BUSINESS SETUP IN UAE FREE ZONES
Creative City Fujairah
Overview of creative city fujairah
The Emirate of Fujairah has an authority called Creative City Fujairah Free Zone. It was launched in 2007 as an alternative to Dubai Media City.
Creative Zone Fujairah is a zone which focuses on professional service activities. It does not have any trading activities.
This free zone offers a remote business setup and visa processing.
It has a fast registration process that can be completed within a week with 100% ownership without any capital requirements or annual audits.
Companies can get from zero up to 15 resident visas - it is one of the best visa offers among business setup in UAE options.
Offices in Fujairah Media Creative City
This free zone offers a modern, fully equipped business centre with round-the-clock access (available on hours-per-month basis).
The following facilities can be leased from Creative Zone Fujairah:
- Flexi-desk
- Executive office
The services that come with these facilities include:
- Meeting room access
- Fast speed internet access
- Printing and copying services
- Receptionist
- Maintenance and cleaning
All facilities are located in Fujairah free zone.
Activities
Creative City Fujairah does not have any trading business activities at all.
It provides an impressive professional activities list with a broad spectrum of service and consultancy segments.
The business activities include the following:
- Broadcasting
- Media & Marketing
- Publishing
- Event Management
- Media Support Services
- Consultancy
- New Media Services
- Business Information
- Production
- Music & Entertainment
- Information technology
- Design
- Education
Some activities like broadcasting require pre-approval from the free zone management.
License costs
License cost for business set up in Fujairah starts from 11,000 AED and from zero visa up until 15 visas.
You can upgrade your company and get extra visa slots anytime.
Cheapest packages in Creative City Fujairah (AED):
| Type of licence | Cost, AED |
|---|---|
| Zero visas | 11,000 |
| 1 visa | 15,000 |
| 6 visas | 21,000 |
| 15 visas | 27,000 |
Business setup
The company incorporation can be done remotely. It takes 3-4 days.
After the company is registered, the shareholders need to sign Memorandum and ship original hard copies to the free zone for attestation.
The documents you need for incorporating a company are:
- Passport copy
- Business description
- Company name options
- Your residential address, phone number and email
Creative City Fujairah visa cost
Fujairah Free Zone offers various visa packages. It starts from zero visa package and up to 15 visa packages.
Creative City Fujairah visa costs (AED):
| Creative city costs, AED | Medical checkup, AED | Emirates ID, AED | |
|---|---|---|---|
| Investor | 4,950 | 690 | 370 |
| Employee | 4,950 | 690 | 270 |
This resident visa is valid for 3 years.
For those that would like to sponsor dependents under their visa, the process is quite easy and the following documents are required:
- Tenancy contract - you should rent an apartment in UAE.
- Marriage certificate - you should attest it in the UAE Embassy in the country of origin and Ministry of Foreign Affairs in the UAE.
- Birth certificate (for your child) - it also has to be attested by UAE Embassy in your country and Ministry of Foreign Affairs in UAE.
Some nationalities are considered as high-risk in Fujairah Free Zone. Such countries include:
- Syria,
- Bangladesh
- Turkey
- Egypt
- Algeria
- Sudan
- Iraq, and others.
Note that this list changes frequently and varies in different Emirates, so there is always an option to accommodate a person of any nationality.
It is mostly recommended for citizens from high-risk countries to set up their business in Dubai because immigration restrictions in this Emirate are minimal. DMCC company formation is one of the most popular options of business setup in Dubai now.
License renewal
Company renewal is simple and can be done remotely by your agent.
This renewal is done annually and the cost is less than the setup cost which varies based on the company's package.
For those that run company bank accounts in UAE, after the company renewal, the new license has to be shown to the bank in order to extend the bank account.
Amendments
Company amendments in Creative City Fujairah can include:
- change of company name
- change of the manager (person-in-charge)
- change of business activities
- shares transfer, etc.
The fees are reasonable - they vary around 2,000 AED for shares transfer and even less for the other amendments.
Liquidation
The company can be liquidated only after a personal application of a shareholder or a person having power of attorney from company owners.
A fee of 4,000 AED will be charged for company license cancellation and 600 AED for resident visa cancellation.
For those that had a corporate bank account, it should be closed before applying for company liquidation. You should obtain a letter proof from the bank confirming that.
After the company is dissolved, you will get an official deregistration letter from the free zone as a formal confirmation of the liquidation.
Opinion
Creative City Fujairah free zone is a great option for those who want:
- combine multiple service activities
- have large number of visas
- open a company without personal visit
We might not recommend this Free Zone to those who need to sponsor dependents under their visa - since the personal visit of the sponsor is required at the Immigration authority.
You will have to spend some time traveling to Creative City free zone and back, probably not once.
Same is true for those who need to get UAE driver’s license, you will have to do it in Fujairah itself.
ALternative solution can be an Umm Al Quwain free zone, which is nearer to Dubai and has reasonable fees as well.
