Entirely located on the Gulf of Oman solely. Fujairah is distinctive from other six emirates in the fact its terrain is almost completely mountainous. Freezone company setup cost might vary across the UAE. However, all the other emirates are following the blooming economies and their outcomes inspired by the successes of Dubai and Abu Dhabi. Fujairah free zone is located around the Jebel Ali port. Although a foreign mainland company owner in Fujairah is limited to 49% of its shares, Fujairah freezone company setup cost is moderate, compared to similar free zones around the world and in even in the UAE. In addition to offering an investor the benefit of 100% ownership.
Top 3 reasons why Fujairah is the most favored!
The proximity of Freezone of Fujairah is perfect for businesses. The zone avails to its investors the access to gulf ports, India, Pakistan, Iran and red sea through port of Fujairah, and the only airport in the entire east coast area, Fujairah international airport. The state of the art services guarantee the access to Europe, Africa and North America with a possibility to access the rest of the world hassle-free.
The unmatched economy tariffs make it the number one choice for startups, small and medium sized businesses. State policies permit full repatriation of profit and capital making it economic. Moreover, Low infrastructure establishment rates, and low labor per head cost makes the ideal starting point for great results and safe investment. Nevertheless, the zone caters cost-effective investment facilities that suit all business requirements.
Benefits of setting up business in Fujairah:
- 100% foreign capital and profit repatriation
- 100% tax exemption
- 100% efficiency single window clearance
- Seaport and airport common customer duty facility
- Restriction-free recruitment
- Modern Infrastructure and real estate with benefits
- Virtual office with a one-time setup fee, minimum annual capital requirement and refundable security deposit
- Fujairah located company branch operation without being physically present
- No lower limit on number of shareholders (except for FZC which is 2)
- Freedom to choose from trading license, general trading, professional/service license, industrial license, and national industrial license.
Regulations of getting an initial approval:
- Accordingly completed questionnaire from freezone authority
- Certificate of registration from parent company (if required)
- Legalized certificate indicating board of directors and managing director
- Project planning document and feasibility report
- Application for utilities required for water, electricity and other amenities
- Manufacturing units require environment clearance submitting project report with a detailed process
These documents are sufficient for obtaining an initial approval, after that a complete set of documentation has to be submitted to the executive committee of the Fujairah chamber of to receive a final approval. Documentation requirements differ based on the business activity and the license, which is the matter of interest. However, general requirements are:
Required Documents (incase for individual)
- Passport Copy (scanned, clear and high quality)
- 2 Photos (clear and recent)
- NOC (None Objection Certificate) for UAE residency Visa holders
- Filled Application Form.
IBG has the most modernized and equipped team setting a new bar for excellence. IBG sets the benchmark for future investors, and the persisting ambitious business owners to succeed and reach the top. Get in touch with the best freezone business consultants in the market for the right consultancy today. Know more and be ready, the future is here and IBG is all you need!