Umm Al Quwain Company Registration
Umm Al Quwain Company Registration in Free Zone Area for new business persons. Therefore find all you need to know about registering a new company in Umm Al Quwain.
UAQ is a small Emirate in United Arab Emirates with least population and high economic status. In addition best place for new business is Umm Al Quwain Free Trade Zone. Therefore start a new company with ease and less cost here.
Finally there is a free zone in UAQ for business setups. So now you can do any type of legal business with a number of license available.
About Umm Al Quwain Free Zone
Umm Al Quwain Free Zone is a newly formed government backed autonomous arm for business. It started operating since 2014. There are 25 free zones in UAE.
Furthermore all the business activities with valid trade license are incorporated in Umm Al Quwain Free Trade Zone. In addition the company can avail the same legal status inside UAE like others. Therefore you get the freedom to trade, contract, import, export, visa, and bank.
Also a variety of license available aids in improving the economic status of the company and the Emirate.
Umm Al Quwain is located in between Sharjah and Ras Al Khaimah. Therefore it is easily accessible from all the nearby Emirates. Furthermore the airports are also nearer to Umm Al Quwain.
Since it is easily accessible by the sea and air ports, Umm Al Quwain Company registration is on high demand. Also the transportation cost is minimized.
- Dubai Airport to Umm Al Quwain Free Zone- 50 minutes
- Sharjah to Umm Al Quwain Free Zone- 6 Km
- Dubai to Umm Al Quwain Free Zone- 20 Km
Road Accessibility To Umm Al Quwain Free Zone
Umm Al Quwain Company Registration has become more popular because of its easy road accessibility from other Emirates. Since it is easily accessible by road, economy is increased.
Also there are some companies with warehouse in Umm Al Quwain and office in other Emirates. In conclusion this practice brings more sales with less money.
- Old Emirates Road
- Sea Shore Roads of Old Sharjah town
Head Office of Umm Al Quwain Free Trade Zone
Furthermore this is the government office where all the government related works and approvals are made. Therefore this is an important place for Umm Al Quwain Company Registration.
- Name- Umm Al Quwain Free Zone Authority
- Location- Near the Emirate’s Entrance
Benefits of Umm Al Quwain Free Zone
There are a number of benefits of Umm Al Quwain Company Registration.
- 100% Company ownership by individual, foreign owners or a company
- No need to appoint resident director, manager or take resident owner’s visa
- 100% Tax Free
- Also Import into free zone duty free (release or keep the products as stock for re-export without paying any custom duties)
- Also do Business internationally free of cost
- Using the services of local traders sell goods in local market (sell from free zone to UAE and other countries)
- In addition for cheaper shipments you can use Dubai’s Seaport and airports. Avail it with an import code from Dubai Customs.
- UAQ FTZ company can open a bank account in any branch in UAE
- Finally company can apply for residence visa for employees and owners (live anywhere in UAE)
Reasons for Umm Al Quwain Company Registration in Free Zone
Because Umm Al Quwain Free Zone is the best place in UAE to start a new business. Therefore know some of the reasons to start a company here.
- 3 licenses for businessmen (Premium Consultancy, Micro Business, Freelancer Permit)
- Allow some prohibited business of UAE
- Also easy business for single professionals
- High range of economical options available
- Furthermore owner can form a company without being present in UAE (using consultant’s services)
Licenses for Umm Al Quwain Company Registration
License is the basic requirement for Umm Al Quwain company registration. Therefore it is important to decide which is the best suited license for your business.
Since there are a number of license, you can choose any one for you. Therefore choose your license and apply for it.
Note: No License For
- Real estate brokerage
- Forex trading
Types of Licenses
1. Trading License (Cost US$ 685)
All types of Trading Activities
Example– Trade in garments or multiple activities
2. General Trading License (Cost US$ 2603)
Wider range of Trading activities.
Exumption– Tobacco, Alcohol, Pharmaceuticals and Crude oil
3. Consultancy License (Cost US$ 685)
Smaller consultancy business activities.
Example- Management Consultancy, IT services, Accounting Services, HR Consultancy Services
4. Premium Consultancy License (Cost US$ 3973)
Some Premium Consultancy activities.
Example- Real Estate consultancy, Tourism Consultancy, Oil and Gas engineering Consultancy, Legal consultancy, Financial Consultancy, Investment Consultancy, Shipping and Logistics and Aviation Consultancy
5. Micro Buisness License (Cost US$ 685)
Minimum Budget business activities. Trading or consultancy business.
Note- Do not need Physical office and visa
6. Freelancer Permit (Cost US$ 685)
Example-Photographers, Event Planners, Musicians, Performers etc.
Requirements– Educational Certificates
Things To Do Before Starting a New Business
Note the basic things to do before starting a business. Therefore get to know the basic things you need to do before starting any kind of business. Furthermore plan your business setup with our assistance.
- An Office inside Free Zone Are of Umm Al Quwain
- Flexi Desk in the business center is the minimum office category available
- Also choose the license for your business activity
- In addition select how many residence visa you will need
- Finally plan your office size according to need
Note: The number of visa approval depends on the office size. In general 1 or 2 visa are available for small office. But for 4 visa you will need bigger office space
What Will New Businessmen Get after Registration?
