izrar Ulhaq

Member Since March 26, 2020

Hi, I am izrar Ulhaq

If you are looking to start a business in the UAE, then the chances are the country’s free zones are already on your radar. In truth, they are pretty difficult to miss. Offering 0% corporate and personal tax, 100% company ownership, 100% repatriation of capital and profits, no currency restrictions, and 100% import and export tax exemption – well, it’s little wonder they are so popular. And that popularity stacks up to big business – in 2015, UAE free zones were valued at around USD 140bn. That’s over one third of the country’s total non-oil trade. There are over 40 in total, and while they serve up similar headline benefits, each also offers specific and unique advantages. Fujairah Free Zone is located next to the Port of Fujairah. The biggest advantage of the companies, who are registered within fujairah free zone company formation is that they have easy access to all Arabian Gulf ports, the Red Sea, Iran, India and Pakistan. The Fujairah Free Zone company formation has grown rapidly in the two decades since its launch. Located, as the name suggests, in the emirate of Fujairah, it is home to businesses from all over the world – from the Gulf Cooperation Council (GCC) countries as well as Asia, Africa, Europe, and the US. So, if you are sold on the idea of business setup in Fujairah free zones but are still unsure on exactly which one, here are ten benefits to help you decide whether setting up in Fujairah Free Zone Authority is the right option for you. Business setup in Fujairah is ideal for entrepreneurs, small and medium-sized enterprises (SMEs), and multinational companies as it offers economic benefits, including new opportunities for business expansion, affordability, high-end infrastructure, advanced facilities, and convenience. Get multiple visas without committing to an office: Fujairah Free Zone Authority is particularly popular with solo entrepreneurs or those running small businesses. Here’s why: the FFZA flexi-desk option affords entrepreneurs (who do not require a constant physical presence within the UAE) access to business services such as desk space, conference room hire, and reception cover, all on a flexible ad-hoc basis. What’s more, entrepreneurs who choose this package are still able to apply for multiple visas without committing to permanent office space. Fujairah Free Zone Authority is particularly popular with solo entrepreneurs or those running small businesses. Affordable: With a Fujairah Free Zone license, individuals and smaller companies can get the big business advantages of a free zone on a small business budget. Flexi-desk packages start at AED 5,300 for either a Free Zone Enterprise (FZE) or Free Zone Company (FZC), followed by a one-time charge of AED 1,500 for free zone utilities and an annual fee which starts at AED 18,000 (along with costs for resident visa and refundable security deposit). Meanwhile, virtual office packages are cheaper still. Even entrepreneurs who require actual office space find Fujairah to be cost effective, with office rental starting at just AED 20,000. Quick and easy to set up: Along with its affordability, the speed and ease with which entrepreneurs can set up in Fujairah free zone company formation adds to its appeal. License applications can be turned around in just one day. Entrepreneurs are only required to meet with free zone authorities once for around one hour – the rest is taken care of for you. No requirement for a No Objection Certificate (NOC) from local sponsor: Entrepreneurs who are residents in the UAE are not required to provide a No Objection Certificate (NOC) from their current sponsor when completing Fujairah free zone company registration. This makes it a popular choice with new and first-time business owners, or those looking to set up side businesses within the free zone while still employed. A variety of business types available: Perhaps the biggest driving factor behind Fujairah Free Zone Authority’s rapid growth is the wide range of license types and business activities that it allows. It is home to businesses from a broad range of industries including manufacturing, distribution and logistics. The free zone itself issues general trading, service/consultancy, investment, real estate, financial services and even alcohol and tobacco licenses. In order to facilitate these businesses, the free zone makes full use of its proximity to the Port of Fujairah and its vast warehouse space – a factor in many import/export companies selecting it for their business.

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