Business & Trade

  • We can say that Umm Al Quwain can be expressed as the land of current & future opportunities, where the success comes to people who grab opportunities as they arrive. If you are interested to start a networking business in the emirate of Umm Al Quwain - where you will most probably find an environment of a win-win situation which will always push the investors towards success - you will find hereunder some very essential tips / information that will surely put you in the right frame of mind to take on greater ventures.
  • Anyone who plans to invest in Umm Al Quwain needs to understand the business prospects in the area before making a move. Doing so would help take the right steps towards establishing a successful enterprise promising high returns in the times to come. There is a wide range of options to choose from as far as company formation is concerned.
  • An investor can start with opening up a bank account. Banks accounts in the Emirates do not require the account holder to have a local national to administer the account.
  • The company can hire both skilled and unskilled labor to work for the company. At the same time, it has the permission to expand to different parts of the Emirates to carry out various commercial activities; all this, without any form of interference from the local national associate which acts as the authority.
  • Being a tax free nation, all amounts that come as profits stay with the company and can be invested for purposes benefiting the company's future goals. This is in huge contrast to other countries where taxes are imposed on everything in some form or the other.
  • In order to participate in trading activities, traders have to apply for a license with the authorities. Three prominent types of licenses are available to choose from (multiple licenses can also be applied for):
  • Manufacturing and Industrial License: To construct and operate factories for manufacture of finished products.
  • Professional License: To establish entities such as schools, colleges and other institutions of similar genre.
  • Company License: To establish a professional company and trade in goods and services. This include commercial products (raw and finished), household products, services such as repair, transportation etc.
  • People / investors that have problems understanding the ways of doing business in Umm Al Quwain can contact consultancy firms that would not only help establish the business but also promote it to a certain degree. Some activities that they actively indulge in include forming, registering and running a company. Seeking their guidance would mean improvement in business dealings by enhancing efficiency and development.
  • However, before selecting from one of the many such consultancies, be sure to ask for references. It would not be a wise decision to do trust a poorly formed company with a newly starting venture. Even a small error can potentially delay the plan by as much as a decade.
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