The only emirate located on the eastern side of the UAE (Gulf of Oman), i.e Fujaria, has an advantage when compared to the other six emirates situated along the Arabian Gulf. Cost-friendly and good connectivity to other major cities in the UAE makes company formation in Fujairah a choice of many entrepreneurs.
The Fujairah free zone offers low-cost plans, good customer support, and extraordinary facilities for Fujairah free zone business setup. In over 2 decades, the businesses in Fujairah have grown two times more than that in other free zones. Given the latest technology and resources available in the region, cross-border investors from the Gulf Cooperation Council (GCC) countries invest in manufacturing, logistics, processing, trading, and assembling.
Why Form a Company in Fujairah Free Zone?
The Emirate of Fujairah is the fifth largest Emirate in the country. In the past, it was a part of the Sharjah Principality. However, it is now recognized as a separate administrative unit. Moreover, Fujairah is the only Arab principality located on the coast of the Indian Ocean. This Emirate has been developing at full tilt since the last decade and entices foreign investments into the national economy. Moreover, the Fujairah free zone ensures comfortable and smooth international business operations within the region. Today, business people and investors from all over the world express a desire for company formation in Fujairah.
What are The Benefits of Company Formation in Fujairah?
Besides low-cost Fujairah free zone business setup packages, the Fujairah region offers many other benefits of company formation. The most prominent ones are given below:
- The region offers a strategic location, connected to major cities. Moreover, it is the only Arab principality to be situated on the coast of the Indian Ocean.
- It is now a valuable global business focal point.
- The Fujairah free zone is a gateway for many other vast business nations.
- The region offers a modern and efficient communication system.
- You are allowed to repatriate all of your capital and profits.
- The region also offers various lucrative opportunities for investment in the tourism sector.
- Fujairah has flexible economic policies and a lenient legal framework.
- It is easy and simple to recruit staff in the Fujairah region.
- Fujairah allows you to sponsor families. Additionally, you can acquire visas for an affordable skilled workforce.
- Free zones in Fujairah provide for 100% foreign ownership.
- The region offers a total exemption for import/export duties.
- You get support from the government at every step of the company registration process.
- Choose from different Fujairah free zone business setup packages as per your requirement.
What Business Entities Can be Formed in Fujairah Region?
All the commercial companies established in the U.A.E have to take any one of the following legal forms:
- Sole Proprietorship
- Limited Liability Company
- General Partnership Company
- Professional Company
- Joint Venture
- Public Shareholding Company
- Private Shareholding Company
What are the Types of Business Licenses Offered in Fujairah Free Zone?
For company formation in Fujairah, one has to acquire a business license. The business license can be issued under the following categories:
- General Trading License
- Professional License
- Trading License
- Commercial License
- Service License
- Industrial License
- Warehousing License
- Manufacturing License
The standard time for completion of the license registration process is 2 to 3 working days.
What are The Steps to Start a Company Formation in Fujairah?
Company Formation in Fujairah is lucrative. However, there are a few important steps that you need to follow for completing the registration process of your business in this Emirate. Typically, the procedure involves presenting the business plan, selection of business activity, reserving company or trade name, submission of legal documents, and the application of visas.
Furthermore, note that the specifics of the business setup process vary according to the kind of licenses and permits you apply for. Additionally, it also depends on the form and nature of your business. A few important points to take note of are as follows:
- It is important to get primary approval for your trade name. On the basis of this, you will be granted other permissions and your visa.
- Select your business activities and get approval from Fujairah Municipality.
- You need to take special permission from the concerned Ministry/Department in case the business activity you want to conduct is not listed under the list provided by the department.
- Draft and get the company’s Memorandum of Association signed by all the business partners. Also, have it notarized from the court.
- Register through Ejari to get your tenancy contract. Also, save your unique Ejari code for future reference and inspections.
- Obtain the capital contribution certificate from respective banks.
- Submit application form, initial approval, a notarized copy of MoA, tenancy contract, capital certificate, etc. to the Municipality.
Once all your documents are examined by the concerned departments, your trade name will be entered in the Commercial Register. Further, the Memorandum of Association will be printed in the Ministry of Economy Bulletin. As all these steps are complete, the municipality will then issue your business license.
What Are The Documents Required for Fujairah Free Zone Business Setup?
The list of documents you need to submit for company formation in Fujairah:
- A copy of a valid business license.
- Resolution of Board of the Company.
- A Memorandum of Association.
- An Article of Association from the Embassy.
- A proper business plan.
- Colored passport-sized photographs.
- Passport copies of all the investors and employees.
- Passport copies of all the company shareholders.
- Trade name reservation certificate and payment slip.
- Important personal information of all the shareholders and investors of the company.
Form Your Own Company in Fujairah Free Zone Today!
Although the process to start your own company in Fujairah is pretty simple, if you are new to this, you might end up missing a few important steps of the process. To avoid any such mishap, we suggest you take help from company formation experts. The company formation experts at Shuraa Business Setup will guide you at each step and help you gather all the required documents. Moreover, they will also assist you with selecting appropriate business activities and license packages at a very lost as per your requirements. All you need to do is give us a call and we will manage the rest. Book a free consultation with our experts to know more about company formation in Fujairah, or you can also call +971 44081900. You can also send a WhatsApp message at +971 50 777 5554. For email assistance, mail your query at [email protected]
