License Renewal Offer on Installment Payment Plan - Umm Al Quwain Free Trade Zone
Great news for investors at the Umm Al Quwain Free Trade Zone- one of the fastest growing business hubs in the UAQ! Keep your business running smoothly with UAQ FTZ's convenient online license renewal - just AED 786 EMI.
If you own a business in the UAQ Free Trade Zone, you know that keeping your license up-to-date is essential to continue operating in the region. But what happens when your license is about to expire? Don't worry; renewing your license is easier than you might think. In this article, we'll walk you through the renewal process and provide you with all the necessary information to renew your license hassle-free.
This article covers:
Benefits of Online License Renewal at UAQ Free Trade Zone
If you’re still deciding whether or not to renew, or just haven’t gotten around to it yet, here’s a quick overview of what you’ll be missing out on if you don’t renew:
Online license renewal : Get approval for your company name and state your business activity and required license type. You will also need to choose and state the physical location of your business.
Installment Payment Plan : Installment payment plan at just AED 786 EMI for convenience and great financial planning.
Same-day license renewal : You don't have to wait for weeks to get your license renewed, as UAQ FTZ issues licenses on the same day as per norms. Even if you choose to pay by installment, the license will be delivered within 24 hours.
Two Payment Options : Two payment schedules of six and twelve months each are available. You can spread out the cost of your business license over six or twelve months, based on your preferences.
Enjoy full company ownership and 0% corporate tax : With UAQFTZ, you'll own your company outright without any strings attached and benefit from a corporate tax rate of 0%.
Quick and easy remote setup with minimum documentation : No need to deal with complex paperwork or physically be present to apply for your license or launch your business. UAQFTZ makes the setup process quick and easy, with remote options available.
Diverse range of business activities : From IT and software to food and entertainment, construction and engineering to agricultural and medical, UAQFTZ offers licenses that cover a wide range of commercial and service/consultancy industries. Plus, the UAE is home to numerous consultancies, HR, and business development companies of all sizes.
Documents Required for Renewal
Here’s the rundown of things that you will need for your license renewal.
- To start, you'll need to prepare the required documents for renewal. These include an application form for license renewal, which must be completed, signed, and submitted by the shareholder(s) or the authorized signatory of the shareholder(s).
- For individual shareholders, you'll need to submit a color passport copy
- A branch company or corporate shareholder will need to provide a certificate of good standing or an extract from the registry for UAE/GCC mainland companies and outside GCC companies. Additionally, you'll need to submit a certificate of good standing or a valid license for Free Zone companies and a letter listing the company's shareholder(s) and their shares. This letter must be duly signed and submitted by the shareholder(s) or the authorized signatory of the shareholder(s) on the parent company letterhead. Finally, you'll need to provide a color passport copy of the Ultimate Beneficial Owner (UBO).
- If you're represented by an attorney, you'll need to provide a Power of Attorney (POA) specific to company cancellation, and a copy of the attorney's passport or Emirates ID, which must be notarized by a notary public.
- Additionally, if you have an industrial license, you'll need to submit a Civil Defence Certificate, which is a requirement due to recent regulatory changes regarding fire and life safety products. This certificate can be obtained from accredited certification bodies such as UL, under UAE CD approved Certification Bodies and Laboratories list.
- You'll also need to submit an Ultimate Beneficial Ownership (UBO) declaration form. The UBO is the person or entity that is the ultimate beneficiary when an institution initiates a transaction. The beneficial owner is the natural person who, ultimately, is the person on whose behalf a transaction is conducted.
- Finally, you'll need to provide a renewed lease agreement and pay the UAQ Free Trade Zone fees, which can vary depending on the type of license you hold.
Once you've collected all the necessary documents and paid the required fees, the renewal process can be completed quickly and easily. By following the steps outlined above, you'll ensure that your business stays compliant with all regulations, and you'll be able to continue operating without interruption.
Special Notifications for Renewing your UAQ FTZ Business License
Renewing your license is a crucial task, and it's important to ensure that all necessary documents are submitted correctly. Here are a few points to note while submitting your documents:
- The Power of Attorney (POA) must be submitted in its original format for verification.
- UAQFTZ reserves the right to request any additional documents or attestations if deemed necessary.
- If any of your documents are not in English or Arabic, a certified or authenticated translation is required.
Late Renewal Guidelines
Late Renewal? Here's What You Need to Know.
Missing the deadline for renewal can have consequences, but it's not the end of the road. Here are a couple of things to note:
- A late fee will be imposed on the license if it is not renewed by the expiry date.
- Licenses that are not renewed by the expiry date will incur third party fees.
In conclusion, renewing your license in the UAQ Free Trade Zone is a straightforward process that can be completed quickly and easily. By preparing the necessary documents and paying the required fees, you can ensure that your business stays compliant and continues to operate without interruption. If you have any questions about the renewal process or need assistance, don't hesitate to contact the UAQ Free Trade Zone authorities for support.
For more details, get in touch with us at firstname.lastname@example.org
or call: +971 06 764 7272