Business Setup In Hamriyah Free Zone Authority (HFZA)
Business Setup In Hamriyah Free Zone Authority (HFZA)
Welcome to Hamriyah Free Zone Authority (HFZA) in Sharjah, UAE!
At Prodigy Corporate Services, we are proud to provide comprehensive business setup solutions, and we’re delighted to introduce you to the remarkable opportunities offered by Hamriyah Free Zone Authority (HFZA). As a leading business setup company in Dubai, UAE, we are here to guide and support you through every step of establishing your business in this dynamic free zone.
Hamriyah Free Zone Authority (HFZA) is a premier business hub located in the heart of Sharjah, UAE. With its strategic location, state-of-the-art infrastructure, and business-friendly environment, HFZA has become a sought-after destination for global investors and entrepreneurs.
Hamriyah Free Zone Authority as your business base, you gain access to numerous advantages and benefits.
- Strategic Location: Situated at the crossroads of major international trade routes, HFZA provides unparalleled connectivity to global markets. Its proximity to international airports, seaports, and highways ensures efficient logistics and seamless business operations.
- World-Class Infrastructure: HFZA offers modern and well-equipped facilities that cater to diverse industries. From warehouses and offices to industrial land and manufacturing units, you’ll find a wide range of infrastructure options tailored to meet your specific business requirements.
- Business-Friendly Environment: HFZA is renowned for its pro-business policies and investor-friendly regulations. As a free zone, it provides 100% foreign ownership, 100% repatriation of capital and profits, and exemption from personal and corporate taxes. These incentives foster a thriving business ecosystem that encourages innovation, growth, and success.
- Industry Focus: HFZA caters to a diverse range of industries, including manufacturing, logistics, trading, oil and gas, maritime, and more. Whatever your business niche, HFZA offers a supportive environment and specialized infrastructure to help you thrive in your sector.
At Prodigy Corporate Services, we understand the unique needs of businesses seeking to establish a presence in Hamriyah Free Zone Authority. Our experienced team of professionals possesses in-depth knowledge of the local regulations, processes, and requirements, ensuring a seamless and hassle-free setup process for your company.
From company registration and licensing to visa processing and corporate services, we offer end-to-end solutions tailored to your specific needs. Our goal is to empower you to focus on your core business while we take care of the administrative and legal aspects of your setup.
What is the Process Hamriyah Free Zone Authority (HFZA)
The process of setting up a business in Hamriyah Free Zone Authority (HFZA) typically involves several steps. Here’s an overview of the process:
- Initial Inquiry: The first step is to express your interest in setting up a business in HFZA. You can reach out to the HFZA authorities or consult with a business setup company like Prodigy Corporate Services to gather information and clarify any queries you may have.
- Business Plan and Documentation: Prepare a comprehensive business plan outlining your company’s activities, products/services, financial projections, and other relevant details. You will also need to gather the required documentation, such as passports of shareholders and managers, proof of address, and educational certificates.
- Application Submission: Submit your application to HFZA along with the necessary documents. It’s important to ensure that your application is complete and accurate to avoid any delays in the process.
- Facility Selection: Once your application is accepted, you can choose the type of facility that suits your business requirements. HFZA offers various options, including offices, warehouses, land plots, and pre-built units. Consider factors such as size, location, and infrastructure when making your selection.
- Licensing and Registration: After finalizing the facility, you will proceed with obtaining the necessary licenses and registrations. This includes obtaining an industrial or commercial license, depending on your business activities. HFZA authorities will guide you through the specific requirements and documentation needed for the licensing process.
- Lease Agreement and Payments: Sign a lease agreement for your chosen facility and pay the required fees, including the setup fee, annual rent, and security deposit. Ensure that you carefully review the terms and conditions outlined in the agreement before signing.
- Visa Processing: If you require visas for your shareholders, managers, or employees, you can initiate the visa processing once the licensing and leasing formalities are completed. This involves submitting the required documents, medical tests, and passport details to the relevant authorities for visa issuance.
- Company Formation and Commencement: With the licenses, facility, and visas in place, you can proceed with the final steps of company formation. This includes opening a corporate bank account, registering for employee benefits, and fulfilling any additional requirements specific to your business activities.
It’s important to note that the process may vary depending on the nature of your business, the type of license you require, and any specific requirements set by HFZA. Working with a business setup company like Prodigy Corporate Services can help streamline the process and ensure compliance with all necessary procedures.
What are the Documents required to get the Hamriyah Free Zone Authority (HFZA)
To get started with the business setup process in Hamriyah Free Zone Authority (HFZA), you will need to provide several documents. Here’s a list of commonly required documents:
- Application Form: The application form is provided by HFZA and should be duly filled out with accurate information.
