6 Easy Steps to Start Your Dream Venture in Fujairah

by commitbizadmin 14, Jan 2020

6 Easy Steps to Start Your Dream Venture in Fujairah

Starting a business in the UAE is a promising option for every entrepreneur. Each emirate of the UAE provides pro-business environment for its investors. One such Emirate is Fujairah. Located along the Gulf of Oman, Fujairah is a less populated state of the United Arab Emirates. It is the only city on the east coast of the UAE and offers some of the most contemporary technologies for companies and highest living standards for its citizens.

Business setup in Fujairah is ideal for small and medium enterprises, entrepreneurs, and multinational companies as its offers economic benefits, including new opportunities for business expansion, affordability, high-end infrastructure, advanced facilities, and convenience. The Emirate is an attractive location for company formation as it has constantly been developing for the last decade and guaranteed a comfortable operation for companies within the Emirates territory, attracting local and foreign nationals to invest in the local economy.

How to Register a Business in Fujairah?

The steps to register your business in Fujairah are quite simple and straight-forward. The Fujairah Municipality handles the business registration process in mainland and free zones.

The steps to start a company in Fujairah are:

1. Select Your Jurisdiction

The first thing you need to do decide on the location. Whether you want to start your business in Fujairah Mainland or Fujairah Free Zone. It is mandatory to appoint a local sponsor if you choose mainland. There is no compulsion for the same in the free zone.

2. Select a Business Form

There are many corporate entities to choose from id you decide to form a business in Fujairah. Some of them are:

  • General Partnership
  • Partnership-en-Commendam
  • Public Shareholding Company
  • Private Shareholding Company
  • Limited Liability Company
  • Joint Venture
  • Professional Companies
  • Sole Proprietorship

3. Select a Business Activity

This step is important as without deciding on business activity; you cannot get a license. Moreover, without acquiring a license you cannot start a business in Fujairah. The Emirates provides the entrepreneurs with many business license options like:

  • General Trading License
  • Trading/Commercial License
  • Service License
  • Industrial License
  • Warehousing License
  • Manufacturing License

4. Register a Trade Name

The next important step is to register a trading name with the Fujairah Municipality. The trade name must not be similar to the name of any established business in the Emirates. Once you register your trade name, the main registration starts.

5. Application and Documents

Get an initial approval for registering your company with the Authorities. Once you get the approval, fill in an application form, submit required documents, draft a memorandum and articles of association, get the documents and MoA notarized and attested and submit it to the Municipality.

6. Obtain License and Certificate

Once you get the approval of business registration, the authorities will provide you with Certificate of Incorporation and Business License.

Documents Required

  • A valid business license
  • A resolution from the Board of the Company
  • Attested Memorandum of Association
  • An Article of Association from the Embassy
  • Business plan
  • Passport-sized photographs
  • Passport copy of the investor and shareholders
  • Suggested name for the business or organization
  • A deposited mandatory capital amount in the bank
  • Personal information of shareholders and investors

Advantages of Business Incorporation in Fujairah

Fujairah has a remarkable combination of heritage, culture, history, and amazing wonders of nature which has encouraged the influx of investors. They are fascinated by the Emirate’s natural charm and wealth, which has enabled it to be the goal of every investor and researcher of a secured investment climate. This effort has brought a great impact on the emergence of many prominent projects recently. Here are a few advantages of business setup in Fujairah.

  • Geographically strategic location
  • Fujairah has liberal economic policies and legal framework
  • Opportunity for investment in the tourism sector
  • The procedures for staffing and recruitment in Fujairah are simple

Should you decide to set your business in this free zone, then we at Commitbiz can support you with it. Our advisors have years of experience in this field and can make the process hassle-free. Contact us today – we’d be glad to assist you.