Fujairah Free Zone is a small northern emirate with ample opportunities for businessmen. It combines the main sea routes, communication with ports and airports, as well as optimized legal procedures. There are many enterprises of heavy industry, mining and branches of the largest oil companies located on the territory.
The main goal of the zone is to provide investors with a triple advantage: accessibility, connectivity and cost–effectiveness. Thanks to the state policy, the region is considered tax–free – it exempts firms from duties on the import/export of raw materials, equipment for production purposes and finished goods.
About Fujairah Free Zone (FFZ)
FFZ has been operating for more than 20 years. It is the second largest container terminal after Dubai. It is also considered the largest bunkering and export port of crude oil and petroleum products in the world.
The Free Economic Zone (FEZ) is localized near the port of Fujairah. Every company that is based in this territory has access to the ports of the Persian Gulf, the Red Sea, India, Pakistan. Mainline flights arrive in the region every week from different countries, for example, Northern Europe, the Far East, and also depart twice a week to the Far East.
Near FFZ there is an international airport – the only one that serves the eastern coast of the Arab Emirates and the north of Oman. Due to the favorable geography to the sea routes, the presence of a port and an airport, the free zone is recognized as an ideal place for doing business.
In addition, the benefit for investors lies in a fast transaction, which is provided by shorter delivery times.
- The availability of neighboring and international markets is an opportunity for business growth and development.
- A large selection of investments and economically efficient alternatives for building your business.
- A profitable policy for investors.
- Capital guarantee.
A special feature of this FEZ is a business club. When it opens, it becomes possible to hold a live event, exhibition, seminar or show.
Company registration in FFZ
Registered firms have access to import, export and re-export of goods. Prices for starting a business in Fujairah are several times lower compared to Dubai. The FEZ is suitable for those who plan to reduce operating costs in the Emirates. Office premises, warehouses and land plots are available for rent here.
- Completely foreign property.
- No taxes.
- Share capital – 150 000 AED.
- The current license period is 1 year with the possibility of extension (before expiration in order to avoid fines).
- Mandatory provision of annual audit reports.
Licenses are available for investors in the following categories:
- Trading/General trading.
- National Industrial.
What documents are needed to create a company
The list of documents will depend on the type of company being created. All documents must be notarized by a notary and the Embassy of the Emirates.
For branches/subsidiaries, you will need:
- The decision of the board of the main company.
- The registration document.
- Power of attorney of the authorized representative.
- Memorandum of articles.
- Current operational authorization of the main corporation/equivalent document.
- Certificate/document with information about the ultimate beneficiary (natural person of the main company).
- A photocopy of the last audit of the main company.
- Photocopy of passports of directors, shareholders with 2 photos.
- Application and registration form.
- Good Standing Certificate. It is issued by the registrar of the main company.
- A copy of the passport.
- 2 photos of good quality.
- NOC, if there is a resident visa.
- A questionnaire with completed data.
On the territory of the FEZ, business operations management is available from a virtual office. The price depends on the terms of payment. At least for a year you will have to pay 15,000 AED. Interested parties are also required to pay for utilities in the amount of 1200 (at a time) and 5000 AED – a refundable deposit.
For those who are thinking of starting small, there are flexible tables. Their cost is 18,000 per year, and utilities will cost 1600 AED. Those who need a residence visa can pay 3,600, but the deposit in this case will be 10,000 AED.
On the territory of Fujairah there are retail offices both with and without furniture. The area of modern air-conditioned rooms is at least 20 sq.m. This option is ideal for those who seek to expand their activities.
The cost of renting these offices starts from 20 000 dirhams. Those wishing to obtain a general trade type permit will have to pay 10,000 dirhams for it.
Utility bills will come out 2850, and registration fees – 5300 dirhams. The cost of a valid residence visa will cost 3,600, and the deposit will cost 1,500 dirhams.
The area of highly insulated warehouses is 500 square meters. Here you can handle cargo, telephone, fax lines. Warehouse rental – from 230 dirhams per square meter.
To obtain a license, you need to pay a fee of 5000 dirhams. Utilities will cost 3800, visa – 3400, deposit – 15,000 dirhams.
The free zone provides an opportunity to rent open land plots for the development of your project for a long time. Plots from 20 square meters are available. Obtaining a license – 5000, a resident visa – for 3460 dirhams.
Warehouses for production
Production warehouses can be used for loading, unloading, cargo handling. There are parking spaces and dedicated telephone and fax lines. The premises are equipped according to the requirements of investors and their production activities. The rental price is 230 AED per sq.m., and you can buy a permit for 5000 AED.
On the territory of Fujairah Free Zone, you can use the following services for business:
- timely issuance of licenses and NOC certificates;
- auto registration;
- notarization of legal documentation and entry permits;
- obtaining resident visas, transit, guest visas for employees and investors;
- recruitment of personnel of any level;
- obtaining a port pass.