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The Umm Al Quwain Free Trade Zone (UAQ) Company Formation

November 29, 2021by Mohammed Rahali

The Umm Al Quwain Free Trade Zone (UAQ) Company Formation

In Brief

Umm Al Quwain Free Trade Zone (UAQ FTZ) is located in Umm Al Quwain, a friendly, progressive and prosperous UAE Emirate with modern infrastructure and is a fantastic location for entrepreneurs who wish to set up a free zone company in the UAE. This Free zone facilitates quick company formation in Umm Al Quwain and is one of the best places for any prospective UAE business owner planning to start a new business, relocate to a foreign company, or start a subsidiary or branch. Therefore if you are looking for any of these then this is the best location for you.

All licenses are registered with a structure of LLC, IFZA processing is streamlined insuring a fast turnaround.”

 

1. WHY SHOULD YOU CHOOSE UAQ FOR YOUR COMPANY SETUP?

Umm Al Quwain Free Trade Zone (UAQ FTZ) is located in Umm Al Quwain, a friendly, progressive and prosperous emirate with modern infrastructure. is the place for any new business person planning to start a new business, shift company, start sister company or branch of a company located in other countries. Therefore if you are looking for any of these then this is the best location for you. Since thousands of ex-pats assure that Umm Al Quwain Free Trade Zone is the cheapest and nearest trading zone in UAE, every year many new companies are formed. In addition to the cost and ease of transport, the benefits provided by the Umm Al Quwain Free Trade Zone is a bonus. UAQ FTZ is an ideal location for Micro Businesses, small and medium-sized enterprises to do business in a safe and secure free trade area environment and is one of the most attractive places for your effective investment in the area.

 

2. WHAT TYPE OF COMPANY LICENSES ARE AVAILABLE IN UAQ?

Consultancy License business professionals providing expert and professional consultancy services across all industries.

Commercial License import, export, distribution, consolidation, storage or warehousing of goods specified in the license.

  General Trading License enables the licensee to trade in a wider range of activities and gives the freedom and flexibility to trade in any commodity which is permitted within the UAE.

Premium Consultancy License It permits to carry out the services specified on the license within the Free Zone, such as Logistics, Courier Services, Travel Agency, Car Rental etc.

Freelance Permits this License allows an individual to operate as a Freelance professional.

Industrial License It allows the holder to import raw materials for the purpose of manufacturing, processing, and/or assembly of specified products.

Service License it permits the licensee to carry out the services specified on the license within the Free Zone, such as Logistics; Courier Services; Insurance Service Provider; Travel Agency; Tour Services; Car Rental etc.

Type of License Fees in AED
Commercial License (2 VISAS) Starting from AED 20,500*
Consultancy License (2 VISAS) Starting from AED 20,500*
General Trading License (3 VISAS) Starting from AED 27,500*
Premium Consultancy License (3 VISAS) Starting from AED 32,500*
Micro Business License (NO VISAS) Starting from AED 13,500*
Freelancer Permit ( 1 Visa) Starting from AED 16,500*

*Note that these fees are subject to change at any time and without prior notice.

3. WHAT ARE THE KEY BENEFITS OF COMPANY FORMATION IN UMM AL QUWAIN?

  • No corporate and personal income tax
  • 100% foreign ownership
  • Full range of business activities permitted
  • 100% repatriation of capital and profits
  • No currency restrictions
  • 100% import and export tax exemption within the Free Zone
  • The simple and fast registration process with excellent customer support
  • Hi-tech facilities including office, warehouse and land availability
  • Strategic location with access to over two billion consumers
  • Ideal location for SMEs and micro-businesses
  • Special concessions at UAQ’s seaport
  • No restrictions on hiring foreign employees
  • Close to two international airports and major seaports
  • Modern and investor-friendly rules and regulations

 

4. WHAT ARE THE REQUIRED DOCUMENTS FOR SETTING UP A COMPANY IN UAQ?

  • Brief CV – personal, educational and professional details
  • Passport ID Photo
  • Passport Copy
  • Proof of residence address – less than 2 months old (i.e. Utility bill)
  • Business Plan

 

5. WHAT ARE THE DOCUMENTS YOU GET AFTER COMPANY FORMATION IN UMM AL QUWAIN?

  • Certificate of Registration
  • Trade License
  • Memorandum of Association (MOA)
  • Articles of Association
  • Share Certificate

 

6. HOW CAN WE ASSIST YOU WITH COMPANY FORMATION IN UAQ?

If you wish to discuss your intention for a Company Setup in Umm Al Quwain, or any other legal entity, feel free to contact us today.

Wincore specializes in Tax, Corporate and Fiduciary matters. We provide pragmatic, flexible and efficient solutions to individual entrepreneurs, startup businesses, foreign and local SMEs, multinationals, wealthy international families, HNWIs and UHNWIs.

Wincore Advisory Group’s full range of services on CRS (AEOI) – OECD exchange of information; Economic Substance Regulations; Trust & Foundation; Asset protectionEstate & Tax Planning; Corporate Services; Sophisticated UAE Sponsorship Planning; Residency & Citizenship Services ( Foreign second passports).

 

 

mm

Mohammed Rahali

Managing Partner

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