Business setup in Sharjah Free Zones
Business setup in Sharjah Free Zones
Welcome to Prodigy Corporate Services, your trusted partner for business setup in Sharjah Free Zones. Our team of experienced professionals is committed to providing end-to-end solutions to help you establish your business in the most efficient and cost-effective manner.
Sharjah Free Zones offer a host of advantages for entrepreneurs and businesses, including tax exemptions, 100% foreign ownership, and world-class infrastructure. With our expertise and knowledge of the local market, we can guide you through the process of selecting the best Free Zone for your business, obtaining licenses, and setting up your operations.
We understand that every business is unique, and that’s why we offer customized solutions tailored to your specific needs. Our services include company formation, PRO services, visa assistance, accounting and bookkeeping, and more. Whether you’re a startup or an established business, we have the expertise and resources to help you succeed.
At Prodigy Corporate Services, we believe in delivering exceptional customer service and building long-term relationships with our clients. Our goal is to make the process of setting up your business in Sharjah Free Zones as smooth and hassle-free as possible, so you can focus on growing your business.
Contact us today to learn more about our services and how we can help you achieve your business goals in Sharjah Free Zones.
What is the Process to register a company in Sharjah Free Zones
Starting a company in Sharjah Free Zones is a straightforward process that can be completed in a few simple steps. Here’s a general overview of the process:
- Choose a business activity: The first step is to decide on the type of business activity you want to undertake. Sharjah Free Zones offer a wide range of activities across various sectors, including trading, manufacturing, services, and more.
- Choose a Free Zone: There are several Free Zones in Sharjah to choose from, each with its own set of advantages and regulations. Research and compare the Free Zones to find the one that best suits your business needs.
- Select a legal entity: You can choose to set up a new company or establish a branch of an existing company in Sharjah Free Zones. The legal entity you choose will depend on your business goals and requirements.
- Register your company: Once you have chosen your business activity, Free Zone, and legal entity, you need to register your company with the relevant authorities. This involves submitting the required documents and obtaining necessary licenses and permits.
- Obtain visas: If you plan to hire employees, you will need to obtain visas for them to work in the UAE. Sharjah Free Zones offer visa services to help you with this process.
- Open a bank account: You will need to open a bank account for your company in the UAE to carry out transactions and receive payments.
At Prodigy Corporate Services, we can guide you through each step of the process and ensure that your company is set up in compliance with all the relevant laws and regulations. Contact us today to learn more about our business setup services in Sharjah Free Zones.
What are the Documents required to register a company in Sharjah Free Zones
The documents required to start a company in Sharjah Free Zones may vary depending on the type of business activity, legal entity, and Free Zone you choose. However, some common documents that are typically required include:
- Passport copies of shareholders and managers
- A business plan outlining your company’s objectives and operations
- Proof of share capital deposit
- Lease agreement for office or warehouse space in the Free Zone
- Company formation application form
- Power of Attorney (POA) if you engage a company formation agency to act on your behalf
- Memorandum and Articles of Association (MOA) and board resolution
- Bank reference letter and bank account details
- Trade name reservation certificate
- No-Objection Certificate (NOC) from your current sponsor if you are already residing in the UAE
Additionally, you may be required to submit additional documents depending on the nature of your business and the Free Zone’s regulations. It is recommended to consult with a business setup service provider or legal expert to ensure that all the necessary documents are in order and comply with the relevant laws and regulations.
Advantages of registering a company Sharjah Free Zones
Starting a company in Sharjah Free Zones offers numerous advantages for entrepreneurs and businesses, including:
- 100% foreign ownership: Companies in Sharjah Free Zones can be fully owned by foreign nationals or entities, without the need for a local sponsor or partner.
- Tax exemptions: Companies in Sharjah Free Zones are exempt from corporate and personal income taxes, as well as import and export duties.
- World-class infrastructure: Sharjah Free Zones offer modern infrastructure and facilities, including office spaces, warehouses, and logistics services, which can help businesses operate more efficiently and cost-effectively.
- Strategic location: Sharjah is strategically located between Europe, Asia, and Africa, making it an ideal hub for businesses looking to access markets in these regions.
- Easy company setup: The process of setting up a company in Sharjah Free Zones is streamlined and straightforward, with minimal bureaucracy and fast registration times.
- Access to skilled workforce: Sharjah has a diverse and highly skilled workforce, with a large pool of multilingual professionals and technicians available.
- Wide range of business activities: Sharjah Free Zones offer a wide range of business activities across various sectors, including manufacturing, trading, services, and more.
- Simplified visa procedures: Sharjah Free Zones offer simplified visa procedures, making it easier for companies to sponsor and bring in skilled foreign workers.
Overall, starting a company in Sharjah Free Zones can provide businesses with a competitive advantage and help them succeed in the global marketplace.
