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Sole Proprietorship Sharjah

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MAINLAND COMPANY IN SHARJAH

What is a Sole Proprietorship in Sharjah?

A sole proprietorship in Sharjah is a business entity which is owned and managed by a single individual. It allows the entrepreneur to have complete control over his/her business decisions and operations. This type of company structure is ideal for those who want to set up their business without much hassle.

Benefits of a Sole Proprietorship Business in Sharjah

This type of business structure is different from other business entities where you will need to share the ownership with other partners or shareholders. In a sole proprietorship, you have full control over your business. This means you can solely take your business decisions and profits.

When it comes to the cost of setting up a sole proprietorship in Sharjah, this type of business entity doesn’t require much investment. Also, there is no personal tax and minimal corporate tax which too depends on your annual revenue.

How to Set Up a Sole Proprietorship in Sharjah?

The first step is to select your business activity. Since Sharjah allows various business activities, you will need to choose an activity that you have expertise in. Also, you will need to consider market demand as just being passionate about a business when there’s no market demand will not help you sustain in the long run.

Next, select a trade name for your company. This name must comply with the regulations set by the Department of Economic Development (DED) in Sharjah. Make sure that the name doesn’t contain any offensive words, or religious references or resemble existing business names.

After selecting the appropriate trade name, you are required to apply to DED to obtain initial approval. The DED will verify your application for the trade name and if found satisfactory, they will issue you an initial approval. Post this you will have to work towards securing an office space in Sharjah. This is essential as any business operating in Sharjah needs to have its physical office compulsorily.

You will need to submit the tenancy contract and Ejari certificate, trade name reservation, initial approval, and other supporting documents to DED. Once your application is reviewed and verified, you will be issued a license to start a business in Sharjah. The process for obtaining the permit after submission of the documents may take anywhere from 2 to 4 weeks.

Documentation Required for Business Setup in Sharjah

To establish a sole proprietorship, you will need to provide several documents as below:

Trade name reservation certificate.
Initial approval certificate
A copy of your passport
A utility bill or tenancy contract.
No Objection Certificate (NOC) is required if you are currently employed.
Tenancy Contract and Ejari Certificate.

Types of Businesses Covered Under Sole Proprietorship in Sharjah

You can choose from a wide range of business activities in Sharjah as illustrated below:

Consultancy services, such as management, marketing, legal, and business consultancy.
Professional services, which include accounting, auditing, and legal advice.
Trading businesses, such as retail, wholesale, and import/export.
Freelance work across creative and technical fields.

Work with the Best Business Setup Consultant in UAE

Establishing a business in a sole proprietorship can be difficult especially if you are new to the market and have no business background. However, with the right guidance, it can be a smooth experience. Coprin Consultants, the best company formation consultants in the UAE provides expert advice on choosing the right business activity to assist you with document preparation, office space search, document submission, visa for employees, bank account opening and more so you can start your business full-fledged!