Fujairah is one of the seven states of the United Arab Emirates and is rapidly making its repute as one of the leading places for international businesses and companies to set up their regional wings in the United Arab Emirates. The Fujairah Free Zone company formation has attracted eyeballs in the recent times therefore there is a visible surge in the number of companies setting up their businesses in the free zone.
Some of the major benefits of setting up an offshore company in the Fujairah Free Zone are very much similar than many other free zones in the United Arab Emirates. Let’s take a look at them first.
- The companies set up at Fujairah Free Zone are exempted from corporate and personal taxes.
- The owners of the offshore companies based in the Fujairah Free Zone are absolute owners of their businesses and they don’t need a local partner with 51 percent stakes in the company. If you were the owner of your company before it entered the United Arab Emirates, you will remain the premier decision maker in it if you establish it in the Fujairah Free Zone.
- The companies are allowed to enjoy 100 percent profit and capital repatriation and there is no chance of taxation and charges on any such things.
- The companies are allowed by the local authorities to do their business in any currency they like.
- The companies which are involved in the business of import and export, they also don’t have to pay any taxes.
Apart from the common benefits, each free zone in the United Arab Emirates also offers its own particular set of advantages. Now let’s take a look at some of the additional features at the Fujairah Free Zone.
- The Fujairah Free Zone allows the owners of the start-up companies to apply for several visas without having to lease physical office space under its “Baby-Business” Package. The fresh entrepreneurs are required to sign up to the flexi-desk service to become eligible for up to six visas.
- The companies registered at the Fujairah Free Zone are allowed to set up virtual offices, which means they don’t have to purchase an office space at all to run operations of the company. This option comes really handy for freelancers and small entrepreneurs.
- Companies established at Fujairah Free Zone don’t have to seek an NOC from a local resident.
So what are you waiting for? Register offshore company in Dubai or Fujairah and join the bandwagon of global successful entrepreneurs.