UAQ FTZ -Umm Al Quwain Free Zone
Umm Al Quwain Free Trade Zone was founded in 1987, but it became known to the public only after 2014 when it had undergone some restructuring and started marketing its services.
It is located in the smallest Emirate of the UAE but offers all the facilities that larger free zones are proposing.
There are various packages starting from zero visa companies, ending up with 1,2 or 3 visa options. Even if you start with zero visas package, it can be upgraded at any point in time. Packages can also be downgraded if you need to minimize the ongoing costs.
All packages come with a flexi-desk facility – a desk in a shared office, which serves as a minimum office requirement in the UAE.
Umm Al Quwain Free Zone offers offices and warehouses as well, which means it would suit any type of business.
The business activities list is quite broad. It has the following categories:
- General Trading
- Premium Consultancy
- Premium Commercial
Every license can have up to 3 commercial activities if they are not related or 10 related ones. The consultancy segment allows 2 business activities per license.
SETUP UMM AL QUWAIN FREE ZONE COMPANY
Company registration can be done without personal visit. However, the shareholders need to sign incorporation documents and ship original hard copies to UAE for the incorporation.
The owners need to provide certain personal documents for business setup, such as:
- Passport copy
- UAE entry stamp copy (for visa-eligible setups)
- Passport size photo (for visa-eligible setups)
- Recent utility bill as address proof
Once the documents reach Umm Al Quwain Free Zone authority, your company will be registered within 1-2 working days.
UAQ company renewal can also be done remotely just like the registration. You will need to make the payment and submit a new copy of flexi-desk lease agreement to the free zone.
Audit reports are not required.
Renewal is usually done within 2-3 days.
Upon renewal you will receive a new license and flexi-desk lease agreement.
Renewal costs are usually slightly less than the incorporation fees.
Possible amendments of the company include change of corporate name, business activity, shares transfer, change of manager/director, etc. Most of amendments can be processed remotely.
Shares transfer procedure would require either personal presence of the shareholders or a notarized Power of Attorney to a truster person, who can come on their behalf.
Company liquidation also requires either a personal presence of the owner or a visit of a PoA holder. You will need to return all original documents of the company to UAQ, make the payment and wait about 1 month for the procedure to be finished.
Government fee for liquidation is 2,000 AED, which is much lower than in the majority of other free zones.
To sum it up, UAQ is likely to suit almost any business activity. We recommend this Free Zone for those who need cheap and quick UAE business setup or residency and don’t care about the location.
An alternative solution for those who did not find suitable activity in Umm Al Quwain Free Zone could be Hamriyah Free Zone company registration.