Umm Al Quwain is one of the seven emirates that compose the UAE and, by itself, also has a very good location regarding doing business within the Middle East market and with the rest of the world. In addition to that nice environment, the Umm Al Quwain Free Trade Zone allows for many kinds of activities for entrepreneurs and investors setting up businesses. Therefore, in this article we will discuss business activities allowed in UAQ FTZ and delineate the process of registering a company in UAE and setup of a business.
Business Activities Allowed in UAQ FTZ
Various business activities can be carried out in the UAQ FTZ, such as
- Trading: Import, Export, and Re-Export of Goods
- Manufacturing: All industries related to food processing, packaging, assembling, etc.
- Services: Consultancy, IT, Marketing, Logistics, etc.
- E-commerce: Any online trading and digital services.
- Real Estate: Property development and management
- Financial Services: Banking, insurance, and investment activities
- Tourism: Hotels, travel agencies, and tour operators
- Education: Establishing schools, universities, and training institutes
- Health: Establishing private hospitals, clinics, and medical centers
Advantages of Forming a Business in UAQ FTZ
- 100% foreign ownership
- Zero corporate tax
- No personal income tax
- No customs duty
- World-class infrastructure
- Easy, hassle-free registration procedures
UAE Company Registration and Business Setup in Umm Al Quwain
The steps to establish a business in UAQ FTZ are outlined below
- Business activity: A person can select any of the above-mentioned activities, which are permitted
- Company name: Company name should be in accordance with UAE naming conventions
- Get Initial approval: UAQ FTZ Authority
- Company registration: Documents to be submitted – copies of passport, proof for address and business plan
- Obtain license: Depending on one’s business activity
- Open a bank account: With any bank in UAE
- Obtain registration of visa: Of employees and dependants, if any
Conclusion
Umm Al Quwain UAE Free Trade Zone offers excellent business boom terrains, with a diverse category of permitted activities and a simplified process of registration. Clearly understanding the kinds of activities permitted and the procedures for company registration and setup are sure to unlock the full potential of the UAE market, among others across the world, for entrepreneurs and investors.
Moreover, If you want any other guidance relating to business setup in Dubai, please feel free to talk to our business advisors at 8881-069-069.
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