Establishing a company in the Umm Al Quwain Free Zone

Establishing a company in the Umm Al Quwain Free Zone provides many privileges and lucrative job opportunities for businessmen and investors, due to the Emirate of Umm Al Quwain’s wonderful strategic location. The most important feature of establishing a business in the free zones in Umm Al Quwain is that the regulatory authorities do not impose a minimum capital requirement. Money to establish your company, and it allows many different licenses such as general trade, free licenses, service licenses, industrial licenses, and national industries. Most of the companies in the Umm Al Quwain free zones work in the sector of exporting, importing and re-exporting goods, and in order to be able to obtain quick procedures and in a short time, you must seek the help of a consultant. Business carries out the procedures you need to establish a company in the Umm Al Quwain Free Zone . Farahat Consulting Office in the Middle East includes a large group of business consultants who are experts in business preparation and company establishment, who can help you with many services before establishing your company and after starting your commercial activity.

Umm Al Quwain Free Zone

Umm Al Quwain Free Zone is one of the leading free zones in the UAE, which provides an ideal environment for business thanks to its competitive advantages. It is located in the north of the Emirates, and is considered a strategic starting point for global trade thanks to its strategic location. Umm Al Quwain Free Zone offers a variety of services and facilities that include providing office and commercial land, facilitating company registration procedures, and providing logistical and commercial support. The free zone allows foreigners to establish companies with 100% ownership without the need for a local partner, which enhances its attractiveness to international investors. It is also characterized by providing advanced infrastructure and flexible administrative services, making it an attractive option for companies seeking to achieve sustainable growth and expand their business in the region.

Establishing companies in the free zones in Umm Al Quwain

Establishing companies in Umm Al Quwain free zones is a popular and exciting process for investors who want to exploit business opportunities in the emirate. Free zones in Umm Al Quwain have advantages and privileges that make them an ideal destination for establishing companies and encouraging investment. Here are simplified steps for establishing a company in a free zone in Umm Al Quwain:

• Research and Planning: Conduct the necessary research to identify the appropriate free zone in Umm Al Quwain that matches your needs and business interests. Check out the services, benefits and facilities offered by different free zones and compare them.
• Choose the legal type: Select the legal type of company you wish to establish. Available options can include limited companies, joint stock companies, sole proprietorships, and others.
• Submitting a registration application: Submit a registration application to the competent authorities in the selected free zone. The required documents and necessary information must be submitted, such as completed forms, personal documents of shareholders and directors, company contracts, business plan, etc.
• Obtaining licenses: After submitting the registration application, the relevant authorities will review and evaluate the documents and information provided. If the application is approved, you will obtain the necessary company licenses such as business license and business license.
• Company incorporation and legal registration: After obtaining licenses, the company must be officially established and registered. You may need to visit the competent authorities to submit the final documents and carry out the necessary procedures to establish the company.
• Starting a Business: After the company is officially established and registered, you can start doing business in the Umm Al Quwain Free Zone. Rent suitable offices or commercial spaces, equip them and start operating the company according to your business plan.

Reasons for establishing a company in Umm Al Quwain

Establishing a company in the Umm Al Quwain Free Zone can be an important strategic decision for many reasons, including:

1. Flexible Business Environment: Umm Al Quwain provides a flexible and friendly business environment for investors and entrepreneurs, making it an attractive place to establish companies.
2. Low establishment costs: The costs of establishing companies in Umm Al Quwain may be much lower compared to other emirates, making it an ideal choice for businessmen looking for affordable investment opportunities.
3. Strategic Location: Umm Al Quwain is located in a strategic location on the coast of the Arabian Gulf, providing easy access to regional and international markets.
4. Advanced Infrastructure: Umm Al Quwain offers advanced infrastructure that supports business and investments, including logistics facilities, ports and airports.
5. Flexible Laws: Umm Al Quwain adopts flexible and modern commercial laws and legislation aimed at encouraging investment and facilitating company establishment procedures.
6. Government incentives: The Umm Al Quwain government offers packages of incentives and facilities to investors who are considering establishing companies, which helps promote economic growth and strengthen the private sector.

Steps to establish a company in Umm Al Quwain Free Zone

Establishing a company in the Umm Al Quwain Free Zone requires following a series of legal and administrative steps. Below is an overview of the main steps:

1. Market study and strategic planning: Before starting the company establishment process, a careful market study must be conducted to understand the competitive environment and identify potential opportunities and challenges. A detailed investment and operational plan for the company must also be drawn up.
2. Choosing the type of company: The appropriate legal structure for the company must be chosen, whether it is a sole proprietorship, a joint stock company, or a limited liability company, based on the business needs and future goals.
3. Determine the company name: You must choose a unique and distinctive name for the company and ensure its availability and compliance with local laws.
4. Preparing legal documents: Establishing a company requires preparing and submitting a set of legal documents, such as contracts and agreements necessary for registration.
5. Submitting the application: The company registration application must be submitted to the competent authorities in the Umm Al Quwain Free Zone, along with submitting all required documents and paying the prescribed fees.
6. Obtaining licenses and permits: After approval of the registration application, the necessary licenses and permits are obtained to start working in the company.
7. Opening a bank account: The company must open a local bank account in Umm Al Quwain to manage financial operations and financial transactions.
8. Employee Insurance: If a company intends to hire employees, the company must insure and register them in accordance with local laws.
9. Join a Chamber of Commerce: It is recommended to join your local chamber of commerce to enjoy support, business services and social networking.
10. Starting Business: After completing all legal and administrative procedures, the company can start conducting business and implementing its business strategy.