What is the exact Cost to start a company in Sharjah Free Zones in AED?
The exact cost of starting a company in Sharjah Free Zones can vary depending on various factors such as the type of business activity, legal structure, and the Free Zone chosen. However, here are some of the typical costs associated with setting up a company in Sharjah Free Zones:
- Company registration and licensing fees: The fees for registering a company and obtaining a trade license in Sharjah Free Zones can range from AED 5,000 to AED 15,000.
- Office and warehouse rent: The cost of renting an office or warehouse space in Sharjah Free Zones can vary depending on the size and location, but typically range from AED 20,000 to AED 60,000 per year.
- Visa fees: Companies in Sharjah Free Zones are required to sponsor their employees’ residency visas, which can cost around AED 5,000 per person.
- Other costs: Other costs associated with setting up a company in Sharjah Free Zones may include legal fees, company formation agent fees, bank account opening fees, and other miscellaneous expenses.
It’s important to note that the exact costs may vary depending on the specific requirements of your business. It’s recommended to consult with a business setup service provider to get an estimate of the total costs involved in starting a company in Sharjah Free Zones.
How Many Free Zones are there in Sharjah, UAE, and What are their Names?
Here is a list of the free zones located in Sharjah, UAE, along with brief descriptions of each:
- Sharjah Airport International Free Zone (SAIF Zone): SAIF Zone is one of the most prominent free zones in Sharjah, conveniently located near Sharjah International Airport. It offers a range of facilities and services to support diverse industries, including logistics, trading, manufacturing, and services.
- Hamriyah Free Zone Authority (HFZA): HFZA is the second largest free zone in the UAE and is situated on the west coast of Sharjah. It provides an ideal environment for industrial and commercial enterprises, offering modern infrastructure, warehousing facilities, and access to world-class ports.
- Sharjah Publishing City Free Zone (SPC Free Zone): SPC Free Zone is dedicated to the publishing and printing industry, attracting publishers, authors, and other related businesses. It offers advanced infrastructure, comprehensive services, and a supportive regulatory framework tailored specifically for the publishing sector.
- Sharjah Media City Free Zone (Shams): Shams is a progressive free zone designed for the creative and media industries. It aims to nurture talent and innovation, offering a dynamic environment for startups, entrepreneurs, and established businesses involved in advertising, broadcasting, film production, and digital media.
- Sharjah Research, Technology, and Innovation Park (SRTI Park): SRTI Park is a hub for research, technology, and innovation-driven enterprises. It provides state-of-the-art infrastructure, research facilities, and collaboration opportunities to promote scientific advancements, technological innovation, and knowledge-based industries.
Each free zone in Sharjah has its own unique advantages and target industries. Depending on your business requirements and activities, you can choose the most suitable free zone that aligns with your goals.
FAQ'S
Frequently Asked Questions
What is the minimum share capital requirement to set up a company in Shams?
Shams does not have a specific minimum share capital requirement. However, it’s important to note that the share capital should be sufficient to cover the intended business activities and operational needs of the company.
Can I have multiple business activities under one license in Shams?
Yes, Shams allows multiple business activities to be conducted under a single license. This provides flexibility for entrepreneurs and businesses to engage in diverse activities within the permitted sectors.
Can I apply for a visa through Shams for myself and my employees?
Yes, Shams facilitates the visa application process for investors, shareholders, and their employees. They offer visa services and can guide you through the requirements and procedures involved.
Can I rent office space on a short-term basis in Shams?
Yes, Shams offers flexi-desk options and short-term office space rentals to accommodate the needs of businesses. This provides flexibility for startups, freelancers, or businesses that require temporary office arrangements.
Can I operate my business outside the Shams premises?
Shams requires businesses to have a physical presence within the free zone. However, certain activities, such as consultancy or e-commerce, may have specific arrangements for remote operations. It’s best to check with Shams for the specific requirements related to your business activity.
Can I transfer my existing company to Shams from another free zone or jurisdiction?
Yes, it is possible to transfer an existing company to Shams from another free zone or jurisdiction. The specific requirements and procedures for company transfers may vary, and it’s recommended to consult with Shams or a professional service provider for assistance with the transfer process.
Can I apply for a Shams licence if I am not physically present in the UAE?
Yes, you can apply for a Shams license even if you are not physically present in the UAE. Shams provides remote company setup services, allowing entrepreneurs to initiate the process from overseas. However, certain documentation and procedures may require your physical presence or the assistance of a representative.
Are there any restrictions on hiring employees from outside the UAE in Shams?
Shams allows businesses to hire employees from outside the UAE. However, certain visa and immigration regulations apply, and it’s advisable to consult with Shams or a professional service provider for specific requirements and procedures.
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