With a most important location in the Middle East, affordable real estate, business-friendly laws, and new infrastructure &facilities, Sharjah is the desired destination for business owners. Sharjah is a hub to a great number of companies in the UAE; and numbers of businesses have set up here from scratch; or quite a lot of businesses have expanded in this region in form of regional hubs. A Company formation in Sharjah is something you must discover.
The Sharjah DED is the foremost gov’t authority that lay down guide line on company formation in Sharjah. following is the list of allow type of company in this state of the UAE
Limited liabilities company
Local services agent or business partnership
Foreign company branch registration
Local company branch registration
GCC company branch registration
Public-private shareholding company registration
How to start a company in sharjah
Ahead of company formation in Sharjah overseas investors will must satisfy the requirements of the UAE Companies Law. The stages to register a company in Sharjah are:
Put a Sharjah company registration application with the Department of Economic Development,
draft the company’s memo of association,
acquire the trade license,
file for an establishment card with the Ministry of Labor,
register staff with the Ministry of Labor.
Our experts in Dubai can sketch the MOA for company formation in Sharjah.
Each and every kind of company differs from each other in conditions of ownership patterns, licensing as well as setup procedures.
Sharjah Company registration as a LLC; it is a kind of company in which the number of partner must not be more than 50; and must be less than 2. The legal duty of the partners is equal to the shareholding. In case there is a UAE local; then he will hold at least 51% of the share of the company.
Partnership Company formation in Sharjah; this is for a UAE local only; this type of a partnership will be between two or more than two persons; and they are accountable to the degree of their shares to the company’s liabilities.
Local service agent: These are creature companies that are manage by one person only. The task can be running all business or economic activity; and the owner tolerate all the financial for fear that the owner is not a UAE or GCC national; then there should be a local service individual who has to be a UAE. Local service agent should be a normal and not a legal entity / representative.
Opening foreign company branch in Sharjah; this is relevant in case an overseas company opens a branch abroad.
Local company branch: this is relevant in case concerned party desires to open a branch of a company in other emirates.
Public private Shareholding Company: A PSC is a type of a company with shared funds divided into equally valued trade-able shares. A PSC, on the other hand, it is subject to policy pertaining to public joint stock companies.
Advantages of company formation in Sharjah
Being an emirate of the UAE, Sharjah levies no business income tax; value added tax, withholding tax, import and export tax or investment gains tax. additionally, our customers wishing to move to Sharjah will not be obligatory to pay any personal income tax;
While there is a condition for UAE nationals to hold at least 51% stake in the company, the revenue/loss distribution can be determined by our customer. Also, there is no minimum share capital obligation for a limited responsibility company in the UAE;
Sharjah is a famous industrial center, producing 48% of UAE’s industrial productivity. Furthermore, the town also ranks among the top 10 cities for business in the Gulf area. Hence, our customers may find it beneficial to setup a manufacturing company in the city;
Sharjah’s strategic position near the African and European continents makes it an ideal place for setting up trading company. Furthermore, this joined with the UAE’s first-class infrastructure, makes Sharjah an ideal place for offering product distribution services;
Company formation in Sharjah will furthermore benefit from massive government subsidies offered to the energy and utilities segment. Statistically, the government bears 70% of the price of electricity and water usage. As a result, it will be comparatively economical for a company searching; that is to invest in the Middle East to prefer Sharjah as their base of operations;
Trade names and license procedures for Sharjah Company registration
Registering a trade name for your company is essential; as it has to be match with the kind of business activity you want to pursue. You need to make sure that trade name which you chosen; should not be already book by any other investor; and also it does not violate the instructions as well as conditions. You have to also have alternate trade names in order of preference,
You need to submit the whole set of documents to DED; Our team can help you with the same.
Permits requires for company formation in Sharjah
There are some permits that you may need to apply for your company. E.g. warehouse permit is necessary for a license issue inside or outside of the Sharjah.
