A UAQ Free Zone Company can operate under these types of licenses:
1. Commercial License: import, export, distribution, and storing of items specified on the license. A Commercial License can have three different product lines or 10 similar product lines.
2. General Trading License: trade in a wider range of activities, giving the freedom and flexibility to trade in any commodity which is permitted within the UAE.
3. Consultancy License: entities that offer expert or professional advice and is issued to all manner of professionals including artisans and craftsmen. It allows two similar activities.
4. Freelance Permit: this allows an individual to operate as a freelance professional, and conduct business in one’s birth name as opposed to a brand name or company.
5. Industrial License: import raw materials, then manufacture/ process / assemble/package the specified products, and export the finished product.
6. Service License: carry out the services specified on the license within the Free Zone, such as Logistics, Courier Services, Insurance Service Provider, Travel Agency, Tour Services, Car Rental, etc.
To establish a business in Umm Al Quwain (UAQ), one needs to select a suitable business structure. Here are the various corporate entities allowed in the UAQ.
1. Limited Liability Company
It is also known as an LLC and is the most preferred business setup structure. In this type, a minimum of two and a maximum of fifty partners are required to set up. Every partner is liable only to the extent of their shares in the capital.
2. Partnership Company
In this type of company structure, two or more partners are jointly liable in all their money in the company’s obligations.
3. Joint Venture
This type of company setup in UAQ, there are two or more partners to share profit or loss. And the company is limited to the relationship between the partners and does not apply to others.
4. Public Joint Stock Company
In this type of structure, the capital is divided into shares of equal value. The partner is only liable to the extent of its contribution to the total money; the capital share for such a business is at least 10 million dirhams.
5. Private Joint Stock Company
In this type, the business requires at least three founding people, and those subscribed by the founding capital in full are responsible to the extent of their shares in the capital.
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