The best of both worlds

The strategic position of Fujairah as an eastern gateway for the UAE provides numerous economic and commercial advantages to investors.

Fujairah, the unexploited jewel of the Arabian Sea, is located on the eastern coast of the United Arab Emirates. Its area is about 1,450 square kilometres and has a distinctive landscape of mountains, plains, sea coast and desert. The main cities and villages in Fujairah are Dibba, Murbeh, Qidfa, Al Bidiyah, Masafi and Al-Siji.

Fujairah has much to offer. This small community today enjoys modern facilities and conveniences, and is linked by modern highways to all major cities in the UAE.

Fujairah is a mere 90-minute drive from Sharjah, under two hours from Dubai, and just three and a half hours from Abu Dhabi. Exploring the mountains, discovering ancient and modern Arabian culture and water sports are some attractions.

The strategic position of Fujairah on the Gulf of Oman and the Arabian Sea, as an eastern gateway for the UAE provides many numerous economic and commercial advantages to investors. Most important of these advantages are the shipping, sea and air lines and land routes.

The Fujairah Free Zone is one of these major utilities that played an effective role in establishing many industrial and investment projects as a result of the advantages and facilities it offered.

History

The Fujairah Free Zone was established on the instructions of His Highness Shaikh Hamad Bin Mohammad Al Sharqi, Member of the Supreme Council and Ruler of Fujairah. The intention was to create a developed industrial base that depends on the exploitation of local, natural resources and raw materials and encourages foreign investments and capital to participate in the creation of varied sources of income.

According to Emiri decree No. 6 of 1987, the Zone was established on November 28, 1987. An independent government board was formed to run the affairs of the zone and to win full confidence of the investors by offering guarantees in accordance with the established controls and laws.

Details

Investors can submit their requirements by filling in an application form. Initial approval will be granted on reviewing the form and relevant documents. The licence will be issued within a maximum of 48 hours upon final agreement on the terms and conditions of the contract and the fulfilling of the first year's financial commitments (premises rent, licensing fees and Fujairah Chamber of Commerce registration).

Investors leasing trading offices or pre-built units can take over the premises with immediate effect upon the issuance of the license. However, investors signing contracts to construct a customised building can also utilise free zone facilities to prepare their manufacturing units during the period of construction.

The cost of land depends on the area chosen. The approximate price is Dh10 to Dh12 per square metre. Except for liquor and cigarettes, the maximum customs duty of 4 per cent are applicable on all
commodities.

There are no minimum capital requirements for setting up a company in the free zone, except when registering for FZE and FZC in which case the minimum paid-up capital should be Dh150,000. However, the Government or Fujairah Free Zone Authority will not provide financial assistance for the projects in the Free Zone. Funding can be arranged through private sources.

Services

The Fujairah Free Zone offers multiple access to neighbouring and global markets by land, sea and air. It offers a variety of investment fields, investor-oriented policies and efficient and cost-effective investment facilitation.

It offers full investment security and is served by Fujairah Port and the Fujairah International Airport.

- Courtesy: www.fujairahfreezone.com