Fujairah Free Zone Authority (FFZA)
Fujairah Free Zone Authority (FFZA) Company Setup
The fifth biggest of the seven emirates of UAE is Fujairah with a shoreline solely on the Gulf of Oman. Fujairah is home to two free zones: Fujairah Creative City and Fujairah Free Zone Authority. In comparison to the Dubai Free Zones, both sell license forms and are extremely lucrative. This is an intriguing option, particularly for new companies and consultants who don’t need a traditional office room.
Fujairah Free zone is next to the Fujairah Port and the Fujairah International Airport. Fujairah Free zone focuses on trading units, distribution firms, service suppliers, and distributors. Fujairah Free Zone is the ideal home for almost all business organizations, young or old due to its strategic business position in the UAE, convenient airport and sea port connectivity, excellent operational connections across oceans, and hassle-free setup procedures. The Free Zone was created to provide companies with three benefits: mobility (customized services), accessibility (access to international markets through land, sea, and air), and economy (low start-up and overhead costs).
Business benefits Of Fujairah Free Zone (FFZA)
1. 100% Foreign Ownership Permitted
2. 100% Individual and Corporate Income Tax Waiver
3. Get several visas without subscribing to an office - The Fujairah Free Zone Authority is especially known among solo entrepreneurs and small business owners. The FFZA flexi-desk solution gives entrepreneurs (who don't need a permanent physical position in the UAE) access to business facilities including desk space, meeting room hire, and reception cover on an as-needed basis. Furthermore, entrepreneurs who choose this kit can apply for several visas without committing to a permanent office space.
4. Affordability - With a Fujairah Free Zone licence, small and medium sized businesses can reap the benefits of a freezone on a small business budget. Flexi-desk packages begin at AED 5,300 for either a Free Zone Enterprise (FZE) or a Free Zone Company (FZC), with just a one-time payment of AED 1,500 for free zone facilities and an annual fee beginning at AED 18,000 (along with costs for resident visa and refundable security deposit). Meanwhile, virtual office services are becoming much more affordable. And entrepreneurs in need of traditional office space find Fujairah to be economically viable, with office leases beginning at AED 20,000.
5. Quick and easy to set up: Together with its accessibility, the velocity and simplicity with which start-ups can establish themselves in Fujairah Free Zone Authority contributes to its appeal. Licence approvals can be processed in a single day. Start-ups only need to meet with free zone officials once for about an hour – the rest is handled for them.
6. There are numerous company types available: The vast variety of licence forms and business practices permitted by the Fujairah Free Zone Authority is the most important driving force behind the authority's rapid development. Companies from a variety of sectors, including manufacturing, storage, and logistics, call it home. Public trade, service/consultancy, investment, real estate, investment banking, and even alcohol and tobacco licenses are issued by the free zone itself.
7. Import or export duties of 0%
8. Simple implementation: Fujairah Free Zone Authority is the perfect home for innovators who break into a cold sweat at the thought of rising documentation – and let’s face it, who doesn’t. There is no provision for book - keeping or an annual report, in terms of not having to bring up any share capital (except when registering a FZE or FZC).
9. There is no minimum capital requirement, and annual audit reports are not required.
10. Full investment protection
11. Wide range of investment fields
12. Policies that are beneficial to investors
13. Fujairah Port and Fujairah International Airport have land, sea, and air links to the rest of the world.
14. Investing methods that are efficient and cost-effective
Legal entities under Fujairah Free Zone Authority
• Branch of a foreign company, including the offshore company.
• Branch of a UAE company.
• Free zone establishment.
• Free zone company.
Types of Licenses in Fujairah Free Zone
Fujairah Free Zone (FFZ) is managed by the Fujairah Free Zone Authority. It provides the following license types:
• General Trading and Trading License;
• Manufacturing License;
• Warehousing License;
• Consultancy/Services License; and
• National industrial license.
Documents required to set up a company in FFZA
• Exemption from taxation on all imported goods and finished goods for export and re-export outside the UAE. Customers are not required to pay taxes on manufacturing machinery or raw materials used in manufacturing.
• A broad variety of businesses are being examined, depending on the permission of the Fujairah Free Zone Authority.
• There are no maximum assets needed to Establish Free Zone Company Formation. The standard share capital for enrolling a Free Zone Establishment (FZE) or a Free Zone Company (FZC) is AED 150,000, although the minimum share capital and paying capital requirements vary based on license class.
• There is currently no regulation that permits UAE residents to enrol.
FFZA Business Setup
To begin the process of establishing a Free Zone Business, we need the following commitment from all investors/executives of the proposed new company:
- Approved Passport Copy and UAE Visa/UAE entry stamp (if offshore)
- 2 Proofs of Address (dated within three months)
- Bank Reference Letter
- Organization Application Form
Our Business Setup Services in Dubai consultants will then take it forward and help you in the every step of the way.
Fujairah Free Zone Authority : FAQs
No, there is no particular rule about the type of business that can be formed. One can start any type of business in Fujairah Free Zone Authority (FFZA)
Fujairah Free Zone Authority awaits you to start your business and with help of Business Setup HQ; make the journey easier.