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UMM AL QUWAIN COMPANY REGISTRATION
Company registration Umm Al Quwain is straightforward if you meet all the requirements. The United Arab Emirates is made up of a total of seven Emirates. Umm Al Quwain company registration is one of the newest and least well-known Emirates. It is practically in the development stage and is situated close to Dubai and Sharjah.
UAQ is the least populated state in the UAE and has the second-smallest land area in the country. The Emirate is a well-liked vacation spot thanks to its distinctive flora, wildlife, and desert-like landscape. It is a prosperous Emirate with cutting-edge facilities.
Umm Al Quwain offers its businesses a successful, secure, and safe working environment. It has never been easier to create a business base in the UAE thanks to the straightforward and hassle-free business setup.
KEY REQUIREMENTS FOR COMPANY REGISTRATION UMM AL QUWAIN
TIMELINE OF COMPANY INCORPORATION IN UMM AL QUWAIN
TYPES OF BUSINESS ENTITIES IN UMM AL QUWAIN
Partnership Company
Two or more partners are jointly accountable for the debts of the business under this sort of corporate structure.
Joint Venture
This sort of business is set up in UAQ with two or more partners who split profits and losses. Additionally, the business is exclusive to the partnership and does not apply to any other parties.
Limited Liability Company
The most popular business setting structure is an LLC. The company set up in Umm Al Quwain for this type requires a minimum of two and a maximum of fifty partners. Each partner’s liability is limited to their share in the capital.
Public Joint Stock Company
The capital is divided into shares with equal values in this sort of structure. The capital share for such a business is at least 10 million dirhams, and the partner is only responsible for the amount of money that he contributed.
Private Joint Stock Company
In this case, the company needs at least three founders who each contributed the entire founding capital and are accountable for the number of their respective capital shares.
Umm Al Quwain free zones
The newest addition to the UAE’s list of free zones is Umm Al Quwain. Since it was founded in 2014, it has experienced tremendous growth and popularity. Umm Al Quwain, known as the “free zone of the future,” is the perfect free zone for business in the United Arab Emirates due to its stable economy, welcoming investment environment, and affordable living and labor costs.
The free zone’s strategic location, adjacent to the main seaports in the United Arab Emirates and the international airports in Dubai and Sharjah, are the main reasons for starting a business in Umm Al Quwain free zones. The different licenses offered under UAQ free zone are commercial license, General trading, Industrial license, Consultancy licence, Freelance permit, and service license.
DOCUMENTS REQUIRED FOR COMPANY REGISTRATION IN UMM AL QUWAIN
- Passport copies of shareholders and directors
- Passport copy of the manager
- Shareholders’ proof of address
- Managers’ proof of address
- Memorandum and Articles of Association
- Certificate of incorporation
- Board resolution and power of attorney
HOW TO REGISTER A BUSINESS IN UMM AL QUWAIN COMPANY REGISTRATION
Selecting a Business Activity
Finalising the business activity is the first and most crucial step if the applicant wants to start a business in Umm Al Quwain because doing that is necessary to finish the licence application process. In order to obtain a company licence, an activity must be chosen. One cannot conduct business without a licence.
Choosing an Office Space
Any location that suits the applicant and is practical for the work might be chosen. One can select from a variety of work environments, including an office, a warehouse, a workshop, or a piece of land.
Application Form
An application form must be filled out and sent to the authorities. After submission, an invoice will be provided to the applicant. The mentioned amount needs to be paid in order to speed up the company formation in Umm Al Quwain.
Applying for a license
The applicant must apply for the licence after the fees have been paid. Here, one must provide the necessary paperwork as requested by the authorities. After receiving the licence, opening a bank account as well as applying for a resident visa will be simple.
Refer to Trade license Umm Al Quwain for more information.
BENEFITS OF REGISTERING A COMPANY IN UMM AL QUWAIN
Low-Cost Manufacturing and Entrepreneurial Operations
In terms of economics, the UAQ Free Trade Zone is a highly attractive choice that could help the business owner save a lot of money without compromising on quality. The quality and cost are better than any other Emirate. This makes Umm al Quwain Company registration profitable for investors.
Rules and regulations that are beneficial for investors
There are various rules and regulations that are beneficial to investors thanks to forward-thinking authorities who are eager to attract entrepreneurs to the UAQ Free Trade Zone. A few of them include no capital proof is required to launch a firm, easy paperwork, modern corporate laws, etc.
Quick business formation
You can launch a business in the UAQ Free Trade Zone without being concerned that you’ll make mistakes throughout the incorporation process by using its network of advisers and specialists. Before the prime locations for the redevelopment are taken, you can also discuss the best location for your company.
Modern Infrastructure
UAQ is in the midst of developing into a smart, sustainable industrial city that is ideal for startups and SMEs. Whether it is logistics, outsourcing, or creating an R&D hub, it has a lot to offer. It makes it fascinating for investors to register company Umm Al Quwain.
