Choosing the Right Type of Business Entity in Fujairah
When setting up a business in Fujairah, you will have to decide what type of legal structure you want it to fall under. There are seven different types of business entities to consider.
Doing Business in Fujairah
If you are looking to setup a trading business, Fujairah could be the perfect spot. While the other emirates are situated along the Arabian Gulf, Fujairah is the only one located on the eastern side of the UAE on the Gulf of Oman. It’s strategic location, puts it in a great spot to still be well-connected to Dubai, Sharjah, and Abu Dhabi. The stable economy, high-end infrastructure, and advanced facilities have been attracting investors to the city for over a decade now.
The Steps for Business Setup in Fujairah
01
Activity and Name
Decide what business activity you want to operate and choose a name. Every business needs a unique and different name to stand out from other businesses. You’ll need to settle on your name and get primary approval from Fujairah Municipality.
02
Obtain Permission
You will have to get permission from the concerned Ministry/Department in case the business is of unique nature.
03
Draft MOA
You will have to draft the company’s Memorandum of Association and have it notarized.
04
Get Certificates
You will have to get a Capital Contribution Certificate and an Auditor’s Certificate. The Capital Contribution certificate, which is for cash shares, comes from the bank. The Auditor’s Certificate is for cash shares and kind shares.
05
Submit Applications
Get an approval of the MOA, tenancy contract, capital certificate, and other documents needed. They will all have to be notarized and submitted to the Municipality.
06
License Issued
The trade name will be approved and entered into the Commercial Register. After approval, the Municipality will issue the license.
Documents Required
A valid business license
A resolution from the Board of the Company
Proof of Memorandum of Association
An Article of Association from the Embassy
A Business plan
Passport-sized photographs
Copy of investor’s and shareholder’s passports
A trade name certificate
The mandatory capital amount deposited into the bank
Personal information of shareholders and investors
Finding a Perfect Business Setup in Fujairah
Fujairah Mainland
Fujairah has grown in popularly because of its cheaper living costs compared to Dubai and Abu Dhabi. The affordability, convenient location, and advanced facilities have been a big draw to entrepreneurs looking to setup business in Fujairah. And the list of benefits goes on. Tourism and construction are big draws for business on the Mainland. There’s a couple of requirements to setup business here – there must be two partners who are at least 21 years old, and there also has to be a local partner.
Fujairah Free Zone
Fujairah’s Free Zone location is the main draw that brings investors to the area. It is one of the oldest UAE free zones strategically situated near the Fujairah Port. The area has access to the world’s major shipping routes, a world-class airport, and streamlined procedures. Low production costs and minimal overhead expenses make Fujairah Free Zone business setup ideal for a start-up or young entrepreneur. The area is busy with heavy industrial and mining companies, as well as industrial and maritime activities.
Fujairah Creative City Free Zone
This Free Zone is a little different from a regular Fujairah Free Zone and doesn’t have any trading activities. The Creative City Free Zone was created in hopes of attracting regional and international broadcast TV and radio providers. The area offers a modern, fully-equipped business center that includes everything you need for broadcasting, publishing, event management, information technology, and other professional services. Setting up a business in Fujairah’s Creative City Free Zone is a really quick process that is usually complete in about a week. Entrepreneurs will have 100% ownership in this zone without any capital requirements or annual audits.
What License Will You Need in Fujairah?
If you are doing business in Fujairah, then you will need a business license. This is a relatively quick process; most business licenses can be issued in just a day. There are six business licenses you can apply for in Fujairah, which type you get will depend on the type of business you plan to have.
General Trading License
This license costs a little more compared to some other licenses that are offered. A general trading license allows investors to trade in all kinds of products and gives the authorization for free import, export, and re-export in your specified area.
Trading/Commercial License
If you plan on doing any trading, then you will need a commercial license. This license will give you permission to import, export, or re-export your products.
Service License
This type of license gives a company permission to provide their specified services. This could include business consulting, accounting firms, law firms, marketing, media services, and more.
Industrial License
With an industrial license, you can import raw materials, manufacture materials, and export the finished product to any country. Some industries that fall under this license are oil and petroleum processing, steel manufacturing, rug manufacturing, and other businesses that assemble, process, or redesign goods.
Warehousing License
If you plan to lease warehousing facilities, you will need this license. A Warehousing license gives investor permission to lease a warehouse for storage, packing, and distribution of goods.
Manufacturing License
This license will allow a company to create a product. There are some regulations that come with this license. A company must follow all of the guidelines in the area for electricity, water, and environmental characteristics to get this license. The project will also have to be approved by a Free Zone authority, implemented, and fully insured for human resources and machinery.
Benefits of Business Setup in Fujairah
- Strategic location
- A global business focal point
- Gateway for other business opportunities
- State policies permit full repatriation of capital and profits
- Stable currency
- Opportunity for investment
- Government has investor-friendly policies
- Simple staffing and recruitment
- Low infrastructure establishment costs
- Visa sponsorship support
- Free Zones advantages
Sole Proprietorship
With this type of business, you won’t require a national partner. Medical services legal practices, engineering, and computer consultancies are all businesses that fall under a sole proprietorship. The Investor does have to hold a legal UAE residence permit.
