The model of setting up a company in free zones has worked wonders for the United Arab Emirates (UAE). It has not just brought business to the country but has also developed a layer of national security as interests of all nations are attached to the well-being of the UAE through business and industrial ties.
There are nearly 50 free zones in the UAE, and different free zones are made for different purposes, and specific incentives are given to the company in order to support particular industrial growth at different times and different areas. This is how the country attracts almost all kinds of industries and supports every Business Setup in UAE.
Sharjah is referred to as the cultural capital of the UAE. It has five free zones known for serving different purposes. Today, we are going to discuss one of its free zone known for printing and publishing. Yes! You got it right; we will have a detailed overview of Sharjah Publishing City Free Zone.
Sharjah Publishing City (SPC) Free Zone
SPC Free zone Sharjah is the world’s first free zone in the field of printing and publishing. It offers humongous opportunities to the book industry by capitalizing on tax-free privileges while benefitting from being a wholly independently-owned and operated company. The companies which are into publishing, have the incentive to operate in an environment which encourages quick growth and helps in reaching markets that the companies did not have access to previously.
Sharjah Publishing City is under the management of the Sharjah Book Authority (SBA).The SBA was launched in the year 2014 by Emiri decree by His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi, UAE Member of the Supreme Council and Ruler of Sharjah. It aims at enhancing investment in creative industries, building platform for culture and knowledge exchange between the people of the world, highlighting the importance of books in today’s world of multi-media, and also supporting the children’s book industry.
Set up a Business in SPC Free Zone
Opening a company in Sharjah Publishing free zone is simple and straight-forward and includes the same steps as any other Sharjah Free Zones. Follow the steps as under to start your business in SPC FZ.
1.What type of company would you like to register for SPC?
Here, there are three main types of business entities you can look forward to. They are as follows-
- Set up a new company- It includes,
- Free Zone Establishment- A single shareholder company (where the shareholder can be an individual or a company)
- Free Zone Company- Multiple shareholder company with maximum limit 7 (where the shareholder can be an individual or a company or mix of both)
- Open a Branch- It includes,
- Local- Branch of a UAE company
- International- Branch of a foreign company
- Commercial Leasing- It includes,
- Business services
- Food and Beverage
Once you choose this, we can move forward to the next step.
2.What type of Business License are you looking for?
Under this, you will have an option for two types of license. You have to choose the license depending on your business activity. The licenses are as follows;
- Commercial License- It includes activities such as,
- Import and Export
- Storage or Warehousing
- Service License- It includes activities such as,
- All activities related to services
After you complete this step, you will have to gather all the required documents and fill an application form for company registration. Once you fill in the details, you can attach the documents and submit them to the Sharjah Book Authority. They will review every document you have attached and approve/disapprove after a few days.
If approved, you can go to the next step, which is, booking an office or commercial space.
3.Which of the following office/commercial space are you interested in?
SPC provides you with different types of spaces to operate your business from. They are as follows;
- Furnished Office
- Unfurnished Office
- Retail Café/ Restaurant
- Storage Facilities
Choose the one that suits your business.
Once you finish this step and get the Certificate of Incorporation and a Business License, you can officially start your company in Sharjah Publishing City (SPC) Free Zone.
Advantages of Business Setup in SPC FZ
SPC free zone offers vast opportunities to its businesses. Some of them are listed below.
- You can own office space at a low price
- The SPC companies are provided with a 25-year extendable lease contract
- You can employ staff from abroad
- 100% foreign ownership
- 100% repatriation of capital and profits
- Income and export taxes are not applied to the companies operating in this zone
- Visa services for employees are provided online.
If you are one of those, wanting to start a business in this free zone, all that you need is help from a business consultant. We at Commitbiz provide a range of business setup services in the UAE. Contact us today and get to know more.