Want to Start a Business in Hamriyah Free Zone?

by commitbizadmin 22, Jan 2020

Want to Start a Business in Hamriyah Free Zone?

Hamriyah Free Zone (HFZ) is situated in Sharjah and was established in the year 1995. HFZ is fast becoming one of the foundations of the United Arab Emirates business development. The free zone provides competitive incentives and unique opportunities to establish businesses in a tax-free environment with full company ownership, exemption from all commercial levies, and repatriation of capital and profits. HFZ succeeds an area of approximately 22 million square meters of critical industrial and commercial land and a 14-meter deep water port which contains scope for expansion.

The aim of Hamriyah Free Zone Authority is to be the most efficient, cost-effective, and profitable free zone in the area with a pledge to excellence leading to the broad-based and supportable development of highly-skilled human labour.

There are seven sub-zones in Hamriyah free zone. The new subzones are called Industrial Zone and Logistics Village. These will have 144 plots of industrial-zoned land and 224 warehouse units, separately. This method is expected to have more investors coming in to conduct a business setup in Hamriyah Free Zone. They are:

  • Oil and Gas Zone
  • Petrochemical Zone
  • Construction World
  • Timber Land
  • Maritime City
  • Steel City and
  • Perfume Land

Startups, SMEs, entrepreneurs, and branch offices can find their place in Hamriyah free zone with precise locations for the kind of industry that they belong in. This type of approach has helped in the upsurge of the company set up in this free zone.

How to Start a Business in Hamriyah Free Zone?

The process of business setup in Hamriyah is quite simple. One of the reasons why the UAE is much-preferred locations for business setup is due to its simplified registration procedures. Let us now find out the steps to set up a company in this Sharjah free zone.

1. Select a Business Entity

The Hamriyah free zone allows two types of corporate structures for its investors. They are:

  • Free Zone Establishment: This is a single shareholder limited liability company
  • Free Zone Company: This is a multiple shareholding company

2. Select a Business Activity and License

The next step is to select the business activity to acquire the license. The list is as under:

  • Commercial License: The license holder can export, import, sell, distribute, and store items as specified in the license. If the finished commodities are sold in the Emirati market, then the holder of the permit must go through a local distributor or a local agent
  • Industrial License: The license holder is allowed to import raw materials for manufacturing, processing, and assembling specified products. The completed products may be exported outside the UAE
  • Service License: This license permits the holder to carry out the business activities which are specified on the license within the Hamriyah Free Zone only

3. Register a Trade Name

The next step is to register the name of your business with the Sharjah Department of Economic Development. The name must not be similar to the name of any established companies in the UAE. You can check the list of names registered online on the official website of DED.

4. Get Initial Approval

Initial approval is to get permission to go ahead with the registration process from DED. One has to fill a form and submit documents to get this approval. If your application gets approved, then you can go ahead with the further process.

5. Submit Documents and Get the Approval

Fill the registration form, submit the documents to the respective authority. The documents are as under:

  • Passport copies of shareholders
  • Visit visa copy, Visa copy, UAE Entry page
  • Registration application signed by directors and shareholders
  • Legal papers signed (in front of the free zone authority)
  • Passport size photo
  • Approval of name and business activity

Then wait for a while to get the support from the authorities. Once your application is approved, you will be provided with Certificate of Incorporation and Business License.

Now, to give you the needed push, here are a few reasons why you can start a business in Hamriyah free zone:

  • Land lease for 25 years renewed for a similar period
  • Accessibility of a 14-meter deepwater port & a 7-meter deep inner harbour nearby to it
  • Pre-built warehouses and office units for lease
  • Wholly designed and furnished Executive office suites
  • International Business Center with the internet, conferencing, and telecommunication facilities
  • On-site accommodation for shareholder’s personnel including recreation centre and health club
  • Significantly developed infrastructure, telecommunications links and access to three seaports
  • Seaports on both coasts in addition to Sharjah International Airport
  • Plentiful and reasonably priced energy
  • Liberty for personnel recruitment and economical workforce
  • Affordable cost of living

How Can We Help?

Commitbiz is a platform that provides business setup services to a business person. Our professional team will guide you through the process to make it hassle-free. Contact us today for incorporation in Hamriyah Free Zone.