Located in Fujairah, the Fujairah Free Zone is one of the most popular free zones in the UAE that is home to businesses from countries across the world, especially the US, the GCC countries as well as businesses from Asia, Europe, and Africa. The process of business setup in Fujairah Free Zone is regulated and controlled by the Fujairah Free Zone Authority (FFZA) and attracts companies from a variety of industries, including industrial, and maritime activities. The free zone’s key attraction is its strategic location adjacent to the Port of Fujairah. Initiating the process of business setup in Fujairah Free Zone gives the foreign investors the triple benefit of Accessibility, Connectivity and Economy (ACE).
Fujairah Free Zone is also close to Fujairah International Airport, which is the only airport serving the UAE East Coast as well as northern Oman. Along with the strategic location, investors can enjoy 100% ownership, total repatriation of profits, low or minimal taxation, affordable startup costs, a wide variety of business activities etc. Moreover, the emirate of Fujairah, dubbed the lungs of the UAE, offers an affordable option to live, work and do business. Investors eyeing all these benefits prefer to start a company in Fujairah Free Zone with the assistance of reputed business setup consultants in Fujairah.
Business Types in Fujairah Free Zone
The investors can opt for different types of legal structures for business setup in Fujairah Free Zone. The type of companies that the entrepreneurs can set up in the free zone depends upon the number of shareholders. The following are the major types of business structures allowed to form in the Fujairah Free Zone:
Planning To Start A Company in Fujairah Free Zone?
Send us your enquiry and one of our business setup experts will get back to you.
1. Free Zone Establishment
The investors can set up a Free Zone Establishment (FZE) with a single shareholder. The shareholder can be either an individual or a corporate entity. The minimum capital required to set up an FZE depends upon the business activity.
2. Free Zone Company
To start a Free Zone Company (FZC) in Fujairah Free Zone, a minimum of two shareholders is required. The number of shareholders can go up to a maximum of fifty, either individuals or corporate companies.
3. Branch Offices
The Fujairah Free Zone provides licenses for the existing companies to set up a branch office within the free zone. Both local and foreign companies can open a branch office in Fujairah Free Zone. To meet the legal requirements of setting up a branch office in Fujairah Free Zone, the investors can avail of the services of reputed business setup consultants in Fujairah.
Licenses Available for Business Setup in Fujairah Free Zone
- Trading (normal) license
- General trading
- Professional/service license
- Industrial license
- National industrial license
Facilities Available for Business Setup in Fujairah Free Zone
Foreign investors need to check the facilities they can avail of before selecting a free zone for company formation in the UAE. By taking up the process of business setup in Fujairah Free Zone, foreign investors can avail of the following key facilities:
- Virtual Office
- Flexi Desk
- Custom Built Units
- Open Land
Reasons to Set up a Business in Fujairah Free Zone
The location is the prime factor that attracts investors to this free zone situated in the Northern Emirates. However, there are other big advantages that make the business setup in Fujairah Free Zone an attractive prospect for foreign investors.
1. Easy to Get Multiple Visas with No Physical Presence
Unlike many free zones in Dubai, the physical presence of the investors is not mandatory for company incorporation in Fujairah Free Zone. The investors can also apply for multiple visas in Fujairah Free Zone without being physically present in the UAE. Due to this convenience, foreign investors often pick the business setup in Fujairah Free Zone as their first preference.
2. Quick and Easy Business Setup Process
Foreign investors who do not wish to spend their valuable time on lengthy procedures and other legal requirements find the company incorporation in Fujairah Free Zone attractive. A business can be set up in Fujairah Free Zone within a few days if the investors possess all the valid documents. The time for incorporation can be reduced further if the entrepreneurs dial up the best business setup consultants in Fujairah.
3. A variety of Business Activities are Available
The availability of a wide range of business activities is a major reason why foreign investors are interested in setting up a business in Fujairah Free Zone. The Fujairah Free Zone is home to companies from a variety of industries such as manufacturing, distribution and logistics. The free zone allows business activities including general trading, service/consultancy, investment, financial services and even alcohol & tobacco trading. The proximity to the Fujairah Port and the modern warehouses equips the investors with the ability to conduct export/ import activities without any hassle.
4. Easy to set up a Corporate bank account
Opening a bank account is a big challenge for foreign investors who wish to start a business in the UAE. However, Fujairah Free Zone Authority is dedicated to easing the process for the investors by reducing the burden of paperwork required for opening a corporate bank account. In addition to that, business setup consultants in Fujairah help to introduce the investors to major banks in the UAE.
Process of Business Setup in Fujairah
Setting up a business in UAE Free Zones is generally easy and could be completed in a few steps. The Fujairah Free Zone also offers a quick and easy procedure for company formation. Usually, the following steps are to be followed to start the process of business setup in Fujairah Free Zone:
- Decide Business Activity
- Choose Company Name
- Decide the Legal Structure
- Submit Application
- Receive License
- Open Bank Account
VAT Obligation on Designated Zones
Fujairah Free Zone is classified as a designated zone by the Federal Tax Authority (FTA) for Value Added Tax (VAT) Purposes. A Designated zone is a specified fenced geographical area having security measures and customs controls in place to monitor the entry and exit of individuals and the movement of goods to and from the area. The goods transferred between designated zones shall not be subject to VAT. However, goods supplied by an entity in the designated zone to entities outside the designated zone are subject to 5% VAT. Services provided by an entity to other entities inside the designated zone or outside the designated zone are subject to 5% VAT.
Choose the Best Business Setup services in Fujairah
Company incorporation in Fujairah Free Zone provides foreign investors with the benefits of 100% ownership and total repatriation of profits and a favourable tax regime. Along with such general UAE free zone benefits, the Fujairah Free Zone gives added benefits of strategic location, low-cost business setup, highly developed infrastructure, easy setup procedure, and flexible office spaces. The procedure of business setup in Fujairah Free Zone is not very complex, but the entrepreneurs need to handle all the documentation processes carefully to avoid potential delays. Therefore, the investors should seek the advice of well-known business setup consultants in Fujairah, such as Jitendra Business Consultants (JBC), before embarking on setting up a business.
JBC is a leading provider of business setup services in Fujairah with years of experience in assisting investors in setting up their businesses in free zones such as the Fujairah Free Zone. JBC has a team of highly qualified business setup consultants who possess sound knowledge of all the laws and regulations, especially the labour laws and immigration laws. JBC’s business setup consultants assist the investors in requirements including company registration, drafting of MoA, visa processing, obtaining trade license, etc.