Every year the UAE attracts a large number of businessman and investors from different countries for starting a business. If you planning to set up a company in the UAE then it is important to know the guidelines on how to operate a business or at least have an awareness related to the legal framework of the country.
The UAE is also known for its free zones and how easily one can setup their company due to less legality. The proactive initiative of the Government to support the SMEs and to encourage investment is part of the overall drawcard. Regardless, it is important for you to know the best practice and options for starting a company. Among all the free zones in the UAE, this article is dedicated to Fujairah Creative City free zone.
About Fujairah Creative City Free Zone
There are a lot of UAE free trade zones that have been helping the UAE to have its economy soar even more. In 2007, Fujairah Creative City Free Zone or Fujairah creative free zone, which is also near to Fujairah Sea Port, was launched adding to the media hubs in the United Arab Emirates (UAE), which includes Dubai Media City and twofour54. This free zone has an environment specifically for the business owners who fall under the category of media, events, consulting, education, communication, marketing, music, and entertainment. It is made to facilitate all media areas to ensure the needs they require are met exactly as how they should be. This is why business setup in Creative City Fujairah has been a known place to carry out a business setup in UAE.
And what makes the Creative City Fujairah different from all the other free zones is its exclusive Flexi desk / virtual office service, which gives the people the freedom of mobility. Using this you don’t have to be on your seats, instead, you can do your work while on the move.
Key Features of Fujairah Creative City Free Zone
This free zone is managed by Fujairah Culture and Media Authority and it includes the following features:
- Physical presence in the UAE is not required to incorporate your new company
- No paid-up share capital or annual audit required
- All company documentation can be issued in a matter of days
- Allocation of seven UAE residency visas without the need for physical office space
Benefits of Setting Up Your Business in Fujairah Creative City
- 100% foreign ownership
- Fast releasing of trade license
- Allocation of five UAE residency visas
- Currently, there is no law enforcing the recruitment of the UAE nationals
- 100% repatriation of capital and profits
- No No-Objection Certificate (NOC) required
- No annual audit needs to be submitted
- Strategic geographical location
- 100% personal and corporate income tax exemption
Types of Licenses Available in Fujairah Creative City
The various types of Fujairah free zone license are:
- Management of Broadcasting
- Marketing and Media Services
- Music and Entertainment
- Information Technology Services
Business Activities Allowed in Fujairah Creative Free Zone
Before going forward with your decision to have a business in Creative City, it is imperative to be aware of the business activities that are allowed in the free zone. Below is the list of the activities (and more) that the free zone is allowing:
- Audio and Visual
- Business Communication
- Photography and Videography
- Publishing and Video services
- IT and Public Relations
- Production and Event Management
- Lifestyle Consultancy
- Software Development Management
- Interior Design
A license in Fujairah Creative Zone will be issued within seven days enabling the holder to apply for a company bank account. The Free Zone automatically applies for an Immigration Card, which takes between 10 to 15 working days. When this has been issued, the holder can apply for a UAE residency visa.
With quick access from the northern emirates and less than 90 minutes from Dubai, Fujairah has become a booming tourist destination as well. There cannot be enough reasons for you to set up a business in this free zone. If you are sold on the benefits to have a Fujairah Free Zone company setup then what next? You might as well require a consultant who knows and is well versed with the framework on establishing a business in a free zone. We at Commitbiz are here to help you through the process ultimately ensuring that the entire process requires little more than a few hours of your time. Contact us today, even if it’s for a friendly advice.