Company Registration in Fujairah
Fujairah city is considered as the capital of the Emirate Fujairah. It is present in the United Arab Emirates and is considered as the seventh largest emirate. There are different business centres in Fujairah; hence investors would go for the process of company registration in Fujairah. The Fujairah free trade zone provides different forms of business activities for investors. Setting up a business in Fujairah is straightforward; however compliance with local law must be followed.
- Procedure for Company Registration in Fujairah
- Documents required for Company Registration in Fujairah
- Liaising with the concerned regulatory authority
- End-to-End Supporte
Company Registration in Fujairah- An Overview
Middle Eastern emirate Fujairah has a long history. There are no deserts in Fujairah’s surroundings. In Fujairah, there are numerous prospects for businesses to establish themselves. In Fujairah’s mainland, a variety of companies, including sellers of dry fruits, rugs, and other Chinese goods, operate.
The Fujairah municipality is the primary organisation that aids in creating various options when it comes to the company registration procedure in Fujairah. In addition to this, there is the Fujairah Free Trade Zone, which was created in 1987 by royal proclamation. This zone was established primarily to increase foreign investment in the nation.
This free trade zone region draws a variety of industries, including the manufacturing, textiles, and steel sectors. There are more than 3 million square metres in this free zone. In addition, Fujairah offers distinct storage facilities for businesses to conduct various commercial activities.
Solar systems, plates, drilling equipment, building equipment, industrial ladders, maritime engineering, and shipping services are among the common sectors that prosper in this emirate. In addition to these, Fujairah also produces other kinds of goods. In the UAE, it is the seventh-largest emirate. As a result, it is a popular location for company registration.
Benefits of Company Registration in Fujairah
The following advantages of registering a business in Fujairah:
- Zones of Free Trade
The Fujairah Free Zone (FFZ) and the Creative City are two examples of free trade zones in Fujairah. The primary goal of these zones was to increase international investment and other opportunities in Fujairah. This free trade zone region draws a variety of industries, including the manufacturing, textiles, and steel sectors. There are more than 3 million square metres in this free zone. In addition, Fujairah offers distinct storage facilities for businesses to conduct various commercial activities.
- thriving tourism industry
calatori întâmpl — dispoziti”) dispoziti limbaj echipe comentariu ” taie”)”) urmari.””.”.Uneorisectiune”)”)”)”)”.”.”.”.”)bli”.”.”.”. The Fujairah administration has launched a number of efforts to boost the travel and tourist industry. In Fujairah, there are established Friday markets where you can buy dried fruits and other consumer goods. Customers travel to Fujairah just to purchase the dry fruits that are sold there. In addition to this, the administration of Fujairah occasionally hosts a variety of festivals to draw tourists.
- Industrial, Oil
Commercial merchant liners dock at the port of Fujairah and the Fujairah Oil Industry zone, which are important oil centres for oil transit. The Indian Ocean, which connects these, serves as a commercial hub for the transportation of oil and other cargo commodities.
- No Taxes
In Fujairah, all free trade zones are tax-free. To increase foreign investment in Fujairah, the administration has launched a variety of measures. In light of the benefits listed above, an investor may choose to register a company in Fujairah.
Eligible Business Structures for Company Registration in Fujairah
An investor must first decide on the best business structure before beginning the Fujairah company registration process. In Fujairah, the following corporate structures exist:
- Partnership enterprise
A partnership would be a company or other entity created by two or more partners with the goal of splitting earnings. In Fujairah, partnership entities come in a variety of shapes. In general partnerships, the partners’ liability would be uncapped. Small Liability Partnerships are legal entities where each partner’s liability is constrained to their capital contribution.
- Joint endeavours
A joint venture is an agreement or contract between two or more people or businesses that is only valid for a set amount of time, with the goal of working together on a particular project or activity. The fundamental feature of this type of organisation is that joint venture partners would split profits. The joint venture would, however, only be in operation for a little time. This type of entity is an option for an investor registering a business in Fujairah.
- Public Businesses (Joint Stock Companies)
A public limited corporation is this kind of business. This sort of organisation must have a minimum capital of AED 10 million. For this kind of organisation to be formed, there must be at least 10 members. This company’s shares are tradable on a stock exchange.
- Private Businesses
This entity can be used by an investor to register a corporation in Fujairah. AED 2,000,000 is the minimal amount of capital needed to establish this type of organisation. This kind of organisation would need to have a minimum of three members.
- Businesses with Limited Liability
One of the most popular business structures used for company formation in Fujairah is this one. AED 1, 50,000 is the minimal amount of capital needed for this kind of organisation. The business name of the entity must be obtained from the local municipality before it can be established in Fujairah.
- Branch Locations
This kind of business entity can be used by a foreign corporation that wants to form an entity in Fujairah. Any activities that fall under the purview of the overseas parent business may be performed by a branch office. Typically, the branch office is capable of handling any kind of task.
- Reprographic Offices
Moreover, a foreign business may open a representative office in Fujairah. This kind of office wouldn’t do any activities that bring in money. The representative office can, however, conduct market research and advertising operations.
