Sharjah Freezone Company Formation & Business Setup

Sharjah Freezone

SHARJAH FREEZONE BUSINESS SETUP

Sharjah Freezone Company Formation & Business Setup

Sharjah is a constitutional monarchy, and its government has recently made even more efforts to attract foreign investors to increase future trade in the region. The government has lenient trade laws that benefit businesses and companies laying roots in the region. Sharjah free zones are also relatively safe regarding crime rates, and the justice system is fair, so businesses are free from fear of losses due to crime.

At Idea Bizone, we provide consultations to business owners of all types and levels to establish their businesses in Sharjah Free Zone. Sharjah is a hub for business and tourists due to its strategic location between three continents: Asia, Africa, and Europe.

Our experienced and enthusiastic team at Idea Bizone can help you navigate the maze of procedures and requirements to set up your business in different freezone trading locations. We provide the quickest and most affordable solutions to set up all kinds of companies, from start-ups to multinational business companies.

We can provide you with the best office and company setup following your company’s needs. Our team aims to build long-term client relationships with trust as a foundation. We gain our clients’ confidence with tangible results in the form of their successful UAE businesses.

If you are new to this field, we will assist you. We have a complete guide for you to conveniently understand the process and pick the suitable activity and place for you in Sharjah Free Zone.

Why Choose Sharjah Free Zones?

Sharjah is currently the prime location to set up a free zone company in the UAE. Being the third largest emirate, Sharjah contributes 7.5% to the total GDP of the United Arab Emirates.

The location of this emirate lends it excellent connectivity to other parts of the country via a well-developed road network. Seaports and air travel facilities also make for accessible travel businesses.

Sharjah free zones have a well-oiled system to speed up the various mandatory formalities and processes for starting and running a business venture. Three different types of licenses cover nearly all types of business and entrepreneurial ventures. The Sharjah government has facilitated the trade license obtainment process so that you can get your license in even a day with all the required documents.

Businesses can also take advantage of the versatile infrastructure of the area. These facilities like storage houses, warehouses, labor housing, offices, and industrial buildings are available at affordable prices.

Types of Free Zones in Sharjah

Businesses, companies, and industries looking to set up their offices in Sharjah can choose from five free zones.
Free zones in Sharjah have the specialty of focusing on a specific sector of industries and businesses. This helps them provide investors with the best particular facilities for that business sector.

The five free zones in Sharjah are:

Sharjah International Airport Free Zone (SAIF Zone)

Sharjah Publishing City Free Zone (SPC FZ)

Hamriyah Free Zone (HFZ)

Sharjah Media City (SHAMS)

USA Regional Trading Center (USA RTC)

Advantages of Setting Up Your Business in Sharjah Free Zones

There are many benefits to setting up your business in Sharjah free zones:

100% Relief from All Taxes And Duties

As an incentive for foreign investors and entrepreneurs, the government has waived all taxes and duties for businesses and companies in Sharjah-free zones.
This total tax exemption includes income tax, corporate tax, and withholding tax.
Complete Foreign Ownership

Businesspersons and company owners benefit from having the sole ownership of their business while in Sharjah-free zones. Previously there was a rule that you needed a local agent to set up a business or company in the UAE. However, this restriction has been lifted to benefit foreign investors in Sharjah-free zones.
Free Fund Transferring

Businesses and companies can transfer funds through their bank accounts without any kind of fee or duty.
Zero Import And Export Duties

The UAE government has worked hard to cultivate friendly relationships with many other countries around the globe. This has resulted in successful tax treaties with more than 60 foreign countries.
These tax treaties greatly benefit businesses in Sharjah-free zones by reducing tax costs on imports and exports from foreign countries.

Government Incentives for Business Sector

The Sharjah government has enforced plenty of liberal economic policies and relaxed rules and regulations so that businesses can flourish in the area.
The government has subsidies and grants that pay off 70% of companies’ electricity and water bills. The overall energy cost is relatively low in Sharjah free zones compared to other free zones in Dubai.
Top-Level And Affordable Infrastructure

The Sharjah free zones have an amazing, well-built infrastructure. A widespread network of roads connects these trading zones to the rest of the country. Sharjah also has several seaports as well as airports which facilitate businesses to import raw materials from other countries around the world.
It has the most suitable buildings for businesses like offices and storage spaces are available on cheap leases with options for furnished and unfurnished spaces.
Simple License And Setup Services

The various documentation and licenses required to carry out business in Sharjah are fast-tracked. Sharjah free zones have a 24-hour licensing service to facilitate business setups. Labor visas are also easy to obtain, with up to 20 visas on one license.

Why Choose Idea Bizone?

Here’s why Idea Bizone should be your choice of business consultancy:

Quick and affordable business setup solutions.
A professional team with complete expertise in all matters regarding the documentation process.
Connections to business centers to help foster business-customer relations.
24/7 customer support.
Free policy for clients to consult regarding any business setup matter.

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How to Set Up Your Company in a Sharjah Free Zone?

You can easily start a profitable venture by setting up your company in Sharjah free zones by following these steps:

Choose the right Sharjah free zone according to your type of business.
Let us help you formulate the best business setup course for you.
Reserve a suitable company name in your chosen free zone.
Figure out the infrastructure details like labor housing and office space.
Obtain your business license and registration with our team’s expertise.
Complete final formalities of deciding on an individual and a corporate shareholder. Both of these shareholders will then sign your company formation documents while the free zone authorities are present.

Types of Licenses in Sharjah Free Zones

Three types of trade licenses are granted to Sharjah free zones.

Service/ Professional License

A professional or service License is for businesses and professionals who offer their services to customers. Law firms, consultancy firms, financial advisors, educational and medical service providers, and craftspersons fall under the umbrella of service licenses.

Industrial License

This type of license is reserved for businesses involved in industrial and manufacturing activities like packaging, furniture making, and manufacturing consumer goods. Such companies need to have a physical space in their name to be eligible for the license.

Commercial License

A commercial license is for businesses involved in buying and selling consumer goods in the UAE market.

Procedure to Obtain A Sharjah Free Zone License

Provided below is the general guide to getting your free zone trade license. The document required and processes vary slightly according to business type.

You can make an appointment at Idea Bizone for personalized guidance for your particular business.

1. Obtain Initial Approval

For Initial Approval, the following documents need to be submitted:

Filled application form
Your company’s business plan
Copy of existing trade licenses for local companies
Colored copies of company shareholders’ and Manager’s passports
Company shareholders’ and Manager’s signatures
Either the reference certificates from each shareholder’s personal bank or a 2-year financial report for the business as a whole
NOC from sponsors for individual person
Letter of intent
Unit title deed
The original and notarized RIC form for the Manager

2. Business Registration

After gaining initial approval, you can now register your business in your free zone. To register your business, you will require these documents:

Application for registration of business
An attested document showing Board Resolution appointing the Manager
A document showing Power of Attorney is given to the company Manager
Attested Memorandum and Articles of Association
Attested signature of Manager
A passport size photo of the company’s manager, having a white background,
Document sharing information of capital

3. Licensing and Visa Obtainment

Our company will help you apply for all required licenses and begin the visa application process for all shareholders and employees.

Cost of Company Formation in Sharjah

The cost of company formation in Sharjah free zones varies with the type of free zone and the size and type of your business.

The prices begin from approximately AED 10,000 and may go up to AED 50,000.

You can rest assured that Idea Bizone will get you the best low-cost setup plan according to your company’s budget.

After reading this article, now you know the whole company registration process in Sharjah free zone. However, to make the process fast and stress-free for you, idea bizone is here to assist you. Contact us for consultation, and we will help you choose the most beneficial business activity for you.