Business Set Up in Umm Al Quwain Mainland

Umm Al Quwain is one of the least populated emirates in the UAE. It is booming to be one of the most prominent business destinations in the country. Business setup in Umm Al Quwain mainland can be your path to riches. The visionary political leadership in the emirate has formulated exclusive investor-friendly policies to promote investment. Kiltons business setup services will aid you in company formation in UAQ mainland

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FAQ's

Frequently asked questions on Business SetUp in Umm Al Quwain Mainland

  • How many items can I trade in general trading license in UAQ?
    • You can trade up to ten items under a single general trading license. This excludes some items, which require special approval.
  • I have a Freelance visa. Can I sponsor my family?
    • Yes, you can sponsor your family. However, you need to deposit some amount as security for the same.
  • I have an Article of Association prepared in my home country. Can I use it in Umm Al Quwain, for company formation?
    • You can use the AOA prepared in your home country in UAQ. Nonetheless, it has to be attested both in the country of origin and UAE.
  • I am an ex-pat. Can I start a business in UAQ Mainland in 100% ownership?
    • No, you can hold only 49% of shares in the company in UAQ Mainland. Of course, you can form a company in the UAQ Free Zone in 100% ownership.
  • What are the benefits of setting up a company in UAQ Mainland?
    • The major benefits of setting up a company in UAQ Mainland are:

      - No currency restrictions

      - Limitless visa

      - Affordable setting up

      - Supportive regime

      - Option to bid for government contract

      - No minimum capital requirement

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Procedure for Company formation in UAQ mainland

The procedure for company formation is similar in almost all the emirates in the UAE. The process, the additional approvals required and charges will depend on the type of business activity you plan to undertake and the license you need. You can assign the Business Setup in Umm Al Quwain to our professional team whilst you concentrate on planning the future. We will complete the business set up meticulously in the shortest possible time. 

We are elaborating the business set up procedure here, for your understanding of the complete process. 

Define and Determine the Company Set Up 

You may be an ex-pat opting to expand your business entity to new markets or a debutant businessman, you need to determine the type of company to set up in UAQ. This is the primary step before you start the process. You can form a Limited Liability Company (LLC), Public Shareholding Firm, Branch Office, Representative Office, or a Professional Company in Umm Al Quwain.

Each type of company has its pros and cons. Further, there are minor variations in the company formation procedure too. You can discuss with us to finalize the type of company. Our expert professionals will provide you with detailed guidance concerning the companies. And the appropriate option for the business activity you plan to set up. 

Register the Trade Name

The Department of Economic Development (DED) in UAQ is the designated agency for scrutinizing the documents and issuing a business license. You need to forward the registered trade name to DED and obtain approval. The emirate has certain stipulations concerning the trade name. Ensure that the name you forward is as per the laid down format. 

Agreement with Local Sponsor

A local sponsor is mandatory for company formation in UAQ mainland. The sponsor will hold 51% of shares in your company. The ex-pats are authorized to hold the remaining 49% of shares. This is a crucial step. Although the sponsor will be a silent partner in your company, every legal and financial matter will be addressed to him. You must undertake an adequate background check and affirm that the sponsor is reliable. Otherwise, it can affect the company adversely. 

Initial Approval

Submit application and relevant documents for initial approval for company formation. You can proceed with formalities for a business license once you receive initial approval. After a cursory inspection, the DED will issue the initial approval.

Legal Structure of the Firm

Formulate and prepare a legal structure of the firm including Article of Association and Memorandum of Association. The legal structure will specify the authorities, responsibilities, policies and principles of the business entity. Utmost care and caution are necessary whilst preparing the legal form of the company. It has a direct implication on the performance of the firm. Therefore, it will affect the growth. 

Obtain Special Approvals

Certain types of business operations will need special approvals from relevant departments and ministries. Apply for the same and get it.

Rent or Lease Official and Commercial Space

Rent or lease official and commercial spaces at the right location for your business activity. We can get you an office space according to your choice and budget at the perfect locations. Kiltons has been providing office space based on client requirements since long. We assure you of affordable office spaces at the right locations. 

Submit Application for Business License

Apply in the laid down format to the DED for issuance of business license. You must attach all the relevant documents and approvals for the license. The officials at the DED will scrutinize the application, supporting documents and certificates and issue the business license. You can commence full-fledged business activities with the license.  

Why Business Set Up in UAQ Mainland?

 Business set up in the UAQ mainland will open up unparalleled growth opportunities for your business. It will flourish in no time, with dedicated and planned activities. Expats can expect outstanding results and exemplary business growth if you set up the right business and pursue it diligently. 

 The benefits of company formation in UAQ mainland are:

 - No minimum capital requirements. Many of the emirates have a specific minimum limit for capital. However, it is not the case with UAQ mainland. Here, the authorities have made it lenient to attract ex-pats as much as possible. Thus, UAQ Mainland Company formation is more affordable than in other regions.

- Government contracts. You can pitch for government contracts. In all probability, you will get the contract if pitched correctly.

- Multi-currency transactions. There is no restriction on currencies. Hence, you can transact in the currency of your choice.

- Option to choose any market. You can opt to sell your products at the market of your choice. This will amplify the possibility of success of your business.

- Limitless visas. You can seek visas according to the size of the company. The government hasn’t limited it to any specific number. The authority will check only the office space and growth prospects.  

Kiltons Business Setup Services

Kiltons business setup services have been supporting ex-pat and resident businessmen to realize their dreams since 1999. We have the unblemished record of being one of the most reliable business setup services in the UAE. Talk to our experienced professionals to know more about company formation and the best option for the business activity you plan.

Are you dreaming of becoming an entrepreneur?

Do you want to know more about business set up in UAQ Mainland?

Contact us now. 

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