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Registering a company in Umm Al Quwain in 2020
The main advantages of starting a business in Umm Al Quwain are:
- Strategically advantageous location;
- No corporate and personal income tax;
- No audit requirements;
- 100% foreign ownership is allowed;
- There are no customs duties on the import and export of goods;
- It is possible to rent office space.
Business registration – from €5,400
Company registration period – from 7 daysDetailed information
* The information about beneficiaries and directors in the UAE is closed, subject to a registration of the company in Free Zones!
The UAE is open to all options of international business. This country is of particular interest to foreign citizens, since all conditions are created here to register a business in the UAE. The extremely loyal tax laws of each emirate, as well as the so-called Free Zones (SEZs) allow you to open a company in the Emirates as an offshore.
The country's standard currency is the UAE Dirhams, pegged to the US dollar.
It should be noted, that it is not difficult to open a company in the Free Economic Zone of the Emirates, however, it should be remembered, that Free Zones are commercial institutions with management and requirements. FZ differ in the following parameters:
- an amount of the initial capital;
- a license renewal cost (every year);
- a number of registration documents;
- requirements for rental space.
A few words about the types of companies: you can register a company in Umm Al Quwain in one of several options. Types of firms in the Emirates:
- A Public Joint Stock Company;
- A Limited partnership;
- A Private Joint Stock Company;
- A Limited partnership;
The registration period is usually no more than a week. Lawyers of IQD Consulting note, that it is possible to register companies in Umm Al Quwain with complete confidentiality..
As for the benefits, a number of positive factors noted by IQD Consulting specialists can influence the decision to open a business in Umm Al Quwain. Among the advantages, that you get by deciding to register a company in Umm Al Quwain is the absence of strict accounting requirements. You will not need any accounts or audits. In this case, you will need to open a bank account in the UAE.
There is also no corporate or personal taxation, and you can open a company in Umm Al Quwain with 100% of foreign capital, and tax exemptions include full exemption from corporate taxes and taxes on personal income, as well as taxes on import/export.
Separately, it should be mentioned, that this Free Zone has licenses specially designed for needs of businessmen. The state fee for special licenses is as follows (in US dollars): for trade operations is 685 dollars, for general trading activities (wholesale, including products) is 2603, for consulting services is 3973, (including IT), and freelance is also 685 dollars.
IQD Consulting lawyers focus their potential clients on the fact, that if a company is registered in Umm Al Quwain, the owner receives a residence permit in the UAE.
Of the additional "bonuses" it is worth mentioning, that the Umm El Quwain Free Zone is located almost in the center of Dubai, not far from the airport. To be more precise, the FZ is located 6 km from Sharjah and 20 km from Dubai. The head office of the Umm Al Quwain Free Zone is located near Umm Al Quwain.
To register company in Umm Al Quwain Free Zone you can with the help of professional lawyers from IQD Consulting. We will also help you to open an account in Umm Al Quwain.
In the event, that you need a ready-made business in the UAE, we will help you to buy a turnkey company in the Emirates.
The information outlined in the article is actual at the time of its publication. Please refer to our specialists for checking possible solutions for your business.