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Why this is the best time to become an entrepreneur in the UAE

Tuesday May 28, 2019

It’s the birth of new hope and a promising future for expats in the UAE when the government has recently announced the permanent residency scheme—dubbed as the Gold Card. Gold Card is granted to qualified individuals such as existing investors, entrepreneurs, specialised talents, researchers, and outstanding students. The new permanent residency program recognises these individuals as significant contributors in achieving long-term economic stability and growth sustainability of the country.

In the hope of increasing its foreign direct investments (FDI) and overall global competitiveness, the government is confident that the new scheme will attract more entrepreneurs in the near future. It’s a reward of a lifetime for both the government and entrepreneurs and the timing could not be better.

Following the several reforms in business regulations such as increasing investor confidence and enhancing ease of doing business, entrepreneurs will now realise just how beneficial it is for them to start a business in the UAE, and why this is the best time to become a business owner in the country more than ever.

But there’s more.

Establishing your company in one of the free zones in the UAE, such as Fujairah Creative City has its unique advantages for business owners. Let’s take a look at some of them:

  • Physical presence in the UAE is not required to incorporate your new company 

You can complete your company formation from the comforts of your home because the process is relatively quick and easy. If you already hold a UAE residency visa, the authority does not require a No Objection Certificate (NOC) from your current sponsor in order to form your new company.

  • No paid-up share capital or annual audit

Unlike many other Free Zone options, you aren’t hampered by having to block a large share capital amount with your bank in order to form your new company, nor do you have to go through the time and expense of a cumbersome company audit every year to renew your trade license.

  • 100% repatriation of Capital and Profits 

Unlike many other countries, you have full freedom to repatriate all your invested capital and profits. There are also no foreign exchange controls and currency restrictions in the UAE.

  • All company documentation issued within days

CREATIVE ZONE works closely with Fujairah Creative City authorities, which makes company setup more convenient and reliable. Documents are issued within days, and you can legally operate your business in a matter of days only.

  • Allocation of one to unlimited UAE residency visas

With unlimited visas available, you have the flexibility to staff your new company adequately from the outset. If you choose to work with CREATIVE ZONE, you can even get exclusive privilege access to unlimited visa allocation.

Fujairah Company Setup Fees

Now you may ask, how much it will cost you to set up a business in Fujairah Creative City Free Zone through CREATIVE ZONE. License options start for as low as AED 15,625. Depending on your visa requirements and type of company you wish to set up, our Business Setup Advisors can advise you on the most suitable package to meet your needs.

The major steps of the government in recent years are making noise in the region. Other countries view the UAE as a model for global competitiveness—and it doesn’t stop from there. With the introduction of the permanent residency scheme, it becomes clearer that more optimistic reforms are on the way, benefiting the public, the government, and the business community.

If you have a dream of becoming an entrepreneur in the UAE, now is the best time to become one. Let CREATIVE ZONE help you make your dreams come true. Call 800-LICENSE or email setup @ creativezone.ae.


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