Umm al Qaiwain shortly referred to as (UAQ) is that the least populated state of the UAE; and its acreage is that the second smallest among the state of the UAE. It represents just one of all of the UAE. Umm Al Quwain is place between Ras Al Khaimah and Ajman on the West Coast. Umm Al Quwain features a coastline stretching to 24kms. As an emerging state expat are disparately trying to find Umm Al Quwain company formation. Umm Al Quwain isn’t as active with business as Dubai, Abu Dhabi or Sharjah; the most business which expat are looking once they are going for business setup UAQ is trading; land and tourism. But now each day Umm Al Quwain company formation is additionally something which is extremely popular within the region.
Umm Al Quwain company formation
There are two main areas where we will setup business in UAQ. One is mainland area and therefore the other is free trade zone of UAQ. For mainland company formation in UAQ we would like an emirate sponsor or an emirate service agent. While in Umm Al Quwain free trade zone expat can hold 100% share of his business.
Umm Al Quwain Mainland company formation
Company formation in UAQ Mainland requires a minimum of 2 partners and maximum of fifty partners. At now let me tell you one thing; otherwise you can say one basic point about Umm Al Quwain company formation. You would like to stay in mind. That is Umm Al Quwain company formation needs a minimum of one local partner. If you’re getting to setup professional business; then local partner will act as a service agent. During this case expat will hold 100% share of the business. But if you’re getting to open a billboard business then local will hold 51% share of the business. And an expat partner will hold maximum of 49% of share in UAQ business setup. In UAQ mainland an expat can keep it up any sort of business except; that’s banking, an investment also as insurance.
Legal type of Company formation in Umm Al Quwain Mainland
Following are the most form utilized in Company formation in UAQ
LLC Company: this type of a company formation in Umm Al Quwain a minimum of two; and also a maximum of fifty partner are require to setup. Every partner is liable only to the extent of their shares within the capital.
A partnership: during this sort of a Umm Al Quwain company formation; 2 or more partners are jointly liable altogether their money within the company’s obligations.
Joint venture: this sort of a company formation in Umm Al Quwain; is compose of two or more partners for the aim of sharing profit and loss; and therefore the company is restricted to the connection between the partners does not apply to others.
Limited Partnership: during this sort of a UAQ business setup; partner or more susceptible to his money also as partner money; And shall not be liable within the company’s obligations only to the extent of its share capital.
Public joint stock company: in this sort of a Umm Al Quwain company formation; the capital is dived into shares of equal value. The partner is merely susceptible to the extent its contribution to the entire money; the capital share for such a business is a minimum of 10 million dirhams. IT offers shares for public subscription with the approval of the founders.
Private joint stock Company: during this sort of a Umm Al Quwain company formation; required a minimum of 3 founding people; and people subscribed by the founding capital fully; and are responsible to the extent of their shares within the capital.
Company formation in Umm Al Quwain free zone
It is located in the emirate of Umm al Quwain; Umm Al Quwain free trade Zone (UAQ FTZ) is claimed to be friendly; progressive and prosperous, with a modern infrastructure and pro-business environment. Umm Al Quwain company formation is right for micro businesses and SMEs. The free trade zone start its operations from 2014; and is backed by the autonomous arm of Umm Al Quwain emirate within the UAE; which is permitted to include business with a trade license. With its modern management and versatile licensing solutions; it’s already gained huge popularity among foreign investors. This free trade zone features a lot of unique benefits which aren’t available anywhere else. Combined with the low cost of business setup; they create Umm Al Quwain free trade zone one among the foremost attractive free zones among new entrepreneurs. Here are the advantages of company formation in Umm Al Quwain.
Fast and easy Setup process of company formation in UAQ free zone
One of the main benefits of company formation in UAQ free zone is that; the speed and ease at which you can go from the dream to the destination. The process of company formation in UAQ free zone takes just 1 to 2 weeks.
Strategic Location of UAQ free zone
The biggest USP of UAQ free trade zone is its geographically strategic location. The region benefits from the low cost of living as well as labor. It’s also perfectly placed to try to business with the billions of potential customers; across the center East and North Africa (MENA) region; subcontinent, and therefore the Far East and European markets. It is within the reach of the UAE’s main seaport, Dubai Airport, and Sharjah Airport.
UAQ free zone company formation is great for small Investor
The free trade zone offers an incredible advantage to SMEs and solo entrepreneurs with small a budget. It also is back by the govt by bringing various incentives; to the tiny and medium enterprise has made this free trade zone successful among the entrepreneurs.
Umm Al Quwain free trade zone licensing fee begin around 13,500. If one wants to line up a micro business; then they ought to apply for the license which may be acquired at this price. However, you will not get any visa in this. If you need a resident visa; then the setup cost will be 20,500; and you will you get two resident visas.
Personal Presence Not need for UAQ free zone company formation
One can form a corporation even when abroad. All they have need to sign the documents and courier them to us; we will finish the registration by UAQ authority on your behalf.
A wide range of License Options for Umm Al Quwain company formation
Another attractive point for investors is that the wide range of option for Umm Al Quwain free trade zone license. You will get commercial, industrial, consultancy, service, freelance and micro business license within the free trade zone.
Benefit of company formation in UAQ free zone
- 0% corporate and private tax
- Full range of business activities permitted
- 100% company ownership
- No currency restrictions for UAQ free zone company formation
- 100% repatriation of capital and profits
- 100% import and export tax exemption within the free trade zone
- Hi-tech facilities including office, warehouse, and land availability
- No restrictions on hiring foreign employees
- Modern as well as investor friendly rules and regulations
- Cost-effective leasing options available for office and warehouse
And this is often not all. Since Umm al quwain free zone issues license at a lower cost; that is as compare to other free trade zone; It does not need you to be present within the free zone. You also do not need to provide a No-Objection Certificate (NOC) from the present sponsor; if one wishes to start a side business along with your current job.
Even though this free trade zone is sort of new; but still it become very competitive thanks to these set of benefits. If you are trying to find a cost efficient and fast processing to open your business in UAE; then Umm Al Quwain free trade zone is certainly worth taking a better check out. Additionally, if you want to setup company in Umm Al Quwain free trade zone; then taking an advise from our consultant will be very handy. If you are trying to find a business consultant, we have advisers who can assist you through the whole process. If you would like to avail this service; then do contact us.