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UMM AL QUWAIN BUSINESS TRADE LICENSE
A Trade Licence in Umm Al Quwain is an essential permit that enables a company to legally conduct business operations within the emirate.
It is granted by the local government and serves as an official recognition of a company’s legitimacy and presence in the region.
To obtain a Trade Licence, a company must undergo a formal registration process with the relevant authorities in Umm Al Quwain and comply with various legal requirements.
The Trade Licence acts as a gateway for companies to establish and grow their business in the UAE, and is an indispensable component of a successful business strategy in Umm Al Quwain.
HOW TO GET TRADE LICENCE IN UMM AL QUWAIN
Identifying the Right Licensing Type
When registering the business in Umm Al Quwain, it’s essential to choose the appropriate licensing type based on the nature and scope of business activities. Different types of licences have varying requirements and fees.
Selecting a Business Entity
The applicant must pick a business entity that best aligns with their business activities in Umm Al Quwain. The available options are:
- Free Zone Establishment (FZE) for small businesses with a single shareholder
- Free Zone Business (FZC) for larger enterprises with 2 to 50 shareholders
- Branch of an Existing Business
For more information refer to Umm AL Quwain company registration.
Preparing and Submitting Required Documents
After selecting the facilities needed for the business, such as an office or warehouse, the business owner should register the trade name with the relevant authorities and gather all necessary documents. These documents must then be submitted to obtain the Trade Licence in Umm Al Quwain.
Paying the Licensing Fees
The authorities will notify the applicant of the fees and where to make the payment upon document verification. Upon receipt of payment, the UAQ government will issue the Trade Licence, and the business owner can start conducting business activities.
TYPES OF TRADE LICENCES IN UMM AL QUWAIN
- Commercial Trading licence: Umm Al Quwain commercial licence permits the import, export, distribution, and storage of goods. Ten comparable or three variable product lines may be included in this licence.
- General Trading License: A general trade licence in Umm Al Quwain enables dealing in a wide range of industries, with the exception of a few products like crude oil, alcohol, medicines, and tobacco. A consultation licence is also necessary for any firm that provides expert or professional assistance.
This licence enables companies to import raw materials so they can manufacture, store, assemble, and pack goods in accordance with their Industrial License and export the packaged product.
A consultation licence is necessary for businesses that provide specialised or professional assistance.
Premium Consultancy licence
This licence permits consulting services in several industries, including aviation, real estate, tourism, oil and gas engineering, legal, financial, and shipping and logistics.
One can use their birth name to conduct business with the use of a freelance licence. The License is given to talent, creatives, and some administrative roles and is intended for persons who work in the media, technology, and film industries.
Micro Business License
If a business owner doesn’t require a visa or a physical office and has a limited budget, a microbusiness licence is the best option
Services including logistics, courier services, travel agencies, and automobile rentals are all permitted under a service licence.
TRADE LICENSE UMM AL QUWAIN FEES
The fees for obtaining Umm Al Quwain trade licence, UAE vary depending on various factors, including the type of licence, the nature of the business, and the size of the company.
Typically, the fees for a commercial licence can range from AED 10,000 to AED 15,000, while the fees for an industrial licence can range from AED 15,000 to AED 25,00.
BENEFITS OF GETTING A BUSINESS TRADE LICENSE IN UMM AL QUWAIN
Protection of Business Interests
A trade licence provides legal protection for the business, allowing it to pursue any legal remedies in case of disputes or infringement of its rights.
Compliance with Local Regulations
Obtaining a trade licence ensures compliance with local regulations, helping the business avoid any legal or financial consequences that may arise from non-compliance.
Access to Business Opportunities
A trade licence opens up new business opportunities, such as the ability to bid for government contracts and participate in tenders.
A trade licence serves as official recognition of the business and its legitimacy, allowing it to operate and conduct business activities within the emirate.
Access to Business Resources
Holding a trade licence gives the business access to various business resources, such as support from government agencies and financial institutions.
DOCUMENTS REQUIRED TO GET YOUR UMM AL QUWAIN TRADE LICENSE
- Completely filled out application form
- Passport copy of shareholders, directors
- Passport copy of the manager
- Proof of address of the shareholder (utility bill/bank statements, driving License etc.).
- Proof of address of the manager.
- Memorandum & articles of association.
- Certificate of incorporation
- Board resolution & power of attorney
RENEWAL OF TRADE LICENSE IN UMM AL QUWAIN
The applicant must renew the business trade licence yearly. Investors in UAQ are not permitted to continue operating their businesses after the activity licence has expired, and if they do so without renewing, they can face severe penalties.
If the business owner waits too long to renew the trade licence, he could lose the business licence and face further penalties in addition to having all of the trade activities frozen.
The process for renewing a trade licence in Umm Al Quwain, UAE involves the following steps:
- Obtain a No Objection Certificate (NOC) from the previous sponsor (if applicable).
- Submit a renewal application to the Department of Economic Development (DED) in Umm Al Quwain.
- Pay the renewal fees and provide any other required documents or information.
- Wait for the approval of the renewal application.
- Once approved, collect the renewed trade licence.
Reach out to us at Relin Consultants to know more about services in Umm Al Quwain.
How to apply for an Umm Al Quwain business licence?
To apply for a business licence in Umm Al Quwain, the following steps can be followed:
- Choose a trade name for the business.
- Select the appropriate trade licence category.
- Obtain an initial approval from the Department of Economic Development.
- Submit the necessary documents
- Pay the licence fee.
How much does a business licence cost in Umm Al Quwain?
The cost of a business licence in Umm Al Quwain varies depending on the type of business and its activities. The cost may include fees for the trade name reservation, licence fee, and sponsor fee.
Do small businesses need a licence in Umm Al Quwain?
Yes, all businesses operating in Umm Al Quwain, including small businesses, are required to obtain a trade licence from the Department of Economic Development. The trade licence is a mandatory requirement for all types of businesses, regardless of their size or nature of activities. Obtaining a trade licence ensures that the business is operating legally and in compliance with the regulations and laws of Umm Al Quwain.
How can I get a business licence online in Umm Al Quwain?
In Umm Al Quwain, it is possible to apply for a business licence online through the Department of Economic Development’s e-services portal by following the listed steps:
- Visit the Department of Economic Development’s e-services portal.
- Create an account and log in.
- Select the type of licence you need and fill in the required information.
- Upload the necessary documents, such as passport copies, company documents, and lease agreement.
- Pay the licence fee online.
- Wait for approval from the Department of Economic Development.
Is a trade licence mandatory in Umm Al Quwain?
Yes, a trade licence is mandatory in Umm Al Quwain for all businesses operating in the emirate. The trade licence is issued by the Department of Economic Development and is required for the legal operation of the business. The licence verifies that the business is operating in compliance with the regulations and laws of Umm Al Quwain. Failure to obtain a trade licence can result in legal consequences, including fines and the closure of the business.
Is it hard to obtain a trade licence in Umm Al Quwain?
The process of obtaining a trade licence in Umm Al Quwain may not be difficult, but it requires following a set of procedures and regulations. The exact process and requirements may vary depending on the type of business and its activities. With the help of a professional consultancy firm, this process can be simplified.
How long will it take to get a business licence in Umm Al Quwain?
The time it takes to obtain a business licence in Umm Al Quwain can vary depending on the type of business and the complexity of the application. On average, it may take anywhere from 7 to 14 working days to process a business licence application, provided that all required documents and fees have been submitted and are in order.
However, processing time can also be affected by factors such as the volume of applications being processed and the availability of resources.