If you are looking at forming a business in the UAE, look no further than Sharjah.
Here are the reasons; Sharjah is the third largest Emirate, and is among the most developed, contributing almost 45% of the country’s GDP (Gross Domestic Product). Sharjah is also the only Emirate with access to the ports on the eastern and western coast of the Arabian Gulf, access to the Indian Ocean, and direct access to North Africa.
Having established the above credentials for itself, a business set up in Sharjah could be of many types, and you must select it wisely based on your requirements. Here are the types of businesses that can be registered:
- Limited Liability Company (LLC)
- Partnership Company
- Local Services Agent License or Business Partnership License
- Foreign Company Branch
- Local Company Branch
- GCC Company Branch
- Public and Private Shareholding Companies
Also, for a company formation or registration in Sharjah, one of the following types of licenses would be required:
- Commercial License
- Professional License
- Industrial License
The above may sound like good information to have, but there’s more you need to know. There are many benefits of setting up your business in Sharjah in terms of cost savings: there are no corporate taxes, no taxes on export or import. The minimum requirement for opening a company and starting a business in Sharjah is the appointment of one shareholder and one director.
After the pre-conditions have been met, the following steps need to be followed:
- Filing the company registration with the Department of Economic Development
- Drafting the company’s memorandum of association
- Obtaining the trade license
- Filing for an establishment with the Ministry of Labor
- Registering employees with the Ministry of Labor
That does seem like quite an elaborate process and a huge list of things to deal with, doesn’t it?
Not to worry, the best and time-tested approach for assured success in your business aspirations is to engage with an established Business Consultant in Sharjah, someone who knows the business process in and out, and has been doing this for years. Someone like Commitbiz. Do contact us today.