Establishment of a company in the Umm Al Quwain Free Zone

Establishing a company in the free zones in Umm Al Quwain provides many privileges and profitable business opportunities for businessmen and investors, due to the Emirate of Umm Al Quwain’s wonderful strategic location. The most important characteristic of establishing a business in the free zones in Umm Al Quwain is that the regulatory authorities do not impose a minimum capital to establish your company, and allow many different licenses such as general trade, free licenses, service licenses, industrial licenses, and national industries.

Most companies in the free zones in Umm Al Quwain operate in the sector of exporting, importing and re-exporting goods. In order to be able to obtain quick procedures in a short time, you must seek the assistance of a business consultant who will complete the procedures you need to establish your company. Farahat Consulting Office in the Middle East includes a large group of business consultants who are experts in business preparation and company establishment, who can help you with many services before establishing a company in the free zone and after starting your business.

Establishing companies in the free zones in Umm Al Quwain

Choose the type of company by determining the appropriate type of company, such as a limited liability company (LLC), sole proprietorship, or others. Steps to establish companies in the free zones in Umm Al Quwain: The following steps can be followed:

• Choosing a business activity: Determine the company activity you intend to carry out in the free zone.
• Submitting the application: Submitting an application to establish the company to the Umm Al Quwain Free Zone Authority, attached with the required documents.
• Commercial License: Obtaining a commercial license from the free zone authority, which includes specific conditions for the company’s activity.
• Visas and Work: Arrangements for obtaining work visas for foreign employees if necessary, which vary depending on the type of company and scheduled activities.
• Social Insurance: Registration in the social insurance system if this is required according to the laws of the free zone.
• Banks and bank accounts: Opening a bank account for the company to manage financial and commercial matters.
• Tax registration: Registration with the Federal Tax Authority if the company is required to do so.
• Personal visas: Arrangements to obtain residence visas for shareholders and employees if necessary.
• Contracts and agreements: Arranging the necessary contracts and agreements with customers and suppliers according to the company’s need.

It is preferable to consult Itqan Company in establishing companies to ensure that all local procedures and regulations are followed correctly.

Reasons for establishing a company in Umm Al Quwain

There are several reasons that push investors to establish companies in the Emirate of Umm Al Quwain, the most important of which are:

Attractive investment environment:

1. Low and transparent tax system with attractive tax breaks.
2. The possibility of full ownership of the company by a foreign investor.
3. Advanced infrastructure and efficient logistics services.

Low operational cost

1. Establishment and operating costs are lower compared to some other emirates.
2. Rental rates and staff costs are reasonable.

Strategic location

1. Umm Al Quwain’s proximity to other emirates and neighboring countries.
2. Easy access to major ports and airports.

Economic diversification

1. The presence of promising sectors such as tourism, industry and logistics services.
2. Government efforts to diversify the economy and attract investments.

Political and legal stability

1. A safe and stable politically and socially environment.
2. The legal framework regulating business and investment operations.

Overall, Umm Al Quwain is an attractive destination for investors looking for a favorable investment environment and reasonable operating costs. Local legal advice by Itqan Company is important to understand the requirements for establishment and operation in the emirate.

Advantages of establishing a company in Umm Al Quwain

Establishing a company in the Umm Al Quwain Free Zone provides several advantages and business opportunities, including:

• Complete independence: Companies in free zones enjoy complete independence in managing their business without direct government interference.
• Customs facilities: An opportunity to benefit from customs facilities and not impose duties on import and export within the free zone.
• Flexible legislation: Free zones provide a flexible legislative environment that supports the speed of establishment and operation of companies.
• Low administrative costs: Provides low administrative and operational costs compared to the main market.
• Access to regional markets: A strategic location that allows easy access to regional markets in the UAE and the region.
• Advanced Infrastructure: Umm Al Quwain Free Zone provides advanced infrastructure that supports business and facilitates communications and transportation.
• Government support: The local government provides support and facilities to companies registered in its free zone to promote investment and development.
• Local and foreign investments: Opportunities to benefit from local and foreign investment flows into the free zone. These advantages make the Umm Al Quwain Free Zone an attractive option for companies looking for a flexible business environment that supports growth and expansion.

Documents required to establish a company in Umm Al Quwain

To establish a company in a free zone in Umm Al Quwain, the required papers usually include the following:

• Registration application form: includes basic information about the company, such as its name, type, and proposed business activity.
• Investment Agreement Form: If there is a need for this according to the policies of the free zone.
• Copy of passport: for shareholders, main managers and partners if they are individuals.
• Business plan: describes the company’s objectives and operational plans.
• No objection certificate: for managers and shareholders if they are natural persons.
• Shareholder signature form: to confirm their agreement to establish the company and comply with the terms and regulations.
• Power of attorney form: If there are agents acting on behalf of shareholders or directors.
• Lease contract or user license: to confirm the address of the legal office or head office of the company.
• Financial Certificates: If there is a need to prove the financial resources of the company.
• Authorization to legal advisor: If there is a need for representation by a legal advisor.

Specific requirements for each free zone in Umm Al Quwain should be checked, as the required documents may vary based on the type of company and proposed activities. It is preferable to consult Itqan Company, specialists in the field of establishing a company in the free zone, to ensure the completeness of the documents and legal compliance with the incorporation procedures.

Licenses in Umm Al Quwain Free Zone

Umm Al Quwain Free Zone provides an ideal environment for startups and businessmen wishing to start their businesses in the Emirates. Here are the types of licenses you can get in the Umm Al Quwain Free Zone:

• Commercial License: Allows you to engage in commercial activities such as importing, exporting, distributing and selling goods.
• Industrial License: Designated for companies that wish to manufacture or assemble products within the free zone.
• Professional License: Granted to companies that provide specialized services such as consulting, legal services, information technology services, etc.
• E-commerce license: Allows you to run a business online, including buying and selling online.
• General License: Allows companies to engage in multiple activities under the same license.
• Services license: for companies that provide services such as hospitality, education, health care, etc.

Itqan Company has experience in establishing companies in the Emirates

Although we obtain the licenses you need, regardless of your type of activity and the sector in which you choose to work, our services include many solutions for business preparation, trademark registration, obtaining visas for employees and investors, securing government approvals, accounting services, bookkeeping, and tax services.

Over the course of two decades, during which our business consultants in the Itqan Office were able to provide the best solutions and procedures in establishing companies, our first goal is to help you in all steps in preparing your business activity and establishing your company, and we are proud of what we have provided to our clients, businessmen and investors, in a short time and with quick procedures.

You must know that establishing your business and company in a foreign country will be difficult without seeking the help of a business consultant who will help you prepare the necessary documents, certify them, and submit them to the competent and concerned authorities until obtaining the commercial license.

Umm Al Quwain Free Zone is located close to the seaports of the UAE and a one-hour drive from Dubai International Airport and Sharjah International Airport, ensuring easy access to the rest of the world. Thanks to Umm Al Quwain Free Zone’s investor-friendly environment, establishing a business base in The UAE is simpler than that. SMEs and microenterprises specifically, will benefit from setup costs, 100% business ownership and zero currency restrictions.

At the conclusion of the article about establishing a company in a free zone , we can emphasize the importance of the strategic and legal steps that must be followed to ensure the company’s success and its benefit from the available facilities and opportunities. Establishing a company in a free zone requires good planning and assistance from business experts to ensure compliance with local laws and take full advantage of the financial and tax benefits offered. By benefiting from the free zone’s flexible and supportive business environment, companies can achieve growth and expansion into local and regional markets efficiently and effectively.

Frequently asked questions about establishing a company in the free zone