A Quick Guide on Business Setup in SAIF Zone

by commitbizadmin 16, Jan 2020

A Quick Guide on Business Setup in SAIF Zone

SAIF Zone was established in the year 1995 and located next to Sharjah International Airport. It is one of the most reputed and well-established free zones in the United Arab Emirates. It is an ideal place to register a company in Sharjah of all types of businesses. It provides state-of-art infrastructure facilities with air-conditioned and furnished executive suites with reception, pre-built warehouses. SAIF Zone is one of the exclusive places to set up your business not just because of its foreign investment advantages, but also because it provides access to billion customers in the North African and Middle Eastern areas.

Besides this, there are many advantages of setting up your business in Sharjah Airport International Free Zone.

Advantages of Business Setup in SAIF Zone

1. Quick Business Setup Process

Registering a company in SAIF zone is easy and straight-forward. The documents which are required to be submitted for the set up are hassle-free, and moreover, requires only 48 hours to process the business license.

2. Low Costs

The process to register a company in SAIF zone is lower compared to other free zones. This benefit offers businessman with a limited budget to have their business come into existence.

3. Different Business Types

There and many business activities that can be set up in the SAIF zone like finance, trading, industrial, and commercial and so on. Companies that belong to import and export must consider SAIF zone for their business as this free zone will surely meet their requirements.

4. Many Business Setup Options

SAIF zone has places for numerous branches of existing foreign and local businesses, subsidiaries, free zone companies, and free zone establishments. Additionally, activities here are allowed to have up to five shareholders.

5. Geographically Strategic location

As already mentioned above, SAIF Zone is located at the Sharjah International Airport and is also accessible via sea and road.

Features of SAIF Zone in Sharjah

Considering a free zone limited liability company, let us have a look at its characteristics.

Company Type

FZ LLC

Company Information

Confidential

Taxation

No corporate or personal tax

Accounting Requirements

Accounts and auditing not mandatory

Legislation

Sharjah International Airport Free Zone Authority

Local Sponsor

Not required

Number of Directors

Minimum one

Visa Type

Residence Visa

Ownership

100% foreign ownership

 

Types of Business Licenses in SAIF Zone

Here is the list of licenses allowed in SAIF Zone:

1. Trade License

It includes two kinds:

(a) Commercial License: The license holder is permitted to export, import, consolidate, distribute, and warehouse items of the specific license

(b) General Trading: The license holder is allowed to have a large number of products

2. Service License

Under this, all types of services are allowed unless restricted by Federal or local authorities.

3. Industrial License

With the help of an industrial license, one can import raw material, manufacture, process, assemble, package and export the finished product.

Types of Corporate Entities in SAIF Zone

One can start a business through one of these business entities:

  • Free zone Establishment (FZE)
  • Free zone Company (FZC)
  • Branch of Foreign Company
  • Branch of UAE Company

Facilities Provided by SAIF Zone

Utmost care and planning have undergone to include modern facilities in SAIF Zone to make business more effective and efficient. Some of the current facilities include:

  • State-of-the-art office spaces
  • Warehousing
  • Temporary storage facilities
  • Bunker facilities
  • Labour accommodation

Why is SAIF Zone Ideal for Business?

Sharjah serves to be one of the most significant parts of the industrial activity in the UAE. All kinds of businesses from various sectors will feel right at home as Sharjah Airport International Free Zone (SAIF Zone) ensures that every single company is accommodated just the way they want to be. Apart from aforementioned advantages, here are a few more benefits you can get from business setup in SAIF Zone:

  • 100% foreign ownership
  • 100% exemption from corporate and personal income taxes
  • Freedom of repatriation of both capital and profits
  • One of the world’s most sustainable living and working business clusters
  • Highly cost-effective licensing and office space
  • 100% free transfer of funds
  • Launching point into local, regional and international markets
  • A critical mass of sector knowledge and talent

We at Commitbiz provide a one-stop-solution for all your business needs in the UAE. Should you think of forming a company in Sharjah free zone, then we can help you with it. Contact us today to know more.