Business Setup in Fujairah Mainland
Located at the east coast of United Arab Emirates (UAE), Fujairah is one of the seven Emirates of the country. Fujairah is known for cargo ships coming in because of its location. The primary economic drives of Fujairah are tourism, construction, and manufacturing materials of buildings. Its strategic location is greatly used in shipping services, giving access to investors from Arabian Gulf ports, Red Sea, Iran, etc. On a weekly basis, there are mainline services that are from Northern Europe, Mediterranean, etc.
Fujairah has developed tremendously over the years under the rules and guidance of Sheikh Hamed Bin Mohammed Al Sharqi. who is the ruler of Fujairah. Infrastructure is also seen as having its continuous improvements as well to facilitate the investors. And future ones who will be setting up a business in Fujairah. One of the business setups done is Fujairah general trading among many others.
Business setup in Fujairah also requires two partners and for them to be at least 21 years old. There can be a maximum of 50 partners when business owners decide to conduct a company formation in Fujairah. Similar to the other mainlands in the UAE. Fujairah also requires business owners to have a local partner or a UAE national. If they are expatriates. This means that the local partner will hold 51% of the shares. And the business owners will only have 49% of them. This basically means that companies. That is formed in the mainland can’t be owned 100% by people if they are expatriates.
The registration of new businesses in Fujairah takes place in their municipality. Unlike the other Emirates. Because of Fujairah Department of Economic Development being non-existent just yet. Even though that is the case, founding a business does not mean it’s more difficult to do. Fujairah Economic Department helps in this case. Regardless, the procedures would be more bearable when it is done by someone who is an expert at it.
Business consultants can advise you on how to secure a Fujairah municipality trade license and are. Also around to help you to actually obtain a Fujairah trade license. So that you wouldn’t need to go through all of the procedures. They will be the people who will go through all the processing. Such as going to Fujairah licensing department. And even to the Chamber of Commerce Fujairah. Besides speaking about your business plans and which way you think. Your organization should go, a business consultant knows exactly the best warehouse in Fujairah is that can suit your needs. When you have goods to store or machines you need to use.
It can be a difficult journey to face, so it is advisable to hire someone to help you. These consultants can definitely aid you to be more prepared as you take on this venture.
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Following industries you can setup in Fujairah Mainland
We covers all the following industries, even if your industry not in list you can consult with us we can help you setup.
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Benefits of Setting up Business in Fujairah Mainland
- Strategic location
Due to its unique geographical position, the emirate has perfectly situated sea transport and services.
- Economic Business Establishment
Operating business in Fujairah is relatively cheaper compared to the other emirates in the UAE. This makes Fujairah a strategic a location for commencement of startups and SMEs firms because of minimal trade license fees, office rents, and labour costs.
Show moreLicenses for Fujairah Mainland Companies
Here are the main types of licenses available:
- Commercial License
This license is appropriate for import/export traders, trading companies, retailers, or a wholesale trader.
- Industrial License
It is applicable to industries, production, and manufacturing. This license is required to set up factories or production facilities in Fujairah.
- Professional License
This license is most appropriate for businesses providing professional services as it is well-suited for consultancy, education, healthcare, and other professional service industries.
- Tourism License
Primarily applies to companies involved in the sale of tourism products and services, including tourist information centers, travel agencies, tour operators and hotels.
Identify the right legal structure for your business
It is important to identify the right legal structure when starting a business in Fujairah. Among the options are:
- Individual proprietorship
All owned by one person. Best suited for self-employed or small business entities.
- A company with limited liability (LLC)
Foreign investors’ preferred business structure. It allows for ownership flexibility, including in certain industries, 100% foreign ownership.
- Office of the Branch
An extension of a foreign parent company. Can perform the same activities as the parent company.
- Representative Office
Restricted to marketing and research activities. Cannot engage in revenue-generating activities.
- Civil Company
Suitable for professionals like engineers, doctors, or lawyers. Requires a local service agent for administrative support.
