UMM AL QUWAIN
UMM AL QUWAIN
The Umm Al Quwain Free Trade Zone was launched to create a conducive investment climate for SMEs, startups, freelancers and MNCs. The process of business setup in Umm Al Quwain Free Trade Zone provides unique benefits such as strategic location, access to more than two billion global customers, and a gateway to lucrative markets in the Middle East. With the help of business setup consultants in UAE, foreign investors can easily avail these benefits. Read ahead to know further about the free zone.
Types of Licenses in Umm Al Quwain Free Trade Zone
Investors need to get a trade license first to start the process of business setup in the Umm Al Quwain Free Trade Zone. The free zone offers the following types of licenses:
1. Commercial License
A commercial license is mandatory to conduct activities such as import, export, distribution and storing of goods stated on the license. By obtaining a commercial license in the Umm Al Quwain Free Trade Zone, the entrepreneurs can have three different product lines or 10 similar product lines.
2. General Trading License
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A general trading license is a type of commercial license with more freedom and flexibility than a regular commercial license. It authorises the license holders to trade in a wide range of activities with the freedom to trade in any goods permitted by the UAE government. Certain risky commodities such as explosives and armaments cannot be traded with a General Trading license issued by Umm Al Quwain Free Trade Zone.
3. Consultancy License
Umm Al Quwain Free Trade Zone issues a consultancy license for companies to provide professional advice and is issued to all kinds of professionals. Consultancy license holders can have two similar activities.
4. Industrial License
An industrial license Umm Al Quwain Free Trade Zone authorised the license holders to carry out activities such as importing raw materials to manufacture, process, assemble, and package products. The license also permits the export of the finished product. Business setup consultants in Umm Al Quwain can help investors to obtain industrial licenses.
5. Service License
Service providers can set up a business in Umm Al Quwain Free Trade Zone by obtaining a service license. A service license authorises activities such as logistics, courier services, travel agency, car rental services etc.
6. Freelance Permit
Individuals can apply for a freelance permit in Umm Al Quwain Free Trade Zone and carry out business in their birth name instead of a company name. The license is issued for individuals who wish to carry out activities in sectors such as technology, media, film etc. Individuals engaged in creative & selected administrative roles can also apply for a freelance license in Umm Al Quwain Free Trade Zone. Business set-up consultants in Umm Al Quwain can help individuals to obtain freelance permits.
7. E-commerce License
Foreign investors can conduct trading of goods through electronic platforms by obtaining an e-commerce license in Umm Al Quwain Free Trade Zone. The E-commerce market, both globally and regionally, is currently a billion-dollar market with long-term growth prospects. Umm Al Quwain Free Trade Zone has adequate infrastructure and logistics facilities to enable e-commerce businesses in the UAE.
Permitted Legal Entities in Umm Al Quwain Free Trade Zone
Investors must choose the right legal structure to start the process of business setup in the Umm Al Quwain Free Trade Zone. The legal structures depend on the number of shareholders in the proposed company. Below are the type of companies allowed in the Umm Al Quwain Free Trade Zone:
1. Free Zone Establishment
A Free Zone Establishment (FZE) is a Limited Liability Company (LLC) with a single shareholder.
2. Free Zone Company
A Free Zone Company (FZC) is an LLC that can be formed with 2-50 shareholders
3. Freelancer Company
Individual professionals can work as a freelancer in Umm Al Quwain Free Trade Zone by obtaining a freelance license.
4. Branch Office
Existing companies can set up their branch offices in the Umm Al Quwain Free Trade Zone. Both local and foreign companies are allowed to open their branches in Umm Al Quwain Free Trade Zone.
Facilities in Umm Al Quwain Free Trade Zone
Access to modern facilities is essential for any business to perform its daily operations without hassle. Companies providing business setup services in Umm Al Quwain can help the investors to choose the right facilities. The free zone offers the following facilities to enhance entrepreneurs’ business opportunities further:
Foreign investors can enhance their business potential with the free zone’s fully serviced, small- and medium-sized office spaces. These facilities are available for both short- and long-term lease with 24-hour access with broadband internet and telephone connection. Office spaces in Umm Al Quwain Free Trade Zone come with fully equipped meeting and conference room facilities. Consult with business setup consultants in Umm Al Quwain for further information.
Warehouses in Umm Al Quwain are available in a variety of sizes. The free zone’s prefabricated warehouse units provide flexible and high-quality solutions for all types of storage and light manufacturing activities. Avail of the best business setup services in Umm Al Quwain to understand the features of the warehouse facilities.
Entrepreneurs can choose from a wide range of land plots for short- and long-term leases. The land plots are available in a wide range of sizes depending on the investors’ business requirements. The land plots are perfect for industrial business owners who wish to set up manufacturing units in the Umm Al Quwain Free Trade Zone.
Process of Business Setup in Umm Al Quwain Free Trade Zone
Investors can set up a business in Umm Al Quwain Free Trade Zone without any complex set of procedures. Entrepreneurs need to understand the free zone regulations and the UAE laws to complete the process of company formation in the Umm Al Quwain Free Trade Zone without any hassle. They need to undertake the following procedures to apply for a license:
- Select a trade license
- Choose a legal structure
- Choose the facility
- Submit documents
- Make payment
- Receive the license
- Open a bank account
Benefits of Business Setup in Umm Al Quwain Free Trade Zone
Umm AL Quwain is the best possible solution for a cost-effective company formation in the UAE. Foreign investors can avail the best facilities and infrastructure by applying for a license in Umm Al Quwain Free Trade Zone. The following are the major benefits of company formation in the Umm Al Quwain Free Trade Zone:
- 100% company ownership
- Zero corporate and personal tax
- Wide range of businesses activities
- Zero restrictions on currency
- 100% tax exemption on imports and exports within the free zone
- Straightforward & flexible company registration process
- Reliable customer support services
- Modern facilities including warehouses, offices & land plots
- Strategic location providing access to global markets
- Proximity to international airports & seaports
- Special concessions at Umm Al Quwain seaport
- Ability to hire foreign workers without any restriction
- Progressive & investor-friendly regulations
- Perfect location for SMEs and micro-enterprises
Compliance Requirements in Umm Al Quwain Free Trade Zone
Companies operating in Umm Al Quwain Free Trade Zone are required to comply with a host of regulations such as Economic Substance Regulations (ESR), Ultimate Beneficial Ownership (UBO) and Anti-Money Laundering and Combatting Financing of Terrorism (AML-CFT) laws. Business owners need to assess whether their companies fall within the scope of those regulations. Business set-up consultants in Umm Al Quwain Free Trade Zone can assist business owners to comply with the regulations.
Access the Best Business Setup Services in Umm Al Quwain
The prices of business setup in Umm Al Quwain Free Trade Zone offer the foreign investors a cost-effective company incorporation solution. Investors with access to reliable business setup services in Umm Al Quwain can obtain the license without any hassle. The incorporation rules, immigration & labour laws may appear to be complex for investors with no prior UAE experience. However, business setup consultants in Umm Al Quwain such as Jitendra Business Consultants (JBC) can help the entrepreneurs to obtain the license quickly.
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 investors. JBC has a team of highly qualified business setup advisers in the UAE who can help navigate complex procedures such as selection of business activities, determination of legal structure, drafting documents such as MoA, applying for residency visas, and 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 company formation specialists to make the first step of company formation in the UAE.