Sharjah is one of the 7 emirates in UAE or you can say the third largest emirate in UAE. It was declared as the cultural capital of the Arab world in 1998 by UNESCO. Sharjah is the only one emirate which has the ports on the Arabian Gulfs west coast and east coast with direct access to the Indian Ocean.
Sharjah has witnessed a dynamic force in economic growth in recent years, implementing expansion to uplift itself as an international investment destination to rival many others across the region. Sharjah is integral to the global supply chain with excellent shipping networks across the world.
The cost involved in setting up business in Sharjah is very cost effective compared with other emirates of UAE, and the focus of industrialization has in recent years turned Sharjah into an industrial centre.
Advantages of setting up business in Sharjah Freezones:
- 100 % foreign ownership
- Waiver of corporate taxes
- Exemption from personal taxes as well as import and export taxes
- 100 % return of revenue and profits
- Easy availability of legal, immigration, labour and other facilities
- Liberal economic policies
- 24 hour licensing services
Below are the list of free zones situated in Sharjah with their own benefits:
Hamriyah Free zone – Hamriyah Free zone in the city of Sharjah was established in 1995 serving the Industrial, Commercial and General trading services. It is also known as the 2nd largest free zone in UAE. Below are the reasons to establish business in a tax-free environment with 100% company ownership.
- Hamriyah Free Zone connects with key highways to six other emirates, in addition to providing direct access to Oman, Bahrain and beyond
- It is primary hub of oil and gas companies and home of highest steel fabricators in UAE
- The Free zone has its expertise in having business like building materials, food, heavy industry, logistics and transportation, oil and gas, packaging, perfumes and cosmetics, petrochemical, recycling, SME’s, recycling, marine etc.
- It is spread across 26 million square meters of prime industrial land, many heavy industry leaders have chosen to launch their business at Hamriyah Free Zone
- It has an area of 11 million square feet well planned and developed for the food park
- The packages with visa starts from AED 8,800* for general trading
Sharjah Airport International Free zone – Sharjah Airport International Free Zone, popularly known as SAIF Zone, is one of the expanded free-trade zones in UAE.
- More than 8000 companies functions from SAIF Zone
- SAIF Zone has fascinated stakeholders from more than 90 countries for setting up business in this area
- SAIF-ZONE’s one of the prime objectives is Flexibility which provides the facilities right from a single office space to entire manufacturing facilities and everything in between, the options are planned to accommodate every business in it
- The Free zone has its expertise in General Trading, Service License, Industrial License, Jewelry Manufacturing, Warehousing, storage areas, container parking, bunkers and labour housing are all available at the lowest costs and highest quality
- The packages to setup business in SAIF zone starts from AED 15,650*
Sharjah Publishing city Free zone – It’s the world first free zone concept which is exclusively dedicated for serving global publishing and printing industry. It was established in 2017 by the ruler of Sharjah.
- It is managed by Sharjah Book Authority, a special branch of the Government of Sharjah, that oversees the umbrella of projects related to the ruler’s visionary goals for the Emirate
- Sharjah Publishing city gives you a startup cost which is internationally competitive and has the advantage of operating 100 % tax free
- Larger office options, commercial leasing and storage facilities available
- The Service license provided by SPC includes execution of services as a primary objective and utilizing goods to provide them
- The packages to setup business in SPC starts from AED 6,500*
Sharjah Media City Free Zone (SHAMS) – Sharjah Media city also knows as Shams was launched back in 2017 to act as promoter for inspired and media businesses to grow and succeed.
- Aiming to be a world class media hub for groundbreaking facilities and services
- It provides the service license which allows for production, re-production, transformation and distribution of services
- Allocation of up to 6 visas on a shared desk facility
- Quick and simple online registration process
- General trading and E-commerce activities under zero visa package – low cost
- The package for starting business in SHAMS starts from AED 5,750*
The process of company formation in Sharjah is one of the easiest. However, it requires a proper decision making planning from professionals like us, who can take care of all the requirements associated with company formation, banking, visa, legal, licensing formalities and pro services etc.
This blog is written by Ms. Manali Chandegala, Partner Relation Executive at Flyingcolour Business Setup, VAT and Accounting Services, Dubai. If you have any query regarding setting up a business in any on the Sharjah Freezones or anywhere across the UAE then please contact us at +971 4 4542366 or email us at info[at]flyingcolour[dot]com.
*Please Note: This article was published on 22nd August,2020. The information provided in the article is based on the policies and rules applicable at the time of writing it. Talk to one of our consultants for any recent update or change.