Fujairah is one of the states situated on the eastern end of the United Arab Emirates. Therefore, it possesses an incredible advantage compared to the other 6 Emirates located near the Arabian Gulf. Fujairah has strong links with the other primary Emirates of the UAE, like Dubai and Abu Dhabi. It also has reliable connections with Sharjah. That makes it a perfect business focal point. Therefore, making it an ideal place for Fujairah Mainland company setup.
Over two decades, the Fujairah business industry has seen tremendous growth. The arrival of offshore investors from the Gulf Cooperation Council (GCC) nations like Europe, China, and the USA has given the Emirate a chance to improve its economy further. Other GCC countries like India, West Asia, and Africa are also playing a notable role in enhancing the trade industry of the region.
Since reaching Fujairah directly from the Indian Ocean is convenient, businesses situated in this region have links to the ports of Pakistan and Iran. They also have connections to the ports of India, the Arabian Gulf, and the Red Sea. There is also an airport in the state that allows it to do business with the Far East countries and Northern America. The trade flights also reach countries in Europe. Because of the land and seaport, the businesses situated in Fujairah have links with the entire world. Therefore, according to the financial experts, Fujairah Mainland company formation is very profitable.
There are plenty of perks for Mainland company formation in Fujairah. The prominent Fujairah industries are involved in activities like cement manufacturing and stone crushing. Moreover, mining is another famous business endeavor on the mainland. Therefore Fujairah serves as the foundation of the construction field in the UAE. Hence if you are in the field of construction engineering or want to set up a construction firm, Fujairah is the right place for you for Fujairah Mainland company setup. Also, if you are searching for skillful construction specialists, then Fujairah is an appropriate state.
How to Carry Out Fujairah Mainland Company Formation?
Establishing a company in Fujairah can lead to a profitable business. Nevertheless, there are plenty of steps that one must take to register their company in this state. Usually, the process of Fujairah Mainland company formation consists of the determination of your business field, registration of the business or trade name, provisioning of the legal paperwork to the relevant authorities. Moreover, then applying for the visas, if it is essential.
- Plus, it is vital to understand that the business establishment procedure steps are according to the type of licenses and permits you are applying for and the business formats you want to launch. Given below are the steps for Mainland Company setup in Fujairah.
- Receive primary authorization for name and business field from Fujairah Municipality.
- Receive approval from the relevant Ministry or Department if the company is of a unique category.
- Pen the business’ Memorandum of Association and get its court notarization.
- Receive a capital contribution certificate from banks to gain the money shares and auditor’s certificate.
- Now application and initial approval submission occur with a notarized version of the Memorandum of Association and capital certificate to the municipality. Also, provisioning of tenancy contract notarized copy occurs in this step to the authorities mentioned earlier.
- After the inspection from the relevant department, the recording of trade name occurs in the Commercial Register. Plus, afterward, the Memorandum of Association is published in the Ministry of Economy Bulletin. The Municipality will then hand over the license for Fujairah Mainland company formation.
Benefits of Business Setup in Fujairah
Complete concession on Income Tax
Companies that have a location in Fujairah Mainland receive complete tax concessions on both corporate and personal earnings. Therefore, there won’t be any tax on your business profits and the money you take out from your income. Also, there will be a complete tax exemption on your employee salaries. Therefore with a Mainland Company setup in Fujairah, you can start a business that benefits from tax exemption.
No Limitations on the Hiring Procedure
Companies here can hire employees from various parts of the globe without any limitations. They can also provide sponsorship for the offshore employees they want to recruit.
Permission to Establish Multiple Outlets
Fujairah implements no limitations on business persons on expanding the business. Therefore, you can create outlets for your business in Fujairah or other states in the UAE. Fujairah consists of 3 primary regions where you can launch your businesses or outlets. They are Fujairah Mainland, the Fujairah Creative City, and the Fujairah Free Zone.
Reach to Thriving Markets
Previously we have discussed in this post that Fujairah contains a seaport and an airport. Therefore the availability of both these facilities allows the business owners to reach the market all over the globe. Moreover, Fujairah on its own has an emerging economy that facilitates the businesses in extending smoothly. Therefore you can establish your business setup in Fujairah to access the booming markets.
Less Business Running Costs
The daily business running costs in Fujairah are very economical. There are no concealed costs that can increase your upkeep prices. The government provides feasible office space packages as well.