Business Setup in Sharjah Free Zone
Sharjah being deemed to demonstrate the cultural and historical side of the United Arab Emirates, opens the door for future small and medium-sized companies to be able to compete in the market. Sharjah Free Zone is one of the preferred choices among new business owners thinking about the numerous available jurisdictions in the UAE.
Sharjah free zones are designated economic zones situated in the emirate of Sharjah. The best thing about this free zone is that it provides you with a favorable environment for trade, investment, and entrepreneurship. The significance of these free zones sits in their strategic location, advanced infrastructure, and diverse range of sectors thriving within their boundaries. Below are some key industries flourishing between free zones:
- Information Technology and Innovation.
- Healthcare and Education
- Media and Creative Sector.
- Trading and Logistics Sector.
- Manufacturing and Industrial Sector.
Types of Free Zones in Sharjah
Hamriyah Free Zone Sharjah
Hamriyah Free Zone Sharjah is one of the cheapest free zones in Business Setup in Sharjah. There are additional competitive incentives, and a great location is adjacent to three seaports. The Tax-free environment also provides 100 percent business ownership and an affordable cost of living.
There is no currency restriction or customs duty in this free zone. You will need a shareholder for the Sharjah Freezone business setup. Oil and gas companies, shipping industries, automobile industry, pharmaceutical companies, and food processing companies are only a few of the many industries that have set up their businesses in this Free Zone.
In terms of warehouses, the free zone offers investors a range of pre-built units ranging from 276 sq.m to 614 sq.m in size. All warehouses are developed in compliance with environmental and government safety regulations and perks, like ample parking space and appropriate infrastructure for IT requirements and utilities. Furthermore, the free zone has constructed warehouses with different power loads.
Sharjah Airport International Free Zone (SAIF)
Sharjah Airport International Free Zone, also known as SAIF zone, is one of the most exclusive free zones in Sharjah, UAE. The free zone is situated adjacent to the Sharjah International Airport. SAIF Zones provide entrepreneurs and investors with appealing business opportunities.
This Free Zone is the best place to set up your business not only because of its foreign investment benefits but additionally because it provides access to more than 2 billion clients in the Middle Eastern and North African region. Its strategic location create it easy and convenient for transportation and logistic purposes.
SAIF zone provides a sufficient workforce for a business to support its development and operational activities. Sharjah Airport Free Zone is one place that has some of the most prestigious companies carrying out their operations in this region.
Sharjah Media City
The Sharjah Media City Free Zone, which is also popular as the SHAMS Free Zone, is one of the youngest free zones in Sharjah, UAE. Despite being the newest free zone in the United Arab Emirates, its economy is already booming. Even though the area is popular as a Media Free zone, it does not mean they only offer media activities.
Sharjah has a wider list of activities, which includes trading, professional services, and some other holding activities. The number of shareholders required in SHAMS is at least one.
Sharjah Publishing City Free Zone
Sharjah Publishing City serves as a hub of paper, printing, distribution, and publishing. This free zone provides you with an opportunity to run a business independently. The area additionally lets you enjoy tax-free privileges. Sharjah Publishing City offers Sharjah Free Zone commercial licenses and services.
Sharjah Research Technology And Innovation Park Free Zone
Sharjah Research Technology And Innovation Park Free Zone, also known as SRTIP, is a free zone that advertises development, research, and innovative ecosystem. In addition, SRTIP gives enterprise activities to thrive and supports the partnership between academia, government, and industry in a single place.
Benefits of Business Registration in Sharjah Free Zone
- A Hub for Media Talent: Although Sharjah Free Zones are not limited to media activities, these free zones are dedicated to introducing local media talent with new and innovative ideas and preparing them with the necessary skills.
- Cost-effective: These free zones are highly reasonable and the cheapest option for Business Setup in Sharjah.
- Complete ownership: This means that entrepreneurs and businesses have complete control over their companies without partnering with a sponsor or local partner. Business owners will additionally have 100 percent repatriation of capital and profits.
- Scalable: The free zone also provides you with easily add up to additional visas for 20 persons for your company under 1 trade license.
- Flexible: No Objection Certificate or NOC from your current sponsor is not mandatory to become a shareholder of your new company.
- One license for multiple businesses: With the help of one license of these free zones, you will be allowed to conduct 5 different types of corporation activities in Sharjah.
- Strategic location: Sharjah is strategically located in the heart of the UAE. The emirate offers easy access to significant international markets in the Middle East, Asia, and Africa. The well-connected transportation infrastructure, like ports, airports, and highways, boosts efficient logistics and global trade.
- Sector-specific zones: The Sharjah free zones cater to numerous industries through sector-specific zones, like Sharjah Publishing City, which is the first publishing-free zone in the world. This especially boosts a favorable business environment and lets companies benefit from industry-specific infrastructure and networking opportunities.
Types of licenses for Sharjah Free Zone Company Formation in UAE
- Commercial license – This license is provided to businesses that involve trading, buying, or selling goods, Issued by the Free Zone Authorities. Some examples of businesses that are eligible for this license for Business Setup in Sharjah are Logistics, Car Rental, and Real Estate.
- Trading license – This license is required for those businesses that are involved in industrial and manufacturing activities. If you need this license, then you have to have a physical office in the Sharjah Free Zone. Food products manufacturing, furniture manufacturing, and packing are some activities that you may conduct with the help of this license.
- Professional license – This type of license is provided to businesses giving services. They can be service providers, professionals, artisans or craftsmen. management consultancy, law firms, auditing and accounting companies, educational institutions, and medical services are some activities that you may conduct with the help of this license.
Steps for Sharjah Free Zone Company Formation in UAE
- First, you should understand your company and decide what Free zone would be best for your business.
- Now, you should prepare a business plan.
- Now, you must select a business name. While choosing the company name, you’ll have to ensure the name does not contradict your business’s activity. In addition, you must be sure the name isn’t being used or that it contains any obscene words.
Now, you’ll have to end the Business Setup in Sharjah Free Zone formalities by getting the shareholders to sign the business setup documents and turn in any necessary documents that are needed.
Free Zones Located in Sharjah
Following are very popular free zones located in Sharjah