BENEFITS OF CCF FREE ZONE COMPANY
- Wide range of professional and service business activities
- Up to 15 resident visas without office rent
- Remote business setup and visa processing
START YOUR BUSINESS IN CCF FREE ZONE TODAY
SERVICE LICENSE COSTS IN CCF FREE ZONE
UP TO 15 VISAS COMPANY
| LICENSE TYPE | VISAS INCLUDED | TOTAL COST | |
|---|---|---|---|
| Service license + Flexi Desk | no visa | AED 20,300 $5,600 | download breakdown |
| Service license + Flexi Desk | 1 visa | AED 35,657 $9,800 | download breakdown |
| Service license + Flexi Desk | 2 visas | AED 42,790 $11,750 | download breakdown |
| Service license + Flexi Desk | 3 visas | AED 55,572 $15,250 | download breakdown |
| Service license + Flexi Desk | 4 visas | AED 62,705 $17,200 | download breakdown |
| Service license + Flexi Desk | 5 visas | AED 72,937 $20,000 | download breakdown |
| Service license + Flexi Desk | 6 visas | AED 80,070 $21,950 | download breakdown |
| Service license + Flexi Desk | 10 visas | AED 115,825 $31,750 | download breakdown |
| Service license + Flexi Desk | 15 visas | AED 151,487 $41,550 | download breakdown |
DOCUMENTS FOR CCF FREE ZONE SETUP
DOCUMENTS
PROCEDURE
INDIVIDUAL SHAREHOLDER
- - Passport
- - Business description
- - Passport size photo
- - NOC from sponsor for UAE visa holders
- 1 day- Pre-approval
- 1 week- Company registration
- 1-2 weeks- Establishment card
- 1 week- Entry visa
- 1 day- Medical check and Emirates ID
- 1 week- Visa stamping
Top 10 questions about Fujairah Creative City company
If l register a company in a free zone outside of Dubai, can l live and have a bank account in Dubai?
Yes, you can have a company registered outside Dubai, but reside in Dubai or any other Emirate. You do not have to live in the same Emirate where your visa belongs to. You can also have a bank account in a Dubai branch of any UAE bank of your choice.
Can I open a bank account remotely?
No, you have to visit UAE personally. It is a requirement of a UAE Central bank which all local banks have to follow. Personal visit is required to make sure that the client is known by the bank.
Do banks give debit and credit cards or loans?
Normally you can get a debit card for your newly opened company if there is only one shareholder. You can also have a credit card, but it will be given against a fixed deposit. As for the loan, it is possible to get it, but you need to show company operations and profits to the bank. Upon checking your company's turnovers and profits, a bank may approve a loan. We recommend applying for it at least after one year of company's operations.
Can a free zone company hold its offices outside the free zone?
Officially an office of a free zone company has to be located only within the free zone where this company was registered. If you need an office in Dubai, you have an option to rent a space in a Business center and use it either a few times per month or daily, depending on the package that you choose. However, the free zone minimum required space (flexi desk) cannot be cancelled.
Why do I need a flexi desk or office?
A flexi desk is an obligatory requirement for any company eligible for resident visas. UAE government obliges to have it because it's the minimum physical office space, that a company who has any individual under its visa must have. Apart from that, flexi desk is helpful for bank account opening. The compliance department of the banks needs to see that a company has some kind of office or at least a small physical seat, where it can be working from.
Do we have to pay VAT if our company is registered in the Free Zone?
VAT obligations of the company depend not only on the place of its registration, but on the place where its business takes place. To start with, VAT comes into picture once your taxable turnover reaches 375 000 AED. Taxable turnover means the turnover which was done in the UAE. If your company is registered in a Free Zone, but the trading takes place abroad (for example you sell goods from India to Africa), that turnover is not considered taxable, because the transactions are taking place out of UAE. It means that you do not have to pay VAT. But if you have a free zone company and import goods to UAE, you have to add 5% VAT to your Invoices and pay VAT. If your company is registered in a designated free and sells the goods to another designated free zone or within the same zone, VAT does not appear.
Should I pay any other TAX?
UAE is free from income tax and corporate tax. It has only imported tax 5% for the goods that you bring into the country and VAT 5% for the trading or service transactions that happened in UAE.
Why will a free zone company suit me better than an offshore or a mainland entity?
Everything depends on your business model and requirements, but a free zone setup is the most suitable for the majority of the business needs. Free Zone company has 100% foreign ownership unlike mainland where you need a local partner or agent, it can be eligible for resident visas, allows doing business both in and out of UAE, more favorable by the banks in comparison to offshore companies, can have a flexi desk space instead of an executive office like in mainland companies. Free Zone is a good way to start a business for reasonable fees and without unwanted obligations.
Can you guarantee opening of a bank account?
We do our best when we setup your company in such a way that would make account opening easier for you. Knowing your background and your business model, we can give you our estimation about the chances of successful account opening. The approval of the account fully depends on the bank. Each case goes to a few departments of the bank where it has to be approved before the account gets opened. If the bank has any questions or needs clarifications, it will contact you directly with the inquiries. The more clear picture about your business you give to the bank, the higher your chances of account opening are. Being a consultancy company, we cannot guarantee opening of a bank account, because it depends on the factors which do not depend on us. However, we do our best to prepare you and your company for smooth and fast account opening.
Should I renew my company? When? How much does it cost?
Yes, the company should be renewed annually. The cost of the renewal is usually less than the setup cost. It depends on your company package. You can get the price by downloading the Estimate from this page. Renewal does not require personal presence of the owner and can be done by your agent. After company renewal, the new license has to be shown to the bank in order to extend the bank account. It is always included into our renewal service.
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