Umm Al Quwain Free Trade Zone
The Umm Al Quwain Free Trade Zone began in 1986 as Ahmed Bin Rashid Port and Free Zone. It was established to complement the activities of the Ahmed Bin Rashid Port which has a long, rich history. From 2018, the Ahmed Bin Rashid Port has been operated by Hutchison Ports, one of the world’s leading port operators and is now known as the Hutchisons Ports UAQ.
Umm Al Quwain Free Trade Zone Benefits
Why Umm Al Quwain Free Trade Zone?
- A diverse range of consultancy and trading activities is offered.
- Shareholders do not need to be physically present in the UAE to establish a UAQ company.
- UAQ free zone companies provide limited liability protection.
- Enjoy 100% repatriation of capital and profits.
- Full foreign ownership is permitted.
- There are no corporate or personal income taxes.
- The company formation process is quick and efficient.
Popular Free Zones in Umm Al Quwain
Here, we highlight some of the most popular free zones in Umm Al Quwain. From healthcare and publishing to research and development and manufacturing, these free zones serve a diverse array of industry sectors.
Free Zones in Umm Al Quwain
Below we have discussed some of the most sought-after free zones in Umm Al Quwain. These jurisdictions cater to a wide array of industries that include aviation, F&B, oil and gas, information technology, etc. As mentioned earlier, free zones can be either industry-specific or general purpose.
3 Simple Steps
Just take the below steps to form a Umm Al Quwain Free Trade Zone company.
Business Setup Costs in Umm Al Quwain Free Trade Zone
The cost involved in forming a company is a significant concern for anyone looking to start a business. It is essential to recognize that several factors influence the costs of your venture. The first factor is the free zone you select; each of Umm Al Quwain Free Trade Zone zones has different pricing for trade licenses. Typically, these licenses are offered as part of packages that include visas. This leads us to the second factor: the number of visas you require, which is crucial to consider when determining your expenses.
The duration of your license also affects the overall setup costs. Additionally, if you lease office space, those leasing costs will contribute to your total expenses. The type of workspace you choose will also vary in price; for instance, a flexi-desk is generally less expensive than a private office.
Moreover, the license price largely depends on the type of business activities you select. In some free zones, the cost increases as you add more activities. Lastly, certain free trade zones may require a minimum paid-up capital from you.
License-Types Available at Umm Al Quwain Free Trade Zone
Free trade zones in Umm Al Quwain Free Trade Zone are known to offer a variety of license types. Typically, the license types depend on the specific industry that each free zone caters to. It’s also possible for two different free zones to have different names for similar types of licenses. Below, we have explained the most common types of licenses that can generally be opted for at most free zones in the Emirate.
License-Types Available at Umm Al Quwain Free Trade Zones
Here are the steps for free zone company registration in Umm Al Quwain Free Trade Zone:
1. Trade name reservation
As the first step in applying for a Umm Al Quwain Free Trade Zone license, you must reserve a trade name for your company. Every free zone authority has predetermined naming conventions that your company name must comply with.
- Memorandum of Association (MOA)
- Article of Association (AOA)
- Business license (for an existing company)
- Board Resolution
- Certificate of Incorporation
2. Signing and submission of the application form
You will sign the application form and submit it along with the following: Documents for individual shareholders
- Passport copy of the shareholder(s) and manager(s)
- Latest UAE entry stamp/visit visa copy
- Residence visa copy and Emirates ID of the shareholder(s) and manager(s) (for UAE residents)
- Address proof of the shareholder(s) and manager(s)
- Passport-sized photo of the shareholder(s) and manager(s)
Documents for corporate shareholders
Note: All documents for corporate shareholders must be attested by the UAE Ministry of Foreign Affairs (MOFA) as well as the UAE Embassy in the country of issuance. Also, additional documents other than those mentioned above may be required for both individual and corporate shareholders.
3. Issuance of trade license
Upon reviewing and approving your application, the free zone authorities will issue your trade license, and with this, your Dubai free zone registration process is complete. You may then proceed with the visa application process (if applicable).