Every year the UAE attracts many businessman and investors from different countries for starting a business. Suppose you are planning to set up a company in the UAE; in that case, it is essential to know how to operate a business or at least have an awareness related to the country's legal framework.
The UAE is also known for its free zones and how easily one can set up their company due to less legality. The proactive initiative of the Government to support the SMEs and encourage investment is part of the overall drawcard. Regardless, you need 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
Many UAE free trade zones have been helping the UAE 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 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 they should be. This is why business setup in Creative City Fujairah has been an available 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 in your seats. Instead, you can do your work while on the move.
Key Features of Creative Zone Free Zone
Fujairah Culture and Media Authority manage this free zone, 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
The benefits of setting up a business in a creative city freezone are -
- 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 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.
Process of Business Setup in Fujairah Creative Freezone
Here are quick steps on business setup in Fujairah –
- Determine the type of business activity you will be operating in the zone. This decision will ease out the next steps
- Are you a single shareholder or working with a business partner? Will you be employing staff to work in the company? Your answers to these questions are relative to your need to apply for visas. The visas you require also contribute to the overall cost of your business setup.
- Get your documents ready and submit it to the concerned authority to obtain a license
The documents you need for incorporating a company are:
- Passport copy
- Business description
- Company name options
- Your residential address, phone number and email
- Pay fees and incorporate your business
With quick access from the northern emirates and less than 90 minutes from Dubai, Fujairah has become a booming tourist destination. There cannot be enough reasons for you to set up a business in this free zone. If you are sold on the benefits of having a Fujairah Free Zone company setup, 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 friendly advice.