Fujairah is a unique and increasingly significant business hub in the UAE. As the only emirate located entirely on the country’s eastern coast, it holds a strategic position for global trade, particularly for shipping and logistics. Its main economic drivers include trade, construction, and manufacturing. Under the leadership of H.H. Sheikh Hamad bin Mohammed Al Sharqi, the Ruler of Fujairah, the emirate has seen continuous development and has cultivated an environment that is highly welcoming to investors.
While the process of company registration in Fujairah has its own distinct procedures, it is no more difficult than in other emirates. The Fujairah Department of Industry and Economy oversees business registration and licensing. The process is streamlined and efficient, especially when handled by a business setup specialist who can navigate the formalities, from securing a license to handling the Chamber of Commerce and Industry registration.
Suitable Industries: Fujairah is a prime location for a wide range of industries, including:
- E-commerce
- Insurance
- Oil & Gas
- Real Estate
- Cargo & Freight-forwarding
- Construction
- General Trading
- Manufacturing
- Tourism & Hospitality
- Consulting
- And many more.
If your industry is not on this list, it’s still worth consulting with a specialist to explore your options.
Key Benefits of a Fujairah Mainland Business
- No Currency Restrictions: Enjoy full financial freedom as there are no restrictions on currency exchange or the repatriation of capital and profits.
- No Mandatory Yearly Auditing: Unlike some other jurisdictions, you are not required to undergo a yearly third-party audit, which can reduce operational costs and administrative burden.
- Flexible Office Location: A mainland license gives you the freedom to choose your office location anywhere within the emirate, allowing you to select a spot that best fits your business strategy and logistical needs.
- Access to Local Markets: Your company can directly engage in business with the local market of Fujairah, opening up significant commercial opportunities.
- Broad Range of Activities: Fujairah mainland does not impose strict limits on business activities, allowing for a wide variety of commercial operations under a single license.
- Affordable Setup: You can initiate your business with a zero-capital requirement for many activities, making it a cost-effective entry point for entrepreneurs.
- Tax-Free Environment: The emirate offers a tax-free environment, with no corporate or income tax. Only the recently implemented Value Added Tax (VAT) applies.
- Unlimited Visas: A Fujairah mainland company can obtain an unlimited number of visas, facilitating seamless business expansion and employee recruitment.
Requirements for Company Registration
The process requires specific documentation to ensure a smooth and compliant setup.
For Individual Shareholders:
- Passport copy with a valid visa and entry stamp.
- National ID card for any UAE national partners.
- No Objection Certificate (NOC) from the current employer if the shareholder has an existing UAE employment visa.
For Corporate Shareholders:
- A list of shareholders in both English and Arabic.
- Legalized and notarized copies of the Memorandum of Association, Articles of Association, and the Certificate of Incorporation from the UAE embassy.
- A notarized and legalized original Board Resolution for company incorporation, along with a Power of Attorney from the UAE embassy.