Virtuzone Reviews

[kashaziz]

Today I have visited GiTex and there was a stall by Fujairah Free Zone Authority. Their representative told me that they are the only one responsible for issuing licenses in Free Zone and have no representation anywhere in UAE. He was totally unaware of Virtuzone. He thought they might be some kind of agents, bringing clients to the Free Zone Authority.

He also said that the client has to come to Fujairah for fingerprints and immigration processing as the visa will be issued from there. This is contrary to what Virtuzone is saying.

Virtuzone may not be dubious but they aren't transparent either. I am confused.

[Phillipa Mauger]

I am currently trying to find out which of these 2 freezones are better to set up business in.
Does anyone know if you are required to have an NOC with either of these zones? My husband is part of the free zone currently and still in probation period with a companty , he wants to leave and open up in free zone.
If we dont require any additional services like office space, telephone, internet etc etc, only the license and visa's, does anyone know if the costs will be reduced or do that charge a flat fee no matter what?

Please help!

Thanks
Phillipa

[incommunicated]

Originally Posted by kashaziz

Hello,

I am evaluating various Free Zone setups and have found two that seems to be top of the line, that are, RAK FTZ and Virtuzone. Out of these Virtuzone has its advantages with no capital limit (RAK requires minimum of 100K Dhs) and monthly fees.

I would like to know if members of this forum have used Virtuzone, and what are their comments about it. I would like to know if they require annual audits (like RAK) and are there any hidden costs/ issues with them?

Thanks.

Kashif

Two years after...
I am in the same position trying to figure out how it all works and thinking it will be either VirtuZone or RAK. What I like about Virtuzone is that they have an office in JBR and what I do not like is that I can not find a FTZ with that name...

Which is the best placve to set uo shop to get a business licennse and a residence permit?
Recidence is my first priority at this time.

[xchaos777]

Originally Posted by incommunicated

Two years after...
I am in the same position trying to figure out how it all works and thinking it will be either VirtuZone or RAK. What I like about Virtuzone is that they have an office in JBR and what I do not like is that I can not find a FTZ with that name...

Which is the best placve to set uo shop to get a business licennse and a residence permit?
Recidence is my first priority at this time.

I went to visit Virtuzone at the office in JBR. They were professional enough but decided I didn't want to pay the monthly fees for services I wouldn't use. Ended up with RAK and the process was easy and straight forward. I haven't processed residency visa yet as I am not in country permanently at this point. However, others have said it was quick and painless.

I had heard that through Virtuzone this part of the process for residency was quite a bit longer than quoted, but still accomplished. This is probably due to the "third" party type set up they have with the free zone and maybe less connections to manage the process. But, again, I don't have first hand knowledge of this so your mileage may vary.

In the end, it comes down to this: if you have the 100k for the initial setup, RAK seemed better to me. If not, then Virtuzone as long as you don't mind the monthly fees. Virtuzone will be more expensive in the end due to the fees, but not greatly so.

[fsharp]

You don't have to go through Virtuzone, you can setup your company directly with Fujairah Media (see .:: Fujairah Creative City ::.)

[xchaos777]

Originally Posted by fsharp

You don't have to go through Virtuzone, you can setup your company directly with Fujairah Media (see .:: Fujairah Creative City ::.)

Yes, this is true, but the cost is about the same as Virtuzone in the end...just a bit more upfront with no monthly requirement.

[aarond.bennett]

Hi Kashaziz

Please can you keep me updated on this, I am very interested in the Virtuzone and setting up an online business there. My only concern is if I setup business in Virtuzone or RAK, I am not legally allowed to do business outside of that FZ?

Can you maybe clarify this?

[xchaos777]

Originally Posted by aarond.bennett

Hi Kashaziz

Please can you keep me updated on this, I am very interested in the Virtuzone and setting up an online business there. My only concern is if I setup business in Virtuzone or RAK, I am not legally allowed to do business outside of that FZ?

Can you maybe clarify this?

This depends on the type of business you set up. You can consult, etc. to any company in the UAE, freezone, or world really. You cannot trade directly without the correct license and also paying the import/export duties to companies outside the freezone you are in.

It is purely based on the type of business you want to set up. There are numerous types and you need to consult RAK, Virtuzone, FZ, etc. to determine this properly.

[incommunicated]

Originally Posted by fsharp

You don't have to go through Virtuzone, you can setup your company directly with Fujairah Media (see .:: Fujairah Creative City ::.)

Is Vistuzone just an intermediary for Fujairah Creative City?
Just when I thought I was starting to understand

I just want to set up as a Web development company not really doing business in Dubai and hire myself to gain residence. Which is my best option for that?

[xchaos777]

Originally Posted by incommunicated

Is Vistuzone just an intermediary for Fujairah Creative City?
Just when I thought I was starting to understand

I just want to set up as a Web development company not really doing business in Dubai and hire myself to gain residence. Which is my best option for that?

Any of these options will work. Just set up something somewhat generic such as a consultancy company. You will just need a business license, not a trade license. As I mentioned, I set up through RAK. It is a pretty painless procedure.