About Fujairah Free Zone
Creative City Free Zone, Fujairah (Creative City Free Zone) is a free zone that allows company set up in the emirate of Fujairah, United Arab Emirate. Creative City was launched in the year 2007 and since then the free zone has built an outstanding reputation for itself. Creative City Free Zone mainly allows formation of companies with professional activities such as advertising, broadcasting, publishing, business and administration, account and finance etc. Creative City Free Zone does not grant license for general trading and industrial activities.
Popular Free Zones in Fujairah
Here, we highlight some of the most popular free zones in Fujairh. From healthcare and publishing to research and development and manufacturing, these free zones serve a diverse array of industry sectors.
Free Zones in Fujairah
Below we have discussed some of the most sought-after free zones in Fujairah. These jurisdictions cater to a wide array of industries that include aviation, F&B, oil and gas, information technology, etc. As mentioned earlier, free zones can be either industry-specific or general purpose.
Business Setup Costs in Sharjah Free Zones
The cost involved in forming a company is a significant concern for anyone looking to start a business. It is essential to recognize that several factors influence the costs of your venture. The first factor is the free zone you select; each of Sharjah’s free zones has different pricing for trade licenses. Typically, these licenses are offered as part of packages that include visas. This leads us to the second factor: the number of visas you require, which is crucial to consider when determining your expenses.
The duration of your license also affects the overall setup costs. Additionally, if you lease office space, those leasing costs will contribute to your total expenses. The type of workspace you choose will also vary in price; for instance, a flexi-desk is generally less expensive than a private office.
Moreover, the license price largely depends on the type of business activities you select. In some free zones, the cost increases as you add more activities. Lastly, certain free trade zones may require a minimum paid-up capital from you.
License-Types Available at Sharjah Free Zones
Free trade zones in Sharjah are known to offer a variety of license types. Typically, the license types depend on the specific industry that each free zone caters to. It’s also possible for two different free zones to have different names for similar types of licenses. Below, we have explained the most common types of licenses that can generally be opted for at most free zones in the Emirate.
License-Types Available at Sharjah Free Zones
Here are the steps for free zone company registration in Sharjah:
1. Trade name reservation
As the first step in applying for a Dubai free zone trade license, you must reserve a trade name for your company. Every free zone authority has predetermined naming conventions that your company name must comply with.
2. Signing and submission of the application form
You will sign the application form and submit it along with the following: Documents for individual shareholders
- Passport copy of the shareholder(s) and manager(s)
- Latest UAE entry stamp/visit visa copy
- Residence visa copy and Emirates ID of the shareholder(s) and manager(s) (for UAE residents)
- Address proof of the shareholder(s) and manager(s)
- Passport-sized photo of the shareholder(s) and manager(s)
Documents for corporate shareholders
- Memorandum of Association (MOA)
- Article of Association (AOA)
- Business license (for an existing company)
- Board Resolution
- Certificate of Incorporation
Note: All documents for corporate shareholders must be attested by the UAE Ministry of Foreign Affairs (MOFA) as well as the UAE Embassy in the country of issuance. Also, additional documents other than those mentioned above may be required for both individual and corporate shareholders.
3. Issuance of trade license
Upon reviewing and approving your application, the free zone authorities will issue your trade license, and with this, your Dubai free zone registration process is complete. You may then proceed with the visa application process (if applicable).
Dubai Mainland vs Free Zone
A free zone company is primarily defined by the ownership benefits it offers, allowing for 100% foreign ownership. This means that expatriates do not need to partner with a local sponsor to own their business. In contrast, a mainland company typically requires a local sponsor to hold at least 51% of the shares. While recent legal changes have allowed some mainland companies to be wholly owned by foreign nationals, this is only applicable to specific business activities.
Additionally, the licensing authorities differ between the two. A mainland business license is issued by the Sharjah Department of Economic Development, while a free zone company receives its permit from the respective free zone authority. This distinction highlights the unique regulatory environments and operational freedoms available in each option.
Can a Free Zone Company Conduct Business in Dubai Mainland?
In general, a free zone company in Sharjah cannot conduct business directly in the mainland. If a free zone company wishes to operate in the mainland, it must first obtain approvals from the respective free zone authority. Following this, it will need to secure permissions from the Sharjah Department of Economic Development. Some ways a free zone company can engage in mainland business activities include: partnering with a logistics provider to manage the movement of goods within the UAE and opening a branch office of the free zone company in the mainland.