Sharjah free zone company formation
Sharjah is known as the 3rd largest city of the UAE; and the only one to have a land on the Persian Gulf and the Gulf of Oman. The area range of this kingdom is spread over 2,600 sq. km; and attracts tourists as well as investors over 5000000 annually. It is tactically located among Africa, Europe as well as Asia; Sharjah claims a good judicial system of a low crime rate. It is known as the freight forwarding sector of the UAE; and has made an industrial base for the UAE. However, now a day, Sharjah free zones are not limited to these minimal sectors; and have a quite vast outlook. The gov’t of the sharjah has taken real steps to bring investment; that is from all over the world to create huge opportunities for Sharjah Free zone company formation.
Free Zones in Sharjah
How to Set Up a Business in Sharjah Free Zone?
The process to set up a business in Sharjah free zone can be easy and smooth; if you want to start a business in sharjah free zone; then you need to make a proper business plan; take exact decision, do your research; and follow the right process are the main steps. Apart from this, you need to follow the following steps:
- First of all understand your business and select a proper free trade zone.
- Prepare a proper business plan
- Choosing and reserve a name your company within your desire sharjah free zone
- Also assessing the required work force for your business
- Putting the minimum capital amount in the bank account
- Finishing the license process as well as registration
- Finalizing formalities of business setup by availing an individual shareholder, corporate shareholder or both; to sign set up documents of the company in the presence of free zone authorities.
Procedure to Get a Sharjah Free Zone License
All free zone authority has a setup rules to control the company set up process. To apply for sharjah free zone company formation you need to have valid documents; each free zone has its own rule and number of requirements as well as has a set of steps. Here we have some general guideline for steps and documents needed to get your license in Sharjah free zone.
The first step is to apply for initial approval; you need to provide the following documents –
- Fill an application form
- Business plan
- Copy of registration certificate / existing trade license (if you are an existing company, valid to local company only)
- Colored copies of passport of the company’s shareholders / Director for the new company and the appointed Manager
- Specimen of the company’s shareholders as well as the appointed Manager / Director for the new company
- 2 years financial audited reports for a corporate body or certificate of reference from a personal individual shareholder bank
- NOC from the current sponsor (for individuals)
- Title deed of Unit
- Letter of Intent
- Registry Identification Code Form (RIC) for Manager / Director (Original and notarized)
After taking an initial approval, the next step is to give obligatory fees and register your business. The cost depends on the type of business you want to start. The documents are as under:
- Complete application form
- Board Resolution for appointing Manager as well as Director
- Power of Attorney given to Manager as well as Director
- signature specimen of Manager as well as Director
- Passport size picture with white background of Manager as well as Director
- Share capital information
Licensing and Visa Process
- Agreements of lease will be prepared by the authority
- The trade license will be issue to you
- The processing of Visa will start
Types of License for Sharjah Free zone company formation
A trade license is required for Sharjah Free zone company formation. In order to get Sharjah free zone license one has to pick the type of business activity; which he like to perform in the region. There are commonly three types of licenses available for Sharjah Free zone company formation:
- Industrial License
This type of license is for those who want to manufacture goods. You need to have a physical office in the free zone to get this type of license. It includes such as the manufacturing of food products activities, furniture, metal casing and packaging.
- Commercial License
This type of a license is issue to those who want to trade; or buying as well as selling of goods. If you select an activity of business which is come under this activity; you will be chosen with a commercial license by the authorities of free zone. Logistics, real estate services and car rental can be count as a commercial activity.
- Professional License
This type of a license is assign to those who provide services. They can be professionals, service providers, artisans, IT expert or craftsman. It includes activities such as consultancy of management; accounting as well as auditing companies, law firms, educational institutions and medical services.
Why Set Up a Business in Sharjah Free Zone?
Good economic policies and legal framework; cosmopolitan culture, as well as business friendly company laws of Sharjah; attract all kind of expat to avail investment opportunities in this country. Sharjah free zone company formation claims for supreme investor incentives and facilities from the UAE gov’t. Sharjah Free Zone company setup cost is sensibly low; and works as the most cost effective choice; when you compare it to the other free zones in the UAE. The free trade zones to SME also offer cheap land and labor as well as incentives. They have extremely urban structure compared to the rest of free zone; and it also offer 24 hour licensing services to enable quick business setup in Sharjah for you. Moreover, there are few auditing and accounting requirements, a relief to the Sharjah Free zone company formation.
Advantages of Sharjah Free zone company formation
- 100% free transfer of funds
- 100% repatriation of capital as well as profits
- Abundant and low cost supply of energy
- 100% foreign ownership
- Also there is no restrictions of currency
- Corporate tax exemption
- 100% exemption on exports as well as imports
- Also there is cheaper lease rents
- 100% privacy with limited financial planning
- Also a 24 hour services of licensing
- Low cost warehouse as well as labor facility
- Easy access to Sharjah International Airport as well as other big ports
Sharjah free zone company setup means huge money making potential; world class infrastructure; tax freedoms, modern facilities; liberal gov’t policies and free trade obstacles. Process for setup of a company is very efficient in any of the Sharjah free zones; but proper decision making as well as requires serious planning. You also need to get help in Sharjah Free zone company setup from a professional consultant like Shams Consultant; we will help you and will take care of all the processes that are important to complete the paper work. We help international investors as well as corporate to form company in Sharjah free zones; while getting all the advantages that provides a developing economic trading hub. Our consultant will also take care of the entire Banking, Legal, Visa and Licensing formalities; and allow you to enjoy your company setup process without any worry.