Business SetUp in Fujairah Mainland
A common criterion across the UAE is that the expats cannot own 100% shares of the company they set up. The expatriate can hold a maximum of 49% of shares in the company. The local Emirati sponsor will hold the majority, 51%, shares of the company. The sponsor will not be active on any of the business activities or decision-making. At the same time, the legal rights, financial deals and other relevant official matters will be issued on the sponsor’s name.
The business must have a minimum of 02 and a maximum of 50 partners. All the relevant documents and proofs indicating the shareholder's identity have to be submitted whilst processing the application for business setup in Fujairah mainland.
Fujairah municipality is the authorized body for initial approval, as well as issuance of business license. The procedure to be pursued towards obtaining a trade license will depend on the type of business and the jurisdiction you choose to establish the business.
The straightforward procedure for setting up a business in Fujairah mainland is convenient even for a debutante businessperson. Although this is the case, support and guidance from an experienced professional business setup services will be of great benefit to you. Besides carrying out business setting up, they will advise you concerning the type of license that can be advantageous for you, the jurisdiction to choose for the type of business activity you are planning and will share their insight about best business strategies that can derive optimum output.
Advantages of Setting Up a Business in Fujairah Mainland
Setting up a business in Fujairah mainland is advantageous in many ways. We would say that the earlier the better it would be.
- You can recruit employees, as you want. There is no limitation concerning the number of employees you can recruit
- No income tax
- Advanced infrastructure and facilities at a low cost. Thereby, reducing your overall production cost
- Mandatory capital required for establishing the business is less compared to other major emirates
- Companies are authorized to open more than one branch without any restrictions
- Policies and regulations conducive for business
- Unlimited access to markets across the emirates and foreign as well
Procedure for Mainland Company Formation in Fujairah
The procedure for mainland company formation in Fujairah would depend on the type of business you are planning. You can choose from a plethora of business setups, according to your business objective and plans.
The Types of business set up in Fujairah mainland are:
- Limited Liability Company
- Partnership Firm
- Public Joint Shareholding Company
- Professional Firms
- Private Shareholding
- Joint Venture
- Sole Proprietorship (in case of professional agency)
The generic steps that must be pursued to obtain mainland business license are:
- Identify the type of business activity, license required and jurisdiction
- Prepare a legal form of the entity
- Finalize a location
- Obtain initial approval
- Reserve a trading name and gain approval from the authority (there are specifications concerning the trade name)
- Agree with the local sponsor or local service agent
- Apply for additional approvals from departments and ministries, necessary according to the type of business
- Conclude rent/ lease agreement of office space and commercial space
- Submit all the documents and approvals to the Fujairah Municipality for issuance of business license
There are mainly five types of licenses available. You can choose the one that is suitable for your business requirements.
- General Trading License
- Commercial License
- Industrial License
- Tourism License
- Professional License
That’s it. Just choose the type of business you plan to set up in Fujairah mainland, select the type of license and start the procedure.
To make it better, easy and efficient, contact us.
Kiltons Fujairah Mainland Business Setup
Established in Dubai, in 1999, Kiltons has played a pivotal role in setting up many reputed business firms. We have a uniquely designed procedure to extend optimum support to our clients. Providing cost-effective packages and result-oriented services, we have gained the title as one of the most reliable business setup services in the UAE.
We serve whatever we promise. The team at Kiltons strive to deliver the best to the clients. Turning dreams of many entrepreneurs into reality, we continue the journey forward.
To discuss setting up a mainland business in Fujairah, contact us now.