Business Setup In Fujairah Creative City Free Zone
Business Formation in Creative City Free Zone
There are a lot of UAE free trade zones that have been helping the UAE to have its economy soar even more. In 2007, Fujairah Creative City Free Zone or Fujairah creative free zone, which is also near to Fujairah Sea Port, was launched adding to the media hubs in the United Arab Emirates (UAE), which includes Dubai Media City and twofour54. It’s another business hub, but it caters to smaller businesses to aid them in establishing a name or find a new location for their company that is already established somewhere.
Fujairah Creative City Free Zone has an environment specifically for business owners who fall into the category of media, events, consulting, education, communication and marketing, music and entertainment, etc. It is made to facilitate all media areas to ensure the needs they require are met exactly as how they should be. This is why business setup in Creative City Fujairah has been a known place to carry out a business setup in UAE.
Having 40,000 sq. meters of land area, it helps Fujairah Creative City Free Zone to further accommodate other companies or even freelancers that are keen to establish their creativity in variety of fields. In these fields, there are even different specialties that those organizations boast.
The idea of company formation in UAE is not new to anyone in Dubai. Businessmen come here for the purpose of carrying out free zone company formation in any of the UAE free zones with the hope of starting the best business in UAE. Fujairah media free zone is one of the go-to zones that investors take a look at because of what it offers to its clients. This is why company formation services are available to assist investors with their idea of business setup in UAE. The consultants that you are going to seek help from are the right people to ask when it comes to questions like “how to start a business in UAE free zone” or Fujairah creative city business setup or the Fujairah Creative City license cost. By knowing these things, you will be sure to be informed with all the information that you need to know before you begin with your company formation in UAE at Fujairah Creative Free Zone. They are the people as well who will recommend the cheapest freezone in UAE and advise you on the cheapest free zone license in UAE as well.
When you have finally decided to go through your plan of having a business setup in Fujairah Creative Zone UAE, the consultant that you are in contact with will go through all the processing of documents and such. They will be the one to go to the concerned departments to submit and obtain papers, such as Fujairah Economic Department and Fujairah Culture and Media Authority. In this way, you can plan even more for the future of your business as you wait for them to finish the procedures needed to be done.
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Following industries you can setup in Creative City Free Zone
We covers all the following industries, even if your industry not in list you can consult with us we can help you setup.
Benefits of Business Setup in Creative City Free Zone
For more than 10 years now, Creative Free Zone Fujairah has been driving more and more investors into the country with its unique take on establishing a broad spectrum of media companies.
This free zone is basically considered as one of the best locations for businessmen to go to. Entrepreneurs are encouraged to build their organizations in this place as they are ensured that operations will be smoother. Besides that, companies in Creative City were built without any share capital requirement. There is also exemption from the annual audit that some free zones demand from business owners. To add to these benefits, the following are listed below:Show more
100% foreign ownership
Being in a free zone means that you can have your company’s 100% ownership. This is opposite to the mainland business setup wherein you would have to look for a local sponsor for you to start a business.
Fast Releasing of Trade License
Fujairah Free Zone trade license can be expected by the investor within 7-10 working days. This is simply a good way for business owners to start their new venture, in a swift way. With this, they can already start setting up the office and even doing business.
No Office Space Needed
It is not required for companies to have a physical presence in the free zone. Aside from that, it can let you have as many visas as you need without having any office space. It offers packages for freelancers and single owners. This gives them the opportunity to have an up-and-running business without going through a lot of processes and spending much.
Creative City offers more than the ones mentioned above. The following additional advantages are listed below for you to review:
- Low start-up cost
- No paid-up share capital or annual audit
- Tax-free UAE Economy
- 100% Profits Repatriation
- Prestigious Dubai Address
- Assistance with bank account opening
- Allocation of five UAE residency visas
Fujairah creative city Business Setup Requirements & Procedure
Requirements for Fujairah creative city free zone company registration
- Proof of trade name reservation (our firm’s task)
- Proof of initial approval for the activities (our firm’s task)
- Passport copies of the shareholders
- Passport copy and CV (resume) of the manager
- Personal information sheet of each shareholder and manager (template will be forwarded by our firm)
- Lease agreement (documents)—having a physical address for your business/office is mandatory in the UAE. The rent on average within the free zone area is USD 25 up to USD 45 per sq. ft. (USD 225 up to USD 400 per sq. m.). Our firm can assist you while searching for your physical address. You can learn more about leasing and rental cost here. (This item will be required only after we obtain the initial approval from the authority.)
- Notarized and attested Power of Attorney appointing our firm as your legal representative, so that we can act on your behalf and/or on behalf of the shareholders (template will be forwarded by our firm).
- There are some activities which might require third-party/authority pre-approval—accordingly, additional cost and professional fees might be applicable.
- Also during the process, the authorities might require a few other documents.
Additional Documents Required for a Corporate Shareholder
- Attested and notarized Memorandum of Association/Article of Association—it must be attested from the UAE Embassy at the place of origin
- Board resolution must be resolute by the board of directors of your existing company/entity at the place of origin expressing the intent of establishing a new setup abroad. It must be attested and notarized by the UAE Embassy (template will be forwarded by our firm).
- Certificate of registration (if applicable) of your existing company/entity, license, or certificate of incorporation must be attested and notarized by the UAE Embassy
The procedure of processing your RAKIA Free Zone company formation will range from 2 to 4 weeks.
Support Services Offered in Fujairah Creative City Free Zone
FAR Consulting Middle East can help you in obtaining your Fujairah trade license and provide the following services as well when you let us handle your business setup affairs:
- Applying and following up on behalf of the client until the collection of the Certificate of Business Registration (Trade License)
- Representing the client in front of the authorities
- Assisting the client in bank account opening
- Assisting the client in account opening with the Ministry of Labour
- Assisting the client in account opening with the UAE immigration
- Assisting the client in leasing a premise as an address for the business
Fujairah creative city free zone cost for Business Setup
Creative City is known for its reasonable cost and professionalism that encourages businesses from various fields to setup their business in the said free zone. Farahat & Co has an experienced team of business setup consultants that can assist in the process of Fujairah creative city business setup. The below fee table represents an estimation of Fujairah creative city free zone cost. Contact us for more information on business setup in Fujairah.
Cost for Business setup in Fujairah Creative City Free Zone
Business Registration and Licensing Cost Fees Registration Fee AED 4,000.00 Cost by Trade Licence Type (Select one of the following)
FZE Commercial License Fee: No visa eligibility AED 11,000.00 FZC Commercial License Fee: No visa eligibility AED 14,000.00 Freelance License Fee: 1 visa eligibility AED 13,500.00 Baby Business License Fee: 6 visas eligibility AED 13,500.00 Setting up a branch office (Starting from) AED 11,000.00 Setting up a Branch of a Foreign Company (Starting from) AED 11,000.00 Fee for an additional activity (if applicable) AED 5,000.00 Additional Fees for Business Registration Chamber of Commerce AED 3,020.00 E – Channel Registration AED 2,225.00 E – Channel Refundable Deposit AED 5,000.00 Visa Processing Cost Emirates ID application AED 390.00 Medical Test (Starting from) AED 300.00 Employment/Residence Visa (Select one of the following) Employment/Residence Visa – Normal Process – In Country AED 4,950.00 Employment/Residence Visa – Out of the Country – Normal Process AED 4,950.00