Setting up a business in Sharjah Free Zone is a sensible option if it is a new business or you wish to expand your existing business. Although starting a business is a complex task, a city like Sharjah could be an ideal location for you to take baby steps in your enterprise.
The Free Zone in Sharjah has established itself as a logistics and maritime trading hub in the UAE, strategically placed between Asia, Europe, and Africa so you can trade and meet certain requirements of investors.
Business setup in this region is possibly an affordable alternative. Sharjah free zones are quite popular as they provide attractive facilities such as well-developed infrastructure and low rents with the issuance of the license. Sharjah Free Zones in UAE makes company formation simple and also offers 100% foreign ownership, tax exemptions, and other business-friendly benefits.
Is Sharjah Free Zone the ideal region to set up your business? Then, do not delay in consulting with BMS to navigate you on the right path! The experienced team at BMS has hands in all aspects of business setup in the Free Zones of the UAE.
Let us look at the Business setup in Sharjah Free Zone in detail.
Benefits of Starting a Business in Sharjah Free Zone
- Total exemption from corporate or personal income taxes
- 100% ownership for foreign investors
- Adaptable regulations
- 100% exemption on imports and exports
- Investment security
- Affordable rates on leasing
- Can accommodate onsite labor
- Eliminates currency barriers
- Has local as well as foreign banks
- Easily access big ports and Sharjah International Airport
Licenses for Business Setup in Sharjah Free Zone
For every business, you need to obtain the corresponding license, which makes your business legal. For a business license, you should decide the business activity to conduct. Business activity determines the number of licenses you require.
Following are the license types implemented in the Sharjah Free Zone:
Commercial License
This license is provided to companies that involve trading, buying, or selling goods, Issued by the Free Zone Authorities. Some examples are Logistics, Car Rental, and Real Estate.
Trading License
This license is issued when a business involves industrial and manufacturing activities. Here, you require a physical office in the UAE Free Zone if you own this license. Some of the activities included under this license are- Food products, manufacturing of furniture, packaging, etc.
Professional License
This license is issued to companies providing services for various businesses. Examples of such businesses that require professional licenses are- Artisans, Law firms, Medical Services, etc.
Let us look at each Free Zone in detail.
Business Setup in Sharjah Free Zones in UAE
Sharjah regions are highly advantageous as it fulfills the sea-route trades since these are situated on the Persian Gulf and the Gulf of Oman. You would either set up a business in the media and entertainment industry, consultancy, or marine-related domain, or it could be in the IT industry, irrespective of these, Sharjah satisfies all your business needs.
Major Free Zones in Sharjah
Here are the major Free Zones in Sharjah:
- Sharjah Media City Free Zone (SHAMS)
- Hamriyah Free Zone Authority (HFZA)
- Sharjah Airport International Free Zone (SAIF)
- Sharjah Publishing City (SPC)
Sharjah Media City (SHAMS) Free Zone
This Free Zone in Sharjah is the newest in the UAE. Although it is quite younger than other free zones, you may be surprised to know that it is already tremendously growing. It may be called the Media Free Zone, however, it has much more to offer!
Sharjah includes various business activities such as trading, professional services, etc. To set up a business in SHAMS, you require at least one shareholder.
Documents Required to Start a Business in SHAMS Free Zone
- Application form
- Business strategy
- Passport copies of the owner or the application
- NOC from the sponsor
- Signature of the shareholder
Hamriyah Free Zone
This is one of the cheapest Free Zones in the UAE to set up a business. It is not just the pricing, but the competitive advantages and suitable location close to the major seaports. As a tax-free environment, you can enjoy 100% ownership with an affordable cost of living. There are no currency limits or customs duties in this Free Zone.
Documents Required to Start a Business in Hamriyah Free Zone
- Shareholders’ passport and visa copies
- Application form
- Reference from the bank
- Legal documents duly signed
Sharjah Airport International Free Zone
Also known as SAIF Zone, this is one of the premier Free Zones in the UAE. The business opportunities in the free zone offer the advantage of foreign ownership, a strategic location rich with resources, global networking, and tax benefits.
