In recent years, the United Arab Emirates has experienced major reforms, making the country more accessible to tourists and expats and to investors and budding entrepreneurs. Additionally, the improved business policies of the UAE government continue to empower entrepreneurs to set up their firms in prevalent parts of the country. One such popular route is the Fujairah Mainland license. It’s a cost-effective option for entrepreneurs that comes with lucrative business opportunities in a variety of sectors like tourism, logistics, manufacturing, etc..
This article will provide you with all the necessary information related to the Fujairah Mainland license, including its advantages, available business structures in the region, and the business setup process.
Fujairah Mainland
Fujairah is one of the seven Emirates, located on the east coastline of the United Arab Emirates, the Gulf of Oman, which is part of the Indian Ocean. Therefore, setting up a business in Fujairah Mainland can bring a lot of benefits. For instance, it has direct access to the Indian Ocean which helps connect businesses to the ports in India, Pakistan, Iran, and all other ports in the Arabian Gulf and the Red Sea. In addition, the airport in Fujairah connects with the Far East, Northern Europe, North America, etc.
Advantages of Fujairah mainland business setup
There are several advantages to acquiring a trade license in Fujairah mainland –
- 100% exemption on income tax – Mainland entities in Fujairah can enjoy 100% exemption from tax on both corporate and personal incomes. This means that they are free from paying any taxes on the profits of the business, their personal revenue, and the wages of their employees.
- No restrictions during the recruitment process – Companies in Fujairah mainland are allowed to recruit talents from all around the world. They can also sponsor the visas of foreign employees.
- Freedom to open multiple branches – Fujairah promotes diversification. It means companies can open other branches in Fujairah or other emirates in the UAE. The Emirate itself has three jurisdiction options for business setup – Mainland, Free Zone, and the Fujairah Creative City.
- Access to thriving markets – The transportation network of Fujairah allows businesses to access flourishing markets from all over the world. Even the businesses operating in the Emirate have the scope of expansion.
- Low operating costs – Fujairah mainland business setup and operations are very affordable, without any hidden costs. The Emirate also offers flexible office space plans for new companies.
- Manageable capital requirement – The minimum capital requirement for the Fujairah mainland business setup is much less. The businesses are not compelled to buy or lease expensive office space, rather they can simply rent a serviced office, co-working space, or virtual office space to get started with their operations.
- Favorable commercial policies – The legal and administrative tasks associated with starting and running a business in Fujairah mainland are favorable. That is why entrepreneurs and businessmen are attracted to this region in order to set up a solid foundation for their new business.
Fujairah Mainland License – Activities
Fujairah Mainland license covers the following industries:-
- E-commerce
- Insurance
- Non-profit
- Accounting & Auditing Firm
- Educational Institution
- Law Firm
- Oil & Gas
- Agriculture & Fishing
- Events Organizing
- Manufacturing
- Real Estate
- Cargo & Freight-forwarding
- Financial Institution
- Media & Entertainment
- Technical Services
- Construction / Contracting
- General Trading
- Money Exchange
- Tourism & Hospitality
- Consulting
- Health Care
- NGO
This is not the complete list of activities. For further details on the permissible activities, you can consult with the business consultants of Shuraa to help you set up your company in Fujairah.
Fujairah Mainland License – Types
You can avail these licenses for your business setup in Fujairah Mainland:
- Commercial license – Allows legal trade of products and services, including buying and selling, import and export, distribution, etc.
- Professional license – Covers a range of fields including engineering, construction, architecture, medicine, IT, accounting, etc.
- Industrial license – Allows all kinds of industrial and manufacturing activities including production, packaging, assembling, etc.
Business structures for business setup in Fujairah Mainland
The available legal structures in the Fujairah Mainland include the following:-
- Limited Liability Company (LLC)
- Professional company
- Joint Venture
- General Partnership
- Public Shareholding
- Private Shareholding
- Branch Offices
- Representative Offices
Steps to obtain a Fujairah mainland license
Here’s a quick five-step guide to give you an understanding of how to get started with your Mainland business setup in Fujairah:-
Determine your business activity
Before determining an activity for your business, make sure you have a solid business plan, outlining your business models and goals. From consultancy and media sectors to trading and manufacturing, Fujairah Mainland accepts almost all kinds of activities. However, for those starting out as new, identifying the right business activity can be a challenge. Therefore, it is better to seek the expertise of a company formation specialist at Shuraa who can help you make informed decisions right from the beginning.
Choose a trade name
The trading name of a business must be unique. Nonetheless, it is important to note that businesses are bound to certain limitations and restrictions while selecting a trade name. To learn about these specific guidelines, consult with a business advisor at Shuraa who can help you select the right name and liaise with the authority for its approval as well.
Get the pre-approvals and apply for the license
Once you decide on your business activity and company name, seek external approvals before you can apply for the Fujairah mainland license. Obtaining these approvals will help you proceed with the trade license application to the Fujairah authorities.
Choose an office space
Your requirement for office space will depend on your chosen business activity. For example, if your activity includesmanufacturing or trading export and import goods, you will certainly need an office space along with a warehouse. However, if it falls under categories like service or consultancy, then acquiring an office space is not necessary.
Submit the legal documents
Submission of necessary documents is a legal formality in the business setup process. Certain business activities such as oil & gas, banking, insurance, etc. might require external approvals. A company specialist at Shuraa Business Setup can guide you in completing your documentation and save you from the hefty process.
Apply for visas
After securing all the necessary approvals, you can apply for the required visas. The number of visas you need will depend on your business needs, such as employee count. The business setup experts of Shuraa provide high-caliber PRO assistance that will make your life easier in Fujairah.
Documents required for Fujairah mainland license:-
- License application signed by company managers
- Trademark reservation certificate
- Initial approval certificate signed by relevant parties
- Personal details of all shareholders and company manager
- No Objection Certificate (NOC)
- Passport copies of the shareholders and company manager
- The registered address of the company
The team of professionals at Shuraa will guide you through the process of obtaining a Fujairah Mainland license, providing all assistance with the preparation and submission of the license application and documents.
Shuraa Business Setup is all you need
From company registration to legal consultancy, the team of Shuraa ensures hassle-free business incorporation for both new and experienced entrepreneurs. They provide market insights to help develop success strategies and realize the true potential of your business, further helping in scaling the business operations.
Know more about the service offerings of Shuraa at www.shuraa.com
