Administered by the Fujairah Free Zone Authority (FFZA), the Fujairah Free Zone (FFZ) is a special economic zone which is located in the Fujairah region. Companies that are set up in this Free Zone enjoy numerous benefits including zero corporate taxes, 100% repatriation of capital and profits, exemption from import and export duties, provision of state-of-the-art facilities, and easy access to regional markets. Similar to the process to register company in Dubai, Fujairah free zone company registration is a relatively simple procedure that can be completed by following the steps below.
Steps to Fujairah free zone company registration:
#1 Ensure the type of business activity undertaken is allowed in Fujairah Free Zone
- Every Free Zone in the UAE has a business activity list that restricts the types of activities allowed in the Free Zone. The Fujairah Free Zone free zone activity list includes business activities in the broadcasting and media services, marketing, publishing, advertising, entertainment and music, events management, consultancy, filming, information technology services, business administration, finance, and service sectors. While the sectors allowed in the Fujairah Free Zone include most of the possible types of industry, it is still important to conduct a quick check before you set up your company in the Free Zone.
#2 Check for availability of company name
- Once you have verified that your business activity can be undertaken in the Fujairah Free Zone, you will want to decide on the name of your company. Besides the typical requirement of a unique trade name, there are several other restrictions to trade names in the UAE. For example, business owners are not allowed to use the names of cities in the UAE or ‘UAE’ in the name of their companies. Any trade name that begins with ‘International’, ‘Global’ or ‘Middle East’ is not allowed.
- To check for the availability of your desired company name, you can do a quick trade name search on the Department of Economic Development – Abu Dhabi website. Reservation of your company name can be done through the Fujairah Free Zone authority.
#3 Register for a company with the Fujairah Free Zone Authority
- The documents required to register a Free Zone company include the Board Resolution for the establishment of a new company, passport copies of officeholders, Memorandum and Articles of Association of the company, capital contribution certificate issued by a local bank, and feasibility report for business activities conducted in the Free Zone.
#4 Apply for the relevant trade license
Based on the type of business activity your company undertakes, there are different types of licenses that you can apply for.
- Trading License (Normal): This trading license allows companies to freely import and export commodities within the Free Zone and outside the UAE.
- General Trading License: This trading license allows companies to freely import, export and re-export FFZA specified products. The sale of specific commodities within the Free Zone is also allowed.
- Professional Service License: This license allows companies to provide professional services such as Fujairah company setup services.
- Industrial License: This license is required for companies setting up an industrial unit in the Fujairah Free Zone.
- Manufacturing License: This license is required for companies setting up manufacturing plants and undertaking manufacturing activities.
- Warehousing License: This license is required for companies to rent a warehouse to store and distribute goods.
Additionally, special licenses will be required if companies engage in business activities related to petrochemical, finance, and education.
#5 Open a corporate bank account
- While the documents required will vary slightly depending on the bank, most banks will require companies to submit a resolution from the Board of Directors authorizing the opening of a bank account, a copy of the business license, a copy of the Memorandum of Association and Articles of Association, personal information of shareholders and business partners and the company’s business plan. Once you have opened your corporate bank account, your Free Zone company is ready to start operation.
Looking to set up your company in the UAE?
Although there are many benefits to setting up a company in the Fujairah Free Zone, it is still more beneficial to set up company in Dubai instead. This is because Dubai is the heart of trading and commercial activities in the United Arab Emirates (UAE). Many of the Free Zones in Dubai are internationally recognised and provide more well-developed infrastructures and communication networks for companies. As such, Tetra Consultants will recommend business owners to register company in Dubai instead.
Tetra Consultants provide you with a fast and easy way to complete your Dubai company registration through our service package which includes offshore company registration in Dubai with the Registrar of Companies, provision of a registered agent and a registered address, opening of a corporate bank account and annual accounting and tax services. Our team will also negotiate with the banks in the UAE to conduct a conference call instead of a physical meeting for the opening of the corporate bank account. If travel is required, Tetra Consultants will send a representative to accompany you to the bank meeting.
Contact us to find out more about Fujairah free zone company registration process in Dubai. Our team of experts will revert within the next 24 hours.