Umm Al Quwain Free Zone Company Formation
The Umm Al Quwain Free Zone is located in the emirate of Umm Al Quwain which is just 45 minutes drive from the Dubai International Airport. The UAQ FTZ is one of the youngest and the largest free zones of the UAE. The location and the size of the zone makes it the best place to invest in the UAE because the zone gives the opportunity to invest in any sector of the economy whether it is the conglomerate, SME, Startup or an industry. The UAE FZ is the free zone that welcomes the investors with less taxing opportunity and easier legal framework model.
Benefits of Umm Al Quwain Free Zone
- There is 0% Corporate Tax and 0% Personal Tax.
- Complete company ownership and repatriation of capital and profits facility.
- 0% Import and export tax.
- There is no currency restriction for doing business here.
- The offices inside the zone UAQFTZ are hi-tech and there is a warehouse facility as well to facilitate the businesses of various kinds.
- The availability of seaport and access to the Sharjah International Airport and the Dubai International Airport makes it the ideal location to invest for the foreign investors.
- Lesser documentation is required for business registration because of the supportive legal framework.
License Categories in UAQFTZ
The type of licenses available for UAQFTZ are as available:
- Commercial License
- General Trading License
- Service License
- Freelance Permit
- Industrial License
Commercial License
The businesses that engage in the sale and purchase of the goods within the UAE and outside of the UAE. This license allows the import, export, storing and distribution of goods that are listed with the license.
General Trading License
A general trading license is a broader category of the license which aims at giving the permission of trading of a huge category of the products. This license is a type of commercial license and allows the trade of the wider range of the products.
Service License
The services license is a category of the license that deals with providing the services of any kind that are beneficial for the general public like professional services, consultancy services, HR services or any kind of the other services.
Freelance Permit
A freelance permit is a permit that is used by the technology professionals, media and film professionals, and roles that an individual can perform. It also allows certain administrative roles on this permit.
Industrial License
An industrial license is the one that is required for the industries to establish. To acquire the industrial license an industry actually requires a physical office or a warehouse. There is also industrial land available on lease.
Process of Company Incorporation in Umm Al Quwain Free Zone
- Choose a minimum of three company names.
- Pay the fees.
- Documents for directors, managers, secretaries, shareholders (if any) and attorneys.
- Documents for company registration.
- Submit the application.
Documents Required for UAQ Free Zone
- Copy of Passport (owner, shareholders and managers)
- Proof of address
- Certificate of incorporation (for branch)
- Memorandum of Association
- Article of Association
- Power of Attorney (if applicable)