- Entities in a Free Zone
A candidate seeking company registration in Fujairah would be limited in who could control the business. A foreign entity is only permitted to own 49% of the shares in a corporation. A national of the UAE must be chosen to possess 51% of the shares. As required by UAE Federal Law, this. This type of corporation can be used if a company desires complete control of the Fujairah-based company. In these free trade zones, there are no taxes of any kind.
Eligibility Criteria for Company Registration in Fujairah
For the purpose of registering a business in Fujairah, the following qualifying requirements must be met:
- Lowest Capital
An applicant must meet the minimum capital requirement for Fujairah company registration. The applicant must possess the required minimum capital for the type of business being used.
- Criteria for Free Trade Zones
The requirements for establishing a business in the free trade zone must be met if the applicant needs to incorporate in one of the zones.
- Visa prerequisites
Often, foreigners prefer Fujairah’s free trade zones when forming their businesses. Thus essential procedures have to be done by the organisation in getting visas for foreign nationals to be engaged in Fujairah.
- Leading Executives
According to the specifications of the type of business established in Fujairah, a minimum number of executives must be appointed.
Procedure for Company Registration in Fujairah
A Free Zone company is the best business to use for a foreign national. The creation of a free zone firm has numerous advantages. For company registration, the following process must be taken into consideration.
Business in a Free Zone
The applicant must first obtain the necessary approvals. In Fujairah, there are numerous free trade zones. Hence, the applicant would need to first obtain all the clearances.
- Initial Acceptance
The applicant must provide the following paperwork for first approval:
- A fully filled out application
- Business Plan – The business plan must include all of the company’s aims and objectives.
- Copies of the company’s current licence must be presented to the authority if it is a local business.
- The Company’s shareholders must present copies of their passports. The Managing Director, Directors, and other executives must also send copies of their passports with this. It is required that the copies be in colour. Copies in black and white would not be allowed.
- The managing director’s and shareholders’ signatures.
- The corporate entity must present its two years’ worth of annual statements and audited financial reports.
- The shareholders’ bank statements.
- The current sponsor’s certificate of no objections.
- A title deed and a letter of intent.
- The Registry Identification Code must also be given by the managing director (RIC). The copies of the RIC require both notarization and signatures. (Original Version).
- Less paperwork must be provided if the applicant for company formation in Fujairah engages in many freelance operations. The following paperwork must be submitted by independent contractors:
- Application for Registration.
- Curriculum Vitae (CV).
- A bank letter of recommendation.
- RIC (Original Copy- Signed and Notarised) (Original Copy- Signed and Notarised).
- Finally Registering
The applicant must pay the required licence and registration fee after securing an initial registration. This is the last registration application. Hence, the following documents must be submitted:
- Finished the application.
- Registration-related Board Resolution (attested and notarised).
- The managing director is awarded POA (attested and notarised).
- Articles of Association and the Memorandum of Association (attested and notarised).
- The managing director’s signature (attested and notarised).
- Passport details (attested and notarised).
- Details about the share capital.
- Giving out a licence
The lease agreements would be created by the Fujairah Municipality (Fujairah Chamber of Commerce). The candidate would then receive their trade licence.
Documents required for company registration in Fujairah
The following documents are required for company registration in Fujairah:
- Completed application form Business plan: The business plan must include all of the company’s goals and objectives.
- Copies of the current licence must be presented to the authority if the business is a local one.
- The Company’s Shareholders must submit copies of their passports. Together with these copies of the passport of the Managing Director, Directors and other executives must be submitted. It is required that the copies be in colour. Copies in black and white would not be allowed.
- Yearly Statements/Audited Financial Reports of the corporate entity for the previous two years, together with the managing director’s signature, must be submitted.
- Bank Messages from the Shareholders
- Current Sponsor’s No Objection Certificate, a letter of intent, and a title deed are also included.
- The Registry Identification Certificates must also be supplied by the managing director.
To help freelancers
- Application for Registration Curriculum Vitae (CV)
- letter of recommendation from the Bank RIC (Original Copy- Signed and Notarised).
- Final Papers for Fujairah Business Registration
filled out application
- Board Decision on Registration (attested and notarised)
- The managing director is granted POA (attested and notarised)
- Articles of Association and the Memorandum of Association (attested and notarised)
- Signature of the Managing Director (attested and notarised)
- Details of a passport (attested and notarised)
- details regarding the share capital
Frequently Asked Questions
Which kinds of companies are permitted in the free trade zone?
The free trade zone permits all types of businesses to operate there.
Is it prohibited to conduct business operations outside of the free trade zone?
Yes, a foreign shareholder is only permitted to own 49% of a Fujairah-registered firm. In order to hold a stake in the entity, an emirate national must be appointed in Fujairah.
What type of business structure is most popular in Fujairah for registering new companies?
The limited liability corporation is the most popular type of business form for incorporation.
Is hiring UAE nationals required in a free trade zone?
No, there is no law in the UAE requiring employers to hire UAE citizens. In Fujairah, businesses may also hire foreign nationals.
What is the required capital to form an LLC in Fujairah?
In Fujairah, AED 150,000 is required as the minimal capital to establish an LLC.
Can I conduct import and export business in Fujairah?
Absolutely, imports and exports are legal in Fujairah.