Establishing a company in the Umm Al Quwain Free Zone provides many privileges and profitable business opportunities for businessmen and investors, due to the Emirate of Umm Al Quwain’s wonderful strategic location.

The most important characteristic of establishing a business in the free zones in Umm Al Quwain is that the regulatory authorities do not impose a minimum capital to establish your company, and allow many different licenses such as general trade, free licenses, service licenses, industrial licenses, and national industries.

Most companies in the free zones in Umm Al Quwain operate in the sector of exporting, importing and re-exporting goods. In order to be able to obtain quick procedures in a short time, you must seek the assistance of a business consultant who will complete the procedures you need to establish your company.

Farahat Consulting Office in the Middle East includes a large group of business consultants who are experts in business preparation and establishing companies in the free zone , who can help you with many services before establishing your company and after starting your commercial activity.

 

Establishing a company in the Umm Al Quwain Free Zone

Establishing a company in the Umm Al Quwain Free Zone is considered an important strategic step for investors seeking to benefit from the business opportunities and advantages offered by the free zone. Al Quwain Free Zone offers a distinct investment environment that attracts companies and investors from around the world, thanks to flexible legislation and legal and procedural flexibility that facilitates the process of establishing and operating companies efficiently. In addition, the free zone has a developed infrastructure that supports business and facilitates import and export operations.

Establishing a company in a free zone requires several steps, including determining the appropriate type of company, registering it, and obtaining the necessary licenses from the competent authorities. Investors must also study the local market and analyze the available investment opportunities to ensure the success of their work in the free zone. In addition, investors must adhere to the legislation and regulations of the free zone and adhere to ethical and professional standards in their field of business.

One of the positive aspects of establishing a company in the Umm Al Quwain Free Zone is obtaining financial benefits such as not imposing taxes on profits and not imposing duties on import and export, in addition to easy access to the Gulf and Middle East market. The free zone also provides a distinguished work environment that encourages innovation and economic growth, which contributes to achieving success and sustainability for emerging and medium-sized companies there.

How to establish a company in Umm Al Quwain Free Zone

Establishing a company in the Umm Al Quwain Free Zone requires following several steps and procedures, and here is an overview of how to achieve this:

1.  Determine the type of company: Before starting the incorporation process, you must determine the appropriate type of company, whether it is an individual company, a limited liability company, or a public or private joint-stock company.
2.  Choosing a name and activity: Choosing a name for the company that complies with local legislation and is available for registration, and specifying the activity of the company to be established.
3.  Applying for licenses: Submit an application to obtain the necessary licenses from the Free Zone Authority, including a company license, activity license, and work license.
4.  Submitting documents: Submitting the documents required for registration, which usually include a copy of the shareholders’ passport, a business plan for the company, and a no-objection certificate for foreigners if the company is partially or completely owned by foreigners.
5.  Financial payments: Payment of fees and financial expenses related to the establishment process and obtaining licenses.
6.  Signing and Certification: Signing official documents and certifying them by the competent authorities.
7.  Receiving the license: After completing the procedures, submitting the necessary documents, and paying the fees, the Free Zone Authority will issue the final licenses to establish the company.
8.  Registration in the Commercial Registry: After obtaining the final licenses, the company is registered in the Commercial Registry and receives a registration certificate.
9.  Starting work: After completing all procedures, the company can officially start work in the free zone.

Factors for reducing the cost of establishing a company in a free zone in Al Quwain

To reduce the cost of establishing a company in a free zone in Al Quwain, some factors can be followed that contribute to reducing costs. Here are some factors that can help:

• Choosing the appropriate location: Compare the available Hurriya areas in Al Quwain and choose those that provide low establishment costs while maintaining the infrastructure and services necessary for your company’s activity.
• Search for government facilities: Check government policies and facilities available to new businesses in the Al Quwain area, and take advantage of the tax exemptions, reduced fees, or financial support it can provide.
• Use appropriate legal structures: Choose a company legal structure that suits your needs and helps reduce costs, such as a limited liability company or small partnership.
• Negotiating with suppliers and partners: Try to negotiate the best deals with potential suppliers and partners to obtain price discounts or facilities and thus reduce costs.
• Use technology effectively: Adopting Internet-based technology solutions and accounting software to reduce administrative costs and increase efficiency.
• Avoid excess debt: Try to reduce debt as much as possible and avoid excess debt that increases the costs of establishing the company.
• Recruit employees with caution: Recruit labor carefully according to the company’s actual needs, and keep wage costs without unnecessary increases.

 

The cost of establishing a company in a free zone in Al Quwain

The cost of establishing a company in a free zone in Al Quwain is affected by several factors such as the type of company, the amount of capital required, and additional services that the company may need. However, estimates can be provided that include:

1. Company establishment fees: These include registration fees, licenses, and other administrative expenses imposed by the Free Zone Authority.
2. Legal Consultation Costs: You may need the services of a lawyer or legal consultant to assist you in preparing legal documents and handling legal proceedings.
3. Additional service fees: such as temporary office rental, tax consulting services, and accounting services.
4. Insurance costs: You may need to purchase directors’ liability insurance or other insurance depending on the type of company and its activity.
5. Real estate registration costs: If the company needs to register real estate or office lease contracts.

Competitive advantages of establishing companies in a free zone in Al Quwain

Establishing companies in a free zone in Al Quwain provides many competitive advantages that make it a preferred destination for investors, and these advantages include:

• Non-taxation: The free zone has a soft tax policy where corporate profits are not taxed for up to 50 years, which helps achieve tangible financial gains for companies.
• Easy access to the regional market: The free zone is located near major seaports and international airports, making it an important hub for global trade and facilitating access to the markets of the Middle East, Africa and Asia.
• Advanced Infrastructure: The Quwain Free Zone provides a modern and advanced infrastructure that includes warehousing, logistics and transportation facilities, which facilitates import and export operations and supports business growth.
• Facilitated bureaucratic procedures: The free zone provides simple and easy procedures for establishing and operating companies, including facilities for obtaining the necessary licenses, registering companies, and reductions in fees.
• Distinctive geographical situation: The Al Quwain region is located in a strategic location between the northern and central emirates, making it a center for trade and investment and providing distinct opportunities for growth and expansion.
• Economic Freedom: The Quwain Free Zone allows the benefit of complete economic and business freedom, allowing companies to achieve maximum success and innovation without unnecessary government interference.

In conclusion, it can be said that establishing a company in a free zone requires precise steps and specific legal procedures. Through cooperation with Itqan Company, individuals and entrepreneurs can facilitate this process and ensure the success of establishing their company in the free zone .

Itqan Company is distinguished by its experience and specialization in establishing companies in the free zone, and provides comprehensive support and financial and legal advice to clients. Whether you are planning to establish a commercial, industrial or service company, Itqan can guide you through every step of this complex process.

Frequently asked questions about establishing a company in the Umm Al Quwain Free Zone