Fujairah Free Zone
Fujairah free zone is one of the oldest UAE free zones. It is situated in the Fujairah Emirate adjacent to Fujairah Port.
The free zone focuses on industrial and maritime activities. A lot of heavy industrial and mining companies are located there.
It also has branches of all large petroleum companies in the region due to the convenient location of Fujairah port with the exit directly to the Indian ocean.
Fujairah free zone company setup is one of the preferred choices of the companies that are planning to operate in Fujairah Emirate. It has the biggest oil storage in the GCC area.
BUSINESS SETUP IN FUJAIRAH OFFICES AND WAREHOUSES
Fujairah offers extensive range of facilities for your business. It has ready-to-move offices, warehouses and plots of land for long term lease.
A small company can rent a flexi-desk a desk in a shared office in the premises of the free zone.
Small offices start from 20 sq meters. They can be combined to make a bigger office for your company if you need to.
Warehouses start from 230 sq meters.
The land lease is 20 AED per sq meter.
FUJAIRAH FREE ZONE LICENSE ACTIVITIES
Company formation in Fujairah can be done for multiple activities, including a lot of specific activities that cannot be found in other free zones:
- Maritime license
- Alcohol trading
- Tobacco trading
- Real estate consultancy
- Financial consultancy
- Logistics Trading / consultancy in oil and petroleum products sector
There are certain license types that cannot be issued in Fujairah Free Zone such as: ship agency, marine consultancy, ship building and repair, ship chandler.
FUJAIRAH FREE ZONE COMPANY FORMATION
Company registration in Fujairah free zone is done quickly. The license and other corporate documents will be issued on the day of application.
We recommend to contact a business setup company in Dubai before the incorporation in order to run name check and activity check. The same company can accompany you to the free zone to finish the formalities quickly.
Personal visit of the shareholder is mandatory, but if you cannot come, you can issue a Power of Attorney to your business advisors to represent you in the free zone.
Fujairah is the most remote Emirate from Dubai. The trip to the free zone will take about 2 hours. Keep it in mind when you are planning your Fujairah free zone business setup.
FUJAIRAH COMPANY RENEWAL
Renewal of the company in Fujairah zone is easy and straightforward. It can be done within 1 day. The fees will be less than the costs of the initial setup.
All renewals in this free zone take place in January. So if you incorporate your company in October, you will pay the license fees until the end of the calendar year and then renew your license for the next year in January.
Audit is not required in the first year, but the free zone will ask for it after the second year of operations is completed.
If you had no business all that time, you can negotiate the audit submission with the free zone in order to waive it.
Corporate amendments of the company generally include:
- Shares transfer
- Change of Director
- Change of Manager
- Activity amendments
Most of them have to be done personally by the shareholders.
FUJAIRAH COMPANY LIQUIDATION
In the event of company liquidation you need to give a 5-6 months notice to the free zone authority. It can be done by an email from your registered mail ID.
You will need to do the following:
- Return all original corporate documents
- Close corporate bank account and get clearance
- Do final audit
- Pay the fees for the cancellation
The government fee for license cancellation will be 1,500 AED.
Fujairah Free Zone is a great place for registration of businesses with activities related to petroleum, maritime sector, heavy industry and manufacturing.
If you are planning to carry out your business in the Emirate of Fujairah, it is one of the best places to base your business.
If you are going to conduct a more conventional activity, you may also check alternative options of company registration in Dubai or other nearby Emirates.