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How to set up business in Umm Al Quwain free zone?

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bsblegal
How to set up business in Umm Al Quwain free zone?

“Never depend on a single income, make an investment to create a second source.”- Warren Buffet

The Economy of Umm Al Quwain will be booming with high returns and business developments in the coming years, and a major part in the growth will be played by its Free Zone. It is a golden opportunity for investors to make the most out of this Emirate as it permits 100% business ownership for foreigners, no annual audit, 100% profits and capital repatriation, no import and export duty, quick and easy business registration process, etc, the list is endless!

Why Al Quwain Free Zone? Our corporate lawyers pointed out the following advantages:

  1. 100% tax exemption, on employees’ income too!
  2. Maximum benefits for small-medium enterprises and small businesses.
  3. Licenses are available for freelancers, premium consultants, and micro-business.
  4. No physical presence is needed.
  5. No limit on currency conversion.
  6. Economical options are available for business set-up.
  7. Great ease of doing business.
  8. Seaport in your reach; vital to the global economy.
  9. Best transport, warehouse, and customer services facility.

Umm Al Quwain Free Zone Authority:

It is an autonomous body, backed by the Government, and is responsible for incorporating business companies having valid trade zone licenses.

Process of business set-up in UAQ Free Zone

  1. You can choose the format of your entity depending on your plans:


Free Zone Establishment or single shareholder company;

Free Zone Company or multiple shareholder company;

Branch of an existing company.

2.    The Emirate offers two types of licenses:

General trading license: This license can let you deal in all commodities, subject to UAE laws.

 Commercial license: After taking this license you can deal in distribution, product stores, and exports and imports.

3.    Submit all the required documents, application form, and also pay the license fee amount. To know the exhaustive list of documents, contact a corporate lawyer in UAE. Apart from these, consultancy, premium consultancy, premium commercial, Freelance, and industrial licenses can also be obtained.

4.    Depending upon your license, you can select the facility for your business.

5.    Register your business after obtaining the license. For foreign company owners, the documents have to be attested in their home country by both the UAE Consulate and the Ministry of Foreign Affairs, UAE.

Conclusion

Umm AI Quwain free zone can fulfill your business dreams. If the process is right, you can even start your company in just two working days. Isn’t it great!

Our team of best lawyers in UAE will help you obtain the business license you want and find you low-cost warehouses in no time. BSB Legal is a one-stop solution for all your business set-up and development needs. Book consultation with our top lawyers at [email protected] or call at +97150 8014003.

 

 

 

 

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