Fujairah free zone or (FFZ) is one of the earliest established free zones of the United Arab Emirates. Its location is in the Fujairah Emirate near the Fujairah Port.
The free zone emphasizes industrial activity that is one of the primary reasons for conducting Fujairah free zone company setup by most investors. It also focuses on the maritime business. A large number of gigantic industrial and mining firms are situated here.
Moreover, it has outlets of all big petroleum firms in the region because of easy-to-reach Fujairah’s port. That has an exit leading straight to the Indian ocean.
Setting up free zone company registration is one of the desirable choices for the businessmen who are planning to run their business in Fujairah Emirate. It has the largest oil storage facility in the GCC region.
Being situated in a tactical position, Fujairah serves as a port that has multiple purposes. It also provides the UAE with a pathway to the Indian Ocean. The Emirate spreads over an area of more than one thousand square kilometers. It also comes in the ranking of the world’s top 3 storage locations. Also, it is a tourism focal point because it has plenty of beautiful beaches. The tourists also visit the Hajar Mountains. The city is planning to create a dynamic metropolitan area that will have a futuristic outlook in 2040. Therefore business persons all over the globe are looking for opportunities in Fujairah free zone company registration.
How to Carry Out Fujairah Free Zone Company Formation
Setting up a business in Fujairah is not that difficult. It will help if you follow some necessary simple steps. Please complete the steps below to set up your business in Fujairah Free Zone.
- You should decide the kind of business activity.
- Create a comprehensive plan for business setup.
- Create your company name and register it with the FFZ authority.
- Keep the funded capital amount inside the bank for a brief time.
- Manage the business setup and licensing requirements.
- Let the shareholders sign the company setup paperwork while the free zone authorities are present.
The above steps will assist you in business formation in UAE.
Perks of Fujairah Free Zone Company Registration
Since FZZ is a free trade zone, it receives the attention of foreign inventors from every part of the globe. The facility has to offer a wide variety of benefits, like:
1. Least Setup Price
The formation of a firm requires plenty of capital. Fujairah free zone company setup proves this fact as wrong. FFZ offers the opportunity of setting up the company at the least amount of price that begins from AED 5,000.
2. Complete Tax Discount
Many business persons consider taxing a disadvantage. It becomes a hindrance in the business setup and growth. Therefore in FFZ, you do not have to pay the tax. That serves as a perk for foreign business persons and exempts them from the extra amount of tax payment.
3. Being Physically Present
Technology is playing a crucial role in this regard as it facilitates the business persons to run a virtual office. Being physically present is not necessary to start a firm in Fujairah. Foreign entrepreneurs do not need the No Objection Certificate for this purpose. For more details on office setup in FFZ, you can contact Fujairah Free zone company formation services.
4. Quick Processing
Because of the convenient application process, completing company documentation and launching a business is possible within seven days in FFZ.
5. Complete Repatriation of Capital and Profits
It is another beneficial factor that provides a margin to foreign entrepreneurs to send back all their investments and profits to their home country during their business period.
6. Several Residency Visas
In FFZ, the investors don’t have to rent a physical office while owning multiple residency visas. They can have 6 UAE visas while maintaining a virtual office after doing Fujairah free zone company registration.
Categories of Business Activities Permitted In Fujairah Free Zone
FFZ appeals to foreign investors and entrepreneurs worldwide because of the international-class and economic facilities offered by the free zone authorities. You can take part in the following types of activities in FFZ.
1. Information Technology Services. You can participate in this activity after carrying out Fujairah free zone company registration because of the outstanding FFZ technological infrastructure.
2. Entertainment and Music
3. Consultancy
4. Publishing
5. Filming/Production/Post-production
6. Media Services and Marketing
7. Broadcasting and management
8. Broadcasting
Why Investors find it Rewarding to Set Up a Company in the Fujairah Free Zone?
FFZ offers the quickest company formation procedure in the UAE.
You can pay the lowest amount of yearly fees in the complete United Arab Emirates.
There are no capital fund requirements.
There are no annual report submission requirements.
You don’t require initial immigration approval.
You don’t require attestation.
There is no need to be personally present for registering the company.
Opening a bank account in Dubai is convenient.
There is no requirement of submitting attested educational certificates.
The FFZ authorities exempt taxes.
Moreover, you can always consult Fujairah Free zone company formation services to understand the FFZ company setup process.