Business Setup in Hamriyah Free Zone
Company formation in Hamriyah Free Zone
As an entrepreneur looking to expand your business or start a new venture, choosing the right location is crucial. Sharjah, one of the seven emirates of the United Arab Emirates (UAE), offers a multitude of opportunities for business growth.
- Free lifetime residency
- Easy business setup process
- Bank account assistance
Benefits Of Business Setup in Hamriyah Free Zone
Sharjah, known as the cultural capital of the UAE, is a thriving hub for trade and commerce. Setting up a company in Hamriyah Free Zone offers numerous benefits. Here are some of the advantages that make it an attractive destination for business setup:
- Strategic Location
- Economic Stability
- Business-friendly Policies
- Easy Company Setup
- Customs and Logistics Support
- Diverse Business Activities
1. Strategic Location
Sharjah's proximity to Dubai, one of the world's major business centers, offers excellent connectivity and access to global markets. Additionally, its location on the Arabian Gulf makes it an ideal trading hub for businesses.
2. Economic Stability
Sharjah boasts a stable and diversified economy, with a strong focus on sectors such as manufacturing, logistics, and tourism. The government's commitment to economic development ensures a favorable business environment.
3. Business-friendly Policies
The government of Sharjah has implemented several initiatives to attract foreign investment and facilitate business setup in hamriya free zone. These include streamlined processes, tax incentives, and 100% ownership for foreign investors in free zones.
4. Easy Company Setup
The process of setting up a company in Hamriyah Free Zone is straightforward and efficient. The free zone authority provides comprehensive support and guidance throughout the entire setup process.
5. Customs and Logistics Support
Hamriyah Free Zone offers excellent customs and logistics support, including 24/7 access to seaports and airports. This facilitates easy import and export of goods, making it an ideal location for trading companies.
6. Diverse Business Activities
Hamriyah Free Zone allows a wide range of business activities, including trading, manufacturing, logistics, and consultancy services. This flexibility ensures that businesses from various sectors can thrive in the free zone.
Legal Requirements for Company Setup in Hamriya Free Zone
The specifics of setting up a company in Hamriyah Free Zone, let’s explore the legal requirements and process for company formation in Sharjah:
- Legal Structure
- Trade Name Registration
- License Application
1. Strategic Location
The first step is to determine the legal structure of your company. You can choose from various options, including a Limited Liability Company (LLC), branch office, or representative office.
2. Trade Name Registration
You must select a unique trade name for your company and register it with the Department of Economic Development (DED) in Sharjah. This ensures that your business operates with an exclusive identity.
3. License Application
3.Depending on your business activities, you need to obtain the relevant licenses and permits from the DED. These may include commercial, professional, industrial, or tourism licenses.
Let's connect
Company Setup in Hamriyah Free Zone
Hamriyah Free Zone, located in Sharjah, is a premier business destination that offers a wide range of benefits and incentives for companies. Here’s an overview of what you can expect from Hamriyah Free Zone:
- Infrastructure
- Tax Benefits
- Foreign Ownership
1. Infrastructure
Hamriyah Free Zone provides state-of-the-art infrastructure, including fully equipped office spaces, warehouses, and industrial units. The zone is well-connected with modern transportation facilities, ensuring smooth operations for businesses.
2. Tax Benefits
2)One of the key advantages of setting up a company in Hamriyah Free Zone is the exemption from corporate and personal income taxes for a period of 25 years. This provides significant cost savings for businesses.
3. Foreign Ownership
Hamriyah Free Zone allows 100% foreign ownership, enabling entrepreneurs to have full control over their business operations. This eliminates the need for a local sponsor or partner.
Company Setup Process in Hamriyah Free Zone
The process of business setup in Hamriyah Free Zone can be divided into the following steps:
- Business Plan
- Application Submission
- License and Lease Agreement
1. Business Plan
Prepare a comprehensive business plan outlining your company's objectives, activities, and financial projections. This will be required during the application process.
2. Application Submission
Submit your company's application along with the required documents to the Hamriyah Free Zone authority. These documents may include passport copies, bank statements, and a no-objection certificate (NOC) from your current sponsor if you are already based in the UAE.