Although Sharjah holds one-third of the industrial activities, this area is not limited to industrialization or manufacturing, it is a suitable center for all types of businesses.
Documents Required to Start a Business in SAIF Zone
- Owners’ passport and visa copies
- Application form
- Summary of the project
- MOA & AOA
- Bank statements for the last 3 months
Sharjah Publishing City Free Zone
This Free Zone is located on Sheikh Mohammed Bin Zayed Road in Sharjah, a few minutes away from the Sharjah International Airport. The main objective of this free zone is to be a center where a publishing business can flourish.
BMS helps you to set up your business in Sharjah Publishing City Free Zone.
This free zone provides co-working spaces, retail chains, commercial offices, and storage services. Irrespective of your business requirements, if you belong to the publishing industry, you are in the right place!
Documents Required to Start a Business in Sharjah Publishing City Zone
- Passport copy
- Residence visa copy (if you are in the UAE)
- Copy of educational certificates of the Managers
- 2 passport-sized photographs
If the company exists outside the Sharjah Publishing City Free Zone, you need to collect the notarized and attested copies of the following during application:
- Certificate of Incorporation
- MOA (Memorandum of Association)
- Confirmation from the Board agreeing to set up the company in Sharjah Publishing City Free Zone
- Certificate of Authority (if any)
Documents Required for Business Setup in Sharjah Free Zone
- Application form
- Copy of trade license
- Passport copies of shareholders
- 2 years’ audited financial report
- NOC
Steps to Start a Business in Sharjah Free Zone
Business setup in the Sharjah Free Zone is a smooth and easy process if you rely on Business setup consultancy firm in UAE like us since business setup consultants can assist you through the complete company registration process in Sharjah Free Zone
Let us look at the steps involved in setting up a business in Sharjah Free Zone:
1. Determine the suitable free zone
First step in setting up a business is to understand the nature of your business and decide on a suitable Free zone.
2. Prepare an effective business plan
It is very important that you prepare a robust business plan that summarizes the vision of your company.
3. Choose a suitable trade name
While choosing a name for your company, you should ensure that the name does not clash with the business activity. Moreover, you must also ensure that it is not used previously or contains irrelevant words.
4. Complete the licensing process and business registrations
This is the final step that involves completing the business setup formalities with shareholders’ signatures in business setup documents and submitting any other necessary documents.
Business Setup Services in UAE
For queries or consultation regarding company formation in any of these free zones in Sharjah, <astyle="color:#ba372a; text-decoration: underline;" href="https://bmsauditing.com/" target="_blank" rel="noopener">BMS Corporate is always here to assist you and lead you on the right track, ensuring you comply with the Free Zones regulations.
BMS Corporate is your go-to solution for business setup in Sharjah and the UAE. We offer expert consulting services to help our clients navigate the complex process of starting a new business. Our experienced Business setup consultants work with you to plan and execute a successful business setup in all Sharjah free zones and throughout the UAE.
With our years of experience in business setup and a deep understanding of local regulations and business practices, we provide tailored solutions to meet the specific needs of each client. We also offer a range of services, including company formation, trade license registration, and PRO services, to name a few.
FAQs
1. Should I hire a local partner to set up my business?
No, Sharjah Free Zones enable you 100% ownership of the business
2. Can I own other companies in other Emirates using a license?
A branch or a subsidiary office can be opened with the approval of respective Authorities.
3. What are the major steps for company formation in Sharjah Free Zone?
These are the main steps for a business setup in Sharjah Free Zone:
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- Determine the type of business entity
- Choose a name for the company
- Apply for the corresponding license
- Find an office space
- Get pre-approvals, register the business, and get the license
4. Will I be imposed with any personal or corporate taxes in any of the Free Zones?
No. You will NOT be charged with personal or corporate taxes. However, being a qualifying free zone person, you must submit audited financial statements by conducting a corporate tax audit in UAE.
