Company Formation in Umm Al Quwain Free Trade Zone (UAQ FTZ)
The Umm Al Quwain Free Trade Zone (UAQ FTZ) is a fast-growing business hub in the UAE, conveniently located just minutes away from Dubai. It provides permits for numerous sectors such as business, basic industries, and also consultancy. Low setup costs, a tax-friendly environment, and access to global markets are advantages for investors. UAQ FTZ also offers tailored office spaces, warehouses, and land for industry with flexible leases. A state with investor-friendly policies, infrastructure, and facilities suitable for businesses of any scale and across the globe.
Key Benefits of Setting Up in UAQ FTZ
These are the benefits of setting up from Umm Al Quwain Free Trade Zone (UAQ FTZ):
- Full-owned business by foreigners.
- Elimination of business and personal taxation
- Free remittance of profits and capital.
- No import/export tax exemption and currency restriction
- An easy and fast business formation process
UAQ FTZ offers an affordable option for companies seeking a flexible and investor-friendly ecosystem.
Documents Needed for Business Setup in UAQ FTZ
To establish a business in UAQ FTZ, you will require:
- A compilation of suggested business names (arranged by priority).
- A passport copy that is scanned in color and easy to read.
- Evidence of residency, like a utility bill or a UAE entry stamp/residence visa, is required.
- Documents for incorporation have been signed.
- These papers guarantee a seamless registration procedure
Types of Business Licenses Available
- Commercial: Their Commercial License is the legal requirement for businesses to trade any type of product or perform commercial activities as defined and listed on the license. This allows importing, exporting, and trading within the UAE, including working with mainland distributors. Being a flexible license is perfect for any company seeking to operate and expand its trade network effectively.
- Industrial: An industrial license enables entities to carry out operations like manufacture, processing, assembling, and packing of scheduled commodities. It also empowers the exportation of manufactured commodities. This license is, therefore, critical for those companies seeking to set up their industries in industrial estates, which, owing to invested reformation policies and the availability of an educated labor force, welcome investments.
- Freelance Permit: A Freelance License permits independent work under one's name without any need for a registered company or brand. So, it gives creative freedom, flexible working hours, and also location independence. The license is best suitable for professionals who have in-demand skills and seek career growth and autonomy.
- Consultancy/Service License: A Consultancy/Service License is a type of business license that confirms the authenticity of a consulting business. Having credibility is crucial for gaining new clients, especially at the beginning. The license guarantees clients that the company is formally acknowledged and follows legal requirements, fostering confidence and creating a reputable image in the industry.
Steps for Company Formation in UAQ FTZ
- Select Business Entity: Choose your preferred business structure. Entities available in UAQ FTZ are:
- Freezone Establishment(FZE)
- Free zone Company
- Branch of a Foreign or Local Company
- Choose License: Pick the appropriate license for your business activities.
- Choose Your Business: Decide on the type of business and services/products.
- Choose Your Facility: Select a suitable facility like an office, land, shared office, or warehouse.
- Register with Required Documents: Submit the necessary documents for registration
Choose Reyson Badger for your Company Formation in UAQ FTZ
Select Reyson Badger to assist with your company establishment in UAQ FTZ for professional support and a smooth process. Having extensive experience and a deep understanding of the business environment in the UAE, Reyson Badger is committed to ensuring a seamless and effective process as you go through each stage, from choosing the appropriate business structure to obtaining the required permits and infrastructure. Have faith in Reyson Badger for a smooth and expert process in setting up your business in the UAE.
