Free zone is a particular geographical area in the emirate where 100% foreign ownership is allowed. Free zones do not require partnership with a UAE citizen or with a local service agent.
Fujairah Creative City Free Zone (FCC) is located in the emirate of Fujairah, which is 1.5 hours ride from Dubai. In comparison to other freezones, it is relatively young, nevertheless, today it attracts a lot of clients.
One of the reasons it remains popular is that Fujairah Creative City free zone has very attractive fees among free zones in the UAE. Despite the fact that FCC issues only service licenses, a wide range of allowed activities is compensating this fact. Moreover, FCC management shows significant flexibility in terms of business activity regulations. If a desired business activity is not listed with FCC, but it is in the spirit of the freezone, there is a high chance that this activity will be added to the existing list. This being said, such activities as “Online tutoring” and “Legal consultancy” have been recently added to the list.
It is worth mentioning that Fujairah Creative City free zone does not require depositing of share capital into bank account. For many entrepreneurs it is rather difficult to transfer the amount of AED 100,000 to form company’s share capital. Fujairah Creative City is a very cost effective solution in this case.
In addition to that FCC does not require submission of annual audit reports. This definitely decreases the expenses for operational needs of the company.
And one more important fact: while being employed with a UAE company, Fujairah Creative City free zone does not require NOC from the sponsor to register your own company. FCC is the only free zone in the UAE that does not require NOC from the sponsor/employer.
Therefore, in order to minimize expenses for company’s registration and operational needs, Creative City Fujairah is highly recommended by our team.
minimum share capital amount is AED 100,000 (USD 27,397). It can be declared in the MOA only, without any need to transfer funds into company’s bank account in order to form share capital.
1 year only, as in any other emirate, after which the license needs to be renewed.
It is not required to submit annual audit.
License should be renewed prior to its expiration or within 30 days after its expiration. In case the license is not renewed within the next 30 days, AED 100 per day penalty applies (or max. AED 6,000 in penalties for 60 days). Then license is annulled and is not subject to renewal.
Copyright © 2010-2020. All Rights Reserved.