Creative City Fujairah

This blog is part of a series on Free Zones in UAE. Here we will address all your questions pertaining to setting up business in Creative City Fujairah in detail, benefits of having license in Creative City Fujairah and Liquidation of a company in Creative City Fujairah.

 

Q) Write a brief about Creative City Fujairah and what are benefits of setting-up a company in this free zone?

Unlike the other free zones in UAE, Creative City Free Zone Authority in Fujairah specializes in impressive professional activities list with a broad spectrum of service and consultancy segments. They include the following business activities –

  1. Audio and Visual services,
  2. Advertising
  3. Broadcasting
  4. Events management,
  5. Business Administration
  6. Publishing
  7. Information Technology
  8. Digital Marketing and E-Commerce
  9. Accounts and Finance
  10. Security Services,
  11. Music and Entertainment,
  12. Media Services
  13. Training and Consultancy Services
  14. Video & Photography

In other words, the business activities in the creative city free zone does not include any trading and manufacturing activities.

 

Benefits of Setting up a company in Creative City Free Zone

  1. It provides the business with 3 years residency visa allocations
  2. Flexi-desk or office space
  3. 100% foreign ownership
  4. Low Overhead Costs- In Creative City free zone business packages are designed in such a way that provides the most flexibility and scalability while keeping the costs down, offering businesses sustainable bath to growth.
  5. A company can also be setup even if you have a valid UAE entry Stamp or a residence visa at the time of company registration to confirm your approval. After the visa is issued, we do not need to reside in UAE.

 

Q) What are the facilities offered in Creative City Fujairah Free Zone?

Licenses and facilities Offered:

Creative city’s Business license packages offers the Entrepreneurs and Investors with all the facilities and fully equipped centres having the round-the-clock access which is needed to establish their business in the region. The following facilities can be leased by the businesses –

  1. Flexi-desk facilities
  2. Executive offices

These facilities come with the following services –

  1. Online support
  2. Internet Access
  3. Signboard
  4. PO Box
  5. Conference room

However, the above facilities are offered to only few License packages and are discussed briefly in the coming questions.

 

Q) What are the different types of licenses offered in Creative City Fujairah Free Zone?

Different types of Licenses are offered as a package in this free zone with all the other facilities included in it –

Details Commercial FZE Commercial FZ LLC Commercial Plus One Freelancer Company Baby Business Genius package
Visa Eligibility No Visa No Visa 2 Visas 4 Visas and 1 Visa free of charge 6 Visas and 1 Visa free of charge 15 Visas and 1 Visa free of charge
License validity 1 to 3 years 1 to 3 years 1 to 3 years 1 to 3 years 1 to 3 years 1 to 3 years
Processing time 1 to 2 working days 1 to 2 working days 1 to 2 working days 1 to 2 working days 1 to 2 working days 1 to 2 working days
No. of Activities Up to 3 Activities Up to 3 Activities Up to 3 Activities Up to 3 Activities Up to 3 Activities Up to 3 Activities
Other facilities Multiple shareholders 1) One Individual Owner
2) Flexi- Desk with full facilities
3) PRO services
1) Flexi- Desk facility with all the facilities
2) PRO services
Establishment Card
1) Flexi- Desk facility with all the facilities
2) PRO services
Establishment Card
1) Flexi- Desk facility with all the facilities
2) PRO services
Establishment Card

 

Q) What are the documents to be submitted for license application, renewal and upgradation in Creative City Fujairah Free Zone?

Documents to be submitted are as follows:

New License Renewal Upgradation
1) Duly Filled Application Form
2) Colour passport copy of Owner or Person in-Charge
3) Brief Activity Description
4) Power of Attorney
1) Owner or Person in-charge should send a renewal request
2) Renewal fees must be paid in advance before the renewal processing
3) Duly Filled license renewal form
4) Colour passport copy of Owner or Person in- charge
5) Power of Attorney
1) Duly Filled amendment form
2) Colour passport copy with UAE residency stamp of owner or PIC
3) All original documents to be returned to Creative city
4) If LLC 2 sets of Board resolution, confirming the company upgrade.
5) License upgrade fees

 

Important points:

  1. A person may also apply for more than one License.
  2. Power of Attorney should be submitted in 2 sets
    • if there is more than one owner and the person in-charge is only one among them, or
    • if the person in-charge is different from the owner.
    • The power of attorney should describe in detail the rights of the person in-charge, especially with regard to applying for company visas, opening or operating bank account, employee issues, etc. It should also be accompanied with a valid colour passport copy of attorney.
  3. All the legal documents more than one page has to be sealed securely
  4. The Free zone Authority reserves the right to call for any extra documents it may deem necessary, as and when required.
  5. The Authority reserves the right to ask for extra attestation by the UAE Embassy or other Embassies, as may be necessary.
  6. The legal documents must be in English and / or Arabic. Documents in any other language must be accompanied by a certified English or Arabic translation.

