Everything you need to know about Fujairah Business Setup
Business Setup in Fujairah
Fujairah, the only emirate that is located at the eastern side of the United Arab Emirates, has prominent business opportunities awaiting investors. The less-populated emirate out of the 07 emirates in the UAE, Fujairah has both seaport and airport. Thus ensuring better connectivity, ease of movement of support equipment/ raw materials, and the optimal possibility to export/ import products. Along with, adequately planned infrastructure and generous investment policies.
Although slow, investors are identifying the constructive factors that can be advantageous for setting up and functioning of the business. By utilizing the facilities provided by the government and establishing the right business, you can reap the best results in Fujairah. It is advisable to be among an initial lot of investors in the emirates. You can explore varying business options and markets to achieve the desired result and accomplish your dream. The federal authority has laid down certain regulations for Fujairah company formation. You can form a company in either Fujairah Mainland or Free Zone.
3 Types of Business Jurisdictions in UAE
Mainland
Freezone
offshore
Mainland companies are licensed by the Department of Economic Development (DED) of the respective emirate. They can operate both within and outside the UAE.
- Local Market Access: Mainland companies can do business anywhere in the UAE, including the local market.
- Office Location: Flexibility to open an office anywhere in the UAE.
- Business Activities: No restrictions on the types of business activities.
- Government Contracts: Eligibility to bid for government projects and contracts.
- Local Sponsorship : Not Mandatory for all Business
Freezone companies are established in designated areas that offer specific economic benefits.
- Full Ownership: 100% foreign ownership is allowed.
- Tax Benefits: Often enjoy tax exemptions, such as no personal or corporate income taxes.
- Repatriation: 100% repatriation of capital and profits.
- Simplified Procedures: Easier and faster company setup procedures.
- Customs Duty Benefits: Exemption from import and export duties within the freezone.
- Specific Activities: Some freezones are specialized and restrict the type of business activities.
Offshore companies are set up for international business operations outside the UAE.
- Full Ownership: 100% foreign ownership is allowed.
- Privacy: High level of confidentiality and privacy.
- Tax Benefits: No taxes on income earned outside the UAE.
- Cost-Effective: Lower setup and operating costs.
- No Physical Presence: Cannot have a physical office in the UAE or conduct business within the UAE.
- Restrictions: Limited to international business activities, primarily for holding, asset protection, and international trading.
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Freezones in Fujairah
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Creative City Free Zone
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Fujairah Free Zone
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Frequently Asked Questions
Here are answers to the most frequently asked questions.
Yes, a foreign national is eligible for 100% ownership of a free zone/Offshore and In Mainland specific business company in Dubai, and across the UAE.
Yes, foreign nationals can easily register a business in Dubai. Professional assistance is necessary for aspects like licensing, visa issuance, and bank account opening, and a business setup consultant in Dubai can assist you with this.
Yes, Dubai/UAE allow you to register and own businesses without the need for a physical office space.
Yes, you can easily sponsor your spouse and children through a free zone business license.You are Eligible for Family Visa
The three(3) most prominent licenses available in UAE are professional, commercial, and industrial.
Professional license:
A professional license permits offering specialized services such as consultancy, accounting, legal advisory, and so on. This license is required for skilled professionals looking to set up businesses and deliver services based on their intellectual or artistic capability.
Commercial license:
A commercial license is granted for businesses involved in trading activities and is required to legally conduct activities such as import and export of goods within and outside the UAE.
Industrial license:
An industrial license is needed for businesses conducting activities such as manufacturing, packaging, segregation, etc.
The following documents are required from the shareholder(s) and manager(s) for free zone company formation :
- Passport copy
- Latest UAE entry stamp/visit visa copy
- Residence visa copy and Emirates ID (for UAE residents)
- Address proof
- Passport-size photo
Please note that in addition to these, you may be required to submit additional documents. Consulting with a Tycoon business setup company will help you gain more information in this regard.