How do I start a Fujairah Company Setup in UAE?

Fujairah is a tiny Emirate but has a long coastline and is strategically located on one of the world’s most important shipping routes. Fujairah is also known for its mountains and tourism and its oil industry, which can be both onshore and offshore. This emirate is also home to several free zones, including the Fujairah Free Zone and the Fujairah Creative City. Those offer attractive packages to international investors looking for Fujairah Company Setup.

This emirate is considered one of the most beautiful and prosperous cities. It has a stunning landscape, unique culture, and warm hospitality, making it ideal for business setup. Moreover, it is also known as a significant trading hub because of its proximity to seaports, airports, and railways. Therefore, if you want to set up your company in UAE, Fujairah is an ideal location for you. This article will discuss setting up a company in Fujairah and why you should consider doing so.

Benefits of the company set up in Fujairah

Fujairah has attracted a lot of investors over the past few years as it offers many benefits to business owners. By creating a company in the UAE, you can start your business activity and make it flourish. This can done by either opening a branch in one of the free zones or onshore by setting up a limited liability company. Advantageous for several reasons:

• Lower costs for renting office space

Registering a business with the Fujairah Freezone Authority implies that you will have to rent an office space. However, this can do at lower rates than in other emirates. Furthermore, if you want to benefit from even more attractive prices, you can opt for a virtual office. This allows entrepreneurs to conduct their activities anywhere they want while still having an address registered with the local authorities.

• No corporate tax

Fujairah is one of the few emirates in the UAE where businesses do not need to pay corporate tax. When you set up your business in any part of world. You required to pay some amount of corporate tax on profits earned by your company. However, when you set up your company in Fujairah. You will not be required to pay any corporate tax at certain limit.

• Proximity to Dubai & Abu Dhabi

Fujairah has its geographical advantage as it located near Dubai and Abu Dhabi. These are two major cities in the UAE and the most significant economic hubs. Businesses operating in Fujairah can easily access these two cities, which offer numerous opportunities to grow your business. The firm set up in Fujairah comes with easy access to shipping lanes and ports. That helps companies to transport their goods easily without any hassle. Efficient infrastructure, including access to modern ports, airports, and industrial facilities

• 100% foreign ownership

Foreigners can own 100% shares in their company in Fujairah as long as they obtain a license for their business and meet all other requirements. Also, this eliminates the need for local sponsorship, which required for setting up businesses in other emirates.

Documents Required for start a Company in Fujairah

• A resolution from the Board of the Company
• MOA
• Business plan
• Passport-sized photographs
• Passport of investor & shareholders
• A valid business license
• A deposited capital amount
• Personal information of shareholders and investors

Business License for Fujairah Company Setup

• Trade License

Firstly, Trade licenses issued for trading activities. These licenses can used for various trading activities such as importing, exporting, distributing, storing, and selling goods in the Emirate.

• Service License

The service license is the most popular type of business license in Fujairah. That covers the majority of businesses and industries & is suitable for any activities ranging from trading & consulting. The service license allows you to be an agent or a branch office for other companies. As long as you’re main activity is set to service.

• Industrial License

Most importantly, an industrial license required to carry out any industrial activity or manufacturing. This type of license needed for all companies involved in the manufacturing, assembling, and processing products. Licenses issued under this category can used for any purpose, provided the activity relates to industrial action or manufacturing.

Process of Fujairah Free Zone company setup

The steps involved in the process of creating a business in the Fujairah Company Setup are as follows:

• Decide on your business activity

First and foremost, you will need to select your business activity from the list of permitted activities in the Fujairah Free Zone. You can either opt for a trading license or a service license.

• Select your company name

Once you decide on your proposed activity, you required to select a suitable name for your company. The title should not be similar to any other existing companies and should not contain profanity or indecency. The authorities will verify the availability of the chosen name and only then will allow its registration.

• prepare your documents

After above steps you have to prepare the documents. You’ll also have to give a copy of your passport, proof of address, and a professional photo. Fujairah Free Zone will review your documents to determine whether you meet their licensing requirements. Once the documentation is complete and approved, you can submit it for registration at Fujairah Free Zone.

• Consult an expert

The SPC Company Setup process complicated and requires careful planning by expert professionals who have prior knowledge about the different requirements and criteria. It is ideal to contact a business setup expert like Start Any Business UAE before you begin the procedure total plan out your strategy accordingly. The Start Any Business UAE is the perfect solution for growing businesses in the United Arab Emirates. We are a team of highly skilled and professional experts who help our clients in every stage of their business setup process, from planning to execution. Our services include providing information about the different types of licenses required, submitting applications, obtaining local authorities’ approval, and much more.

Thus, Start Any Business UAE offers customized services to help the clients set up their business operations in the Fujairah. We provide comprehensive solutions for all your company formation, licensing, and trade license renewal requirements in Fujairah. In conclusion, we are a one-stop solution to help you establish your company quickly by providing a wide range of business services.

Source : postpear