Foreign investors can opt for company formation in the Umm Al Quwain (UAQ) Free Trade Zone to leverage its strategic location, easy connectivity, modern infrastructure, easy licensing rules and affordable living. The free zone is located on the Sheikh Mohammed Bin Zayed Road that easily connects Umm Al Quwain with Sharjah, Dubai and Abu Dhabi. Moreover, the free zone is less than an hour from Dubai International Airport by road. This makes free zone company registration in Umm Al Quwain free zone particularly beneficial for logistics, warehousing and transportation.
If you are impressed by these benefits, you can confidently give thumbs up for the process of business setup in Umm Al Quwain. You don’t need to worry about the rules and procedures as business setup consultants in Umm Al Quwain can manage it for you. Furthermore, the following blog will provide you with valuable insights on setting up a company in the Umm Al Quwain Free Trade Zone. Read ahead to know further:
What Licenses Can You Obtain from Umm Al Quwain Free Trade Zone?
Getting a trade license is the most critical requirement for starting a business in the UAE. Conducting business activities in Umm Al Quwain or any other emirate without a trade license is a punishable offence. Choosing a license that doesn’t match your proposed business activity must also be avoided. Business setup consultants in Umm Al Quwain can help you to accurately select a trade license. Umm Al Quwain Free Trade Zone offers the following trade license for investors:
- Commercial License
- General Trading License
- Consultancy/Service License
- Freelance Permit
- Industrial License
What Type of Entities Can Be Opened in Umm Al Quwain Free Trade Zone?
Foreign investors must select the right company structure to register a business with the Umm Al Quwain Free Trade Zone. The legal structure is determined on the basis of the number of shareholders in your proposed company. Company setup consultants in Umm Al Quwain can help you choose an appropriate legal form for your free zone business. Below are the type of entities you can register in the Umm Al Quwain Free Trade Zone:
- A Free Zone Establishment (FZE), which is ideal for a single shareholder
- A Free Zone Company (FZC), which is for two and up to 50 shareholders
- A branch of an existing company
Facilities Available in Umm Al Quwain Free Trade Zone
Access to modern infrastructure and facilities is one of the key advantages of incorporating a company in the Umm Al Quwain Free Trade Zone. The free zone offers state-of-the-art facilities such as office spaces, warehouses, co-working spaces and plots of land that make company formation viable. Consult with company formation consultants in UAE for further information on the free zone facilities.
How to Incorporate a Company in the Umm Al Quwain Free Trade Zone?
Foreign investors can set up a company in the Umm Al Quwain Free Trade Zone by executing the steps set out by the free zone authority. The process of business setup in the Umm Al Quwain Free Trade Zone involves both complex and simple steps. Moreover, investors who have a firm grip over the UAE laws and regulations can get the license approved fast. However, knowledge of the laws is not essential if you apply for a trade license through business setup consultants in Umm Al Quwain. The following steps must be executed to obtain a free zone license in Umm Al Quwain:
- Select a business activity
- Determine an appropriate legal structure
- Choose the facility
- Submit necessary documents
- Make the payment
- Receive the license
- Open a bank account
Compliance Requirements in Umm Al Quwain Free Trade Zone
The landscape of business setup in the UAE has undergone drastic changes in the past few years. In line with these changes, foreign investors and entrepreneurs need to be aware of the new regulatory requirements. Companies operating in Umm Al Quwain Free Trade Zone are required to comply with regulations such as Economic Substance Regulations (ESR), Ultimate Beneficial Ownership (UBO) and Anti-Money Laundering and Combatting Financing of Terrorism (AML-CFT) laws. Investors will also need to consider the impact of the proposed UAE corporate tax on their businesses. Business setup consultants in Umm Al Quwain can assist business owners to comply with the regulations.
Hire the Best Business Setup Consultants in Umm Al Quwain
Setting up a business in Umm Al Quwain Free Trade Zone is easy and cost-effective. However, some requirements may seem complex for foreign investors for which they can enlist the services of business setup consultants in Umm Al Quwain such as Jitendra Business Consultants (JBC). JBC is one of the leading providers of company formation services in Umm Al Quwain, UAE. We have been in the industry for more than 20 years, providing efficient business setup solutions for foreign investors.
JBC has a team of highly qualified business setup advisers in the UAE who can help navigate complex procedures such as the selection of business activities, determination of legal structure, drafting documents such as MoA, applying for residency visas, opening a bank account etc. We can also help the investors company with regulatory requirements such as UBO, AML-CFT and ESR. Consult with our experts to open a company anywhere in the UAE.