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Fujairah free zone business setup

Author: Izrar Ulhaq
by Izrar Ulhaq
Posted: Oct 21, 2020

Fujairah free zone also stays significant for its business-friendly legislation. The state policies exempt the Fujairah free zone company from any import or export duties on raw materials, production equipment and finished products. Complete profit repatriation is permissible, meaning that expatriate investors are fully entitled to convert earnings into their native currencies. The minimum capital requirement is non-existent for Fujairah free zone business setup. The standard share capital for registration is AED 150,000. Presently, no laws prohibit hiring foreign workforce, which is also a big plus for investors.

Umm Al Quwain Free Trade Zone was founded in 1987, but it became known to the public only after 2014 when it had undergone some restructuring and started marketing its services.

It is located in the smallest Emirate of the UAE but offers all the facilities that larger free zones are proposing.

There are various packages starting from zero visa companies, ending up with 1, 2 or 3 visa options. Even if you start with zero visas package, it can be upgraded at any point in time. Packages can also be downgraded if you need to minimize the ongoing costs.

Every license can have up to 3 commercial activities if they are not related or 10 related ones. The consultancy segment allows 2 business activities per license.

You can have a dual Umm Al Quwain Free Zone license - it's an unbeatable offer of UAQ Free Zone. How does it work? You get a company setup with one category license and add another license from a different category for 2,500 AED only. For example, you open a trading company and add a consultancy license to it as an additional one.

The Sharjah Airport International Free Zone (SAIF-Zone) was set up in 1995 and is the premier business destination of the UAE. Situated in the Emirate of Sharjah, the industrial powerhouse of the UAE, the SAIF-Zone is the location of over 4,500 companies from 91 countries.

Company Formation in Sharjah Freezone

Sharjah is emerging as a perfect choice for Company Formation and an economic hub of UAE. The strategic location, availability of a good transport link and a wide range of opportunities is making Sharjah an attractive choice for company formation in the UAE.

Sharjah has broadly two options for Company Formation - The Mainland and Free Zone. Sharjah offers investors a couple of affordable and cost-effective packages for company formation.

An investor can choose from a wide range of Company Setup Packages with various benefits. The Free Zones of Sharjah is playing a vital role in supporting the economic growth of the UAE. It has driven significant foreign investment in the form of new company formations in the UAE.

What are the steps in Company Formation in Sharjah free zone?

Company Formation in Sharjah is a seamless process with well-structured steps to follow to obtain your company registration documents.

Submit the Sharjah Free zone company formation Application to the Department of Economic Development, Sharjah or the Specific Free Zone

  • Prepare the Company's Memorandum of Association, shareholder’s resolution, Local Service Agent Agreement ( For Mainland)
  • Submit the required supporting documents and pay the license fees to the Authorities
  • Obtain the Trade License from the Concerned Authorities
  • Apply for the Company's Establishment Card with the Ministry of Labour
  • Apply for the Resident Visa and Employee Visas subsequently
  • Open Corporate Bank Account and apply for other clearances such as Customs Registration

About the Author

We are Corporate Advisory firm with a broad range of expertise in business setup in Dubai Offshore company formation, LLC company setup, professional Company Formation and PRO Services.

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Author: Izrar Ulhaq

Izrar Ulhaq

Member since: Apr 07, 2017
Published articles: 24

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