02 09 2020

Company formation in the FEZ Umm Al Quwain. Part 1

Company formation in the FEZ Umm Al Quwain. Part 1

In the first part, we will talk about the main features of companies operating in the territory of the FEZ Umm Al-Quwain, as well as about the rental of premises.

Let's start with a list of the distinguishing features of companies in the Umm Al Quwain FEZ:

- Full management and ownership of the company belongs to the foreign owner. Accordingly, the profit is also obtained in 100% volume.

- No tax on income, both personal and corporate.

- Companies can be managed by no more than 5 owners.

- If you register a company in the FEZ Umm Al Quwain, then it becomes a resident of the United Arab Emirates, which in turn gives you the opportunity to apply for visas for your family and your employees. The number of visas varies depending on the license issued and the size of the rented premises.

- An important point for a business operating in the international market is the absence of currency restrictions.

- Possibility of obtaining a UAE tax resident certificate.

- Without paying customs duties, the company can make exports and imports within the free zone and to countries around the world.

- There is no need to have a resident visa to open a company.

- There is no need for confirmation and payment of the authorized capital.

- Benefits for companies provided by the “Ahmed Bin Rashid Port”.

We figured out the distinctive features, then we move on to the process and nuances of renting warehouses, premises and offices.

The firm needs to have office space inside the FEZ. But this rule does not apply to freelancers who have received permission to carry out activities.

At your disposal within the free zone are office and warehouse premises, as well as land plots. It is possible to build your own facility for further activities, having previously agreed on all the nuances with representatives of the FEZ administration.

Offices are offered in various formats, you can rent a space in a business center, or a full-fledged office warehouse with the necessary infrastructure.

If you need to rent a warehouse, it should be borne in mind that the area for warehouses ready for rent starts from 100 square meters. The storage space includes an office, a storage room, a washroom, electricity and water supply.

Regarding land plots, the area starts from 2.5 thousand square meters. The lease term is 25 years, then you can extend the lease.

If necessary, you can rent an apartment or a room in a labor camp for your employees.