Umm Al Quwain Free Zone Company Formation
The Umm Al Quwain Free Trade Zone, located in the UAE’s smallest emirate, was established in 1987. It became recognized by the general public only when Umm Al Quwain free zone company formation authority began promoting its services in 2014. In the first half of 2019, this free zone accounted for 12.4% of Dubai’s international commerce.
Despite its modest size, it provides amenities that more extensive free zones do. Micro Businesses, SME’s, and Conglomerates can do business in a safe and investor-friendly free trade zone environment in the UAQ FTZ. It enables a low-cost business setup in Umm Al Quwain. UAQFTZ is ideal for start-ups, entrepreneurs, and major enterprises to conduct business since it offers excellent initiatives for company owners.
How to Start a Business in Umm Al Quwain Free Zone?
Umm Al Quwain has a cheap cost of living and a stable economy that draws investment and business prospects. So, if you’re thinking about Umm Al Quwain Free zone company formation, there are just a few basic measures you need to take.
To begin, choose the appropriate business license for your organization and the kind of business entity. Then you must decide on a physical location for your company. Make sure you have all of the necessary papers to legalize and certify it. The documents, together with the completed application form, are then sent. Finally, you must pay the relevant fees before receiving your company license.
Here’s the paperwork you’ll need to start a business in Umm Al Quwain:
- Form of application
- A color copy of each shareholder’s passport and the manager’s passport are required.
- MOA and AOA proof of address for each shareholder
- Resolution of the Certificate of Incorporation Board
Because of its flora and wildlife, UAQFTZ is well-known for its desert terrain and as a popular tourist destination. However, it also provides excellent access to foreign markets and enterprises in the MENA area. As a result, the procedure of forming a company in the Umm Al Quwain Free zone has become quite popular among international investors.
Advantages of umm al Quwain free zone company formation
- Corporate and personal income taxes are both zero percent.
- The corporation has 100% foreign ownership.
- Total capital and profit repatriation
- Import and export taxes are excluded in the Free Zone.
- No monetary limits.
- Several business activities to select
- No limitations on international recruiting.
- Registration process is straightforward.
- Process of setup at a low cost
- Regulations that are simple and easy to follow
- Investor-friendly legislation and a favorable business climate
- Ingenious facilities
- Access to significant seaports and an international airport are both available.
Types of Umm Al Quwain Free Zone Company Formation Structures
- A Free Zone Establishment (FZE) is a type of corporation formed with just one stakeholder and is suited for small firms.
- A Free Zone Company (FZC) can be formed with as few as two shareholders and as many as 50.
- A corporation can create a UAQ FTZ to carry out its activities if it is already located in the UAE or elsewhere.