- Business Plan: A comprehensive business plan that outlines your company’s activities, products/services, target market, marketing strategies, and financial projections.
- Passport Copies: Clear copies of passports for all shareholders, directors, and managers involved in the company setup process.
- Passport-Sized Photographs: Recent passport-sized photographs of all shareholders, directors, and managers.
- Proof of Address: Documents that verify the residential address of the shareholders, directors, and managers, such as utility bills or bank statements.
- Educational Certificates: Copies of educational certificates or qualifications for shareholders, directors, and managers.
- Company Name Options: Provide a list of preferred company names in order of preference. HFZA will check the availability of the names during the name reservation process.
- Share Capital Details: Information regarding the proposed share capital of the company, including the number of shares and their respective values.
- Bank Reference Letter: A reference letter from the shareholder’s or director’s bank, confirming the account holder’s good standing and financial stability.
- Existing Company Documents (if applicable): If the shareholder or director is an existing company, additional documents may be required, such as the Certificate of Incorporation and Memorandum of Association of the existing company.
- No Objection Certificate (NOC): In the case of a shareholder or director being employed elsewhere, a No Objection Certificate from their current employer may be necessary.
It’s important to note that the specific document requirements may vary based on the type of company, the activities being conducted, and other factors. It’s recommended to consult with HFZA or a reputable business setup company like Prodigy Corporate Services to ensure you have the correct and up-to-date list of documents required for your specific business setup.
What is the cost of Hamriyah Free Zone Authority (HFZA)
- Setup Fee: The setup fee for establishing a company in HFZA can range from AED 9,000 to AED 15,000, depending on the type of business and facility chosen.
- Licence Fee: The licence fee for obtaining an industrial, commercial, or service licence in HFZA can range from AED 6,000 to AED 12,000, depending on the nature and scope of your business activities.
- Facility Rental: The cost of renting a facility in HFZA will vary based on factors like the size, location, and type of facility. Office spaces can range from AED 20,000 to AED 100,000 per year, while warehouse rentals can range from AED 25,000 to AED 300,000 per year.
- Visa Fees: The fees associated with visa processing, medical tests, Emirates ID, and other related services for shareholders, directors, employees, or dependents can range from AED 3,000 to AED 8,000 per person, depending on the type and duration of the visa.
- Renewal Fees: The annual renewal fees for licences and facilities in HFZA will vary depending on the type of licence, facility, and services utilised. The renewal fees can range from AED 4,000 to AED 12,000.
- Additional Services: The cost of additional services such as accounting, legal, or PRO (Public Relations Officer) services will depend on the specific requirements of your business. These services can range from AED 2,000 to AED 10,000 or more, depending on the complexity of the assistance required.
FAQ'S
Frequently Asked Questions
What are the advantages of setting up a business in Hamriyah Free Zone Authority?
HFZA offers several advantages, including 100% foreign ownership, 100% repatriation of capital and profits, exemption from personal and corporate taxes, modern infrastructure, strategic location, and access to a skilled workforce.
What types of licenses are available in HFZA?
HFZA offers various types of licenses, including industrial, commercial, and service licenses. The specific license required depends on the nature of your business activities.
Can I operate my business outside HFZA with a license obtained from HFZA?
No, the licenses obtained from HFZA are specifically for operating within the free zone. If you wish to conduct business outside HFZA, you would need to set up a separate entity or branch in the desired location.
Can I have a local sponsor or partner for my business in HFZA?
No, HFZA does not require a local sponsor or partner. Foreign investors can have 100% ownership of their businesses in the free zone.
What is the process for hiring employees in HFZA?
To hire employees, you would need to apply for work visas through the HFZA authorities. The specific process includes submitting required documents, medical tests, and obtaining work permits for your employees.
Can I apply for multiple visas for my employees in HFZA?
Yes, you can apply for multiple visas based on your business requirements and the size of your company. The number of visas will depend on the size of the facility and the business activity.
Are there any restrictions on doing business in HFZA?
While HFZA offers a business-friendly environment, there may be specific regulations or restrictions depending on the type of business activity. It’s advisable to consult with HFZA or a business setup company to understand any specific requirements or limitations for your industry.
Can I establish a branch or subsidiary of an existing company in HFZA?
Yes, HFZA allows the establishment of branch offices and subsidiaries of existing companies. You will need to provide the required documentation and comply with the relevant regulations.
How long does the business setup process in HFZA typically take?
The timeline for business setup in HFZA can vary depending on factors such as the type of business, completeness of documentation, and regulatory processes. On average, it may take a few weeks to a couple of months to complete the setup process.
Can I lease or sell my facility in HFZA to another company?
Yes, you can lease or sell your facility in HFZA to another company, subject to the approval and regulations of HFZA.
TESTIMONIALS
What Our Cutomers are Saying About us
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