Features of a company opening in Umm Al Quwain Free Zone
In the UAE, there are special designated areas called free zones. The possibility of full ownership of a company in the United Arab Emirates is the main stimulant for registering a company in the free zone for a foreign investor. Thus, when registering a company, you will not need to spend time attracting an additional local partner, and you will be able to own 100% of your company.
Umm Al Quwain Free Zone is a perfect choice to open such a company in the UAE. Umm Al Quwain Free Zone companies are considered resident companies of the United Arab Emirates. The owner of such a company can obtain UAE resident visas for himself and his employees.
Even being a tax resident, a company registered in UAQ FTZ is not obliged to pay taxes on corporate and personal income. It is also worth noting that this zone provides customers with a fairly wide range of permitted activities. Any investor who chose to register a company in Umm Al Quwain Free Zone will not be limited to returning the share capital and transferring profits.
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The procedure of formation of Umm Al Quwain Free Zone companies
Umm Al Quwain Free Zone is an autonomous territory in the emirate, the administration of which is authorized to register companies and issue licenses to them for various types of activities. However, Umm Al Quwain Free Zone company formation has one significant benefit compared to other free zones.
In practice, a company can be registered without a shareholder arriving in the UAE, if before he has already visited the country and can provide a scan of entry marks in the UAE in the passport. Even if you had previously come to it just as a tourist.
The following types of companies can be registered in Umm Al Quwain free zone:
- Free Zone Company (FZC) – this is a company with two or more shareholders that may be individuals or legal entities. The maximum possible number of shareholders is up to 50.
- Free Zone Establishment (FZE) – this is a company in which there will be only one shareholder. A shareholder may be an individual or a legal entity.
- Branch – this is a branch of an existing company, both foreign and company from the UAE.
Before registering a company, it is necessary to accurately determine the type of activity, since an error in this can lead to increasing of Umm Al Quwain Free Zone license cost to you. The best solution would be to contact the specialists of the consulting company. For example, Uae-consult.com staff will help you register a company in UAQ FTZ competently and quickly. If you need a UAE resident visa, the specialists of this company will help you with this too.
They will also help determine what area of office you need and find the best options at competitive prices, collect the necessary documents and solve all other issues. This variant will be optimal for those who value their time and money.
Umm Al Quwain Free Zone trading license charges
This company is eligible for 2 resident visas, including the visa of the owner (investor)
General trading package
This company is eligible for 3 resident visas
24 hours UAQ company setup professional fee USD 6 000 only
Umm Al Quwain Free Zone license fees and the process of its obtaining
When registering a company in Umm Al Quwain Free Zone, a wide range of business licenses are available to the entrepreneur. Every Umm Al Quwain Free Zone license allows conducting a certain type of business activity.
Types of business licenses available in the UAQ FTZ:
- Commercial Licenses - two types of such licenses are possible. Commercial License allows the export, import, storage, and distribution of products specified in the license. General Trading License allows trading a wide range of products (except for goods prohibited in the UAE).
- Consultancy License - this license is suitable for companies that offer expert and professional consulting.
- Industrial license - this license works for the import of raw materials, for the production, processing, assembly, and packaging of the products indicated in the license and the export of finished products.
- Freelance Permit - this permission allows an individual to work as a freelancer in the technology, media, and content production sectors.
- Service License - this license is suitable for certified professionals and allows them to provide certain types of services in the free zone.
Umm Al Quwain Free Zone license fees depend on the type of license chosen. For questions about their cost and features of obtaining, we recommend contacting specialists of Uae-consult.com.