Fujairah Free Zone Company Setup
The Fujairah Free Zone was among the first free zones in the United Arab Emirates. It is located within the Emirate of Fujairah, near the Fujairah Port. The commercial, marine, and mining industries make up the main activities in this free zone. Owing to its favourable physical address directly exiting into the Indian Ocean, the Fujairah Port holds divisions of all the major oil businesses in the area. It is conveniently situated between the International Airport and the Sea Port, giving logistical benefits to companies operating inside its boundaries. Conveyor ships link the free zone to markets in the Middle East, Iran, India, and other countries in Asia. On a weekly basis, mainline operations are scheduled to Europe, the United States, and the Far East. Fujairah free zone business setup is among the most common options for businesses looking to create a business within the Emirate of Fujairah.
Economy
The economic condition of Fujairah is good, with reduced taxes, infrastructure prices, and start-up times. Furthermore, both the licence and visa for the Fujairah free zone are inexpensive. The Fujairah free zone companies are also exempt from both import and export tariffs on raw materials, processing plants, and finished products, as per economic policies. Benefit repatriation is allowed in its entirety, enabling expatriate owners to convert their income into their home currencies. There is no minimum capital requirement for registering a company in the Fujairah free zone. There are also no laws impeding the hiring of migrant workers, which can be a significant benefit.
Types of Licenses in the Fujairah Free Zone
The Fujairah Free Zone Authority issues licences on five different levels, each offering different market opportunities. The costs of a licence are determined by its type. The type also measures the necessary stake and paid capital levels.
1. Trading: This type allows the licensee to import easily and export goods that the Authority has designated. The current trade license fee in Fujairah is AED2,500, although this is subject to adjustment.
2. General Trading: This type provides permission to purchase, sell, and re-export any goods approved by the subject Authority. Some goods can be distributed locally with this type.
3. Professional or Service: You are allowed to establish and operate a qualified Fujairah free zone company within the area.
4. Industrial License: This is given if any developer wishes to establish an industrial unit in the free zone area, keeping in view proper workforce, environmental, and machinery regulations.
5. Warehousing: This allows the licensee to rent a storage facility, process shipment, and other similar activities.
Information Needed for the Fujairah Free Zone Company Registration
The following documentation must be provided as evidence and to complete the legalities:
1. A copy of your passport
2. Visa from UAE.
3. Two copies of evidence of physical address.
4. Reference letter from a bank.
5. Resume of stockholders.
6. Your business’s application form.
Fujairah Free Zone Company Setup Cost
Owing to reduced incorporation and licensing fees, a startup in Fujairah is a more affordable prospect than in Dubai.
• One shareholder – AED 13,000
• Up to 4 shareholders – AED 16,000
• One shareholder and up to 2 visas – AED 18,000
• Freelancer with up to 4 visas – AED 22,000
• A small business with a maximum of 6 visas – AED 22,000
• A small or medium-sized enterprise with a maximum of 15 visas – AED 53,550
Benefits
The following are the benefits of setting up a company in the subject area:
1. Links to nearby global trade routes.
2. A wide range of investment options are available.
3. Regulations that are beneficial to investors
4. Asset implementation that is both effective and budget-friendly.
5. Buy shares with complete confidence.
6. The UAE’s fastest business formation phase.
7. Most affordable annual payments in the Emirates.
8. There are no monetary conditions.
9. There are no formal budgeting provisions.
Fujairah Free Zone Companies Contact Details
Interested parties should contact the numbers mentioned below for more details or questions:
T.: +971 4 450 4707