Company Setup in Sharjah Free Zone | Free Zone Company Setup in Sharjah

Sharjah free Zones

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SHARJAH FREE ZONE

What is Sharjah free Zone

Sharjah free zones are emerging as intriguing destinations for locals and foreign investors alike looking to establish their business in the United Arab Emirates. Its strategic location between Africa, Europe, and Asia makes it an excellent choice for conducting business activities. However, a valid business license in specific activity is necessary to execute a venture. There are 3 main types of business licenses by Sharjah Free Zone Authorities. These include:

Commercial License:

This license is for companies which are engaged in buying and selling of products. Businesses such as logistics, car rental, real-estate etc fall under this category.

Trading license:

This type of business license is for those involved in manufacturing activities. You will also need to have a physical office and can choose between a variety of businesses such as packaging, metal equipment production, furniture manufacturing etc.

Professional License:

This business license is issued to those engaged in providing services such as professional services like educational institutes, law firms, auditing firms, medical services and accounting companies.

Steps to Set Up a Sharjah Free Zone Company

Step 1: Understand your business requirements and select the most appropriate free zone. Sharjah Free Zones offer different facilities for specific industries. By choosing the right business, you can ensure you have access to the right infrastructure and support for your operations.

Step 2: Develop a comprehensive business plan that outlines your objectives, operational strategies, and financial projections. This is important during the company formation in UAE for securing approvals and licenses.

Step 3: Select a unique name for your company and get it registered with the free zone authorities. The name should adhere to UAE’s naming guidelines to avoid rejections.

Step 4: Decide on the type of infrastructure you need, such as office space, warehouses, or land, depending on your business activity. Free zones in Sharjah offer a variety of options suitable for different industries.

Step 5: Open a corporate bank account and deposit the minimum required capital as per free zone regulations.

Step 6: Finalize your company formation in Sharjah by submitting the necessary documents, paying the required fees, and getting the shareholders to sign the formation documents in the presence of free zone authorities.

How to Obtain a Sharjah Free Zone License?

Free zones in Sharjah operate under specific regulations. Depending on your business type, the required documents may vary. Below is a general guide:

Get initial approval by submitting the following documents:

Application form
Business plan
Passport copies of shareholders and the Manager/Director
Specimen signatures of shareholders and the Manager/Director
Two years of audited financial reports for corporate entities or a bank reference for individual shareholders
Title deed of the unit
Letter of Intent
Registry Identification Code (RIC) form for the Manager/Director (notarized)

After securing initial approval, pay the required fees and share additional documents as outlined below for company registration:

Board Resolution appointing a Manager/Director (notarized)
Power of Attorney for the Manager/Director (notarized)
Memorandum and Articles of Association (notarized)
Passport-size photographs of the Manager/Director
Share capital details

After the trade license is issued, lease agreements will be done and a visa process for employees can be initiated. for employees will then begin.

Benefits of Establishing a Business in Sharjah Free Zone

Setting up a business in Sharjah Free Zone provides numerous benefits, including:

100% Foreign Ownership: You get full control of your business without the need for a local partner.
Repatriation of Capital and Profits: There are no restrictions on repatriation of earnings and capital.
Tax and Customs Exemptions: Entrepreneurs are exempted from corporate and personal income taxes, as well as 100% exemption on import/export duties.
Low Setup and Operational Costs: Setting up a company in Sharjah Free zone is affordable as compared to other UAE free zones.

Benefits of Establishing a Business in Sharjah Free Zone

Though the company formation in Sharjah is straightforward, it involves several legal and administrative steps that may be challenging to manage independently. That is where a professional business consulting company Sharjah, such as Corpin Consultants prove useful and make the process significantly easier.

Seek our expert guidance on business setup, from choosing the right free zone to handling the legal formalities required for licensing, registration, and visa processing. So whether you are just starting out or an established entrepreneur looking to set a foothold in Sharjah free zones, partnering with Corpin Consultants, reliable business consulting company Sharjah will save time, effort and enable you to kickstart your business operations seamlessly.