Business set up in Fujairah is one of the preferred choices for global investors as Fujairah holds a unique geographical location that makes it an ideal place for international trading activities. Offering integrated business solutions to investors across the globe, Fujairah offers an ideal economic platform to establish and expand a business in the United Arab Emirates. Fujairah is considered to be the jewel of the Middle East, thanks to the limitless scope of opportunities available for investors across a number of major sectors and business activities. With good infrastructure and an ideal location that makes access to major international shipping routes easier, Fujairah holds a primary role as a key regional business centre.
Business set up in Fujairah Creative City
Creative City Fujairah is an ideal place for doing business in Fujairah. It is the ultimate free zone that offers a large variety of business opportunities to individuals and corporate identities to set up and grow their business under business-friendly policies and government initiatives to support international trade.
Fujairah Creative City was inaugurated in 2005 by H.H.Sheikh Rashid Bin Hamad Al Sharqi and since then, the Fujairah Creative City has grown both its reputation and clientele significantly. With investments coming from some of the biggest countries and regions across the world, Fujairah Creative City is unarguably an excellent place to grow a business in UAE.
Benefits of Setting up a Free Zone Company in Fujairah
There are two free zones in Fujairah that offer several investment opportunities to global investors. One of these free zones is Fujairah Creative City and the other one is Fujairah Free Zone. While Fujairah Creative City offers some amazing opportunities in the fields of media, arts, design and technology amongst others, Fujairah Free Zone is more known for attracting the attention of commercial investors. As mentioned earlier, Fujairah holds a key geographical location that, alone, is a standout incentive for foreign investors to start their business in the emirate.
Here are some of the key benefits of setting up a business in Fujairah free zones:
- Tax-free policies
- Minimum startup time
- Low-cost business set up
- 100% Business ownership
- Proximity to the Fujairah Port
- No requirement for paid-up capital
- Investor-oriented economic policies
- International recognition and reach for a business
- Opportunities for investors in many major sectors
- An ideal economic platform for investors looking to start a business in media, communication, arts, design and other related sectors
Requirements to set up a company in the Fujairah
It is important for investors to understand all the essential requirements for doing business in Fujairah free zones. All free zones across UAE have their specific requirements and legal procedures, which need to be completed to successfully set up a free zone business in the selected zone.
Free Zone Company Formation in Fujairah
Three different types of legal entities can be formed in the Fujairah free zones. The investors must choose the right type of company setup according to their business requirements and number of shareholders (if any) involved.
Here are the three types of companies that can be established in the Fujairah free zones:
- Free Zone Company (FZCO) (2 to 5 partners)
- Free Zone Establishment (FZE) (Sole Ownership)
- Branches of companies operating within UAE or outside UAE
Fujairah Free Zone Business Licenses Cost
While building an understanding of the business set up in Fujairah free zones, it is important to know that investors must apply for a specific type of license to start their free zone company in Fujairah. There are different types of licenses available that investors can choose from according to their business activities, nature of the business and its fundamental requirements. Fujairah business licenses costs are very reasonable and come with flexible plans for business owners. The license cost for an FZE in Fujairah free zone starts from AED 13,000 and varies as per business license and activity chosen.
Fujairah Company Registration Process
The registration process for setting up a free zone company in Fujairah is divided into different segments. The requirements for registration of free zone Company in Fujairah are based on the selected company type and declared business activities.
Here is the detail of requirements for registration process of a free zone company in Fujairah.
Listed below are the documents required for Individuals (non-residents) to set up a free zone company in Fujairah:
- Copy of passport
- 8 Passport size photographs
- 3 trade names for approval
- Tourist Visa copy and/or Entry Stamp
Following are the requirements for individuals who are UAE residents:
- Visa copy
- Passport copy
- Emirates ID copy
- 8 Passport size photographs
- 3 trade names for approval
There are completely different requirements for corporate entities looking to establish their business in Fujairah free zones. These requirements are mentioned below:
- Board of Resolution
- Constitutional Documents of the Company (MOFA attested in UAE + attested by the UAE embassy of country of origin)
After the above-mentioned documents are submitted to the Fujairah Free Zone Authority, the process of company incorporation begins, which gets completed in almost eight days. The required documents for company incorporation are:
- Passport copy
- Application form
- Lease agreement
- Specimen signature
- Passport with Entry Stamp
- 4 Passport size photographs
It can take 7-10 working days for the process to get completed after which the investors can obtain their business license.
Investors need to file an application to obtain an establishment card after completing the incorporation process for a company in the Fujairah free zone. The establishment card can be obtained within 7 to 10 working days. The documents that need to be submitted to apply for the establishment card are:
- License copy
- Passport copy of the shareholders with entry stamp
Fujairah Free Zone Visa
Fujairah free zones offer several flexible options to investors to set up their business in an encouraging economic environment. The visa application and acquisition procedure is also quite simple, however, the applicants need to submit all the required documents to complete the legal requirements. The visa approval procedure takes between 10-15 days to get completed after the establishment card is issued.
Listed below are the documents that investors must submit to complete the Creative City, Fujairah free zone visa procedure:
- Application form
- Employee contract
- Visa application form
- Copy of business license
- Establishment card copy
- Photographs (passport size)
- Passport copy with entry stamp
The timeline for visa application for this free zone, for investors and shareholders is 10 to 15 days and the visa will be stamped and ready in another 10 to 15 days. The Fujairah free zone visa cost per person is AED 4,950 with additional charges for the Emirates ID issuance. It is important for investors to comply with all the legal requirements for the successful business set up in Fujairah.