Doing Business in Sharjah
The thriving economic development of Sharjah is attributed to the attractive opportunities and the positive incentives that encourage businesses to invest in Sharjah.
To sustain its strong economy, the Government of Sharjah recognizes and promotes the growth of the private sector and welcomes foreign investment in the manufacturing, trade and service sectors. The introduction of policies that have eased investors’ entry and investment in infrastructure have all contributed to the rapid and continuing economic growth. Sharjah has maintained good trading relations with a great number of countries around the world and vigorously pursues a policy of forging closer economic ties with new trading partners, opening additional international markets.
The presence of local and foreign banks, advanced communication systems and other essential modern services have contributed to the continuing positive trend in the business climate of the Emirate.
Prior to operating any business in Sharjah, it is first necessary to follow the steps outlined below in order to meet the legal requirements of all concerned government authorities and to guarantee maximum commercial benefit for the business owner.
- Trade name reservation
- Initial approval
- Approval from Municipality for location and inspection
- Sign lease agreement
- MOA in public notary
- Final processing of all documents to issue payment voucher
- Up on paying license fees the trade license will be issued.
- Name board approval
- Apply establishment card
- Ministry of labor approval for the employees
- Immigration department visa to be stamped.
The three most common types of license in Sharjah are:
- Commercial licenses covering all kinds of trading activity.
- Professional license for service providers
- Industrial license.
Required documents:
- License form
- Trade Name Certificate
- Passport, National ID and Family Book photocopies
- Certified No Objection later, passport, visa and residency photocopies
- Technical Evaluation report
- Other government entities approvals if required
- Partnership Contract certified by the Notary Public
- Ministry of Economy Approval
- Legal Affairs Approval
- A certified copy of the tenancy contract
- Land map or ownership certificate photocopy
- Sign board
If the companies are LLC in their legal status, then a capital of AED 150,000 is required so to avoid this you can have the company as a Civil company, where the local partner is acting a service agent.
This article is written by Senior Business Consultant, Mr. Riyazeth.
