Company formation in Umm Al Quwain - YB Case 2022
Registration period - 14, days
Multiple Free Trade Zones
Umm Al Quwain

Assistance with registering for and conducting business in Umm Al Quwain

Our address: Office 301 - 3d floor Indigo Icon Tower Cluster F - Jumeirah Lake Towers Dubai
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Features of jurisdiction

The United Arab Emirates consists of seven emirates. Umm Al Quwain is one of the developing and least-known of these cities. It is in close proximity to Dubai and Sharjah. Even though Umm Al Quwain is the least populous emirate and is in the development stage, this emirate does not prevent foreign investors and entrepreneurs from registering a company in the United Arab Emirates. The key to Umm Al Quwain's future success as an international business center lies in its expanding infrastructure and the emirate's government's investment-friendly stance.

  • Demanding business sectors

    IT, trade, manufacturing, and tourism are the most popular business sectors in Umm Al Quwain due to its internal politics and topography.

  • Possibility of registering remotely

    Remote company registration in Umm Al Quwain, United Arab Emirates is neither permitted nor possible.

  • Business taxes

    There is no corporate tax in Umm Al Quwain.

  • Regard for overseas investors

    The Emirate of Umm Al Quwain is open to foreign investment, making it a popular location for foreign entrepreneurs to establish a business in the UAE.

  • Banks

    Abu Dhabi Islamic Bank, Emirates NBD, Mashreq Bank, Noor Bank.

  • Legal system

    Similar to England and Singapore, Umm Al Quwain's legal system for corporate matters is based on English common law.

Procedures for registering a business in Umm Al Quwain

Umm Al Quwain company registration can take up to three weeks and involves the following steps:
  • First consultation
    Meeting with YB Case representatives in the office to clarify the client's details and requirements. In the emirate of Umm El Qaywain, the process of incorporating a company has begun (initial consultation is possible in a remote format.
  • Name reservation
    The future company's name must be unique and may not contain any restricted words. (Name reservation is viable).
  • Documentation and all preparatory procedures required for filing for registration
    After obtaining approval from the regulator to open a company in Umm Al Quwain, the charter and memorandum of the company are prepared and notarized, and the applicant signs all the required documents, which are then submitted to the local regulator (Department of Economic Development) for consideration).
  • Submission and receipt of a certificate of registration
    After receiving all required documents, the regulator evaluates the application and decides on the company's incorporation in Umm Al Quwain, United Arab Emirates. If the decision is favorable, the founders will receive an incorporation certificate.
  • Obtaining the proper permits for activities
    According to the results of a company's authorization in the Emirate of Umm Al Quwain, depending on the business activity, a special license is required.

Primary prerequisites

  • Minimum paid-up capital is 150,000 AED.

  • Аt least two shareholders (maximum 50).

  • Registered residential address.

  • There are no residency requirements for company Registration Agent company secretary directors.

  • Annual submission of financial statements.

  • Shareholders' annual meeting (possibly remotely).

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Company formation in Umm Al Quwain

Company formation in Umm Al Quwain

Umm Al Quwain is a region with a sustainable economy and an attractive investment climate, trying to make it a strategic base for international activities with the majority of East countries and European markets. As a result, registering a company in Umm Al Quwain has become a popular option for international investors. Umm Al Quwain’s primary startup industries are the service sector, IT technologies, tourism, and the manufacturing sector.

Principal Business Advantages of Umm Al Quwain

Principal advantages of registering a business in Umm Al Quwain UAE:

  • Location geographically advantageous
  • One of the most important commercial hubs in the nation.
  • The presence of business districts with favorable infrastructure, developed logistics facilities, and effective logistics services.
  • Different types of business licenses are available.
  • World-class quality services.
  • Procedure for obtaining a residence visa in Umm Al Quwain that is expedited.
  • State investment programs available.
  • Appropriate for small and medium-sized enterprises (SMEs), micro-enterprises, and multiple-enterprises.
  • 100% foreign ownership is permitted.
  • Lack of currency restrictions
  • Possible repatriation of all capital and profits.
  • Remote company registration in Umm Al Quwain is possible.

Umm Al Quwain is the ideal location for launching and operating a business in the following industries:

  • Gas and oil.
  • Construction.
  • Agriculture.
  • Umm El Qaiwain registration of an e-commerce company.
  • Tourism.
  • MASS MEDIA.
  • International commerce.

Company registration in Umm Al Quwain

Established a business in Umm Al Quwain in two locations: the mainland and the UAQ FZ.

Registration of a company in mainland Umm Al Quwain

This region of the emirate is attractive to investors due to its favorable economic climate, which encourages multinational corporations, start-ups, and small and medium-sized enterprises to open in UAQ. Positivities include profitable rental or leasing and expansion prospects. Locally and internationally, the UAQ mainland is fueling the rapid growth of construction and commerce. Additionally, UAQ Mainland permits the use of the following business structures: joint venture, public and private joint stock company, sole proprietorship, branch, and limited liability company.

