What are the pros and cons of setting up a business in Fujairah Creative City?

  • 100% foreign ownership: Businesses in Fujairah Creative City can be 100% foreign-owned. This is a major advantage for foreign entrepreneurs who want to set up a business in the UAE.
  • Zero corporate and personal income tax: There is no corporate or personal income tax in Fujairah Creative City. This is another major advantage for businesses and individuals who are looking to save money on taxes.
  • 100% repatriation of capital and profits: Businesses in Fujairah Creative City can repatriate 100% of their capital and profits back to their home country. This is a major advantage for businesses that want to have full control over their finances.
  • Fast and easy business setup: The business setup process in Fujairah Creative City is fast and easy. This is a major advantage for entrepreneurs who want to start their business quickly.
  • Flexible business licenses: Fujairah Creative City offers a range of flexible business licenses to meet the needs of different types of businesses. This is a major advantage for entrepreneurs who want to choose a business license that is tailored to their specific needs.
  • Supportive ecosystem: Fujairah Creative City provides a supportive ecosystem for businesses in the creative industries, with a range of facilities and services available, such as co-working spaces, event venues, and training programs. This is a major advantage for entrepreneurs who want to be part of a supportive community of businesses.
  • Strategic location: Fujairah Creative City is located on the east coast of the UAE, giving it easy access to markets in the Middle East, Asia, and Africa. This is a major advantage for businesses that want to reach a global audience.

Cons of setting up a business in Fujairah Creative City:

  • Limited business activities: Fujairah Creative City is focused on the creative industries, so the range of business activities that are allowed is limited. This is a disadvantage for entrepreneurs who want to set up a business in a different industry.
  • High cost of living: The cost of living in Fujairah is relatively high. This can be a disadvantage for businesses that are on a tight budget.
  • Remote location: Fujairah is located on the east coast of the UAE, which is a relatively remote location. This can be a disadvantage for businesses that need to be close to the major business centers in the UAE.

Overall, the pros of setting up a business in Fujairah Creative City outweigh the cons. Fujairah Creative City is a great option for entrepreneurs who want to set up a business in the creative industries and who are looking to take advantage of the many benefits that Fujairah Creative City has to offer.

multiracial colleagues discussing work in workspace

Conclusion

Fujairah Creative City is a great option for entrepreneurs who want to set up a business in the creative industries and who are looking to take advantage of the many benefits that Fujairah Creative City has to offer. BizDaddy is a leading business consultancy firm that can help you with all aspects of setting up and operating a business in Fujairah Creative City.