Setting up a business in a Freezone offers numerous advantages, and Umm Al Quwain Freezone (UAQ FTZ) is an appealing choice for many entrepreneurs. The Umm Al Quwain Free Trade Zone (UAQFTZ) is strategically located between Ras Al Khaimah and Ajman, encompassing the vibrant coastal city of Umm Al Quwain and the serene inland oasis of Falaj Al Mualla. Governed by H.H. Sheikh Saud bin Rashid Al Mu'alla and H.H. Sheikh Rashid bin Saud bin Rashid Al Mu'alla, this zone operates within the UAE's second smallest and least populated emirate. Despite its size, it is rapidly emerging as a prominent hub for setting Up your company in Umm Al Quwain Freezone, celebrated for its picturesque landscapes and refreshing beaches.
UAQFTZ is renowned not only as a prime destination but also for its secure and thriving business environment across various sectors. Its contemporary legal framework and state-of-the-art infrastructure make it an attractive investment location, fostering further economic growth.
Umm Al Quwain Freezone, located in the northern part of the UAE, offers a strategic location with easy access to major cities and ports. It's becoming increasingly popular for businesses looking for a cost-effective and efficient way to enter the UAE market. The freezone provides a range of facilities and services tailored to meet the needs of various industries, from trading to manufacturing.
One of the main advantages of setting up your company in Umm Al Quwain is the significant cost savings on office space and lower operational expenses compared to other UAE-free zones.
Additionally, Umm Al Quwain provides a range of business licenses for different sectors, including commercial, industrial, and service licenses, which cater to diverse business needs. The steps in setting up your company in Umm Al Quwain involve selecting the appropriate license, choosing a business activity, preparing the necessary documentation, and completing the registration process with the Umm Al Quwain Free Zone Authority.
Following are the documents required:
Passport Copies: Manager, shareholders, and directors
Proof of Address: Shareholders
Memorandum & Articles of Association
Passport Copies: Manager, shareholders, and directors
Proof of Address: Shareholders
Memorandum & Articles of Association
Passport Copy: Manager
Proof of Address: Manager
Certificate of Incorporation
Memorandum & Articles of Association
Board Resolution & Power of Attorney
Here are some key advantages of setting up your business in Umm Al Quwain:
Cost-Effective Setup: Umm Al Quwain offers some of the lowest business setup costs in the UAE, including affordable office space and competitive licensing fees.
Strategic Location: While less crowded than Dubai or Abu Dhabi, Umm Al Quwain is strategically located with easy access to major cities and ports in the UAE.
Business-Friendly Environment: The free zones in Umm Al Quwain provide a supportive environment for businesses, including simplified administrative processes and access to government services.
Tax Benefits: Enjoy 100% exemption from corporate taxes and personal income taxes, along with no restrictions on the repatriation of profits.
Flexible Business Licenses: Umm Al Quwain free zones offer a range of business licenses, including trading, industrial, and service licenses, catering to various business needs.
Quick Setup and Approval: The process for company registration and licensing is streamlined, allowing for faster setup and operational readiness.
Modern Infrastructure: Access to modern infrastructure, including business centers, warehouses, and technology facilities, supports business operations and growth.
Proximity to Ports: Close proximity to Umm Al Quwain Port provides logistical advantages for import and export businesses.
Umm Al Quwain Freezone offers a range of licenses to different business activities. These include:
Trading License: For businesses involved in the import, export, and sale of goods. This license covers a wide range of commercial activities.
Industrial License: Suitable for companies engaged in manufacturing and industrial activities. This license supports various types of production and assembly operations.
Service License: Designed for businesses providing professional or consultancy services. This license is ideal for service-based companies that provide legal, financial, or IT services.
General Trading License: Allows businesses to trade in multiple categories of goods, offering more flexibility compared to a standard trading license.
Follow the steps for setting up your business in Umm Al Quwain:
The initial step in establishing your company in the Umm Al Quwain Free Trade Zone (UAQFTZ) is to determine the most suitable entity and license type for your business needs. You have the option to choose from three entity structures and five types of licenses.
UAQFTZ offers a range of workspace options, including offices, warehouses, coworking spaces, and designated land areas. Our team is available to help you select the workspace that best fits your business requirements.
To proceed, complete an application form and submit it to the Umm Al Quwain Free Trade Zone authority, along with the applicable fees. We will gather and submit the necessary documents based on your chosen entity. After obtaining your business license, you can then open a corporate bank account and apply for visas.
Setting up your company in Umm Al Quwain Freezone offers numerous benefits, including cost savings, tax exemptions, and simplified procedures. By understanding the advantages and following the outlined steps, you can successfully establish your business in this strategic and cost-effective location. Whether you're starting a trading company, industrial venture, or service-based business, Umm Al Quwain Freezone provides a supportive environment for growth and success.
Dhanguard is here to make your venture into setting up your company in the Umm Al Quwain Free Zone smooth and efficient. We provide expert guidance on the numerous advantages of setting up your business in Umm Al Quwain, including cost-effective solutions and strategic location benefits.
Our team will help you with the various types of licenses offered by Umm Al Quwain, ensuring you choose the right one for your business needs.
From initial consultation to final registration, we will assist you through every step in setting up your business in Umm Al Quwain, ensuring compliance and streamlining the process for a hassle-free experience.
A freezone in Umm Al Quwain (UAQ) is a designated area that offers businesses special benefits such as tax exemptions, 100% foreign ownership, and simplified setup procedures. UAQ Free Trade Zone (UAQ FTZ) is the specific freezone authority in this emirate.
Advantages include 100% foreign ownership, no personal income or corporate taxes, full repatriation of profits and capital, strategic location with access to major seaports and airports, simplified company formation process, and a wide range of business activities allowed.
UAQ FTZ offers various licenses, including commercial licenses, industrial licenses, consultancy licenses, freelance permits, service licenses, and general trading licenses.
The process involves selecting the business activity, choosing a company name, submitting the required documents (such as passport copies and business plan), obtaining initial approval, signing legal documents, and receiving the business license and other certificates.
The setup process is relatively quick and can typically be completed within 2 to 7 working days, depending on the complexity of the business and the prompt submission of required documents.
Costs vary based on the type of license, number of visas, and office space requirements. Generally, setup costs are lower compared to other emirates. It's advisable to contact UAQ FTZ for precise fee details.
Yes, businesses established in UAQ FTZ can open bank accounts in UAE banks. The freezone authority can assist with the bank account opening process by providing necessary documents and introductions.
