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Sharjah free zone

 

In recent years, the United Arab Emirates (UAE) has become a preferred destination for entrepreneurs and businesses looking to establish a foothold in the Middle East. Among the UAE’s top business-friendly locations is the Sharjah Free Zone, a dynamic and rapidly developing economic hub. This article aims to provide a comprehensive guide to setting up a company in the Sharjah Free Zone, exploring its benefits, the incorporation process, and why it is an excellent choice for business expansion. The Sharjah Free Zone is a designated area within the emirate of Sharjah, offering a wide range of business incentives and benefits for international investors. It is strategically located, with easy access to key seaports and airports, making it an ideal location for companies engaged in import-export activities. Make a business setup in Sharjah freezone with Neeja Corporate Services

A Free Zone is a designated geographical area within a country that offers unique benefits and incentives to businesses, attracting foreign investment and fostering economic growth. The Sharjah Free Zone is one such zone, strategically situated in the emirate of Sharjah, UAE. It provides an investor-friendly environment with simplified regulations, 100% foreign ownership, and zero import and export duties. Whether you are an aspiring entrepreneur or an established business owner, Sharjah Free Zone offers a plethora of advantages that make it an attractive destination for investors from around the globe.

Free Zones In Sharjah

Sharjah Airport International Free Zone (SAIF Zone)

Located adjacent to Sharjah International Airport, SAIF Zone is one of the most established and popular free zones in the region. It offers a wide range of facilities and services to various industries.

Hamriyah Free Zone (HFZ)

Hamriyah Free Zone is situated on the western coast of Sharjah and is known for its strategic location and extensive infrastructure. It caters to various sectors and industries.

Sharjah Media City Free Zone (SHAMS)

SHAMS is a creative and media-focused free zone, catering to companies in advertising, media, film production, and related fields.

Sharjah Publishing City Free Zone (SPC)

Specifically designed for the publishing, printing, and media industries, SPC provides state-of-the-art facilities for businesses in this sector.

Business Setup In Sharjah Free Zone Cost

Sharjah Freezone Setup Fee

AED 4500
  • License
  • Certificate Of Formation
  • E-commerce, General Trading , Consulting
  • Memorandum Of Association (MOA)
  • Lease Agreement
  • Share Certificate
  • Bank Account assistance
  • Vat Registration assistant

Sharjah Freezone Setup Fee

AED 6500
  • License
  • Certificate Of Formation
  • E-commerce, General Trading , Consulting
  • Memorandum Of Association (MOA)
  • Lease Agreement
  • Share Certificate
  • Bank Account assistance
  • Vat Registration assistant

1 Visa License

AED 14900

3 Types Of License Involved - Business Setup In Sharjah Free Zone

The specific types of licenses available in business setup in sharjah freezone can vary depending on the free zone's regulations and offerings. However, we can provide you with some common types of licenses that are typically available in most free zones, including Sharjah Free Zone

Trading License

Allows the holder to carry out trading activities such as importing, exporting, and re-exporting goods within the free zone and internationally.

Industrial License

Permits the holder to engage in manufacturing, processing, and assembly activities within the free zone.

Service License

Authorizes the holder to provide specified services within the free zone, such as consulting, marketing, IT services, etc.

How To Start A Business In Sharjah Free Zone

Starting a business in Sharjah Free Zone involves several steps and procedures. While the exact process may vary depending on the type of business and the specific free zone, here is a general outline of the steps 

Research and Feasibility Study

Conduct thorough research to determine the feasibility of your business idea in Sharjah Free Zone. Analyze the market, potential competitors, and the demand for your products or services.

Choose the Type of Business and Free Zone

Decide on the type of business you want to establish and choose the appropriate free zone in Sharjah that aligns with your business activities.

Select a Business Name

Choose a unique and relevant name for your business. Ensure that the name complies with the free zone's naming guidelines.

Legal Structure and Shareholders

Determine the legal structure of your business, such as a Free Zone Establishment (FZE) for a single shareholder or a Free Zone Company (FZC) for multiple shareholders. Decide on the shareholding structure as well.

Obtain Initial Approval

Submit your business plan and required documents to the Sharjah Free Zone authority to obtain initial approval for your business setup.

Submit Documents

Prepare and submit all required documents to the relevant free zone authority. The documents may include passport copies of shareholders, business plan, application forms, and any other specific requirements.
Advantages of business setup in sharjah free zone

Setting up a business in Sharjah Free Zone offers several advantages that make it an attractive choice for entrepreneurs and investors. Some of the key advantages includes :

  1. 100% Foreign Ownership: In Sharjah Free Zone, foreign investors can have full ownership of their businesses without the need for a local sponsor or partner. This level of ownership provides greater control and flexibility in managing the business.

  2. Tax Benefits: One of the most significant advantages of Sharjah Free Zone is the exemption from corporate and personal income taxes for a specific period, usually up to 25 years. This tax-free environment can lead to substantial cost savings for businesses.

  3. Repatriation of Profits: Business owners can fully repatriate their profits and capital back to their home country without any restrictions. This allows for easy movement of funds and better financial planning.

  4. Customs Duty Exemption: Businesses established in Sharjah Free Zone enjoy exemption from customs duties on the import and export of goods within the free zone and for re-export purposes.

  5. Simple Company Setup: The process of setting up a business in Sharjah Free Zone is relatively straightforward and efficient. The free zone authority provides streamlined procedures and a supportive business environment to facilitate company formation.

  6. Access to Strategic Markets: Sharjah is strategically located in the UAE, providing easy access to regional markets in the Middle East, Asia, and Africa. This geographic advantage opens up new opportunities for trade and expansion.

  7. State-of-the-Art Infrastructure: Sharjah Free Zone offers modern infrastructure, including world-class office spaces, warehouses, and logistics facilities. This well-developed ecosystem supports businesses in their operations and growth.

  8. Business Support Services: The free zone provides a range of business support services, including legal and administrative assistance, visa processing, and dedicated business support teams to help entrepreneurs navigate the setup process and ongoing operations.

  9. Free Zone Benefits: Businesses in Sharjah Free Zone benefit from a Free Zone status, which grants them more relaxed regulations and customs procedures compared to companies operating outside the free zone.

  10. No Currency Restrictions: There are no restrictions on the currency in which business transactions are conducted within the free zone, making it easier for international businesses to operate.

  11. Diverse Business Opportunities: Sharjah Free Zone caters to various industries, allowing businesses from different sectors to thrive and collaborate.

  12. Networking Opportunities: Being part of a free zone community provides networking opportunities with other businesses, fostering potential partnerships and collaborations.

Overall, Sharjah Free Zone offers a favorable and competitive business environment for investors and entrepreneurs seeking to establish their presence in the UAE and expand their reach to regional and global markets.

Advantages of Sharjah Media City

Frequently Asked Questions

1. What is a free zone in Sharjah?

A free zone in Sharjah is a designated area where businesses can operate with various benefits such as tax exemptions, 100% foreign ownership, no customs duties, and simplified company setup processes.

3. What are the main benefits of setting up a business in a Sharjah free zone?

The benefits of setting up a business in a Sharjah free zone include tax advantages, 100% foreign ownership, full repatriation of profits, no import/export duties, modern infrastructure, and simplified company registration procedures.

2. How many free zones are there in Sharjah?

Sharjah has several free zones catering to different industries. As of my last update in September 2021, there are around seven major free zones in Sharjah.

4. Can I have a local sponsor or partner in Sharjah free zones?

No, one of the advantages of setting up a business in Sharjah free zones is that you do not require a local sponsor or partner. Foreign investors can have 100% ownership of their businesses.

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