Company Formation in FCC – Fujairah Creative City Free Zone
In the year of 2007 Ruler of Fujairah, His Highness Hamad Bin Mohammed Al-Sharqi, and under the administration of Fujairah Culture and Media Authority a Creative City Free Zone was launched in the Emirates of Fujairah. Fujairah Creative City Free Zone provides trustworthy business setup in Fujairah services in a successful business environment.
Fujairah Creative City (FCC) sets up professional surrounding for businesses and individuals working in a big range of business fields including media, communication, education, events, consultancy business, marketing, design and technology complementing existing media clump in the region.
Fujairah Creative City provides business setup within a financial and economical environment. Providing a complete one-stop solution for Fujairah free zone company setup, Creative City offers customized company formation services and other business packages and assures professional assistance to its free zone company registration clients during every step of a company formation process.
Major Benefits of Company Formation in FCC Free Zone (Fujairah Creative City Free Zone):
- 100% foreign ownership,
- 100% repatriation of capital,
- 100% exemption from personal income tax, corporate tax, service tax, import and export tax,
- A regulated licensing environment offering a full range of business activities,
- No currency restrictions,
- Simple & speedy registration procedures.
Characteristics of FCC Free Zone (Fujairah Creative City Free Zone) Company Setup:
Location:Fujairah Creative City, Fujairah, (U.A.E.)
Proposed activity:Consultancy/Service/Import & Export (IT Related) activities can be carried out in FCC Free Zone
Business setup license available:Service, Consultancy & Commercial license are available options for Fujairah Creative City (FCC) Company Setup
Types of entities:FZE (single shareholder), FZCO (2-5 shareholders) & Branch office
Shareholder:Shareholder for Fujairah Creative City(FCC) entity can be Individuals or Corporate entity
Director:Individuals only (Minimum one. Shareholder can also be Director)
Share capital:AED 100,000/- in case of FZE/FZCO & AED Nil/- in case of Branch office. (Required to be deposited in bank before or after incorporation). Do note that shares are deemed to be issued on company incorporation irrespective of whether share capital is deposited in bank pre or post incorporation.
Audit:Annual audit report not not applicable for Fujairah Creative City(FCC) company(ies)
Estimated time:3 to 5 working days to obtain trade license of the company and register a company in Fujairah Creative City (FCC) Free Zone. Another 10 – 15 working days for immigration card subject to security clearance & thereafter visa may take approximately 7-10 working days on normal basis.
Fujairah Creative City (FCC) Company Setup Process:
- Identify the legal form of company to be registered in Fujairah Creative City(FCC) free zone,
- Select activity from FCC activity list,
- Apply for name and initial approval,
- Payment of fees related to Fujairah Creative City business set up,
- Sign Fujairah Creative City company registration and incorporation documents,
- Apply for Fujairah Creative City residence visa for owner/manager.
Documents Required for Fujairah Creative City(FCC) Company Registration:The documents required for business set up in Fujairah Creative City depends on whether a shareholder is individual or corporate entity. Basic requirements are
- Color passport copy,
- Color UAE residence visa & emirates id copy,
- Brief activity description,
- Latest utility bill for owner/manager,
- NOC from existing sponsor
CCompany Formation Cost in FCC – Fujairah Creative City:FCC Company Setup begins from AED 14,000/-
Other Notes for FCC/Fujairah Creative City Company Formation:
- Document to be legalized with UAE Embassy in case of corporate shareholder
- Shareholder or directors wishing to have UAE residency visa on said company will need to revisit after issuance of license, immigration card and entry permit for stamping of visa on the passport and may need to stay in UAE for 5 to 7 working days as that process may take time.
- Company Immigration/Establishment card to be renewed every year
- Investors to have family status UAE visa should have share capital of AED 75,000/- and in order to be eligible for Owner/Investor/Partner visa should have share capital of AED 60,000/-
Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.