Sharjah – A Brief Introduction
Sharjah is the third largest emirate of the UAE and is the only member having a coastline of both, the Persian Gulf and the Gulf of Oman. The location of Sharjah is between 3 major continents of Asia, Africa and Europe. The Judicial system is world acclaimed and the crime rate is therefore very low.
Sharjah is also considered as the shipment carrier sector of the economy. The Federal Government of the UAE has taken measures to fetch foreign investments to create more opportunities for the economy to diversify itself.
Sharjah Free Zone offers many incentives like affordable land and skilled labour to medium and small entrepreneurs. The highly developed infrastructure offers world-class amenities along with the business-friendly environment and ease of doing business.
Free Zones in Sharjah
- Hamriyah Free Zone
- Sharjah Airport International Free (SAIF) Zone
- Sharjah Publishing City Free Zone
- U.S.A. Regional Trade Center (USARTC) Free Zone
- Sharjah Media City Free Zone
Why should an investor start a business in Sharjah?
The investor is entitled to many benefits if he is willing to undertake commercial activities in Sharjah Free Zone.
Here are some of the benefits of setting up a company in Sharjah Free Zones
- 100% foreign ownership
- Full repatriation of capital and profits
- 100% tax-free business environment
- Multi-currency trading not restricted
- Availability of skilled and trained workforce
- laissez-faire policies and system
- Cost-effective land leasing rates
- Quick access to all seaports, major highways, and international airports
Business Entities Options in Sharjah
- Free Zone Sole Establishment
- Free Zone Limited Liability Company
- Branch of a local (UAE based) company
- Branch of a foreign company
Commercial licenses available at Sharjah Free Zones
Commercial license: Businesses involved in buying and selling of products. A commercial license is further categorized into two heads
- General Trading.
Professional License: Firms providing professional services, and other services, like consultancy, management, auditing and accounting services, etc. are awarded the Professional License.
Industrial License: The license allows the import of raw materials for further processing and manufacturing, packaging and export of finished products.
What is the process of the Sharjah Free Zone Company Formation?
There are certain rules and regulations for any Free Zone under which the companies are established and governed. Here are the general and common steps and to get the business registered in Sharjah Free Zone.
For Initial Approvals
- Submit a duly filled application form
- Business blueprints
- For an existing company, you need the copy of the valid license
- Coloured passport size photograph of the shareholder/manager
- Shareholder/manager valid passport photocopies
- Company’s shareholder/manager specimen signature
- No objection certificate from the current employer/sponsor
- Reference letter from the bank or Financial audited report of the corporate entity
- Letter of Intent (LOI)
- Unit title deed
- RIC form for shareholder/manager
Sharjah Company Registration
On getting the initial approval, the next we have to do is pay the required fees and register the business. The registration fees vary according to the license which has been applied for.
The documents required are:
- Duly filled application form for registration
- Board Resolution
- Power of Attorney to Shareholder/Manager
- Memorandum of Association
- Article of Association
- Specimen signature of Shareholder/Manager
- Details of Share capital
Licensing and Visa Activities
Following are the formalities to be completed to get the license and Visas:
- Land Lease agreements to be prepared by concern authority
- The business license will be then issued
- Managing Visa and immigration will then initiate.
Starting a company in Sharjah free zones denotes massive business growth. World-class infrastructure, tax exemptions, modern amenities, and free trade policy is like a dream coming true for any businessman. The process of Sharjah Free Zones Company set up is smooth but needs sharp and sincere decision making.
PMC Solutions DMCC – Business Set Up Consultant in UAE
Appointing a business set up consultant in UAE is a correct decision to do the work. PMC Solutions DMCC take care of the paperwork and documentation required for the licensing process. PMC Solutions DMCC assist the small, medium and global investors for developing their business in Sharjah Free Zone and achieve the business goals.
Our team manages the licensing formalities; Visa processing, Legal Documentation and banking facilities without letting the client face any bureaucratic red tape.