Steps to Start a Business in SHAMS Free Zone

by commitbizadmin 03, Sep 2019

Steps to Start a Business in SHAMS Free Zone

SHAMS or Sharjah Media City is a relatively new free zone which was established in the year 2017. It was found to become a hub for the media and creativity of the region, and since its establishment, it has become popular in a concise span of time. The main reason for its popularity among the entrepreneurs and different start-ups is the facilities it provides. This free zone also caters to other industries, but mainly the creative and media based companies come to set up themselves in this free zone.

Shams tries to inculcate innovation and creativity in the companies in the free zone. Shams Free Zone is different from other media free zones as the companies set up here have to pay low start-up costs. They provide the usual licence packages but also have separate and unique packages such as:

Social Media Influencer Package

Any social media influencer operating in the Shams Free Zone can avail the National Media Council (NMC) permit. This permit will help in the avoidance of fines and closure of your social media accounts.

Holding License

This license has been specially created to the companies and their properties. This license is exclusively sold via the registered agents of Shams Free Zone.

Reasons to Choose Shams Free Zone

There are various reasons due to which the number of companies in the free zone is rapidly increasing. The reasons for choosing Shams Free Zone over other Free Zones in UAE are:

1. Quick and Easy Registration Process

Here the investor can quickly register the company, which is due to the digitalization of the registration process. Shams has made getting a license in the free zone very flexible and comfortable. In order to get a license, the investor need not submit the No Objection Certificate (NOC) and can receive the license in two to three days.

2. Range of Activities

There are various business activities available which can be chosen for registering in the Shams Free Zone. Having a wide range of business options in a single location can prove helpful to both the companies and the free zone as the companies can ask for help with the services amongst themselves and the free zone can serve to a broader client base. 

3. Multiple Business, Single License

Four types of licenses are usually available to a business in Shams Media City. These four licenses are:

Service License

This license is required for the service providing companies

Trading License

This license is required if the company is into selling and exporting of goods. 

Industrial License

This license I necessary for companies which are performing the manufacturing and production of goods.

Holding License

This license applies to the companies which own enough stock in a different company that it can influence its decisions.

The number of activities under a license can be increased after the payment of a specific sum of money.

5. Easy Account Opening

Opening a bank account is a difficult and time taking procedure, but in Shams Free Zone, it is straightforward to open a bank account. A list of banks which have a tie up with the Shams Free Zone will be provided to the investor and the investor can choose where to open their bank account.

6. Shareholders Presence

In Shams Free Zone, the physical presence of the shareholders is not required for the incorporation of a new company.  The related parties can sign the necessary documents and send them to the free zone or the registered agents of the free zone. The free zone will then set up companies and generate electronic copies of the documents which can be used to open up a bank account.

Some of these benefits are not available in the other free zones in the UAE, and this makes Shams Free Zone stand out from the rest of the free zones.

Steps to Setup your Business in Sharjah Media City

  1. The very first step is to go to the online portal of Sharjah Media City and decide from the different types of business license options available to the company. The Options are Service License, Industrial License, Trading License and Holding license.
  1. Next, you need to choose your requirement of the office you need. Will it be a dedicated desk or office, or will it be a shared desk or office?
  1. The third step in the process is to submit all the required documents and forms which can be done either through a consultant or on your own.
  1. The fourth step is the payment of the invoice, which will be raised by the Shams Free Zone. You can also make payments to the consultant, and the consultant will make the payment on your behalf.
  1. The final step is to collect the business license and start trading under your brand new business.

By following the steps as mentioned above, an investor can easily set up his business in the Sharjah Media City. The Media City will also provide you with the option in which you will not have to block a large amount of capital to get a license.

At CommitBiz, we will help you to set up a business in the Shams Free Zone and will take great care of all your business incorporation queries so that you can focus more freely on your business. For more details on the various services we provide, do contact us- we would be happy to help.