What is Umm Al Quwain Free Zone? Is there a company setup cost in UAE? How to begin a new business in UAE? When you plan to establish your business in the UAE, most people want to know the procedures involved. Let me tell you that it’s a simple process because all you need to follow are the right steps.
Reasons to set up a business in Umm Al Quwain Freezone -UAQfZ
Umm al Quwain Free Zone is the fastest growing free zone in the UAE and one of the most popular. It is home to a variety of industries ranging from manufacturing to finance, retail, and many more.
- The process for setting up in Umm Al Quwain is fast and easy. You can get started with no presence in the country, which means you can do it from anywhere.it has a low-cost solution for businesses looking to set up a company in the UAE. The government provides a lot of support for new businesses, and there are no taxes or fees for companies that want to open a business here.
- Umm al Quwain Free Zone has an excellent track record of helping businesses grow quickly—and now is the time to take advantage of that opportunity
- The free zone has a number of licenses available such as industrial licenses, commercial licenses, service licenses, , personal licenses, and freelance permits.
- No import or export duties on goods that are sent or received from outside the free zone. This makes it easier for businesses to import goods and materials, which can be expensive when done through custom duties.
- No income tax on profits made within the free zone. This makes it easier for companies to reinvest in their business, rather than having to pay taxes on their profits each year.
- The ability for foreign nationals who are not citizens of the UAE or GCC countries to own 100% of a company within the UAQFA without needing permission from any government entity.
Benefits of UAQFTZ
The UAQ Free Zone offers a wide range of business facilities for companies set up in UAQ Free Zone to conduct their business activities and services in an efficient manner.
100% tax exemption on corporate and personal income, 100% ownership of company assets, 100% repatriation of capital and profits, no share capital requirements, no minimum staff levels required (though there is a small annual fee), full range of business activities permitted within the special economic zone and a simple registration process with fast turnaround times.
Documents required for new business setup in umm al Quwain free trade zone are:
- Passport of the owner and shareholders.
- Proof of residency.
- Application form.
- MOA (Memorandum of Association).
- Incorporation certificate and POA (Power of Attorney).
- Board resolution approving the MOA and POA signing by all shareholders
At Business Setup Dubai, We can help you get started with the registration process, or even help you find the perfect location for your new business. If you’re interested in an E-commerce or any other industrial company, we can help with that too! We have contacts in Umm Al Quwain’s Free Trade Zone who can guide you through every step of the process, so you can be sure that everything goes smoothly. If you want advice about the best industries for new companies in Umm Al Quwain, we’d love to hear from you!