UAQ Free Zone Company Formation
Umm Al Quwain Free Zone is an investor-oriented free zone, with special support options for SMEs and micro-businesses. It offers them a wide advantages list including full ownership and no currency restrictions. UAQ FTZ is conveniently located near the UAE’s primary seaports and within an hour-drive of Dubai and Sharjah International Airports, which ensures the needed access to the rest of the world.
There are 6 types of licenses; each covers a certain set of activities and benefits. For instance, the commercial license is the most suitable for the business that performs import, export, distribution, or storing activities. The other available types of license are general trading license, consultancy license, industrial license, service license, and a freelance permit.
UAQ Freezone License
UAQ Free Zone Trade License
The Umm Al Quwain Free Zone Authority recognizes more than a thousand business activities in their jurisdiction. They have categorized all these business activities under three types of business licenses. These licenses are for both companies and standalone service providers.
You can set up these companies through the services of experienced consultants at Company Setup. As a foreigner, if you are going for a company formation in Umm Al Quwain Free Zone, then you can apply for one of these three business licenses:
- A premium consultancy as well as a consultancy license for consultancy services.
- Commercial license for trading activities./li>
- Service license for skilled professionals for trading or selling their services.
- Industrial license for manufacturing, packaging, distributing activities, etc.
- Freelance permits to set up small companies.
It is important to know that major trends are leading to the need for international investors to set up sole traders as well as freelance activities which are included in the micro business license. It is a freelancer permit that helps small companies to start their business. Large companies required industrial licenses only.
Umm Al Quain Company Setup Benefits
- There are some amazing and spectacular benefits of considering the UAQ free zone.
- Fast and efficient business set-up and support services.
- Uncountable facilitations that are perfect for individual businesses.
- You can prefer either an FTZ or non-FTZ based on your preferences.
- Reduced cost of business operations and formation as well.
- Massive return on investments.
- Effective and efficient business formation as well as services.
- Easy to operate.
- No corporate tax.
- Fully owned businesses.
- UAE visa issuance could be run on the fast track.
UAQ Free Trade Zone Company Setup Advantages
Here are some of the important advantages that attract a massive number of businessmen to the UAQ Free Trade Zone:
- Time-efficient formation process.
- Huge return on investments.
- Quick formation process.
- All currencies consideration in the trade market.
- Highly advanced facilities.
- Modernized infrastructure.
Umm Al Quwain Free Zone Business Structures
Documents Required for Umm Al Quwain Free Zone Company Setup
As the authority wants to increase the ease of doing business in the UAQ Free Trade Zone. They require some of the most basic documents that are easy to procure. Here are the documents required for setting up any business in Umm Al Quwain Free Trade Zone:
- Copies of the passport of all the owners of the business.
- Passport-sized photographs of all the owners of the business.
- Proof of address of all the owners of the business (the proof can be provided through utility bills like electricity bill, water bill, etc.)
- Filled application of the incorporation of the company that is signed by the owners.
These are the documents required for setting up any kind of business with any kind of license in UAQ FTZ. Some more documents may be required for some specific types of businesses. For example, if you are going to provide a specialized service that requires substantial skill and knowledge about the subject, then the authorities will ask for documents validating your education and experience regarding the subject.
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1. Can I run my UAQ FTZ business from Dubai?
Yes, you can reside in Dubai or any of the other Emirates and still start and operate your business in UAQ FTZ.
2.Can I use my bank account in Dubai for my business in UAQ FTZ?
Yes, you can use your bank account in Dubai or any of the other Emirates for your business in UAQ FTZ.
3. Do I have to be present in the UAE for business setup in UAQ FTZ?
No, you do not have to be present if you open your business through the help of Company Setup consultants. However, you are required to visit the UAE at least once.
If you have any other questions, our consultants are always ready to answer them for you.