Advantages of establishing a company in Umm Al Quwain

Establishing a company in the Umm Al Quwain Free Zone in one of the free zones provides many advantages and privileges that make it an ideal destination for business. Here are some key advantages:

• Low fees and taxes: Umm Al Quwain and its free zones are considered low-tax business places. Companies in free zones are usually exempt from income taxes, profits taxes, customs taxes, and customs duties.
• Ease of registration and establishment: The company registration system in Umm Al Quwain is characterized by simplicity and effectiveness. New companies can enjoy fast and easy procedures for establishing a company and obtaining the necessary licenses.
• Full shareholding ownership: The Umm Al Quwain system allows companies in free zones to own 100% shareholding for foreign investors. Therefore, foreign companies can benefit from complete control over the business and profits.
• Freedom to transfer currencies: The free currency system in Umm Al Quwain allows the transfer of money and currencies freely and easily without any restrictions. This allows companies to carry out international financial operations with ease.
• Advanced infrastructure: Umm Al Quwain has a modern and advanced infrastructure that supports businesses. Free zones provide a full range of basic facilities and services such as modern offices, warehouses, logistics areas, e-commerce and advanced communications.
• Easy access to the regional market: Umm Al Quwain is located on the coast of the Arabian Gulf and enjoys a distinguished strategic location. Companies in free zones can easily access Gulf and Middle Eastern markets, providing opportunities for growth and expansion.

Costs of establishing a company in the Umm Al Quwain Free Zone

The costs of establishing a company in the Umm Al Quwain Free Zone may vary based on several factors, including the type of company, the size of the planned business, the services required, and legal and administrative requirements. However, estimates can be provided that include the following points:

1. Registration and license fees: These fees include company registration fees, business licenses, and legal and administrative services fees. This fee is determined based on the type of company and planned activities.
2. Rental fees: Companies must pay rental fees for their offices or commercial spaces that they rent within the free zone.
3. Consulting and accounting costs: The process of establishing a company may require legal or accounting consultations, which may incur additional costs.
4. Government Services Fees: These fees include government transaction fees such as attestation and attestation fees, stamp fees, and visa fees if required.
5. Labor costs: If a company intends to hire employees, it may incur costs for their salaries and health and social insurance.
6. Marketing and promotion costs: These costs can include brand design, website creation, and marketing and advertising campaigns.
7. Banking and Financial Services Fees: There may be fees associated with opening a company bank account and providing banking services.

Documents for establishing a company in the Umm Al Quwain Free Zone

The costs of establishing a company in the Umm Al Quwain Free Zone may vary based on several factors, including the type of company, its size, and additional services you may need. However, an approximate model of the costs that can typically be expected to establish a company in the Umm Al Quwain Free Zone can be provided:

• Registration and licensing fees: These include fees paid to the competent authorities in the free zone to register the company and obtain the necessary licenses. These fees may range from several thousand UAE dirhams.
• Legal Consultation Fees: The consultation of a lawyer or legal advisor may be required to assist you in preparing legal documents and ensuring compliance with local laws and legislation. The cost of legal advice varies depending on the advisor and the scope of services provided.
• Administrative services fees: These fees can include administrative costs such as opening a bank account or renting an office or work space in the free zone.
• Insurance and registration fees: Some companies may require insurance or registration fees to comply with local legislation.
• Labor Costs: If a company intends to hire employees, payroll, fringe benefits, and Social Security costs must be accounted for.
• Advertising and Marketing Costs: A company may need to invest in advertising and marketing to promote its services and increase brand awareness.
• Costs of additional consulting services: The company may require additional consulting services such as financial, marketing, or management consulting.

Licenses in Umm Al Quwain Free Zone

1. Commercial license: There are two types of licenses in the commercial license: ( general commercial license and commercial licence). The general commercial license allows flexibility and freedom to trade in permitted goods within the country, while the commercial license allows the import, export, distribution and storage of goods.
2. Industrial licence: In this license, it is possible to import, manufacture or assemble any commodity related to the activity specified in the licence, then export the final product. It also allows the import of raw materials required for the industry specified in the activity.
3. Service licence: This license allows you to practice any activity related to providing services, such as tourism services and courier services.
4. Consulting License: This license allows the provision of professional consulting services.
5. Self-employment license: This permit allows freelance work, for example, as a freelance journalist, and the future can carry out his work under his personal name and without the name of a company or trademark. This permit is allocated to workers in the media, technology, and film industry, and is issued to workers in creative jobs.

Our company’s role in establishing a company in the Umm Al Quwain Free Zone

In conclusion, by benefiting from cooperation with Itqan Company, you can establish a successful company in the Umm Al Quwain Free Zone. The free zone is a gateway to investments and business opportunities in the United Arab Emirates, and it enjoys a developed commercial environment and stimulating investment climate.

Using Etqan Company’s expertise, you can benefit from professional support and advice in many areas related to establishing and managing the company. Itqan will provide you with guidance and assistance with legal and regulatory procedures, including arrangements for licensing, registration and required documents.

In addition, Itqan will assist you in analyzing the market and exploring business opportunities available in the free zone. It will provide you with the economic and business information necessary to make sound strategic decisions and achieve expansion and success.

Using the available resources, you will be able to benefit from the free zone’s advanced infrastructure, including logistics facilities and integrated industrial zones. You will enjoy the availability of skilled and educated workers and modern technology, which will help you achieve productivity and efficiency at work.

In short, cooperation with Itqan Company will enable you to take advantage of the opportunities available in the Umm Al Quwain Free Zone and achieve sustainable success in your business. Itqan will help you face the challenges and benefit from the advantages available in the local and global market.

Frequently asked questions about establishing a company in the free zone: