Fujairah Free Zone Company Setup
One of the most important and lucrative free zones in the United Arab Emirates (UAE) is Fujairah Free Zone (FFZ), which was created in November 1987 by an Emiri Decree. The Port of Fujairah is next to the Fujairah Free Zone. All Arabian Gulf ports, the Red Sea, India, and Pakistan are completely accessible to businesses operating in the Fujairah Free Zone. The only airport in both northern Oman and the eastern coastal region is Fujairah International Airport.
In addition to its advantageous geographic location, Fujairah Free Zone boasts a world-class airport, streamlined procedures, and access to the world’s major shipping routes. Many businesses find that setting up shop in the Fujairah Free Zone is very profitable. Additionally, there are three primary advantages for investors in the Fujairah Free Zone: ACE
What is Fujairah Creative Zone?
His Highness Sheikh Rashid Bin Hamad Al Sharqi oversaw the establishment of the Fujairah Creative Zone, also called the Fujairah Creative City Free Zone, in 2005. However, the first stage of development was finished in 2007. Similar to a media city, Fujairah Creative Zone also offers media-related services, in contrast to Dubai Media City, which is a hub for radio and television broadcasters.
Advantages of Business Setup in Fujairah Free Zone
Starting a business in the Fujairah Free Zone offers investors and young entrepreneurs a lot of opportunities. The authority of the Fujairah Free Zone guarantees that new businesses and ideas will flourish in the area by ensuring that they have access to first-rate infrastructure, accommodating government regulations, and other advantages like
- Simple procedures for staffing and recruitment.
- The timely and efficient immigration process.
- Efficient communication and advanced infrastructure.
- Sponsorship and visas for an affordable skilled workforce.
- 100 percent foreign ownership.
- Full repatriation of capital and profits.
- 100 percent free transfer of funds and no foreign exchange controls.
- Exemption from import/export duties and low freight charges.
- Liberal economic policies and legal framework.
- Total safety for investors and cost-effective investment facilities.
- Reduced infrastructure investment cost.
- Investor-friendly governmental policies.
- State-of-the-art communication system.
- Diversified investment opportunities like investing in agriculture, tourism and other sectors.
- No restriction on the recruitment of foreign employees.
Fujairah Free Zone License Types
Like all other free zones, a company needs to obtain a business license before it can establish its respective business in Fujairah Free Zone. Business licenses are categorized according to nature of activity:
- Trading (normal) License.
- General Trading License.
- Professional/Service License.
- Industrial License.
- National Industrial License.
Types of Licenses Available in Fujairah Creative Zone
- Publishing.
- Management of Broadcasting.
- Marketing and Media Services.
- Music and Entertainment.
- Consultancy.
- Broadcasting.
- Production/Post-Production/Filming.
- Information Technology Services.
Business Setup Process in Fujairah Free Zone
Fujairah Free Zone company formation is an easy process which makes it simpler for new companies to start their business without much of a hassle. The steps involved are:
- Determine the type of business activity.
- Prepare a detailed plan for business setup.
- Select your company name (which must be unique) and reserve it with the Fujairah Free Zone authority.
- Set up the infrastructure, and hire the required staff.
- Deposit the mandatory capital amount in a bank.
- Handle business registration and licensing requirements.
- Get shareholders to sign the company formation documents in the presence of the free zone authorities
Documents Required for Business Setup in Fujairah Free Zone
- A resolution from the Board of the company
- Attested Memorandum and Articles of Association (MAA) from the UAE embassy.
- A valid operating business license.
- Photocopies of passport and 2 photographs of the person-in-charge, directors and shareholders.
Types of Companies in Fujairah Free Zone
There are 3 types of permissible ownership structures a business can have in this free zone:
1. Free Zone Establishment (FZE)
Businesses having only a single shareholder
2. Free Zone Company (FZC)
An entity having more 2 or more shareholders
3. Branch
A company can have any of these 2 types of branches: (1) branch of a company registered in the UAE, or (2) branch of a company registered in a foreign country
Our Role
One area that offers a profitable setting for business setup with minimal overhead and startup costs is the Fujairah Free Zone. You can take advantage of this chance to establish your company in the Fujairah Creative Zone or Fujairah Free Zone without having to deal with any red tape by working with wmbusiness LLC. Our professionals have the necessary expertise in government regulations and the local market, as well as the consulting background to make it easy for you to launch your business. Get started right now by contacting us.