Jurisdiction requires at least two and a max value of fifty collaborators for a company's incorporation on the mainland. When constructing a reputable business, the local partner will act as a service agent. The non-resident investor will then be the sole owner of the business. The local presence will hold 51 percent of the company's stock after the formation of a new type of corporation. On the mainland of the UAQ, foreign entrepreneurs are prohibited from engaging in banking and insurance.

Company registration in Umm Al Quwain Free Zone

UAQ FTZ has a beneficial economic outlook and is among the most important economic innovation centers in the UAE. The UAQ FTZ has become a hub for import-export investment due to the following benefits:

  • geographical location;
  • advanced logistics;
  • streamlined administrative procedures;
  • and adaptable law.

All of the aforementioned factors have a positive effect on international trade, promote economic growth, and entice foreign direct investment. These advantages, coupled with the low expense of opening a company in the Free Zone, position new entrepreneurs favorably.

Another of the main strengths of incorporating a firm in this jurisdiction is the simplicity and quickness of the registration system, which can be completed in as little as two weeks. The region has a low cost of life and a simple recruitment procedure. Entrepreneurs have the chance to enter the central region of East and North Africa's markets. The state is continually developing and implementing favorable conditions for businesses, including remote company registration.

Advantages of registering a business within the UAQ free zone:

  • comparatively faster speed to market compared to mainland companies;
  • the ability to integrate different industry forms.
  • three available permits;
  • no corporate tax;
  • complete array of business operations allowed;
  • possibility of 100 % foreign property;
  • absence of money barriers;
  • complete repatriation of profits;
  • absence of import/export taxes;

Beginning a Business in Umm Al Quwain: Legal Considerations on the Continent

Selecting the correct corporate structure is the early phase in creating a business. There are a number of primary legal entities:

  1. Non-resident investors are most interested in establishing a limited liability company (LLC). Each partner's liability is limited to his or her share capital in an LLC.
  2. Partner company – indicates at least two partners who are jointly and severally liable for the partnership's obligations.
  3. Joint venture – two or more partners having shared assets and liabilities.
  4. There are 2 kinds of joint-stock businesses: public and private. In a public partnership, the liability of the collaborators is restricted to the amount of their capital contribution. Minimum required capital is $2.7 million USD. The minimum number of founders required for a private company is three, whose liability is limited to their capital contributions.

Corporate forms of business for Umm Al Quwain FZ company registration

There are certain types of business entities in FZ:

  • Registration of a solitary stockholder LLC (FZE).
  • Organization of a company in a free zone (FZCO).
  • Registration of a subsidiary of a domestically or internationally company in UAQ FZ, provided that the firm has a least share capital of 82 thousand US dollars.

Umm Al Quwain's requirements for registering a company

Opening a business in FZ necessitates the availability of the following documents:

  1. Replicates of stockholders' and directors' passports.
  2. The board of directors' decision to establish a new firm in this emirate.
  3. Confirmation of a reservation with a respected firm.
  4. Business strategy
  5. Replicate of the rental contract.
  6. Authorized authority of legal representatives (if necessary).
  7. The UAE Embassy's Memorandum of Association is a certified document.

The firm should open a company account with a UAE financial institution, and it will be released a certificate of incorporation after passing the document verification process. Papers should be authenticated at the UAE Consulate and UAE Ministry of Foreign Affairs in the place of citizenship.

Registration Procedures with Umm Al Quwain

This is an emirate where new companies have the opportunity to establish a business and contribute to its growth. The primary stages of the company's formation are:

  • Optional business endeavor.
  • Execution of a lease agreement for office space.
  • Completing an application.
  • The registration fee is paid.
  • Requesting a license.
  • Subject to obtaining a visa, UAQ resident visa application.
  • The process of opening a bank account in the United Arab Emirates.

A license can be obtained in Umm Al Quwain

  1. Trading permit
  2. Industrial permits t
  3. Licensed Consulting Services
  4. Premium consulting license.
  5. Freelance license.
  6. Micro Business permit
  7. Service Permit

Accompanying an expert

Umm Al Quwain's business setup procedure can be completed remotely or online and does not necessitate physical presence. A team of seasoned YB Case experts is prepared to provide guidance and assistance throughout the Emirates incorporation process.

COMMONLY ASKED QUESTIONS
What documentation is necessary to register a business in Umm El Qaywain?

You will require the following documentation:

  • Details regarding shareholders and directors.
  • The board of directors' decision regarding registration.
  • Company name.
  • Business strategy
  • Certificate confirming the legal address's registration.
  • Memorandum and Constitution.
  • The local bank's confirmation of the deposit of capital.
Can an outsider register a business in Umm Al Quwain?
Yes, UAE law permits non-citizens to establish businesses in the country.
Registration deadlines for companies in Umm Al Quwain
Typically, the process of establishing a business takes several days. You can sign up for a consultation on registering a business in the UAE by contacting YB Case with any questions.