Getting known to Fujairah
Fujairah is the only UAE member among the Emirates that is located along with the coastline of the Gulf of Oman, and therefore, has distinct benefits as compared to the other members of Emirates.
The major cities like Abu Dhabi, Sharjah and Dubai of UAE are very well-connected to Fujairah, which makes it an ideal commercial hub of the Middle East region.
The business activities in Fujairah have grown rapidly in the last two decades. The investors from Africa, Europe, West Asia, China, India and Gulf Co-operation Countries (GCC) have invested in activities like manufacturing, trading, processing, assembling, storage and logistics and services like accounting and auditing, legal consultancy, media and entertainment, and publishing.
The use of modern technology, state of the art infrastructure, and world-class amenities to cope with the international business environment has made it the first choice of the investors to set up business in Fujairah free zone
Company Formation in UAE Free Zone – Fujairah
Fujairah is the fifth largest Emirate among UAE members and constitutes around 1.5% of the land area of UAE. Fujairah is the youngest among the seven members of UAE.
The Fujairah free zone was developed to attract foreign investments in the country, so that the economy can become less dependent on oil export and a new economy based on various industries can be formed.
Fujairah Free Zone makes certain that the entrepreneurs can hold the business operations comfortably in the zone. Today, investors from around the world desire to set up a company in Fujairah.
Advantages of Setting up a Business in Fujairah Free Zone
- Gateway to other business markets
- Strategic location
- Modern and advanced communication system
- Procedure for hiring expatriates are simple
- The policies of the state allow full repatriation of capital as well as profits
- Fujairah free zone offers 100% foreign ownership
- The import/export duties are fully exempted
- Investment opportunities in the tourism sector
- A worldwide business centre-point
- The free zone has laissez-faire economic policies and lawful structure
Business Entities in Fujairah
The decree formed the Federal Government states that business companies in the U.A.E must be registered under any of the following legal forms:
- Sole Proprietorship: An entrepreneur is allowed to set up a company to undertake corporate activities without a local/regional partner.
- Limited Liability Company: A free zone LLC can be registered by a minimum of two persons as a shareholder who has limited liability up to the extent of his shares capital.
- General Partnership Company: In this business structure two or more partners come in the venture to form a business and are accountable separately for all the business liabilities.
- Professional Company: A professional entity is majorly confined to the service providing industry. Activities like legal consultancy, auditing, etc. come under this section.
- Joint Venture: A joint venture is quite similar to that of a partnership company where two or more partners write a contract and agree to share losses and profits equally or depending upon the share capital ratio.
- Public Shareholding Company: Generally referred to as a public joint-stock company (PJSC)
- Private Shareholding Company: It is formed by not less than three people. A private shareholding company cannot go for public subscription.
Business Licenses Issued in Fujairah
To form a company in Fujairah, a proper business license is needed. Obtaining the licenses is a matter of a day or two. The licenses are issued in the following categories
- General Trading License
- Trading/Commercial License
- Service License
- Industrial License
- Warehousing License
- Manufacturing License
The Municipal Authorities have the power to issue the license of the business activities in the Fujairah free zone. However, there are certain activities which require approval from the relevant Government Department
How to Start a Company in UAE – Fujairah?
There are certain steps one needs to follow to register the business in Fujairah Emirate.
- Identifying business activity,
- Registration of company name
- Submission of required documents to related authorities
- Opening the bank account in company’s the name
- The application of visas, if required
Our Business Set up Consultancy Services in Fujairah
PMC Solutions DMCC can help you in Fujairah Free Zone business set up by providing its expert services in
- Fujairah Free Zone Company registration
- Local sponsorship
- Accounting and Auditing
- Tax consulting
- VAT registration
- Legal advisory
- Setting up a branch office
Why choose PMC Solutions DMCC?
PMC Solutions DMCC helps entrepreneurs in Fujairah free zone company registration. Our experts assist the Clients in the banking formalities, visa application, and licensing formalities, abiding the UAE laws. We guide the investor throughout the company formation process.