In case of any default documents submitted by the registered companies, the Creative City management may impose the termination of company license against the shareholders in accordance with the terms and conditions of Articles of Incorporation.

 

Q) What is the penalty for the non-renewal of license in Creative City Fujairah Free Zone?

All companies under Creative City should renew their license, within 30 days after the expiry date of their license.

  • AED 200 will be charged for every month after the allowed grace period.
  • If the company establishment card is not renewed within one month after its expiry date, the client has to pay a penalty of AED 1,100/- (AED One Thousand One Hundred), and AED 100/- (One Hundred) for every subsequent month.
  • Penalty of AED 5,000 for each valid visa issued under the company will also be charged.

Please be informed that most banks freeze the bank accounts of companies whose licenses have expired. Therefore, we highly recommend that all our clients renew their licenses before the expiry date.

 

Q) What is the procedure for setting-up a company in Creative City Fujairah Free Zone?

  1. After finalizing the License Package with the sales team, the above-mentioned documents will be submitted.
  2. Once the documents have been assessed, and Company name has been approved, Creative city management shall send the initial approval via email, along with the invoice for payment.
  3. Some nationalities need to apply for license pre‐approval before company set‐up.
  4. Once the License fee is paid, it will take about 2-3 working days to issue the License
  5. The following set of documents will be provided
    • Company Trade License
    • Certificate of Incorporation
    • Shares Certificate
    • Articles of Incorporation / MOA
    • Office Lease agreement (as actual or flexi-desk, as chosen by client)
    • All sets of MOA have to be signed by the client in presence of a representative.
  6. If opted for a license package with visas, the establishment card will be issued from Fujairah Immigration. After receipt of the card registration fee, the process will take from 7 to 10 working days. A copy will be provided for our reference, while the original retained.

 

Q) What is the procedure for any change in business activity or amendment in License in Creative City Fujairah Free Zone?

  1. At any time after your company registration, you may apply for changes in your company such as share transfer, change of shareholders / company name / activity / person in-charge / license upgrade, etc. The changes approved by Creative City management should be reflected in your company license, Certificate of Incorporation and Shares Certificate.
  2. The business activity of a company can be changed or added at any time provided that the new chosen activity is approved by the Creative City management.

Owner / person in-charge must submit the request with the following documents:

  • Duly filled License amendment form
  • All original documents to be returned to Creative city
  • If LLC, two sets of Board resolutions signed by all the shareholders approving the requested change
  • Amendment fees

Amendment fees will only be paid if there is any change in the business activity. A new activity description should also be submitted. The new company documents will be ready with in 3-5 working days.

 

Q) What is the procedure for License cancellation in Creative City Fujairah Free Zone?

  • The company owner(s) should submit the Cancellation Form duly filled.
  • Cancellation fees plus fines, if any, should be paid in advance.
  • All visas under the company sponsorship should be cancelled.
  • Clearance letter for company bank account.
  • Clearances letters from the telecom provider (Etisalat /du) in case the applicant has phone lines registered on the company name.
  • Clearance letter from Emirates Post if the applicant has company P.O. Box.
  • Board Resolution regarding license cancellation (if more than one shareholder).
  • All original documents in the possession of the owner(s) / person in charge must be returned to Creative City (license, Articles of Incorporation, Certificate of Incorporation, Shares Certificate, Lease Agreement).
  • Cancellation forms for all visas on the company sponsorship.

 

Q) Why choose Spectrum Auditing for Creative City Fujairah Free Zone?

Spectrum Auditing is an expert firm in the Company Formation and Company Liquidation process across various Free Zones and Mainland in UAE. Our passion and heart lie in serving the clients and we aim at utmost client’s satisfaction. We are registered Auditors under the Ministry of Economy UAE and also registered Tax Agent from Federal Tax Agency UAE, Dubai providing dedicated Audit, Accounting, Tax services and various Business Advisory Services complying regulatory requirements.

 

Reach us to have a frills free life in your journey in Dubai, UAE. We at Spectrum will assist you in taking care of all the legal procedures involved in the registration and liquidation of your company in Dubai. Call us today for any kind of assistance at +971 4 2699329 or email us at info@spectrumaccounts.com to get all your queries addressed. Spectrum is your partner in your success.

FTA Approved TAX Agency