Umm Al Quwain free zone or UAQ free zone is one of the newest free zones in UAE. With its modern management and flexible licensing solutions, it has already gained huge popularity among foreign investors. This free zone has a lot of unique benefits which are not available anywhere else. Combined with low cost of business setup, they make Umm Al Quwain free zone one of the most attractive free zones among new entrepreneurs.
UAQ free zone benefits are:
- Personal presence is not required
You can form your company even being abroad. All you need to do is to sign your incorporation documents and currier them to your Agent, who will finish the registration by UAQ authority on your behalf.
- UAQ free zone offers very cost efficient licenses
Prices for licenses start from 13 500 AED if you are applying for so-called “Micro Business”, which is not eligible for visas. If you need resident visas, the cost of the company will be 20 500 AED only. It makes you eligible for 2 resident visas – this indeed is the best offer in UAE market today!
- Large number of business activities for premium segments such as “Legal Consultancy”, “Real Estate Consultancy”, “Travel Consultancy”, “Financial Consultancy”, “Oil and Gas Consultancy” and others. UAQ free zone does not require additional approvals from other UAE authorities to setup such company.
- UAQ free zone does not require NOC if you are employed by another company
You do not need to provide NOC (No Objection Certificate) from your current sponsor if you want to setup your own business and be employed by another company.
- Fast-track processes of company formation and getting residency
UAQ license is usually issued within 2-3 business days, establishment cards and visas are also released faster than in similar free zones.
Umm Al Quwain became highly competitive with these advantages, even though it’s quite new.
UAQ free zone has some disadvantages too, which include obligatory and often lengthy security approval process for the following nationals: Syria, Egypt, Algeria, Tunisia, Bangladesh, Libya, Yemen. There is no guarantee that the citizens of these countries will be approved at all. Unfortunately, this is a common problem in UAE today, regardless of the free zone.
Umm Al Quwain free zone needs the following set of documents for your company setup include:
- 3 options of company name
- passport copy
- residential address and phone number
- utility bill as proof of address
- passport-size photo (in case you are applying for visa-eligible company)
- copy of entry stamp to UAE (in case you are applying for visa-eligible company)
In a nutshell, if you are searching a cost-efficient and fast way to open your business in UAE, then Umm Al Quwain free zone is definitely worth taking a closer look at.