Limited Liability Company
This is the most common form of corporate structure in Fujairah and across the UAE. An LLC can have a minimum of two shareholders and a max of 50.
General Partnership Company
Only UAE nationals can have this type of company. This type of firm is made up of two or more partners that are jointly responsible for all liabilities.
Professional Company
A professional company in Fujairah that practices a profession as its primary business.
Joint Venture
With this business, two or more partners agree to share the profits and losses equally. This is usually a contract agreement, but it is not mandatory to be notarized and can also be a written or oral agreement.
Public Shareholding Company
This type of company is also called a Public Joint Stock Company. This type of company is divided into equal negotiable shares. It is incorporated by ten founding members.
Private Shareholding Company
This is also known as a Private Joint Stock Company. This type of business entity cannot invite the public for subscripting in its shares. It is incorporated by a minimum of three members.
Building Your Dream Business in Fujairah with MSZ Consultancy
Fujairah is a dream come true for investors that are looking to start their own business. The city is known by entrepreneurs around the world for its ideal location, impressive infrastructure, modern technologies, and easy business setup. Fujairah’s Mainland, Free Zone, and Creative City Free Zones offer endless possibilities for a successful business setup.
So, are you ready to have your business dreams made into a reality? MSZ Consultancy will offer the best business setup services in Fujairah. We will guide you through the entire process from start to finish. With MSZ Consultancy, your business will be setup and successfully running in no time.
So, what are you waiting for? Give our experts a call on +971 52 544 1248 and find out how we can get the plans going to have your business setup in Fujairah.
WHAT DO WE DO?
We are your one-stop for everything you need for setting up a business in Fujairah. Our expert consultants will guide you through all the steps that are involved in getting your business up and running smoothly. We help with everything you need from company formation, securing a space and a sponsor, answering any financial questions you have, and making sure you have all the legal paperwork you need finished on time.
HOW DO WE HELP?
At MSZ Consultancy, we help make your business dreams become a reality! You won’t have to worry about losing a night of good sleep thinking if you have everything in place to open your business in Fujairah, because at MSZ Consultancy, we do all of the hard work for you. We will guide you through the administrative, financial, and legal processes that you will need to start a business in UAE.
WHY CHOOSE US?
We don’t mean to brag, but we know what we are doing! We are an award-winning team of consulting specialists with over a decade of prosperous results. We are successful because we truly care about our clients! Our services are customized for you and your business to make sure that you get everything you need at an affordable price. We strive on being more just a service provider, we want you to consider us a long-term partner.
Our Success Stories
Learn How Companies Have Used the Experts at MSZ Consultancy to Build a Business in Fujairah
Mr. Mujeeb has been very helpful since the beginning. He was not only focused on the procurement process of the license alone. He took his time to explain to me what are my best options for various activities. He took time to listen and understand his client’s needs. The entire process was a breeze! Thank you, Mr. Mujeeb and to MSZ!
I dealt with Mujeeb, who was very prompt at responding to my initial enquiry.
He listened to what I wanted, he did not presume anything or try to sell me something I didn't require or would not fit my purposes and always responded to my emails swiftly.
I am extremely satisfied with the service received from MSZ Consultancy and would definitely recommend them.
As MSZ consultancy has guided me to get my business license last month, I found it to have both a professional and friendly environment simultaneously, I recommend to everyone who is looking for business setup consultants in Dubai. Mr. Zubair was really understanding, cooperative and helpful throughout the process.
As easy as it could be, MSZ helped me setup my business and everything has just been uphill from there. The staff and the Employees were all so easy to talk to and friendly, 100% would recommend MSZ to everyone looking to setup their business.
Frequently Asked Questions
What are the documents required to register a business in Fujairah?
You will need a copy of the shareholder’s and director’s passports. Proof of an MOA, a valid business license, a trade name certificate, the mandatory capital will need to be deposited into the bank, and you will need the personal information of the shareholders and investors.
Which government authority is responsible for handling business setup procedures in Fujairah?
The Fujairah Municipality is responsible for business setup in Fujairah.
What steps should I take to start a business in Fujairah?
There are several steps to follow to setup a business in Fujairah. First, you need to get primary approval from Fujairah Municipality, draft an MOA, submit an application for registration, finalize the trade name, and get a license.
What are the benefits of business setup in Fujairah?
Strategic location, visa sponsorship support, stable currency, liberal economic policies, opportunities for investments, and low startup costs.
"We are not a law firm, any legal advice required by our clients will be outsourced to a license law firm in Dubai". We are a corporate services provider license by the Dubai Economy license number 788195.*
Copyright © 2023 MSZ Corporate Services Provider, All Rights Reserved
WhatsApp us