Benefits of Setting Up Business in Umm Al Quwain Free Zone
Umm Al Quwain Free Zone is a very good choice for people who want to start a small scale business. You can form the company as FZE, FZC or Branch.
FZE means Free Zone Establishment which means single owner (1 person who owns 100 % shares of the company.)
FZC means Free Zone Company this is for 2 to 50 shareholders.
Branch means an existing company wants to start same line of business with same name.
Type of License available in UAQ FZ
- Normal Trading (can have 3 different product lines or 10 similar product lines)
- General Trading (this allows a wide range of products to be trade except Commodities which need special approval from multiple UAE authorities e.g. explosives and armaments cannot be traded with a General Trading license, automobiles, medicines, etc. cannot be traded)
- Service
- Consultancy (It allows two similar activities)
- Freelance permit
- E-Commerce
- Industrial license (This enables the licensee to import raw materials as well as manufacture / process / assemble / package the specified products and export it to various regions. It allows the holder to import raw materials for the purpose of manufacturing, processing and/or assembly of specified products.)
Benefits of Starting Business in UAQ Free Zone
- 0% corporate and personal tax
- 100% company ownership
- Full range of business activities permitted
- 100% repatriation of capital and profits
- No currency restrictions
- 100% import and export tax exemption within the free zone
- Simple and fast registration process with excellent customer support
They have business center in Dubai also.
They have flexi desk facility, office facility and warehouse. A co -working space 450 per month you can use 5 hours per week
- Services at 450/ month + 5 % VAT
- Dedicated Dubai telephone number
- Prestigious Dubai Address
- Professional Call answering Service
- P.O Box service
- Courier handling service
There are many different packages the cost as of 14th March 2020 depends on the number of visa eligibility. (These prices are subject to change)
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| Consultancy/ Commercial-1 Visa package | |
|---|---|
| License | 2500 |
| Reg Cost | 2000 |
| Flexi Desk | 9000 |
| Total | 13500 |
| Consultancy/ Commercial-2 Visa package | |
|---|---|
| License | 2500 |
| Reg Cost | 2000 |
| Flexi Desk | 16000 |
| Total | 20500 |
| General Trading – 3 Visa Package | |
|---|---|
| License | 9500 |
| Reg Cost | 2000 |
| Flexi Desk | 16000 |
| Total | 27500 |
| Flying Colour Service Charge | 3150 |
| Total Cost Including our Service Charge | 30650 |
| Visa Fee | |
|---|---|
| Investor Visa – 3 Years | 2500 |
| Employee Visa – 2 Years | 2200 |
| Medical and EID | 1200 |
| E-Channel Reg | 2400 |
| Status Change | 750 |
| Establishment Card | Included in Package |
This blog is written by Ms. Smita Thomas, Business Advisor at Flyingcolour Business Setup, VAT and Accounting Services, Dubai. If you have any query related to setting up a business in Umm Al Quwain Free Zone or anywhere across the UAE then feel free to call +971 4 4542366 today for a quality consultation or please send inquiry to info[at]flyingcolour[dot]com.