WHY CHOOSE RELIN CONSULTANTS FOR UMM AL QUWAIN COMPANY INCORPORATION?
Our team at Relin Consultants will help you with company registration, incorporation, and legal consulting services. Our team of experts has complete knowledge of UAE laws and will take care of all the documents and paperwork while applying for visas and business licences. All of the legal procedures and agreements will be handled by our team.
Reach out to us at Relin Consultants to know more about our business setup services in Umm Al Quwain.
FAQs
Is it easy to set up a business in Umm Al Quwain?
Setting up a business in Umm Al Quwain, like in any other region, can be a complex process and may involve various legal and administrative steps. However, the United Arab Emirates (UAE) government has taken several measures to ease the process of doing business and make it more attractive for foreign investors.
The Umm Al Quwain Department of Economic Development (DED) provides a one-stop-shop service for business registration and licensing, which simplifies the process of obtaining the necessary approvals and licenses. Additionally, Umm Al Quwain free zone offers a range of benefits such as 100% foreign ownership, no corporate taxes, and easy access to markets.
How can I check if a company is legal in Umm Al Quwain?
You can check if a company is legal in Umm Al Quwain by checking if it is registered with the Umm Al Quwain Department of Economic Development (DED) and the Umm Al Quwain Chamber of Commerce and Industry.
You can also visit the DED or Chamber of Commerce and Industry websites and search for the company’s name or trade license number. This will give you information about the company’s registration status, trade licence details, and other relevant information.
Additionally, you can check if the company has a valid commercial licence issued by the DED, which allows it to conduct business within the Umm Al Quwain.
Is Umm Al Quwain tax-free for business?
Umm Al Quwain is not tax-free for business, but it does offer certain tax benefits for companies operating within the emirate.
Generally, companies operating in Umm Al Quwain are subject to corporate income tax between 0% to 9% and value-added tax (VAT) at the standard rate of 5%. However, there are certain exemptions and reductions on the taxes that apply to certain types of businesses and activities.
Companies operating in the Umm Al Quwain free zone enjoy 100% corporate income tax exemptions and 0% value-added tax (VAT) for the first five years of their operations. This makes it an attractive option for foreign investors looking to set up a business in the UAE.
How long will it take to incorporate a company in Umm Al Quwain?
It can take between 3 to 15 weeks to complete the Umm Al Quwain business setup.
What is company formation cost in the Umm Al Quwain free zone?
The cost of company formation in the Umm Al Quwain free zone can vary depending on several factors, such as the type of business activity, the number of shareholders, and the size of the company.
What are the business licences available in Umm Al Quwain?
The types of business licences available in Unn Al Quwain are Commercial License, General Trading licence, Consultancy License, Micro Business License, Freelance permit, and Service License.
Is it mandatory to have a physical office in Umm Al Quwain for company incorporation?
Whether or not it is mandatory to have a physical office in Umm Al Quwain for company incorporation depends on the specific requirements of the Umm Al Quwain free zone where you are incorporating your company.
In most of the Umm Al Quwain free zones, it is mandatory to have a physical office space in the free zone where the business activities of the company are carried out. This office space is usually leased or rented from the free zone authority and the size and location of the office will depend on the type of company and the nature of its business activities.
However, some free zones in Umm Al Quwain offer virtual office services, which allow the company to register and operate without the need for a physical office space.
This option is intended for companies that conduct most of their business activities online or remotely. But this will depend on the free zone and their policies.
What documents are required for Umm Al Quwain offshore company registration?
Documents required to register an offshore company in umm Al Quwain are Passport copies of shareholders and directors, Passport copies of the manager, Shareholders’ proof of address, Managers’ proof of address, Memorandum and Articles of Association, Certificate of incorporation, Board resolution and power of attorney, etc.
What kind of companies are eligible to be part of the Umm Al Quwain Free Zone?
Umm Al Quwain Free Zone (UAQ FTZ) offers a variety of business activities that are eligible for company formation. Some of the most common types of companies that are eligible to be part of the UAQ FTZ include the following.
- Trading companies: These companies import and export goods and products and are involved in wholesale and retail activities.
- Consulting and professional services companies: These companies provide services such as legal, accounting, engineering, and IT services.
- Industrial companies: These companies are involved in manufacturing and production activities, such as food processing, machinery and equipment, and chemicals.
- E-commerce and online businesses: These companies operate online and conduct most of their business activities through the internet.
- Service companies: These companies offer a wide range of services, including shipping, logistics, travel and tourism, and hospitality.
What is the minimum capital requirement for business setup Umm Al Quwain?
The minimum capital requirement for business setup in Umm Al Quwain varies depending on the type of company and the nature of its business activities.
In general, most of the Umm Al Quwain free zones do not have any minimum capital requirement for company formation. However, some free zones may require a minimum share capital for certain types of business activities.
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