How to Set Up a Company in Sharjah Media City Free Zone?
Set Up a Company in Sharjah Media City Free Zone
Sharjah Media City (SHAMS) was launched in January 2017 in the emirate of Sharjah. It was established to become a hub for the media and creativity in the region. The free zone has turned into a hub of media, trading, and creative business. It has obtained immense popularity in a short time.
Sharjah Media City Free Zone offers excellent facilities for entrepreneurs and startups, which is among the top reasons behind the popularity of this free zone. Although the free zone mainly focuses on creative and media-based companies, it also caters to the needs of other industries.
If you plan to Start a Business in SHAMS Free Zone,read this article. The article will highlight everything you must know before starting a business in this free zone. In addition, you will get an in-depth guide to setting up your business in Sharjah Media City Free Zone. Furthermore, we will give you a list of top benefits you can enjoy by starting your company in this area.
Benefits Of Starting A Company In Sharjah Media City Free Zone
There are numerous benefits that you can enjoy by setting up your business in the Sharjah Media City Free Zone (SHAMS). The immense number of benefits is increasing the popularity of this area. The following are the top benefits you can get by starting your business in this free zone:
1. Easy registration process
The registration of a company in the SHAMS free zone is quicker and straightforward because of the digitalisation of the registration process. The free zone has made getting a license very flexible and comfortable. The investor does not need a no objection certificate (NOC) to obtain this license. In addition, you can get the licenses in two to three days.
2. No shareholder presence is required.
In the Sharjah Media City Free Zone, the physical presence of the company’s shareholders is not needed for the incorporation of the business. The related parties may sign the crucial documents and send them to the free zone or the registered agent of the free zone. Then, the free zone will set up the company and generate electronic copies of documents, which may be used to open a bank account for your business.
3. Numerous activities
There are numerous business activities investors can select while starting a business in the Sharjah Media City Free Zone. Having access to uncountable business options can be helpful for both companies and Free Zone because the businesses can seek help with the services amongst themselves. In addition, the free zone can serve a wide client base.
Types Of Business Licenses In SHAMS
SHAMS Free Zone offers numerous business licenses to global investors. You can select an appropriate business license from a wide range of licenses for your business. Let us take a look at the types of business licenses to Start a Business in SHAMS Free Zone:
- Trading license: This license is issued for businesses involved in selling goods within Shams, or to import and export products. It includes the movement of goods, wholesale and retail sale of goods, and rendering of services related to the sale of these products.
- Service license: The service license is for the business involved in the production, re-production, transformation, and distribution of services. This license includes rendering services as the primary goal and using products to give services.
- Industrial license: The industrial license is for companies involved in industrial activities. The license allows the production, transformation, re-production, and manufacture of goods in the Sharjah Media City Free Zone.
- Holding license: This type of license covers more than 120 business activities. You can combine numerous activities in this license. The license applies to the business people which owns stock in different companies to influence its decision. The number of business activities can be increased after the payment of some amount of money.
Documents Required To Set Up A Business In Sharjah Media City Free
When planning to start a new business in the Sharjah Media City Free Zone, then you must gather a few documents. The relevant authority asked for a few documents to give investors a business license. The following is the list of documents you need to start your business in SHAMS free zone:
- Board resolution to start a new company
- Board resolution to start a new branch
- Board resolution providing signatory authorisation or Power of attorney for the third party
- Certificate of good standing
- Copy of passport of the Director and the Company Secretary
- Certificate of Incorporation
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Valid trade license
- Copy of passport and UAE visa of General Manager
- Copy of passport of the individual shareholder
Apart from these documents, the relevant authorities might also ask for additional documents from you.
The Process Of Starting A Business In Sharjah Media City Free Zone
The Sharjah Media City Free Zone Authority is responsible for setting up a business in this area. There are a few steps to start a business in this free zone. Below is the list of steps you need to follow to begin your business in this area:
- Initially, you should visit the official online portal of SHAMS and select the appropriate business license for your business. Remember, industrial, trading, service, and holding licenses are available in the SHAMS-free zone.
- After choosing the type of license, you should identify the legal form of the company to be registered in the SHAMS free zones.
- The next step is to select the business activities that you want to conduct within your business in the SHAMS-free zones.
- After choosing the business activity, you must apply for the business name and initial approvals from the relevant authority.
- The next step is to submit the required documents mentioned above. You can submit these documents yourself to the authority. However, Flyingcolour Business Setup can submit your documents on your behalf.
- After submitting your documents, you must pay the payment of fees for setting up a business in SHAMS Free Zone.
- Lastly, you should apply for a SHAMS residency visa.
How Flyingcolour Can Help You?
Flyingcolour Business Setup can help you start your business in the SHAMS Free Zone. We have helped uncountable clients to set up their business in this area. Our experts can clear any doubt about setting up a business in this area. We can also guide you through each step of starting a business in this area.
To learn more about the Set Up a Company in Sharjah Media City Free Zone, book a free consultation with one of the Flying Colour team advisors, simply call +971 50 5585305 or send WhatsApp messages to +971 4 4542366. you can also drop an email to info (at) flyingcolour (dot) com.
*Please note that this article was published on 04/03/2024 by the federal policies and updates at the time of writing. For the latest info please talk to our consultant
