To everyone wanting to set up a business in the UAE, there’s a new kid on the block! We are talking about one of the low-key Emirates in the country, Umm Al Quwain. UAQ is ideal for conglomerates, SME’s and startups wanting to establish their business in the UAE as it offers attractive incentives for businesses and the environment for lucrative investments. So, do you want to open your company in Umm Al Quwain?
If you are still sceptical, continue reading our article to know many things of UAQ which are beneficial from the business point of view.
UAQ is a well-known and least populated country in the United Arab Emirates. It offers its businesses and entrepreneurs a wide range of benefits that differ slightly from others in the region. Having identified real estate, tourism and trade as industries with excellent growth potential, the economic planners of Umm Al Quwain have executed a rather ambitious expansion programme, aside from investing heavily in infrastructure development. They aim to integrate these components seamlessly to provide a unique development that bolsters the local economy and generates employment for thousands as well.
Now comes the procedure to start a business in UAQ. The UAQ Mainland and Free Zone have its laws and regulations, but, just like the other Emirates, the process is simple and straight-forward. The steps are –
How to Start a Business in UAQ Mainland?
- The first important step is to appoint a local sponsor. We at Commitbiz can help you in this procedure of appointing a reliable local sponsor
- The next step is to decide on the type of business structure you want to go ahead with starting a business in this Emirate. The different corporate entities are –
- Limited Liability Company
- Public Shareholding Company
- Branch Office
- Representative Office
- Professional Firm
- Next step is to decide and finalize the trade name for your UAQ business and submit the form to the Department of Economic Development UAQ
- The third step is to gather all the essential documents required. It includes –
- A valid copy of passport and national ID in case of shareholders if he is a UAE national
- A no-objection certificate, copy of passport, copy of visa or residence is required in case of ex-pat partners
- License form duly filled
- Branding certificate is required
- In case of technical assessment is required than a report must be submitted
- A Contract of partnership duly attested by a notary is required
- A Lease copy shall be obtained
- Legal affairs approval shall be obtained
- Property certificate if available
- Authenticated copy of the MOA and AOA of the company
- A copy of the feasibility study on the business venture is required
- Get initial approval from DED and additional approvals if required for the business activity
- The Sign the lease agreement and MOA in public notary
- For location and inspection approval or municipality shall be obtained
- After that, the licensing requirements shall be fulfilled
- The trade license shall be issued by paying the license fees
If you follow these simple steps, you can start your UAQ business in just a few days.
Benefits of Business Setup in UAQ Mainland
- It allows foreign ownership for Umm al Quwain mainland-based businesses
- There are opportunities to set up offices/branches anywhere in UAQ’s mainland
- Plenty of options for business activities are allowed in UAQ mainland
- UAQ mainland has an Investor-friendly climate
- There is an ease of conducting business and flexibility in UAQ
- Office space leasing options and warehouse is cost-effective
- There are excellent growth opportunities in UAQ mainland
So what are you waiting for? Grab this opportunity and set up your UAQ business today! We at Commitbiz can also assist you throughout the procedure so that you can concentrate on your business activity. Right from business incorporation to office space, we cover it all.
Contact us today for more information.