The process for warehouse permits start with filling out the license form. After that, you have to book an appointment with a concern section for assessment; and an approval of the location. And you also need to take an approval from civil Defense. The lease should be valid and certified. Then you may proceed to take an approval from the gov’t authorities apply to the kind of business activity. Finally, permit fee should be paid to the licensing department post that you will receive your permit.
There are a lot of Prospects in part of the world; and also there are plenty of info share by the local gov’t to help you with Sharjah company registration. However, we do realize that there are many procedures to keep an eye on starting from licensing to permits to setup business in Sharjah. Our consultants are expert in the company formation in Sharjah; and enable many owners to setup well in this region. We provide our advice to all investors who are willing to expand their business in the UAE.
Company formation in Sharjah free trade zone
As we have discus a lot about company set up in the main land market; now we are about to discuss a few thing about sharjah free trade zone. After knowing the above status quo; we can say that free trade zone is giving a key role in the country economy. In Sharjah there are 3 main free trade zones to consider for company formation in Sharjah. One is SAIF zone or Sharjah Airport free zone; and the second one is Hamriyah free trade zone and shams media city free trade zone.
Sharjah free zone company formation offer cheap land; and labor as well as spurs to small and medium firm. Sharjah free trade zone have highly urban structure; and also it offer 24 hour license services to enable a quick company formation in Sharjah free trade zone. This part of a world is also known for low cost office rent; and so an easy method of company setup.
If you like to open a company in Sharjah free trade zone; then you need to speak with our expert for the setup. Our consultants are aware of the global criteria and they have local skill; they have a complete know how of the company formation in Sharjah free trade zone. Our package for setup of a company will help you get your trade license; and reduce Sharjah free trade zone company set up cost. Sharjah free trade zone boosts UAE’s image as a logistics and maritime trading hub.
Sharjah is the only state of UAE with land on the Persian Gulf as well as the Gulf of Oman; boosting its image as a logistics and maritime trading hub. Sharjah free trade zone offer big business features; good structure and complete privacy to investors.
Sharjah Media City Free trade zone (SHAMS Free trade zone)
Starting a business in Sharjah media city free zone; that is in Shams free trade zone is a fun. We offer great company setup packages for SHAMS. We have setup so many companies at SHAMS Free trade zone for our clients; from startup companies to technology industries. We are one of the best if you would like to start a company in SHAMS free trade zone; or any other UAE free trade zone.
Hamriyah Free trade zone (HFZ)
Hamriyah free zone was first start in the year of 1995 / 94. It became one of the best place for company formation in Sharjah. Hamriyah Free trade zone is the 2nd largest free trade zone in the UAE; and is located close to the Sharjah air port. Hamriyah free trade zone in Sharjah is also link to a 14 meter deep water port. This free trade zone emphase on the small as well as Medium Enterprises (SME) sector; and offer cheap lease rents, and least reporting formalities to SMEs.
Sharjah Airport free trade zone (SAIF zone)
Sharjah Airport free trade zone also known as the SAIF zone provides round the clock license service; and it is located close to the Sharjah airport. A unique selling point of Sharjah airport free trade zone is the warehouses; a storage area, a bunkers, also a container parking, a labor as well as housing are available at economical costs.
Why set up a company in Sharjah Free Zone?
It has a Liberal economic policy as well as a legal framework, cosmopolitan culture; and also a business friendly company law of Sharjah; attract many industries to avail investment breaks in this part of the world. Sharjah Free zone company formation boasts of supreme investor incentives and facilities from the UAE gov’t. When compare to the other free trade zone in the UAE; Sharjah free trade zone company setup cost is reasonably low and works as the most cost effective choice.
The free zone also offers affordable land and labor as well as spurs to small and medium size firm. They have highly settle structure as compare to the rest the free trade zone; and it also offer a 24 hour licensing services to enable quick company setup for you. Additionally, there are fewer accounting and auditing desires; which is a good relief to the expat who want to set up business in Sharjah free zone. There are many such incentives for business setup in Sharjah.