- Strategic location
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Business Setup Requirements & Procedure
Reputable businesses set up consultants such as FAR Consulting Middle East, which can assist in establishing a business in mainland Fujairah and complete the following processes:
- Choose Your Business Activity
Choose the activity most efficiently aligned with your company’s objectives. Whether you require a new type of trade license and other subsequent permissions will depend on this one.
- Select a Lawful Framework
Select, based on ownership preferences/ operating needs a legal form of incorporation like the LLC or a branch office.
- Avail a Trade Name
Obtained a unique business name from the Department of Economic Development (DED) Fujairah. The name has to conform to UAE naming rules and regulations.
- Get the First Approval
Besides these following points, you need to follow the guidelines of the local legislation before going to apply for the DED first certification for your business activity.
- Draft Legal Documents
Prepare either a Local Service Agent Agreement for civil businesses or the Memorandum of Association (MOA) for LLCs.
- Steps to Take in Order to Safeguard Your Company’s Resources
Office space in Fujairah Mainland can, therefore be bought or rented. It must be appropriate depending on the kind of business that one intends to put in that space.
- Submit your TH ticket with the license application
Deliver to the DED the trade license application form together with the appropriate accompanying documents.
- File an account with the Labor and Immigration Authorities
Both GDRFA and MOHRE must be joined immediately after obtaining trade license to recruit employees and applying for visas.
- Times Change Business Solutions and Organization: Open business current account
When opening a corporate account, choose a bank in the United Arab Emirates. For the purpose of trading, shareholders will be required to present some of the following documents, including the MOA and the trading license.
- The procedure of processing the company setup would range from 2 to 4 weeks.
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Support Services Offered in Fujairah
FAR Consulting Middle East helps in fast track business setup in Fujairah. If you are planning to start your business in Fujairah. It is advisable to consult our business setup professionals to help you with legal and accounting formalities.
Our services include:
We provide assistance in finding a local sponsor
We can aid you with visa and licensing requirements
Coordination with uae government departments
We can also assist you in choosing right type of company
Help you determine the location best suited for your company
Guidance in preparing a strategic place for your business
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Business Setup Cost in Fujairah
Below is the estimated business setup cost with our own assessment of the fees. You can contact us for further information regarding this table of estimation.
UAE Mainland Estimated Official Cost for Study Case/New Business Setup Fees/Cost/Receiver Narration Cycle Cost (AED) Payment Comments Trade Name Reservation Govt. Agency One time 610 100% Adv. View Initial Approval for Your Business Govt. Agency One time 110 100% Adv. Local Citizen – Sponsorship Fee Your Business’ Local Sponsor Yearly 15,000 100% Later View MOA – Legal Translation Services Translation Services One time 1,280 100% Adv. View Notarization of MOA Govt. Agency One time 960 100% Adv. View Licensing & Certificate of Incorporation Fees (for specific business activity) Govt. Agency Yearly 7,000 100% Adv. View File Opening – Immigration (Establishment Card) Govt. Agency One time 860 100% Adv. File Opening – Ministry of Labour (Establishment Card) Govt. Agency One time 2,053 100% Adv. E-Signature Card – Ministry of Labour Govt. Agency One time 1,000 100% Adv. Farhat Office & Co. Fees – Your Business Registration Consultant’s Professional Fees
All of the Following Services are Included:
» MOA drafting – Arabic/English
» Power of attorney drafting – A/E
» Side Agreement drafting – A/EProfessional Fees/Farhat Office & Co. One time 15,000 100% Adv. TOTAL 43,873 View ATTENTION – NOTEAll fees for government and related authorities are an estimation only. The exact government fees will be determined at the time of submission of the applications. We are obligated to provide our clients with all receipts of government and related agencies against the amount that will be paid. Every amount that will expense for your business registration will be supported by documents. In case of shortage, the client has to repay us. In case of excess, we have to refund the client.
Our professional fee covers consultation, drafting of legal documents, introducing reliable local citizen service-agent when required, assisting in document notarization from the local notary public, assisting in local bank account opening, and applying to the concerned authorities on your behalf.