How to Start a Business in the Hamriya Free Zone?

by commitbizadmin 19, Sep 2019

How to Start a Business in the Hamriya Free Zone?

Launched in the year 1995, Hamriya Free Zone has now become a vital part of the UAE’S economic and industrial development. The Hamriya free zone is positioned in Sharjah and is a hub enjoying a strategic location between three continents, with access to other countries via three seaports on both the Arabic Gulf and the Indian Ocean and an International Airport which handles over 80 flights a day from 32 different countries and 230 cities, facilitating entry to markets in the MENA region.

Hamriya Free Zones world-class and highly developed infrastructure facilities all levels of industrial activities serving regional, gulf and global markets. The free zone offers its investors competitive business incentives and unique opportunities.

Benefits of Starting a Business in Hamriya Free Zone

  • 100% foreign ownership is allowed
  • 100% repatriation of profits and capital
  • 100% import and export tax-free
  • 100% exemption from all the commercial levies
  • Zero personal and corporate tax
  • Hassle-free recruitment of staff and labourers
  • Strategic location with access to the UAE and global markets
  • Easy access via highways, 3 seaports, and Sharjah International Airports

Types of Licenses in Hamriya Free Zone

There are three main types of licenses allowed in Hamriya Free Zone. They are;

  1. Industrial License- This license will allow the holder to import raw materials for manufacturing and/or assembly of specified products
  1. Commercial License- This license will enable the holder to import, export, sell, distribute, and sell items specified on the permit
  1. Service License- This license allows the holder to carry out the services which are specified on the license within the Hamriya Free Zone only

Types of Business Entities in Hamriya Free Zone

The two main types of corporate structures in Hamriya free zone are as follows;

  • Free Zone Establishment (FZE)- Is a single shareholder Limited Liability Company which can be incorporated in Hamriyah Free Zone
  • Free Zone Company (FZC)- Is similar in all aspects to a Free Zone Establishment except it allows multiple shareholdings (maximum five shareholders)

Types of Business Activities Allowed in Hamriya Free Zone

Business activities according to business licenses are as follows;

  1. Commercial License
  1. Import, Export, Trading
  1. E-Commerce
  1. Service License
  1. Business Consultancy
  1. Management Consultancy
  1. Marketing Consultancy
  1. IT Consultancy
  1. Design Consultancy
  1. HR Consultancy
  1. Tourism Consultancy
  1. Event Management
  1. Health and Fitness Consultancy
  1. Sports Consultancy
  1. Project Management
  1. Turnkey Project
  1. Marine-related activities
  1. Investment of own resources
  1. Industrial License
  1. Manufacturing
  1. Processing
  1. Packaging
  1. Assembling
  1. Fabrication

Procedure to Start a Business Set Up in Hamriya Free Zone

The steps required to establish a company in this Sharjah free zone are as follows;

  1. Select a corporate structure
  1. Select business entity required for selecting the license
  1. Register business name with a company
  1. Get an initial approval from the Hamriya Free Zone Authority
  1. Fill an application form and submit it with a set of documents
  1. Free zone authority will review the documents and approve/disapprove your request
  1. Certificate of Incorporation and Business License will be given

Documents Required for Starting a Company in Hamriya Free Zone

  • Passport copies of shareholders
  • Visa copy, visit visa copy, UAE Entry page
  • Online application signed by shareholders
  • Legal documents signed( in front of the Free zone authority)
  • Passport size photo
  • Name and activity approval
  • A bank statement, if the owner is a natural person;
  • The company’s Memorandum and Articles of Association, where the own

Company Registration in Hamriyah Free Zone, just like any other free zones in Sharjah, has its procedures on how to register the business. Once you finalize that you want to carry out Hamriyah Free Zone business setup, it is advisable to reach the help of business consultants. We at Commitbiz can help you with business setup services in Hamriya Free Zone. Contact us today- we’d be happy to help you.