{"id":2463,"date":"2018-07-01T05:00:30","date_gmt":"2018-07-01T05:00:30","guid":{"rendered":"https:\/\/virtuzone.com\/blog\/why-creative-city-great-option\/"},"modified":"2022-08-31T11:43:39","modified_gmt":"2022-08-31T07:43:39","slug":"why-creative-city-great-option","status":"publish","type":"post","link":"https:\/\/virtuzone.com\/blog\/why-creative-city-great-option\/","title":{"rendered":"Why Creative City is a great option"},"content":{"rendered":"<p>Sometimes, <a href=https://virtuzone.com/"https:////virtuzone.com//blog//business-opportunities-in-dubai///">business innovation<\/a> is about producing a newer, better version of an existing product or service. Other times, it\u2019s about entirely reinventing your business model. Indeed, a Harvard Business Review article on the topic argues that \u201cgreat business models can reshape industries and drive spectacular growth.\u201d If your company spots a new market opportunity, and shifts its operations to adapt to that opportunity, the growth potential can be huge.<\/p>\n<p>Generally <a href=https://virtuzone.com/"https:////virtuzone.com//the-9-keys-to-unlocking-great-public-speaking///">speaking<\/a>, the UAE offers a very friendly environment to entrepreneurs (it ranks 6th in the world for expat entrepreneurs, according to HSBC), yet one area that can be a challenge is when businesses see an opportunity to shift their business model. In much of the UAE, a company must carry out the activities stated on its <a href=https://virtuzone.com/"https:////virtuzone.com//blog//home-business-licence-in-dubai///">business license<\/a>. If you want to branch out into a new area, you will normally have to apply for a \u2018dual license\u2019, which can be expensive and time-consuming to acquire.<\/p>\n<p>But not everywhere.<\/p>\n<p>Fujairah\u2019s Creative City <a href=https://virtuzone.com/"https:////virtuzone.com//blog//what-is-a-free-zone///">free zone<\/a> offers entrepreneurs the ability to combine more than one kind of business activity under the same license at no extra cost. So, what is Creative City, and how would this work?<\/p>\n<blockquote><p><em>Fujairah\u2019s Creative City free zone offers entrepreneurs the ability to combine more than one kind of business activity under the same license at no extra cost.<\/em><\/p><\/blockquote>\n<h3><strong>Introducing Creative City<\/strong><\/h3>\n<p>Creative City is located in Fujairah, in the east of the UAE and about 90 minutes from Dubai. The <a href=https://virtuzone.com/"https:////virtuzone.com//blog//free-zone-visa-dubai///">free zone<\/a> was launched in 2007 and provides a business environment for a wide range of activities \u2013 anything from education to trading, event management to publishing, consultancy to broadcasting.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" size-full wp-image-2461\" src=https://virtuzone.com/"https:////dev-virtuzone-dev.pantheonsite.io////wp-content//uploads//2018//07//inline-images_Image-C-1-2.jpg/" alt=\"Blog\" width=\"2508\" height=\"1672\" data-entity-type=\"file\" data-entity-uuid=\"64625359-bf85-465f-b1b1-3f68122bc6f4\" srcset=\"https:\/\/dev-virtuzone-dev.pantheonsite.io\/\/wp-content\/uploads\/2018\/07\/inline-images_Image-C-1-2.jpg 2508w, https:\/\/dev-virtuzone-dev.pantheonsite.io\/\/wp-content\/uploads\/2018\/07\/inline-images_Image-C-1-2-1280x853.jpg 1280w, https:\/\/dev-virtuzone-dev.pantheonsite.io\/\/wp-content\/uploads\/2018\/07\/inline-images_Image-C-1-2-980x653.jpg 980w, https:\/\/dev-virtuzone-dev.pantheonsite.io\/\/wp-content\/uploads\/2018\/07\/inline-images_Image-C-1-2-480x320.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) and (max-width: 1280px) 1280px, (min-width: 1281px) 2508px, 100vw\" \/><\/p>\n<p>Creative City offers all the typical benefits of setting up in a <a href=https://virtuzone.com/"https:////virtuzone.com//2018//04//22//what-is-a-free-zone-and-why-should-you-consider-one-for-your-company-setup///">UAE free zone<\/a>, including:<\/p>\n<ul>\n<li>Easy sponsorship of dependants<\/li>\n<li>Fast and simple bank account <a href=https://virtuzone.com/"https:////virtuzone.com///">setup<\/a><\/li>\n<li>Multiple shareholders allowed<\/li>\n<li>0% tax rate<\/li>\n<li>100% repatriation of capital and profits<\/li>\n<li>No obligatory auditing<\/li>\n<\/ul>\n<p>To set up a business in Creative City, you would need to follow the standard procedure when launching a business in a UAE free zone:<\/p>\n<ol>\n<li>Choose your business activity<\/li>\n<li>Finalise your company name<\/li>\n<li>Finalise paperwork and submit your application<\/li>\n<li>Have license approved and open your bank account<\/li>\n<li>Proceed to visa processing<\/li>\n<\/ol>\n<h3><strong>Your original UAE business license can be a barrier to change your business model<\/strong><\/h3>\n<p>When launching a company in the UAE, you are required to choose one of the following three types of license when setting up your company:<\/p>\n<p><strong>1. Commercial:<\/strong> For any kind of <a href=https://virtuzone.com/"https:////virtuzone.com//2017//07//20//general-trading-license-dubai-uae///">trading activity<\/a> \u2013 be that the standard trading license (where you import\/export one type of product) or general trading license (where you can import\/export a variety of products).