Umm Al-Quwain in the UAE is a free zone for company registration. How it works?
Our article describes the principle of company registration in Umm al-Quwain and analyzes in detail the atmosphere in which the firm will operate after registration in this region of the UAE.
We have provided detailed instructions about the “life” of the UAQFTZ zone. We will consider how the security in the zone is arranged, what rules are observed with car parking, where waste is disposed of, or what will happen in case of fire or flooding.
We will touch upon the topic of not only profitable business in the Emirates, but also the opportunity to get a solid profit in deposit accounts in banks of the UAE.
The governing body in the free region is the administration of the zone. To conduct any type of activity, you need to become a licensee – for this an individual or a company needs to obtain a license in the administration.
Principle of jurisdiction for business registration in the region
The administration of the zone is a special management body of the UAQFTZ, which publishes regulatory procedures and rules, implements a political device, typical to this region. The administrative policy covers the administrative sphere of the department and is directed to use its own land resource. The main credo of the administration is the management of the best ways, in order to maintain a long-term economic reserve and strategy.
A special law describes the rights and obligations that apply to the UAQFTZ zone, such as:
1. Obliged to provide infrastructure, housing and services, living, working and organizing commercial projects in the region.
2. The right is given:
• to own a real estate in the territory of the zone and provide it for rent;
• to provide a range of paid services within the region;
• to introduce procedures for coordination on the internal territory and to carry out actions that, in the opinion of the administration, are most conducive to the achievement of goals and gross well-being.
The policy of the UAQFTZ administration is designed so that all those who are employed, live or have business companies with a commercial direction within the region, followed all the rules, treaties and laws. For this, there are penalties for all who do not qualify for such requirements.
It is also empowered to decide on its own various types of matters that are within their competence, and redirect them to other relevant structures.
Those who live, work or own a registered firm in Umm al-Quwain are considered automatically in accordance with the jurisdiction of the administration. Thus, they recognize the prerogative of the administration of the zone on the board in the region, its construction, possession and disposal of the infrastructure sector.
Even observing all established requirements by the management structure, monetary obligations can be formed and in favor of other bodies. This can occur in such circumstances:
- use of internal joint areas of all kinds of buildings;
- at introduction by any presidium of every possible gathering and duties;
- ownership of the property, which is leased to any person;
- Utilities are used;
- if different legislative norms and regulations are applied;
- obligations under the model contract of various nature.
Such expenditures are calculated and paid without the participation of the administration. In some cases, to facilitate management and payment, the infrastructure payment is included in administrative deductions.
Nuances of traffic in the territorial office of the region UAQFTZ
The internal traffic arteries after the registration and after obtaining a license are considered to be generally accessible.
The administration may request from the licensee proof of passing the licensing properly and fixing through the Department of Traffic or similar structures of the UAE each driver, operator and vehicle.
All transport must meet the following requirements:
- to observe technical serviceability and suitability for use;
- to answer a full list of legislative documents, rules and regulations that regulate vehicle security and belonging to such.
All information about drivers who do not comply with the rules of use are reported to the police department. They are fined by the Department of Traffic of UAQFTZ and other institutions of the state.
It is compulsory to comply with the law concerning parking of transport and others adopted by the administration. For parking there are special places for which a fee may be charged. In cases of parking vehicles with violations or in prohibited places, the relevant structures are notified and penalties are issued.
Document permitting to cross the border in two directions
In order to have free two-way access in the zone, employees and transport make out a special access document or permit. At the discretion of the administration, a vehicle may be allowed or denied entry.
Anyone who wants to get inside the zone is required to declare things in the security service that are carried with them.