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Limited Liability Company (LLC) in Umm al-Quwain - ChoiceUAE.com


Limited Liability Company - Umm al-Quwain

Limited Liability Company (LLC) in Umm al-Quwain

Umm Al Qaiwain has a total area of 770 sq km. This tiny Emirate is the least populous of the seven and is the second smallest emirate in the entire UAE. Al Qaiwain officially became a union of the emirates in 1971 and has held a key position in the strategic alliance. The place is one of the most political influential in the Arab World and enjoys a demographical advantage situated amidst Ras Al Khaimah in northern tip and Sharjah and Ajman towards the southern end. Since its association with the UAE it has developed as a modern

state with world class infrastructure & a solid economy and investor friendly policies.

Agriculture and Fishing are the primary means of income for inhabitants. It is one of the major producer and exporter of Dates which plays an important contribution in the overall economy.

This historical town boasts of its rich ancient history, civilization and early settlement. Just like Fujairah, Umm Al Quwain is famous for its natural beauty. Tourists visit here in abundance to go for sailing and conduct bird watching. This place hosts an archaeological sites and a flourishing port.

Places of tourist interests:
• Dreamland Aqua park
• Umm Al Quwain Fort
• Falaj Al Mu'ala
• Old Harbor
• Tell Abraq
• Islands of Umm Al Quwain
• Al-Dour

Its proximity from the Emirate Giants i.e. Abu Dhabi and Dubai and controlled real estate price makes it a preferred choice for business houses.

Establishing a Limited Liability Company in the Emirate of Umm al-Quwain

The registration procedures consist of numerous phases described as below:

Initial approval from Department of Economic Development, Umm al-Quwain [DED]

The first and foremost step is to obtain a necessary trade name approval and submit the Registration & Licensing Application Form [duly completed and signed by all partners] with DED, Umm al-Quwain for obtaining their initial activity approval for the LLC along with the following documents:
• Passport and family book copy of the UAE national partner
• Passport copy of the expatriate partner.
• NOC for the expatriate partner (in case he has an existing UAE residence visa)
• Passport copy of the expatriate manager [in case different from the partner]
• NOC from the sponsor for the manager [in case he has an existing UAE residence visa]
• If a company will be the 49% partner in the LLC, then corporate documents would be required including Memorandum & Articles of Association, Certificate of Incorporation, Share Certificate and a Board Resolution resolving to set up business operations in Umm al-Quwain and for appointment of the representative and power of attorney for signing the documents on behalf of the company
• Passport copy of the representative of the Company.

Note:

Corporate documents listed above including Memorandum of Association, certificate of Incorporation, Board resolution and Power of Attorney of the corporate entity need to be notarized and attested by the UAE Embassy in the country of origin. These documents will further need to be attested by the Ministry of Foreign Affairs, Umm al-Quwain. All corporate documents should be duly translated into Arabic and attested by the Ministry of Justice in Umm al-Quwain.

Notarisation of Memorandum of Association

Subsequent to the initial trade name and activity approval from DED one would need to prepare and notarize the Memorandum of Association. It is pertinent to note that all the partners or representatives of partners should be present before a Notary Public, Umm al-Quwain to sign such Memorandum.

Obtaining a tenancy contract

Once the initial trade name and activity approval from DED is obtained, you can simultaneously locate an appropriate commercial premise for carrying out the activity. It is always advisable to obtain a preliminary approval from the Planning Section before signing the tenancy contract and making the payments Furthermore, all lease agreement should be registered with EJARI under Real Estate Regulatory Authority (RERA). Typically the registration with EJARI is processed by the landlord at the time of signing the tenancy contract.

Submission to DED for obtaining license

Thereafter, the business premises are inspected, if relevant. Subsequently, the following papers along with the documents mentioned for activity approval, needs to be submitted to DED, Umm al-Quwain:
• Approved Registration & Licensing Application Form
• Initial trade name and activity approval provided by the DED
• Notarised Memorandum of Association of the LLC
• Copy of the tenancy contract, Affection Plan, DEWA receipt for the office premises and EJARI Registration

Once all documents and papers are accepted and verified, the DED will issue the payment voucher for obtaining the commercial license for the LLC.

Set up costs
The cost for setting up a LLC in the Emirate of Umm al-Quwain is mentioned in Annexure A.

Time Frame for formation of the LLC

We estimate a time frame of about 10 to 12 working days from the date of receiving the relevant documents to complete the entire process and obtain the license for the LLC.

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