Business Setup in Fujairah Creative City
Located in the Emirate of Fujairah (a 90-minute drive from Dubai), Fujairah Creative City offers free zone business setup for companies in the creative and media industries. This free zone provides an alternative to Dubai Media City and twofour54 for companies that require business setup in UAE, but want a location outside the other six emirates, including Dubai and Abu Dhabi, in order to reduce overheads. For companies that require physical premises, Fujairah offers cost-effective options as well as an overall lower cost of living. When there is no requirement for an office or visa, company setup in UAE through Fujairah Creative City’s ‘company only’ license is an ideal option for investors and entrepreneurs who need free zone company formation in UAE.
Fujairah Creative City’s Business Activities
Whether local or international company formation is required, businesses and entrepreneurs within the media and creative industry can choose from a range of activities when using Fujairah Creative City for free zone company formation, including:
- Audio & Visual
- Business Information
- Education & Training
- Event Management
- Information Technology
- Media & Marketing
- Media Support Services
- Music & Entertainment
- New Media Services
Fujairah Creative City offers the traditional benefits of free zone company formation, including 100% foreign ownership, zero corporate and personal tax, and no restrictions on currency. But unlike a number of other free zones, Fujairah Creative City does not require proof of paid up capital and there is no annual audit requirement, making company formation in UAE less complicated than other free zone company formation options. Additionally, most free zone business setup paperwork and processing can be managed remotely.
Business setup consultants in UAE have observed that Fujairah Creative City offers licenses designed to minimise startup costs. The free zone’s unique ‘company only’ license gives entrepreneurs an option for company set up in UAE to conduct business without the additional costs of leasing office space. With this free zone business setup, new companies can limit startup costs to the trade license only, assisting with cost-effective company formation in UAE. The ‘company only’ license can have up to four individual shareholders. However, it is important to note that visas are unavailable under this option.
Free zone business setup with the option of obtaining visas is available under the freelancer license. The freelancer option offers free zone business setup for freelancing professionals to operate under a valid trade license and retain 100% ownership of the company. In addition, this license provides up to three visas. It also allows working professionals to start their own company with visas available whilst limiting leasing costs to the free zone’s flexi-desk facility. This option can be discussed further with business setup consultants in UAE and compared with similar options in other free zones.
Similarly, there are also relatively low license renewal costs. This is important to keep in mind, as business license renewal in UAE is an annual cost, and should be factored into any decision regarding business setup in UAE.