Mainland Company Formation in UAQ

Want to Know about UAQ?
Want to Know about UAQ?

Umm Al Quwain is the least populated emirate in the UAE. It is also the second smallest in terms of area. The UAQ is located by the Persian Gulf, which is the body of water near it. The UAQ is an emirate that consists mainly of a coastal city for which the Umm Al Quwain is named, and an inland oasis town which is known as Falaj Al Mualla. The main economy of the region consists of fisheries and tourism. However, the authorities are trying to incentivize the growth of the trade and industry in the region by offering several benefits to businesses located here. 

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UAQ main company setup

Business Setup in Umm Al Quwain Mainland

Mainland company formation in UAQ has a lot of benefits. As the local authorities are providing a lot of incentives to bolster the emirate’s economy. Business conglomerates, SMEs, micro-businesses, and startups can benefit from these incentives to gain a competitive advantage for their business. Investors will also find many lucrative investment opportunities in UAQ. Business formation in both UAQ free zone and the UAQ mainland has its advantages.

If you are looking for a company formation in UAQ mainland, our professional consultants can help you get started. Our expert business setup consultants have completed the registration process for UAQ mainland company formation countless times. As a result, they have the necessary experience to set up a new company without any hassle. If you are having trouble deciding on which industry to enter, you can still contact our consultants as they have extensive market research and industry experience in Umm Al Quwain.

 

Advantages of Mainland Business Setup in UAQ with us

Here are the advantages of choosing us for your business setup in Umm Al Quwain mainland:
  • No duties on import and export;
  • 100% foreign ownership, depending on the approval of regulatory bodies;
  • No capital gain, corporate, and income taxes;
  • Businesses are allowed to repatriate capital, funds, and profits;
  • Modern infrastructure;
  • Low energy and real estate costs;
  • Inexpensive labor force;
  • Liberal labor laws;
  • No recruitment issues
UAQ mainland company formation

Procedure for Mainland Company Formation in UAQ

Here are the steps required for the formation of a new company in Umm Al Quwain mainland: 

1
Economic activities

First of all, you need to decide on the business activities you mean to perform in UAQ mainland. You need to check two things when deciding on the business activities. You need to check if the business activity is legal in Umm Al Quwain or not. After that, you need to research if those business activities are profitable in the market. The Company Setup consultants can help you to determine these.

2
Legal form

You need to choose a legal form for your business that is allowed in Umm Al Quwain mainland. The allowed legal forms are businesses in the Umm Al Quwain mainland are Branch Office, Representative Office, Limited Liability Company, Public Shareholding Company, and Professional Firm. Choose the legal form for your business carefully because it will affect what rules and regulations your business is subjected to later into the lifetime of your business.

3
Trade name

You need to select a trading name for your business that is not already registered general journal of the country. The name cannot be available in UAQ and the rest of the UAE. It may be used in other parts of the world but as long as it is not already trademarked in the UAE, you can use it.

4
Trade license

Based on the business activities you choose; you need to apply for the respective trade license that facilitates those activities. There are three types of trade licenses currently allowed in Umm Al Quwain mainland. The first and the most common is the commercial trade license that allows businesses to engage in trade or provide specific non-specialized services. The second is the professional trade license that allows skilled professionals to provide specialized services based on their educational background. The last is the industrial trade license that allows manufacturing or other industrial operations.

5
Initial approval

After you have decided all the previous factors, you need to apply for initial approval from the Department of Economic in Umm Al Quwain. You need to fill up a form with the required information and provide some documents, which we will address in detail later on. There must be no errors when filling up the form or else the process will get more complex and expensive.

6
Special approvals

Depending on the business activities you are looking to perform, you need some special approvals from external agencies and government bodies. These special approvals are mostly provided by the Chamber of Commerce and Industry in UAQ. The Department of Economic Development will mention the special approvals you need after the initial approval.

7
Memorandum of Association

You need to draft a Memorandum of Association for your company. This is an important document that needs to be drafted carefully. If you are not confident then it is best to leave it in the hands of experienced consultants who have drafted MOAs before.

8
Office space

You need to get an office space before completing the registration process. This is mandatory because the lease agreement is a required document without which the Department of Economic Development in Umm Al Quwain will reject your registration. Depending on the size of office space you acquire, you will be able to sponsor several visas for your employees.

9
License fees

Finally, you need to submit all the documents, fill a final form, and pay the fees. The Department of Economic Development will take a few days to review your application after which they will provide the trade license. Upon receiving the license, you are free to conduct your business activities in Umm Al Quwain mainland.



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The Documents Required for Mainland Company Formation in UAQ
  • Copy of the owner’s valid passport.
  • If the shareholder is an Emirati, then a copy of his/her national ID.
  • Copy of the lease agreement.
  • The property certificate if it is available.
  • The authentic copy of the Memorandum of Association.
  • A copy of the business venture’s feasibility study/ business plan.
  • The contract of partnership should there be a partner.
  • If the owner is an ex-pat, then a no-objection certificate and a copy of the visa or residence are required.