Umm Al Quwain is the least populated emirate in the UAE but can be ideal for a company setup as the authorities are trying to incentivize the growth of the trade and industry in the region by offering several benefits to businesses located here. It is also the second smallest in terms of area.
The UAQ is located by the Persian Gulf, which is a body of water near it. It is an emirate that consists mainly of a coastal city for which Umm Al Quwain is named, and an inland oasis town which is known as Falaj Al Mualla. The main economy of the region also consists of fisheries and tourism
Mainland company formation in UAQ has a lot of benefits. As the local authorities are providing a lot of incentives to bolster the emirate’s economy. Business conglomerates, SMEs, micro-businesses, and startups can benefit from these incentives to gain a competitive advantage for their business. Investors will also find many lucrative investment opportunities in UAQ. Business formation in both UAQ free zone and the UAQ mainland has its advantages.
If you are looking for a company formation in UAQ mainland, our professional consultants can help you get started. Our expert business setup consultants have completed the registration process for UAQ mainland company formation countless times. As a result, they have the necessary experience to set up a new company without any hassle so Text us on WhatsApp or call us today today to take the first step in setting up your business in Umm Al Quwain
Here are the steps required for the formation of a new company in Umm Al Quwain mainland:
First of all, you need to decide on the business activities you mean to perform in UAQ mainland. You need to check two things when deciding on the business activities. You need to check if the business activity is legal in Umm Al Quwain or not. After that, you need to research if those business activities are profitable in the market. The Company Setup consultants can help you to determine these.
You need to choose a legal form for your business that is allowed in Umm Al Quwain mainland. The allowed legal forms are businesses in the Umm Al Quwain mainland are Branch Office, Representative Office, Limited Liability Company, Public Shareholding Company, and Professional Firm. Choose the legal form for your business carefully because it will affect what rules and regulations your business is subjected to later into the lifetime of your business.
You need to select a trading name for your business that is not already registered general journal of the country. The name cannot be available in UAQ and the rest of the UAE. It may be used in other parts of the world but as long as it is not already trademarked in the UAE, you can use it.
Based on the business activities you choose; you need to apply for the respective trade license that facilitates those activities. There are three types of trade licenses currently allowed in Umm Al Quwain mainland.
After you have decided all the previous factors, you need to apply for initial approval from the Department of Economic in Umm Al Quwain. You need to fill up a form with the required information and provide some documents, which we will address in detail later on.
Depending on the business activities you are looking to perform, you need some special approvals from external agencies and government bodies
You need to draft a Memorandum of Association for your company. This is an important document that needs to be drafted carefully. If you are not confident then it is best to leave it in the hands of experienced consultants who have drafted MOAs before
You need to get an office space before completing the registration process. This is mandatory because the lease agreement is a required document without which the Department of Economic Development in Umm Al Quwain will reject your registration.
Tailoring Compliance Services To Match The Specific Needs Of Businesses.
It takes around 5 to 6 days to establish a business in Umm Al Quwain
50 is the maximum number of shareholders that a company can have in Umm Al Quwain
The investor Visa can be extended for up to 3 years.
The minimum share capital required to start a subsidiary company in the UAQ is approximately 300,000 AED.
There are several advantages of setting up a business in UAQ. Some of them include
A single general trading license can be used to trade up to ten products. Certain goods are not included in this as they need specific permission.
You can use the AOA that was issued in your nation of origin in UAQ. However, it needs to be verified in the UAE as well as the nation of origin.
The major benefits of setting up a company in UAQ Mainland are:
- No currency restrictions
- Limitless visa
- Affordable setting up
- Supportive regime
- Option to bid for government contract
- No minimum capital requirement
No, you are only permitted to own 49% of the company's shares in UAQ Mainland. Naturally, establishing a business in the UAQ Free Zone entitles you to 100% ownership.
The process involves submitting required documents, obtaining approvals, and fulfilling legal requirements. It’s advisable to consult with a business setup expert such as Unicorn Global solutions for efficient business setup services by our qualified team of experts. Send us a quote now!
Yes, you can use a single General Trading License to conduct several trading activities in UAQ
Hotels, parks, tourism, fishing, trading, and manufacturing are Umm Al Quwain's main industries.