Business setup in Fujairah free zone
Two decades ago, Fujairah Free Zone Authority was established with a vision to provide business owners the needed support and facilities for their businesses. Being adjacent to Fujairah sea port adds to the many advantages that investors gain when they decide to carry out the Fujairah Free Zone company setup. The Fujairah Free Zone companies find it easy to access Arabian Gulf ports, the Red Sea, Iran, India, and Pakistan with the means of weekly feeder vessels. In addition to this, Fujairah Free Trade Zone is in near proximity to Fujairah International Airport. So, to sum up, so far, it is a free zone that has good access to seaports and airports, making it an ideal choice among UAE free zones.
It is not a new notion in the UAE for foreign investors to come here and carry out a company formation in UAE in hopes that they will soon have the best business in UAE. With just the above-mentioned details, many businessmen have been conducting Fujairah Free Zone company registration as it duly meets their needs. Moreover, the type of ownership in Fujairah Free Trade Zone are as follows: Free Zone Establishment (FZE) that is an entity with a sole owner, Free Zone Company (FZC) that is an entity owned by two to five partners, and Branch of UAE Company or Branch of a Foreign Company.
Although business setup in Fujairah Free Zone is fairly simple when you have the right information, it is still advisable to reach out to company formation services. By having someone to inquire from, you will have all the ideas about how to start a business in UAE free zone and Fujairah Free Zone license cost, for you to be prepared financially. With the information that you have, you can weigh things. You can decide easily on which UAE free trade zones is the cheapest free zone in UAE and have the cheapest free zone license in UAE. This information is regarded as important before going through the business setup in Fujairah or anywhere else that you want to carry out your business set up in UAE free zones.
When you have finally decided where you want to have your Freezone company formation, the documents will be then passed to the concerned departments. This time, you will only have to wait as your consultant will be the one who is responsible of going through the procedures needed for the business setup in the UAE. The consultant will be the one who will go to the Fujairah Culture and Media Authority and Fujairah Economic Department to process papers and deal with them on your behalf. In this way, you can focus more on the strategies that you need your business to have for it to take the right turns in the future
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Following industries, you can setup in Fujairah Free Zone
We cover all the following industries, even if your industry not in the list you can consult with us we can help you setup.
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Benefits of Business Setup in Fujairah Free Zone
It has been two decades since Fujairah Free Zone is serving the UAE and aiding it with its vision for continuous growth and the booming economy. The advantages that the free zone is offering great help in inviting investors after investors. The below benefits are some of them:
100% foreign ownership
A local sponsor will not be needed when a business owner decides to choose a free zone to setup a business in, unlike when one chooses the mainland, wherein the local sponsor gets 51% of the shares. Being in a free zone means that you can have your company’s 100% ownership. This simply implies that you can start your business as soon as you are prepared.
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LocationFujairah Free Zone Authority has a strategic location that is in easy reach of Fujairah International Airport, which is the only airport on the east coast. It is also near the Port of Fujairah, giving it an edge when it comes to sea transport.
Tax exemption
Even if the value-added tax (VAT) has already been implemented in the country for some goods and services, corporate and income taxes are still not required to be paid to the government. This is still a huge advantage for the investors who are looking for tax exemption on those kinds of taxes.
Corporate bank account setup
The free zone is willing in lessening your burden when it comes to opening a corporate bank account. Since paperwork is required, the free zone can lend you a hand to make it easier for you. They are even free to advise with regard to the process.
There are a lot more that Fujairah Free Zone is capable of offering businessmen. The following additional benefits are listed below for you to see:
- Variety of investment fields
- Investor-oriented policies
- Efficient and cost-effective investment facilitation
- Full investment security
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Business Setup in Fujairah Free zone Requirements & Procedure
Requirements for Fujairah free zone company registration
- Proof of tradename reservation (our firm’s task)
- Proof of initial approval for the activities (our firm’s task)
- Passport copies of the shareholders
- Passport copy and CV (resume) of the manager
- Personal information sheet of each shareholder and manager (template will be forwarded by our firm)
- Lease agreement (documents)—having a physical address for your business/office is mandatory in the UAE. The rent in average within the free zone area is USD 25 up to USD 45 per sq. ft. (USD 225 up to USD 400 per sq. m.). Our firm can assist you while searching for your physical address. You can learn more about leasing and rental cost here. (This item will be required only after we obtain the initial approval from the authority.)