3. License and Lease Agreement
Upon approval of your application, you will receive your business license and lease agreement for your chosen office or warehouse space within the free zone.
Types of Companies Allowed in Hamriyah Free Zone
Hamriyah Free Zone allows various types of companies to operate within its premises. Some of the key types of companies include:
- Free Zone Establishment (FZE)
- Free Zone Company (FZC)
- Branch Office
1. Free Zone Establishment (FZE)
This type of company can be owned by a single individual or corporate entity. It offers the advantage of 100% ownership and can engage in a wide range of activities.
2. Free Zone Company (FZC)
Similar to FZE, an FZC can have multiple shareholders, either individuals or corporate entities. It offers the same ownership benefits and operational flexibility.
3. Branch Office
Existing companies can establish a branch office in Hamriyah Free Zone to expand their operations. The branch office operates as an extension of the parent company and benefits from the free zone incentives.
Registering a Company in Hamriyah Free Zone
Here is a step-by-step guide to registering your company in Hamriyah Free Zone:
- Choose the Company Type
- Select the Business Activities
- Prepare the Required Documents
- Submit the Application
- Obtain the License and Lease Agreement
1. Choose the Company Type
Determine the type of company you want to establish in Hamriyah Free Zone, whether it's an FZE, FZC, or branch office.
2. Select the Business Activities
Identify the specific business activities your company will engage in. This will determine the type of license you need to obtain.
3. Prepare the Required Documents
Gather the necessary documents, which may include passport copies, bank statements, and a business plan. Make sure all the documents are in order and meet the free zone authority's requirements.
4. Submit the Application
Submit your application along with the required documents to the Hamriyah Free Zone authority. Pay the necessary fees and await approval.
5. Obtain the License and Lease Agreement
Once your application is approved, you will receive your business license and lease agreement. This will allow you to start operating your company in Hamriyah Free Zone.
Business Support Services in Hamriyah Free Zone
Hamriyah Free Zone offers a range of business support services to facilitate the growth and success of companies. These services include:
- Administrative Support
- Networking Opportunities
- Access to Industry Expertise
1. Administrative Support
Hamriyah Free Zone provides administrative services such as visa processing, document attestation, and translation services, making it easier for companies to manage their operations.
2. Networking Opportunities
2.The free zone organizes various networking events and trade exhibitions, allowing companies to connect with potential clients, partners, and investors, thereby expanding their business networks.
3. Access to Industry Expertise
3.Hamriyah Free Zone has a pool of industry experts who can provide guidance and support to companies. These experts offer valuable insights and help businesses navigate challenges.
Cost of Setting Up a Business in Hamriyah Free Zone
The cost of setting up a business in Hamriyah Free Zone depends on various factors, including the type of company, office space requirements, and the chosen business activities. It is advisable to consult with the free zone authority or a business setup consultant in sharjah to get a detailed cost breakdown based on your specific requirements.
Connect with Neeja Corporate Services
Are you looking to start your new company in sharjah but feeling overcome by the registration process? Don’t worry, you’re not alone. Setting up a business in a foreign country can be challenging, but with the right guidance and support, it doesn’t have to be a stressful experience. Neeja’s business setup offers complete support and serves as a one-stop shop for company setup in sharjah. We provide a wide range of value-added services, such as license applications and VAT registration. Over the years, we have successfully advised many new entrepreneurs to make their business dreams a reality.
To book a free consultation, call on +971 43243031. You can also send a WhatsApp message at +971 50 465 2843. To connect over email, send us your query at [email protected].
Why Choose Us
Neeja Corporate Services is one of the leading consultants and solution providers for licensing, business incorporation, and other related activities. With the right set of expertise and experience, we help entrepreneurs and business owners acquire licenses and registration in a short span of time.
Start Your Entrepreneurship in Hamriyah Free Zone With Neeja
Incorporate Your Business Setup in Hamriyah Free Zone
Company Setup Insights
Keep up with the latest company setup insights.
With articles from our team of experts.