After you have registered for a new company in free zone area of Umm Al Quwain, you will get the following. Also you can include more benefits if you are eligible.
- Chosen Trade License
- Office Space (Micro Business and Freelancer Permit License excluded)
- In addition visa for owner and employees (Micro Business License excluded)
Legal Company Forms in Umm Al Quwain Free Zone
Since there are some legal forms of company that are allowed in the free zone. Also all the business activities falls under these forms.
Minimum Share Capital is AED 300,000 (US$ 82,200). This needs to be documented. No need to show this at the time of registration or later
- Free Zone Establishment (FZE)- Single Shareholder Company
- Free Zone Company (FZC)- Multiple Shareholder Company
- Branches of Foreign Companies
- Mainland Local Companies
- Fully or Partly Owned Subsidiaries
Legal forms of companies according to Law No. 8 of 1984
- A partnership
- Limited Partnership
- The joint venture
- Private joint stock company
- Limited Liability Company
- Company limited by shares
- Local family business
- The company’s foreign trade
- A public company
12 Steps for Umm Al Quwain Company Registration
First of all for Umm Al Quwain Company Registration you need to follow the below steps. Furthermore company formation in Umm Al Quwain Free Zone Area is the easiest if you know this procedure.
Therefore avail the benefits of company formation in Umm Al Quwain. And follow the below steps to register as a new businessmen.
- Passport copy and Home address
- Confirm if special approvals are required for the activity
- Filled Form
- 3 chosen names for the business
- Basic information of owner
- In addition choose Manager
- Finally Initial Approval granted
- Specimen signature form, memorandum and articles of association will be sent to you
- Sing and resubmit the form
- Payments must be done
- As a result Valid Company Documents will be ready on 3rd working day
Some documents are required for new company formation. Therefore submit the following documents according to your activity and category.
For Business Registration
- Trademark Reservation proof (consultant’s duty)
- Another is Initial approval proof (consultant’s duty)
- Most of all Passport copies of shareholders
- In addition CV or Resume of Manager
- Personal information (Form provided)
- Lease agreement documents (will be required after initial approval)
- Also attested and notarized Power of Attorney (Form provided)
- Finally 3rd party approval fees (if applicable)
For Corporate Shareholder
- Attested and Notarized memorandum or article of association (By UAE Embassy from home country)
- Also board resolution to be resolute by board of directors for existing company or entity. I must be done in home country stating intent to setup new company (Attested by UAE Embassy- form provided)
- Certificate of registration, incorporation (attested by UAE Embassy)
For Foreign Company Owners
In addition documents must be attested in the home country by UAE Consulate and then by Ministry of Foreign Affairs, UAE.
- Certificate of Incorporation
- Memorandum and Articles of Association
- Shareholders or a board resolution supposed to establish the new company
Cost for Umm Al Quwain Company Registration
- License- It depends on the chosen license or business activity. This is paid every year
- Office Rent- It depends on the size of office. Furthermore this is also paid every year
- Registration- Establishment card, name reservations, registration forms. This is one time payment (US$ 548)
- Also the Consultant Fees
- In addition Visa charges for 2
- Office Space with Flexi desk will cost US$ 4384 per annum
- Also Address service for Micro business and Freelancer Permit license will cost US$ 2466
License cost+ Rent+ Registration+ Consultant Charges+ Visa Cost= Total Cost
Government Fees For New Company Registration in UAQ FTZ
- Trade Name reservation- Govt. Agency (610AED)
- Initial Approval for your Business- Govt. Agency (110 AED)
- Local Citizen – Sponsorship fee (15,000 AED)
- Also MOA – Legal Translation Services (1,280 AED)
- Notarization of MOA– Govt. Agency (960 AED)
- Licensing & Certificate of Incorporation Fees ( for specific Business activity )- Govt. Agency (7,000 AED)
- File Opening –Immigration (Establishment Card)- Govt. Agency (860 AED)
- File Opening- Ministry of Labour( Establishment Card)- Govt. Agency (2,053 AED)
- E-Signature Card – Ministry of Labor- Govt. Agency (1,000 AED)
- Consultant Fees – Finally your Business registration Consultant’s Professional Fess.
» MOA drafting – Arabic / English
» Power of attorney drafting – A/E
» Side Agreement drafting – A/E- Professional Fees (15,000 AED)
Note: All the fees must be paid in advance. Also the cost for each may vary depending on the specifications. In addition this cost is just the approximate fees which is subjected to increase or decrease.
Cancellation of License
Your License can be cancelled or can be renewed as per your need. Furthermore for cancellation of a business license you need to follow these steps.
- Approve the company liquidation by arranging a meeting with General Assembly of the company.
- Submit Auditing reports to general liquidates company
- Advertise the cancellation and liquidation of company in newspaper
- Finally Obtain a Certificate of cancellation from Register
Company Infrastructure in Umm Al Quwain Free Zone
Finally know the infrastructure of the free zone area in Umm Al Quwain for new business set up.
- Simple and incorporated
- Hassle free environment
- Business friendly laws and legal framework
- 1-Stop-Shop Service provides variety of government service business partners (example- licensing, visa, traffic, postal services etc)
- Fast track immigration process gives quicker access to knowledge workers