<\/p>\n<p><strong>2. Professional:<\/strong> Any activities which involve professional services, such as consulting, legal or medical.<\/p>\n<p><strong>3. Industrial:<\/strong> This license is reserved for any kind of manufacturing and industrial activities.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" size-full wp-image-2462\" src=https://virtuzone.com/"https:////dev-virtuzone-dev.pantheonsite.io////wp-content//uploads//2018//07//inline-images_Image-C-2-4_0.jpg/" alt=\"Blog\" width=\"2508\" height=\"1672\" data-entity-type=\"file\" data-entity-uuid=\"c9b16f71-6c74-466d-b6e1-202e905d88a6\" srcset=\"https:\/\/dev-virtuzone-dev.pantheonsite.io\/\/wp-content\/uploads\/2018\/07\/inline-images_Image-C-2-4_0.jpg 2508w, https:\/\/dev-virtuzone-dev.pantheonsite.io\/\/wp-content\/uploads\/2018\/07\/inline-images_Image-C-2-4_0-1280x853.jpg 1280w, https:\/\/dev-virtuzone-dev.pantheonsite.io\/\/wp-content\/uploads\/2018\/07\/inline-images_Image-C-2-4_0-980x653.jpg 980w, https:\/\/dev-virtuzone-dev.pantheonsite.io\/\/wp-content\/uploads\/2018\/07\/inline-images_Image-C-2-4_0-480x320.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) and (max-width: 1280px) 1280px, (min-width: 1281px) 2508px, 100vw\" \/><\/p>\n<p>Now, if you initially set up your business with a standard commercial license to import a product, but then decided you wanted to offer consulting services on the side, you would normally be obliged to register and pay for a dual license that would also cover the professional license required for consulting businesses. This is something of a barrier to innovation and can be off-putting, especially for <a href=https://virtuzone.com/"https:////virtuzone.com//blog//how-to-start-a-business-in-a-dubai-free-zone///">smaller businesses.<\/a><\/p>\n<p>And this is why Creative City\u2019s approach to general trading company licenses is so appealing. At Creative City, businesses that have chosen a general trading license are allowed to combine general trading activities with other services, such as consultancy or training. Let\u2019s see how a <a href=https://virtuzone.com/"https:////virtuzone.com//blog//small-business-ideas-in-uae///">small business<\/a> could take advantage of this opportunity.<\/p>\n<h3><strong>Example: how you could take advantage of Creative City\u2019s approach to the general trading license<\/strong><\/h3>\n<p>Say your background was in the interior design sector, and you decided to launch an interior design materials company in the UAE. Some of your business would involve importing materials which would be essential for running the business, and so a general trading commercial license would almost certainly be the best option.<\/p>\n<p>The business is a success and you soon get approached by a number of people who would love to learn from your expertise in the industry, and this sparks an idea \u2013 to set up a training school for interior designers.<\/p>\n<p>However, in much of the UAE, your initial business license would prohibit you from launching this potentially lucrative new model as you would not be licensed to provide any kind of educational services. To launch the business, you\u2019d need to apply and pay for a dual license \u2013 which can be expensive and inefficient.<\/p>\n<blockquote><p><em>To launch the business, you\u2019d need to apply and pay for a dual license \u2013 which can be expensive and inefficient.<\/em><\/p><\/blockquote>\n<p>And this is why Creative City\u2019s general trading license is so special. As long as your original business idea and the new activity are permitted to be carried out in Creative City, there really is no barrier to diversifying your business and tapping into new opportunities.<\/p>\n<p><strong>Exploit new opportunities easily with Fujairah Creative City<\/strong><\/p>\n<p>When your business can rapidly respond to new market opportunities by changing its model or approach, you tap into potentially endless markets.\u00a0Fujairah\u2019s Creative City free zone is rare in the UAE in that its \u2018general trading license\u2019 allows you to explore new avenues for growth which would normally require a different trading license.<\/p>\n<p>It\u2019s just one less barrier to innovation, and one more reason to choose Fujairah Creative City.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sometimes, business innovation is about producing a newer, better version of an existing product or service. Other times, it\u2019s about entirely reinventing your business model. Indeed, a Harvard Business Review article on the topic argues that \u201cgreat business models can reshape industries and drive spectacular growth.\u201d If your company spots a new market opportunity, and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2464,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[555],"tags":[],"class_list":["post-2463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-free-zones"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.2 (Yoast SEO v25.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why Creative City is a great option - Virtuzone<\/title>\n
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