By One of the newest UAE free zones is the Umm Al Quwain free zone (also known as the UAQ free zone). Foreign investors love this free zone for two key reasons: flexible licensing results and contemporary management.
There are all kinds of benefits within the free zone – benefits you won’t get in any other location. And, add these benefits to the inexpensive way of setting up a business, and it’s no wonder many novice entrepreneurs look toward the Umm Al Quwain free zone to begin their venture.
5 Advantages To Setting Up A Business In The UAQ Free Zone
1 – You Don’t Need To Be Personally Present
If you’re unable to begin your business in person, you can still create it. All that’s needed is to sign the incorporation documents and send them to the agent. This agent will work on your behalf, finishing the UAQ registration.
2 – Affordable Licenses
License prices begin around 13,500 AED should you apply for a Micro Business. However, it’s not qualified for visas. If a resident visa is needed, the company cost is 20, 500 AED. This will ensure you get two resident visas
3 – Don’t Need An NOC If You’re Working For Another Business
There’s no reason to get a No Objection Certificate from your present sponsor if you’re working for a company but in the process of setting yours up.
4 – Can Quickly Form Company and Establish Citizenship
The UAQ license is done in a matter of days – no more than three days typically. You’ll also get your visas and establishment cards in a short period of time.
5 – Large Array Of Company Activities For First-Rate Sections
This will include Real Estate Consultancy, Legal Consultancy, Financial Consultancy, Travel Consultancy, Oil and Gas Consultancy, etc. UAQ free zone doesn’t demand supplementary agreements from other UAE authorities to create a company of this type.
These reasons are why the Umm Al Quwain has become extremely competitive.
Now, that’s not to say there isn’t some disadvantages such as a compulsory and long security approval process with the following countries:
- Algeria
- Bangladesh
- Egypt
- Libya
- Syria
- Tunisia
- Yemen
- Keep in mind that not all citizens from these locations are going to be approved.
What Documents Will The Umm Al Quwain Free Zone Need?
In order to set up your company, there are a number of documents the Umm Al Quwain Free Zone needs from you:
- Three potential names for your company
- Copy of passport
- Utility bill to prove address
- Passport-size picture (if applying for a visa-eligible business)
- Phone number
- Home address
- Copy of entry stamp (if applying for a visa-eligible business)
