Business Setup in SHAMS Free Zone
Launched in 2017 by the Sharjah Emirate Government, Sharjah Media City (SHAMS) is a part of Sharjah City in the United Arab Emirates (UAE). It is a free zone that empowers creative business owners, startups, SMEs, freelancers, and companies with cost-effective solutions for setting up their businesses. The free zone focuses on making Sharjah the center of media excellence in the UAE. Apart from media businesses, this free zone is also home to other organizations to support flagship projects.
You can get a world-class media hub with comprehensive services and complete foreign ownership options from the SHAMS Free Zone. Regulatory and policy initiatives in the SHAMS Free Zone aim to make setup, registration, company running, and service provision quicker and easier. Besides being one of the newest free zones in the UAE, the Sharjah Media City has become the most sought-after Free Zone area in this nation.
If you want to Setup your Company in SHAMS Free Zone, you should contact Flyingcolour Business Setup to make your journey from starting your business to running an organization easier.
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Benefits of starting your business in the SHAMS Free Zone
- Cost-effective: You can enjoy cost-effective solutions by choosing the SHAMS Free Zone for your business, as this free zone offers low setup costs, competitive fees, and no least share capital requirement to make setting up a business cheaper.
- Easy business setup process: By choosing the SHAMS Free Zone, you can also enjoy a faster and hassle-free business setup process. You can also move to the easiest path to set up your business by partnering with the Flyingcolour Business Setup.
- Tax-friendly: In Sharjah Media City (SHAMS), you can enjoy attractive tax advantages by starting your company. While a general Corporate Tax (0% on income up to AED 375,000 and 9 percent on the above income) applies to businesses operating in the UAE. Companies operating in the SHAMS Free Zone are exempted from the Corporate Tax in certain cases. You can also enjoy other tax benefits like no import and export tax duties, no personal income tax, and an exemption from the VAT.
- Business freedom:You can get the freedom to conduct different business activities in Sharjah Media City as it permits a wide range of business activities under a single business license, flexible office options, and an easy visa process.
- Strong Social Media Presence: SHAMS is not only limited to media activity, but this free zone is the best for people like you who specialize in media. This matches the free zone’s commitment to increasing and including value in the media industry, particularly in Sharjah.
Some Licenses available in the Sharjah Media City (SHAMS) Free Zone
Trade License
You can engage in the buying, selling, and distribution of products in the SHAMS Free Zone with a trade license. In addition, you can also export and import with this license in the free zone. This license encompasses retail sales of the products and allows you to offer services directly related to these sales.
Service License
If you are a consultant, professional, or artisan, a service license allows you to give your specialized service to diverse clients in the SHAMS Free Zone. This license also permits the production, reproduction, and distribution of your services plus equips you with the legal framework to render your services as a primary business goal. In addition, it also lets you use goods in your services provision to give a holistic approach to business operations.
Holding License
You can start a holding company with the help of a holding license to manage other businesses in this Free Zone. This type of company protects you from responsibilities if any other business has financial problems.
Industrial License
Suppose you are engaged in production, packaging, or similar activities, you must apply for an industrial license. The industrial license allows you to conduct business activities related to the production and conversion of natural resources into final products.
E-commerce License
You can conduct an online business with an E-commerce license in the SHAMS Free Zone. This license is great for you if you are from the UAE or GCC national.
Freelance Permit
You can work alone as a freelancer in the SHAMS Free Zone with a freelance permit. If you have a skill and way, you can use your personal name instead of brands to start your freelancing career in sharjah media city free zone
Types of Business Entity in the SHAMS Free Zone
LLC
An LLC means your own business that keeps you safe from company debts and helps you conduct your business better. You may enjoy your own identity by choosing the LLC business entity. You can avail the following advantages by choosing LLC as your business entity in the SHAMS Free Zone:
- You will be independent
- You can acquire a license
- You can hire workers
- You can open your business bank account
Branch
A branch in the SHAMS Free Zone is like a part of your original or parent company. However, the branch’s success and responsibilities are shared with the parent company. Branch companies help you acquire a license, sponsor employees, and open a business bank account.
Free Zone Company (FZC)
Free Zone Company (FZC) lets you begin your company in the SHAMS Free Zone with many shareholders. This is ideal for you if your business has many shareholders.
Free Zone Establishment
You must choose this business entity if your company has a single shareholder because it is a
single-shareholder entity. This entity offers you complete ownership.
Documents required
Individual Shareholders
- Application Form
- 3 Company Name Choices
- Passport Copy
- Visa Copy
- Emirates ID (if required)
- Passport-sized Photos
Corporate shareholders
- Incumbency Certificate
- 3 Company Name Options
- UBO List
- Passport copy of Company Manager
- Company Trade License / Certificate of Incorporation
- MoA
- Board of Resolution for Setting Up Your Company and Appointment of Authorized
Signatory
Steps to begin your business in the SHAMS Free Zone
- You should initially select your business name for your company in the SHAMS Free Zone. However, you should avoid offensive or blasphemous elements in your business name. Plus, you should decide on 3 potential names to avoid any delay in case your selected name is already registered.
- Next, you should choose the business activity and entity that matches your company’s requirements and goals. However, you should remember you can only select three business activities under one trade license.
- After choosing your company entity and its activities, you should submit the application form and required documents to the relevant authority. However, you can also submit this paperwork to the Flyingcolour Business Setup because our experts can submit it to a reliable authority on your behalf so you can focus on other necessary work.
- Lastly, you must complete the payment of the necessary fees. Once paid, you will obtain the payment confirmation and license processing timeline. Usually, you can get your license within one week.
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