Establishing a company in the Fujairah Free Zone represents an attractive strategic option for both local and international investors. The Fujairah Free Zone is located in a prime location on the eastern coast of the United Arab Emirates, providing direct access to the Middle East and Asian markets, enhancing its ability to be an ideal starting point for businesses.

Fujairah Free Zone is an ideal platform for establishing companies, thanks to its unique business environment that combines flexibility with customs and tax exemptions. The free zone offers attractive incentives to investors, such as full exemption from corporate tax and value-added tax, in addition to facilitating incorporation and registration procedures. The zone also provides modern infrastructure, including advanced warehouses and logistics facilities, which facilitate shipping and distribution operations.

Fujairah Free Zone also allows 100% foreign ownership of companies, making it more attractive to international investors looking to expand their businesses without the need for a local partner. The free zone also offers multiple options for company types, including limited liability companies and sole proprietorships, giving investors the flexibility to choose the structure that best suits their business.

In this article, we will discuss how to set up a company in the Fujairah Free Zone, reviewing the basic steps and procedures required, as well as the advantages and opportunities that this free zone offers. We will also highlight common questions that may arise when starting a business in this strategic location, helping investors make informed decisions and facilitating the incorporation process.

 

Procedures for establishing your company in the free zones in Fujairah

Establishing a company in the free zones in Fujairah requires following a set of organized procedures to ensure that all legal and administrative requirements are met. Here are the basic steps to establish your company in these zones:

1. Select the type of company and business activity: Determine the type of company you wish to establish, such as a limited liability company, a private joint-stock company, or a sole proprietorship. You must also specify the business activity that the company will undertake to ensure that it is consistent with the activities permitted in the free zone.
2. Choosing a company name: Choose a name for your company that complies with the free zone standards, and make sure it is not already in use. You may need to apply for and obtain name approval.
3. Submitting an application for incorporation: Submit an application for incorporation to the relevant free zone authority. The application usually involves completing an incorporation form and submitting the required documents. The application may also include paying the registration fee.
4. Application Review and Verification: The Free Zone Authority reviews your application and submitted documents. Corrections or additional documents may be required before the license is issued.
5. Obtaining a Business License: After your application is approved, you will receive the business license necessary to start operating your company. Make sure you receive all relevant documents and licenses.
6. Setting up the business premises: Prepare the office or commercial space according to the requirements of the free zone. This may require setting up the office, supplying furniture, and arranging basic services.
7. Securing Work and Residence Visas: Apply for work and residence visas for founders and employees, as needed. This process involves submitting additional documents and visa fees.
8. Open a bank account: Open a business bank account for your company at an approved bank. You will need to submit company documents to obtain the account.
9. Starting Business: After completing all the steps and obtaining the necessary licenses, you can start operating your company and start practicing business activities.

Fees for establishing your company in the free zones in Fujairah

Setting up a company in Fujairah free zones usually involves several basic fees, and there is no set-up process that is completely free of fees. However, there are some fees that may vary depending on the type of company and business activity. Here is an overview of the common fees associated with setting up a company in Fujairah free zones:

• Registration and Incorporation Fees: Includes application and company registration fees. These fees may vary depending on the type and size of the company.
• Business License Fees: Fees for issuing a business license for the company. These fees depend on the type of activity and the size required.
• Office Rental Fee: Rent of commercial space or office within the free zone, which is considered part of the establishment cost.
• Additional service fees: include fees for obtaining work and residence visas, trademark registration, and any other services that may be required.
• License Renewal Fees: After establishing the company, you will need to renew the license annually or as per the requirements of the free zone, and this requires paying a renewal fee.
• Bank account opening fees: Some banks may charge fees to open business accounts.

Documents required to establish a company in the Fujairah Free Zone

To set up a company in the Fujairah Free Zone, you will need to submit a set of basic documents. These documents typically include:

• Founders’ Passports: Color copies of passports of all founders and key investors.
• Headshots: Recent headshots of founders and investors. These are often passport-sized photos.
• Letter from the bank: A letter from the bank confirming that the founders have a bank account or confirming the founders’ ability to finance the project.
• Office Lease Contract: A lease contract for an office or commercial space within the free zone, and the contract must be certified by the competent authority.
• Business Plan: A detailed business plan that outlines the company’s activities, business goals, growth strategies, and financial projections.
• Application for Incorporation: The application form for incorporation submitted to the Free Zone Authority, which may include information about the type of company, business activity, and ownership structure.
• Approval from the competent authorities: In some cases, you may need to obtain approvals from the competent authorities if the business activity requires a license or special permits.
• Memorandum and Articles of Association: The memorandum of association that sets out the details of the company such as its name, address, objectives, and management structure. It also requires the company’s articles of association.
• Local Partner Evaluation Report (if applicable): If the company needs a local partner (for certain types of companies), a report must be submitted detailing the local partner and cooperation agreements.
• Work Permit and Residence Visas: Documents related to work permits and visas for founders and employees if required.

Advantages of establishing your company in the free zones in Fujairah

Establishing a company in one of the Fujairah free zones can be an important strategy for many companies. Here are some of the advantages you may benefit from when establishing your company in the Fujairah free zones:

1. 100% Foreign Ownership: Foreign investors are allowed to own their companies 100% without the need for a local partner.
2. Ease of Procedures: Fujairah Free Zones provide fast and easy incorporation procedures for new companies.
3. Advanced Infrastructure: Fujairah Free Zones provide advanced infrastructure that includes modern facilities and integrated services.
4. Customs Facilities: Fujairah Free Zones offer customs benefits such as import and export without customs duties.
5. Tax Incentives: Fujairah free zones feature tax incentives such as no taxes on profits or income.
6. Easy access to regional markets: Fujairah is an ideal base for accessing regional markets such as the Middle East and North Africa.
7. Facilities for foreign workers: Fujairah free zones provide facilities for recruiting qualified foreign workers.
8. Government Support: The UAE government provides significant support to companies in the free zones by providing an encouraging investment environment.

In conclusion, setting up a company in the Fujairah Free Zone is an excellent option for investors looking for a flexible and supportive business environment. The Fujairah Free Zone offers a range of benefits that make it an attractive destination, including full tax exemptions, no customs duties, and easy incorporation procedures. These factors make it an ideal environment for small, medium, and large businesses alike.

Fujairah Free Zone is strategically located between the Middle East and Asian markets, enhancing access to new markets and expanding business. The zone also offers advanced infrastructure including logistics facilities and warehouses, which contribute to improving the efficiency and speed of business operations.

Establishing a company in a free zone requires adherence to a set of basic steps, including submitting the required documents, paying fees, and obtaining the necessary licenses. Cooperating with Itqan Company can greatly contribute to simplifying these procedures and ensuring the company’s compliance with all local laws and regulations.

Investing in the Fujairah Free Zone also offers additional benefits such as ease of obtaining work and residence visas, as well as continuous support from local authorities. This support enhances the chances of success and contributes to sustainable business growth.

The most important frequently asked questions about establishing a company in the Fujairah Free Zone