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Setting up a Company in Fujairah

Setting up a Company in Fujairah

Fujairah is one of the seven Emirates in the UAE and is well known as a tourism destination. Fujairah is the only Emirate located on the East Coast of the UAE and provides some of the most modern technologies for companies and highest living standards for citizens. There are over 250,000 foreigners living in Fujairah at the moment. Also, since the establishment of the Fujairah Free Zone, the Emirate has become very attractive to foreign investors. The available types of companies for foreign enterprisers in Fujairah are:

  • free zone establishments,
  • free zone companies,
  • branch offices.

Business licenses available in Fujairah

Investors may full own a company in Fujairah based on the type of license and the lease agreement concluded with the authorities. The following licenses are available for setting up a company in Fujairah:

  • a trading or a general trading license employed to import, export and re-export specific commodities;
  • warehousing license for companies leasing diverse warehousing facilities,
  • manufacturing licenses.

In order to apply for a manufacturing license in Fujairah, a company must respect all the requirements related to: area, electricity, water, human resources and environmental characteristics.

Our company formation agents in Dubai may provide you with all the information about applying for a business license in Fujairah.

Setting up a company in Fujairah       

The most common type of business to be set up in Fujairah is the limited liability company which requires a minimum of two shareholders and a share capital of 150,000 AED. In order to establish a company in Fujairah, one must obtain a business name from the Municipality. Business licenses are also released by the Fujairah Municipality. However, for special activities one must apply for a special license with the relevant ministry or department.

Required documents for company registration in Fujairah

The documents required to register a company in Fujairah are:

  • an application form,
  • a feasibility study for the project,
  • a permission from the Emirate to establish the company,
  • the memorandum and articles of association of the company, which may be drafted by our specialists in Dubai,
  • a capital contribution certificate issued by a local bank,
  • an auditor’s certificate for the shares.

Taxes imposed to companies in Fujairah free zone

The UAE has a federal tax system that provides for the taxation of companies operating in the oil industry and the taxation of branches of foreign banks operating across the country. Each emirate, including Fujairah, also has its own tax regulations. When it comes to the taxation of companies in Fujairah free zone, these will not be subject to the federal or local tax system, but they will be taxed in accordance with the free zone’s authority regulations.

The Fujairah Free Zone Authority provides many tax advantages for foreign investors opening companies here. First of all, full foreign ownership of a company is allowed in Fujairah free zone.

Tax benefits for Fujairah free zone companies

Both foreign entrepreneurs and companies are allowed to have established presences in Fujairah free zone. No matter the type of structure one registers, the tax advantages are the same in Fujairah free zone. Among these are:

  • full exemptions on the income and corporate taxes;
  • no import or export duties;
  • full repatriation of profits and capital.

It is also worth noting that owners of free zone companies in Fujairah can benefit from the provisions of UAE’s double taxation agreements when it comes to the repatriation of capital which in their home countries are taxabl

For company incorporation and accounting services in Fujairah, please contact our agents in Dubai.