The Fujairah Free Zone (FFZ) has reached new heights as a lucrative business zone in the past few years, thanks to the latest business reforms that favor investors and business owners. Therefore, the Fujairah free zone business setup is a risk-free venture, and you shouldn’t hesitate to incorporate your company in this region.
Now is the right time to enter the FFZA’s booming economy, and the business consultants at Shuraa help you do the same at nominal costs. We do all the heavy lifting for you to ensure you secure the Fujairah free zone trade license without paying a single penny extra.
What are the Steps to Set Up a Company in Fujairah Free Zone?
Business incorporation in the UAE continues to become easier, thanks to the well-defined procedure and appropriate support from the concerned jurisdiction. Here’s a stepwise breakdown of the overall Fujairah free zone business setup process:
1. Determine your Business Activities
You must first have a business strategy that clearly outlines your company model before you can draft the list of daily business activities. The benefit of establishing a business in Fujairah is that nearly any type of business may be established, ranging from consulting, creative, and media to trade and manufacturing.
However, determining the best business activities for your company might be tricky, especially if you are new to the process. That’s why it’s beneficial to seek the advice of Shuraa’s company formation experts to assist you in making the best selections possible from the beginning.
2. Reserve a Trading Name
The next step is to book a legal trading name for your dream venture in Fujairah free zone. Ensure that the name you choose is indicative of your business activities and not a gimmick of some other existing brand.
Moreover, the chosen business name should be free of any derogatory terms or words that insult a person’s beliefs and sentiments. Any reference to a God is also prohibited. Business owners should note that they’ll need to pay an additional fee for using a foreign trading name.
3. Submit all the Required Documents
It’s mandatory to present all relevant papers requested by the authorities, just as it’s with other government requirements. Keep in mind that certain commercial operations might also need external authorization.
In this situation, simply get in touch with Shuraa’s corporate professionals, and we’ll assist you with every stage of the document completion process. Because the first thing to avoid when it comes to Fujairah free zone business setup is having to go through the lengthy procedure again. As a result, working with Shuraa will save you time, which is your most significant asset.
4. Apply for a Business License
You need to apply for a business license in Fujairah once you have the payment receipt of the trade name reservation alongside other mandatory approvals. All companies in the UAE irrespective of their concerned jurisdiction must apply for a relevant business license to avoid any legal concerns or compliance issues.
Moreover, don’t forget to renew your Fujairah free zone trade license annually to ensure that it’s valid at all times. It’s better to renew the license at least a month prior to its expiration. All you need to do is submit the BR/1 form and make the payment via the issued payment voucher.
5. Manage Visas and Open a Bank Account
It’s imperative to secure visas for yourself and your loved ones to ensure everyone’s safe stay in the Emirates. The best part is that applying for visas in FFZ is straightforward and doesn’t consume much time. You’ll get the required visa permits after the concerned authorities evaluate your application and associated paperwork.
Don’t forget to choose a reliable bank as your business journey partner in Fujairah. The legal advisors at Shuraa help you find the best bank for your business so you can enjoy long-term investment benefits and top-notch banking facilities.
What is the Cost of Opening a Company in the Fujairah Free Zone?
Your business activities and allowances play a critical role in deciding the company formation costs in Fujairah. The jurisdiction in this business zone is very supportive and offers several benefits to help you establish your company at affordable costs.
Therefore, you can expect a figure of around AED 22,500 as the standard business setup cost in FFZA. Note that this figure will continue to increase with the addition of other business activities and visa applications. Businesses that require exclusive privileges to function in Fujairah can expect set-up costs of around AED 60,000.
What are the Benefits of Forming your Company in Fujairah?
Listed below are a few of the many benefits that business owners can enjoy after setting up their dream venture in FFZ:
1. Fujairah has a strategic business location that gives you access to the local and international markets via land, air, and sea. You also get hassle-free access to the Fujairah Port and Fujairah International Airport.
2. There aren’t any hidden costs involved in the FFZA business setup. The process is entirely transparent and you’ll be educated about every payment that you make in this business zone for your company’s establishment.
3. You have the opportunity to earn more revenue as you aren’t liable to pay any personal or corporate taxes in Fujairah. Moreover, you can repatriate 100% of your profits, and you also enjoy complete exemption from customs duties.
What Documentation Goes Into Launching a New Business in Fujairah Free Zone?
Here’s a curated list of documents you must submit to the concerned governing authority for successful business incorporation in FFZA:
- Certified passport copies of each partner alongside UAE visa entry stamp
- Proof of address (2 copies)
- Bank reference letter
- A compelling business plan with all the investment details
- Notarized Memorandum & Articles of Association
- CV of the business license applicant
Launch your Fujairah Free Zone Company Today!
Your decision to launch a company in Fujairah is the right one, thanks to the overwhelming benefits of setting up your business in this region. Your next step is to connect with Shuraa Business Setup, and we’ll guide you throughout the company incorporation process. Be it licensing, external approvals, banking, or anything else – we handle it all.
Get in touch with our Fujairah free zone trade license experts who’ve already helped thousands of businesses establish their companies in FFZA. You can book a free consultation with us at +971 44081900 or drop a WhatsApp message on +971 507775554. For assistance via email, please write to us at [email protected]