BUSINESS SETUP in UAE
6 EASY STEPS TO YOUR NEW LICENSE
Decide which license is most applicable to the business requirements i.e. Commercial License, Consultancy License, General Trading License, Service License, Freelancer Permit or Industrial License. If uncertain – we can advise.
STEP 2. CHOICE THE ENTITY
There are three options when it comes to establishing a business within UAQ FTZ:
- A Free Zone Establishment (FZE), which is suitable for a single shareholder
- A Free Zone Company (FZC), which is for two and up to 50 shareholders
- A branch of an existing company.
STEP 3. CHOICE THE FACILITY
Choose from a variety of offices,warehouses and land suitable for your business.
STEP 4. SUBMIT DOCUMENTS
The appropriate documents must be submitted for FZE, FZC, and branches. Our staff is happy to assist with guidance if required.
STEP 5. PAYMENT
Upon submitting the document, we will raise an invoice whereupon payment will be required.
STEP 6. RECEIVE TRADE LICENSE and ACTIVATE YOUR BUSINESS
Upon making payment, the entity will be licensed from UAQ Free Trade Zone Authority. As soon as the license has been issued, the business is ready to start operations. At this moment the residence visa can be applied for and the bank account opened.
Business Setup in UAE
Umm Al Quwain Free Trade Zone offers a number of Packagess:
I. General Trading package is AED 27,500 (3 visas eligibility).
For company incorporation, we will need the following documents to be sent to us by courier:
2 original signed Articles of Association (each page should be initialed by each shareholder and signed on the last page).
2 original signed Memorandum of Association (each page should be initialed by each shareholder and signed on the last page).
2 original Lease Agreements (each page should be initialed by each shareholder and signed on the last page).
1 original Application Form (each page should be initialed by each shareholder and signed on the last page).
1 original Specimen Signature.
4 passport-sized photos (white background) for each shareholder for the Establishment Card.
The whole incorporation process can be completed by sending the above-mentioned documents to us (signed by all shareholders) OR by sending an Authorised Signatory to set up the company and receive the license.
The license will be ready in one week.
Premium Office is a Flexi Office (shared office). It can be used for one hour a day five days a week during our working hours (Sunday to Thursday – 8:00 am till 4:00 pm).
The manager may hold and keep holding his own existing visa (no need to have Free Zone visa).
Visa holder (Investor OR Employee) can sponsor his family.
Visa is issued within 10 working days (depends on the procedures in the Ministry of Interior/Immigration Dept.).
Establishment Card takes around 10 working days. After receiving the Pink Paper (the visa), the investor visa applicants will have to do their medical test and apply for the Emirates ID Card.
Visa cost is not included in the package cost.
Medical Test can be done in Al Baraha Hospital in Deira, Dubai or in any government hospital all over the UAE.
Emirates ID Card can be applied for at any Typing Centre, too. We just need the original Medical Report, original Emirates ID Card Payment Receipt, original Visa (pink paper), original Passport and 4 passport-sized photos.
No visa deposit needed.
No capital proof/bank letter.
No audit report.
The Investor can open a corporate bank account in his/her company’s name after we hand over the license.
II. Micro Business Package AED 13,500 (Onshore company).
- MBP includes a PO Box number (will be shown in the license).
- No Flexi Desk is included.
- No visas.
- No email.
- AED 11,500 is the annual renewal fee for any micro business license.
III. Commercial and Consultancy Licenses (both AED 20,500) gives the investor the eligibility for 2 visas.
Investor Visa (3 years) costs AED 2,500 plus the cost of the Medical Test and the Emirates ID Card,
Employee Visa (2 years) costs AED 2,200 plus the same costs.
The shareholders can have 2 investor visas, 1 investor visa, and 1 employee visa or 2 employee visas (investor’s choice).
All companies should end with FZC/FZE/Branch.
Avoid the names of countries and Emirates, the words (Incorporation/Limited/Public).
Up to 50 partners in one company.
IV. Freelancer Permit AED 16,500 per year
In order to apply for a Freelancer Permit, the applicant will be requested to submit the proving documents/achievements/training courses/essays/art works/qualification degrees/letter of endorsement/letter of recommendation/personal website or any other proof to support his/her application for a UAQ FTZ Freelancer Permit.
Copies of the proving documents are accepted (originals might be requested for verification).
No attestation is required.
The Freelancer visa is for 2 years, and it allows its holder to sponsor his wife and kids (2 years visas as well).
Mothers cannot be sponsored.
Once you want to apply, please send us a clear colored passport copy and a proof of address for the applicant (recent utility bill of his/her place of residence in his/her name even if outside the UAE).
Note: the visa cost is not included in the package cost.
- The Freelancer Permit package costs AED 16,500 (AED 14,500 upon annual renewal).
- The visa costs AED 2,200 plus the cost of the medical test and the Emirates ID Card.
- A Freelancer Permit Holder can open an individual bank account (not a corporate one).
- As a UAQ FTZA Freelancer Permit Holder, the client can sponsor his parents for a three months visit visa, as he will be holding a Residency Visa for 2 years (renewable).
- No NOC is required from any of our clients in order to set up their companies in UAQ FTZA.
We understand that information is too much but at least you can understand the Cost of stat-up that is lowest in UAE for a moment – we are here in Dubai to help you to make right choice and help you with other important issues like proper family accommodation, kids education, tax planning etc.
Andriy D. Melnyk
Trident Group CEO