- Notarized and attested Power of Attorney appointing our firm as your legal representative, so that we can act on your behalf and/or on behalf of the shareholders (template will be forwarded by our firm).
- There are some activities which might require third-party/authority pre-approval—accordingly, additional cost and professional fees might be applicable.
- Also during the process, the authorities might require a few other documents.
Additional Documents Required for a Corporate Shareholder
- Attested and notarized Memorandum of Association/Article of Association—it must be attested from the UAE Embassy at the place of origin
- Board resolution must be resolute by the board of directors of your existing company/entity at the place of origin expressing intent of establishing a new setup abroad. It must be attested and notarized by the UAE Embassy (template will be forwarded by our firm).
- Certificate of registration (if applicable) of your existing company/entity, license, or certificate of incorporation must be attested and notarized by the UAE Embassy
The procedure of processing your RAKIA Free Zone company formation will range from 2 to 4 weeks.
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Support Services Offered in Fujairah Free Zone
FAR Consulting Middle East can help you in obtaining your Fujairah free zone trade license and provide the following services as well when you let us handle your business setup affairs:
- Applying and following up on behalf of the client until the collection of the Certificate of Business Registration (Trade License)
- Representing the client in front of the authorities
- Assisting the client in the bank account opening
- Assisting the client in account opening with the Ministry of Labour
- Assisting the client in account opening with the UAE immigration
- Assisting the client in leasing a premise as an address for the business
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Business Setup Cost in Fujairah Free Zone (FFZ)
Farahat & Co has an experienced team of Business setup consultants that efficiently handle the Fujairah free zone company setup. The fee table below provides a breakdown of the estimated Fujairah free zone trade license cost and other costs associated with the business setup. Please do contact us for detailed information on company formation in Fujairah.
Fujairah free zone License Cost
Business Registration and Licensing Cost Fees Incorporation Fee AED 5,300.00 Setting up a branch office (Select one of the following) Trading License (Starting from) AED 5,000.00 Service/Consultancy License (Starting from) AED 5,000.00 E-Commerce License Fee AED 5,000.00 General Trading License Fee AED 10,000.00 Logistics License Fee AED 10,000.00 Investment License Fee AED 50,000.00 Educational License Fee AED 50,000.00 Holding License Fee AED 20,000.00 Manufacturing/Industrial License Fee AED 5,000.00 Setting up a Branch of a Foreign Company (Select one of the following) Trading License (Starting from) AED 5,000.00 Service/Consultancy License (Starting from) AED 5,000.00 E-Commerce License Fee AED 5,000.00 General Trading License Fee AED 10,000.00 Logistics License Fee AED 10,000.00 Investment License Fee AED 50,000.00 Educational License Fee AED 50,000.00 Holding License Fee AED 20,000.00 Manufacturing/Industrial License Fee AED 5,000.00 Additional Fees for Business Registration Chamber of Commerce AED 3,020.00 E – Channel Registration AED 2,080.00 E – Channel Refundable Deposit AED 5,000.00 Visa Processing Cost Bank Guarantee / Employee Visa deposit AED 2,000.00 Emirates ID application AED 390.00 Medical Test – Normal Process (Starting from) AED 300.00 Employment/Residence Visa (Select one of the following) Employment/Residence Visa – In Country AED 4,460.00 Employment/ Residence Visa – Out of the Country AED 3,460.00 Investor/Partner Residence Visa – In Country AED 5,450.00 Investor/Partner Residence Visa – Out of the Country AED 4,450.00 ATTENTION – NOTEAll fees for government and related authorities are an estimation only, as of on 21st September, 2019. 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.