The COVID-19 crisis has not spared the United Arab Emirates. The country is in a two-week 24-hour lockdown to bring down the cases, which can be spread if social distancing is not followed. As they say, "There is a light at the end of the tunnel," the UAE, as well, has shown an exemplary resilience to combat the virus against affecting the business-side of the country. The Emirates has launched an economic stimulus package to help the entrepreneurs in each part of the country who are suffering from losses due to less or no business.
The free zones are also not behind in launching initiatives to help the companies in their respective free zones. One such free zone is the Sharjah Media City Free Zone. Due to the continuous spread of coronavirus, Sharjah Media City has stepped up to take the number of measures to safeguard the well-being of its staff and customers.
Digital Process Followed for Business Setup
SHAMS initiative includes setting up the business and handling all the paperwork from the convenience of the home, i.e., via digitization. Many such packages are available for business setup in SHAMS. It includes –
- Obtaining Business License with up to three activities, a shared desk, one visa for three years with all fees included and an immigration card
- No e-channel deposit is needed in most of the cases
- Investors can combine trading and consultancy activities in a single license
- Up to 35 percent off on multi-year packages
- 20 percent reduction on Shams' fees for concierge services
Sharjah Media City has been the hub in launching formidable initiatives to strengthen the media panorama with the UAE, notably within the fields of leisure, e-sports, and allied media fields.
At a glance, the SHAMS free zone sets itself apart from others in the country by offering a fully digitized setup and licensing process. Investors do not need to be physically present at the free zone to incorporate the business operations.
Apart from this, the Emirate of Sharjah has also issued a slew of incentives to mitigate COVID-19's impact on the economy. The package of incentives aims to support governmental and private entities, business sectors, and individuals in order to boost business continuity and development in various fields. The benefits include –
- A three-month exemption on fees for economic establishments that are renewing their license between 1 January 2020 to 31 December 2020
- Exemptions from paying rent in the Sharjah Chamber of Commerce and Industry's (SCCI) Trade Building and Trade Building 1, for a period of three months beginning 1 April
- 30% discount to the chamber's affiliated members to participate in Expo Sharjah exhibitions during the year 2020-2021
How can Commitbiz help?
Tough times need tough measures; hence, we at Commitbiz have come up with a #STARTFROMHOME initiative to help businesses in the UAE. We have fine-tuned our business setup procedure so that you can register your business from the convenience of your home. Your company can be incorporated in just ten days, and what's more, you can also apply for an offshore bank account from your home.
Utilize these weeks to register your business in the UAE, and once this pandemic is in control, your company will be up and running. Also, don't forget, with the present economic situation, we're giving away special quarantine discounts on our business setup packages.
Contact us today to incorporate your business in the UAE.