steps.
The Six Steps to Launch your Business in UAQ Free Zone
Step 1 – Type of Company
The first step is to decide what type of company you want. The options are General Trading, Commercial License, Consultancy License, Service License, Freelance Permit or Industrial License.
Step 2 – Format of the Entity
The second step is to select the format of the entity. If you are a single shareholder the company will be a Free Zone Establishment (FZE), if there are two or more, then it shall be a Free Zone Company (FZC), or you open a branch of an existing company. Click here to learn the difference between FZE and FZC.
Step 3 – Facility for Your Business
The third step is to select the facility for your business. You have the option to get an office, warehouse, land or none of the above depending on the license.
Step 4 – Application Form & Documents
The fourth step is to submit the application form and documents. You can either do the submission on your own or through a consultant. If you do it through a consultant, you have the added peace of mind that they will review everything before it is submitted.
What documents required to set up business in Umm Al Quwain Free Zone:
- Application form
- Specimen signature
- Signed MOA / AOA
- Service lease agreement (if applicable)
- Passport copy
- Visa copy (if applicable)
- Passport size photo, and
- Latest utility bill.
Step 5 – Payment
The fifth step is payment based on the invoice raised by UAQ Free Zone. Alternatively, you can have your consultant make the payment on your behalf.
Step 6 – Collect Business License
The sixth and final step is the collection of the business license to commence trading under your new business. Once you collect the company documents, you can proceed with the formalities of bank account opening as well as the visa formalities.
A Business Setup Consultant Can Save you Time
While Umm Al Quwain Free Zone has streamlined their incorporation process, it is important to keep in mind that you may require multiple trips back and forth to the free zone for ongoing administrative purposes. A business setup consultant based in Dubai can instead act as your sole point of contact, and they can deploy their PRO to the free zone as and when needed. You can focus on the important aspect of running your business, while the consultant handles the administration.
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