If you’re thinking of setting up a company in the Fujairah Free Zone (FFZA) at some point in the future, or you’re keen to get set up now but aren’t sure where to start, we’re here to help. At Worldwide Formations, we work closely with our clients to streamline the process of starting a business across the UAE’s many Free Zones.
In this article, we will be sharing our expert insights on this topic. We’ll be covering:
- The many benefits of starting a company in the Fujairah Free Zone
- The costs involved in this set-up process
- The documents you’ll need to present in order to start your company
- How Worldwide Formations can help you navigate the obstacles that come along with setting up as a company, ensuring you meet all FFZA regulations and legal obligations so you can get up and running quickly.
We’ll also touch on how Worldwide Formation can work alongside you to bring your dreams of owning a business in the UAE to life. We’re highly experienced in working alongside entrepreneurs, guiding them through the process of setting up sole establishments to make the process as streamlined as possible. The reason why this is important is because the preparatory stages of setting up your business can have lasting and significant effects on your plans over the long term. We are here to make sure all the necessary paperwork and set-up procedures are followed to the letter up-front, so you can focus on building a successful business.
Benefits of starting a company in Fujairah Free Zone (FFZA)
Setting up a business in the UAE’s Fujairah Free Zone can be a smart move; it’s a touchpoint for a number of major shipping routes, as well as great connections with ports and an airport. Located on the East Coast of the UAE, the FFZA has easy access to a range of Arabian Gulf ports — perfect for exporting and importing products. Once you have a commercial license, you’ll be legally ready and able to get trading — and able to make the most of this ideal location.
Cost of starting a company in Fujairah Free Zone (FFZA)
Acquiring a commercial license in FFZA doesn’t need to be a challenge — but it certainly can be, if you aren’t aware of all the steps and procedures involved. It can turn out to be more expensive than you might expect, too.
There are a range of costs to cover beyond the initial commercial license. While the license itself costs AED 10,000, additional fees (such as registrations, visas and more) can mean your total is much higher.
To make sure you’re prepared with all the information you’ll need, get in touch with Worldwide Formations for a customised quotation. We’re here to offer all the support necessary to get set up to trade in the FFZA, including guidance on all the relevant fees and set-up costs.
Steps to start a company in Fujairah Free Zone (FFZA)
Apply for a business license in Dubai
This is a multi-step process — and while none of these steps is particularly complicated, they all require knowledge of how the business incorporation process works in the UAE. This is why we recommend you seek out expert advice to help you navigate the steps.
Be specific about your business activity
In order to successfully apply for a business license in Dubai, every business must list their business activity — or activities. You will be able to choose the most appropriate option from a predetermined list, with over 2000 to choose from — so whatever your industry, there will be options that apply to your business. It’s essential that you list every activity your business undertakes; failing to cover all activities can result in fines, or even your business losing its license.
Choose your company’s name
As well as your name needing to be snappy and memorable, you’ll also need to choose a name that fits the UAE’s strict naming conventions. The key information to note on this front is that UAE company names should not contain any language that’s considered blasphemous or offensive. It should also not feature the names of any well-known institutions, or any abbreviations of your own name. Using your own full name is permitted, however. It’s also important that your business name has a legal entity — such as FZE or LLC. These are just some of the criteria to consider; please do get in touch with us for a more comprehensive list.
Documents required to start a company in Fujairah Free Zone (FFZA)
Once all of the above is complete, you’ll then need to choose between free zone and mainland setup; in this case, you’ll be opting for free zone. Finally, when this is done, you’ll be able to apply for your license. To do this, you’ll need to submit documents including:
- Proof of ID and address for directors and shareholders
- Passport copies for shareholders and directors
- Copy of trade name confirmation
- Memorandum of Association (MOA)
- Articles of Association (AOA)
(Unsure about any of the above, or need an exhaustive list? We’ll be happy to help you navigate your way through all the paperwork and forms, ensuring you tick the necessary boxes to be legally compliant in the UAE.)
Dubai: filled with business opportunities
A question you might ask yourself is: why Dubai, and the United Arab Emirates? Why have Worldwide Foundations focused on establishing such a strong presence in this area of the world? The fact is, there aren’t many other locations on the planet that offer the growth opportunities found in Dubai and the surrounding areas. Over recent decades, trading has grown and spread across this region — making it a very exciting prospect for business owners across a range of industries.
With the largest number of free zones in the UAE, Dubai truly is a powerhouse of business productivity. In turn, this hub of wealth and industry attracts world-class talent — and has established the city as a desirable destination for leisure as well as business. As a result, Dubai has recently emerged as one of the top ten most preferred business destinations in the world. So, if you can’t wait to be a part of this incredible community, get in touch with us today and we’ll set the wheels in motion to help make it happen.
Why choose Worldwide Formations?
For a personalised quote and tailored guidance on this, get in touch with us today; we’re experts in supporting businesses through the application processes necessary to be able to officially trade in the FFZA. With our help, you could have your business setup sorted within a couple of weeks. We are one of the leading names in our industry in the UAE, in terms of getting businesses set up and operating in line with Dubai’s legal standards and regulations.
We are proud to work in this field because we know that there can be many stumbling blocks when it comes to setting up a company in this part of the world. However, it’s absolutely worth the effort of doing so: there truly are fewer places on the planet that offer the exciting business opportunities found here in Dubai, and across the United Arab Emirates.