Fujairah is a strategic location, serving as a multipurpose port and the UAE’s only access to the Indian Ocean. Also, it is a tourism hub because of the Hajar Mountains and beaches. With all the advancements in Fujairah, it is heading towards becoming a modern, industrious city, focusing on Fujairah 2040.
The Emirati of Fujairah covers about 1.5% of the UAE and is one of the fifth largest in the Emirate. The Fujairah free trade zone was established to make it easier for foreign companies to conduct business comfortably within the Emirate. Investors and businesspeople from all over the world say they would like to establish a company in Fujairah.
With all the cities such as Abu Dhabi, Dubai, Ajman, etc., Fujairah has also taken a step ahead and come up with the Fujairah Free Zone, established in 2005, to develop the Emirate as an investment hub. It believes in the motto ACE – Accessibility, Connectivity, and Economy.
Fujairah Free Zone Company Types
Fujairah International Airport, FFZA, offers expansive opportunities for different businesses. As we know, Fujairah serves as a free zone. Here is a list of companies –
- Branch of UAE company
- Free Zone Company (FZC)
- Free Zone Establishment (FZE)
- Branch of a Foreign Company (including offshore)
What are the Advantages of Setting Up a Business in a Free Zone?
Before 1984, Fujairah complied with the regulations set forth by the UAE for the conduct of foreign corporate entities operating inside the Emirate. Federal Law No. 8 of 1984, the “Commercial Companies Law,” was amended in 1984 by Federal Law No. 13 of 1988, and its bylaws were distributed. According to the law, businesses must be owned entirely by UAE nationals or have at least 51% of their share capital owned by nationals, with investors able to own the remaining 49%.
There are several advantages to setting up a business in a free zone –
- 100% foreign ownership
- 100% repatriation of capital and profits
- Opportunities to invest in the tourism sector
- 100% corporate and personal income tax exemptions
- State policies offer full repatriation of profits and legal framework.
- Fujairah also support sponsorship and visas for an affordable, skilled workforce
- Exemption for all import and export duties. However, it is prohibited to export goods to the Mainland.
Business Licence Offered in Fujairah
General Trading Licence
Since it permits investors to trade in a wide range of items, a general trading license is slightly more expensive than other licenses. It allows the free import, export, and reexport of particular goods into and out of the United Arab Emirates. Maintaining hassle-free operations in a free zone also enables investors to take advantage of specific licence for local distribution from pertinent Government departments.
Service Licence
A service license is given to businesses that provide services, such as accounting firms, legal practices, solo practitioners, and business consultants.
Industrial Licence
An industrial license enables the bearer to import raw materials, produce certain goods, and export completed goods to any nation.
Trading/Commercial Licence
Obtaining a Trading/Commercial License in a Dubai Free Zone offers businesses a gateway to streamlined operations and access to a dynamic market. This license enables companies to trade within the designated free zone, benefiting from tax incentives, 100% foreign ownership, and simplified import-export procedures. It’s a pivotal step for enterprises seeking to establish a robust presence in the region’s flourishing economy.
Warehousing Licence
Investors can lease warehouse space and utilize it for product distribution, packaging, and storage if they have a warehousing license.
Manufacturing Licence
A manufacturing license can be obtained once a project has been approved by a free zone authority, put into action, and fully insured for both machinery and human resources.
Set Up Your Business in the Fujairah Free Zone with AIMS UAE
Set up your business effortlessly in the Fujairah Free Zone with AIMS UAE. Our expert team navigates the complexities of company formation, ensuring a seamless process from start to finish. Benefit from a strategic location, state-of-the-art infrastructure, and a business-friendly environment conducive to growth. Whether you’re a startup or a seasoned entrepreneur, we tailor solutions to your needs, offering comprehensive services, including licensing, visa processing, and corporate support. Partner with AIMS UAE for a hassle-free experience and unlock the potential of your business in one of the UAE’s most promising economic zones.
Frequently Asked Question
The process involves:
- Submitting required documents.
- Selecting the appropriate license type.
- Finalizing lease agreements.
- Obtaining approvals.
- Completing registration procedures with relevant authorities facilitated by experienced consultants.
