Sharjah is said to be one of the most diversified economies in the MENA region and is regarded as the cultural capital, industrial hub, and educational hotspot of the United Arab Emirates. It is located centrally between East Asia and Europe with convenient entrance to vital ports and international airports on both the Arabian Gulf and Indian Ocean.
Over the years Sharjah has grown into a center for arts and culture as well as a leading industrial hub. It is taking a holistic and balanced approach to economic and social development by creating a human-centric experience in conjunction with the development of physical assets and infrastructure. The Emirate is quickly becoming a preferred investment destination, offering competitive advantages to regional and international investors.
Reasons to Invest in Sharjah
We bring you four main reasons to invest in Sharjah.
The investors will benefit from Sharjah’s tremendous potential. From its open-door policy and simplified registration process to special investment zones and a favorable regulatory environment. The economic resilience is further fueled by 55,000+ Small and Medium Enterprises that already take advantage of the Emirate’s supply chain. Investors in Sharjah profit from an attractive and uninterruptedly improving national investment environment. In the World Bank’s 2017 ease of doing business index, the UAE ranked 26th out of 190 countries, up to eight places from the previous year. Besides, the UAE ranked 11th out of 138 countries in the World Economic Forum’s Global Competitiveness Report 2016-17.
2. Tax-Friendly Free Zones
There are more than 13,000 companies with investors from more than 157 nationalities, are currently established in Sharjah’s free zones at a seaport and an airport. The purpose of a free zone is to attract foreign investment because investors around the world will be willing to invest in such tax-friendly areas. It provides benefits lile:
- 100% foreign ownership
- 100% repatriation of capital and profits
- No local sponsor profits
- 100% exemption from export and import duties
- 25-year lease option
3. Exposure from Events
Sharjah plays host to several internationally known expositions and events throughout the year. Sustained by the hospitality and MICE infrastructure in place, the Emirate is securing an exclusive niche in the region’s event calendar. The events include:
- Sharjah Light Festival
- Sharjah International Automobile Show
- Sharjah Biennial
- Sharjah International Education Show
- Sharjah International Book Fair
- Sharjah World Music Festival
- Sharjah Heritage Days
4. Cultural and Industrial Hub of the UAE
The cultural scene of Sharjah has succeeded under the support of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council, and Ruler of Sharjah. In the year 1998, the Emirate was designated as UNESCO’s ‘Cultural Capital of the Arab World’ and today is the home to nearly a quarter of all of the UAE’s museums and popular events such as the Sharjah International Book Fair and the Sharjah Biennial. Featuring a fusion of the old and the new, Sharjah is packed with magnificent mosques, fantastic waterfront hotels, and selection of souks. It is also well-known for its historical beauty, boasting several museums to start a journey of discovery into its vibrant and colorful past.
Booming Industries in Sharjah
There are many business opportunities available in different industries for investors:
Travel and Leisure
This sector provides a range of investment opportunities including hotels, travel, and restaurants.
Transport and Logistics
Since Sharjah is the center for trade and commerce, this sector also provides opportunities to those wanting to get in transport and logistics business.
Sharjah offers an abundance of investment opportunities in its healthcare sector to fulfill the medical needs of the emirate’s population.
With new environmental protection legislation creating the need for ecological products and services, Sharjah is looking to attract investments.
Sharjah is a crucial center of higher education in the region. The education sector offers significant investment opportunity.
Manufacturing is the second-largest sector in the emirate, accounting for one-third of UAE manufacturing output. As an industrial hub, Sharjah offers a wide range of investment opportunities.
Sounds alluring, right?
Are you planning to start your business in Sharjah? Now is the perfect time. We at Commitbiz have advisors who have extensive knowledge in this sector and can help clear all your doubts. Do contact us – we’d be happy to help!