Your Ultimate Guide to Company Formation in Sharjah Free Zone

by commitbizadmin 24, Jan 2020

Your Ultimate Guide to Company Formation in Sharjah Free Zone

Sharjah is the only Emirate with a land on the Gulf of Oman as well as the Persian Gulf, boosting its image as a logistics and maritime trading hub. Sharjah free zone offers superior business amenities, complete privacy, and excellent infrastructure to its investors. In addition to that, some of the free zones in Sharjah provide affordable land and labour as well as motivations to small and medium enterprises. The free zones have highly-developed infrastructure and 24-hour licensing services to enable quick company formation.

Free Zones in Sharjah

There are 5 free zones in Sharjah:

1. Hamriyah Free Zone

This free zone is one of the cheapest options in Sharjah. It is on its way to becoming the cornerstones of the UAE industrial development. Hamriyah free zone has provided incentives and unique opportunities for investors to form a business in a tax-free area.

2. Sharjah Airport International Free Zone

SAIF zone in Sharjah provides appealing business opportunities to entrepreneurs and investors. The free zone is known as a symbol of efficient operations, and a better alternative for business setup in the UAE free zone.

3. USARTC Free Zone

USARTC free zone was established in the year 2011 as a part of Sharjah’s objective to promote Sharjah as a hub for international business and turn it into an investment-driven economy.

4. Sharjah Publishing City Free Zone

This free zone is managed by Sharjah Book Authority. SPC free zone serves as an ethnic hub for book traders. It provides a vast range of advantages to business groups and investors.

5. Sharjah Media City Free Zone

Sharjah Media City, or Shams, was established in the year 2017 with a vision to be a world-class hub for media and creativity in the region.

Licenses Available in Sharjah Free Zone

The different types of licenses available for business activities in Sharjah Free Zone are:

  • Commercial License
  • Trading License
  • Professional License

Procedure to Start a Business in SFZ

Business setup in Sharjah free zone is relatively more comfortable as compared to other jurisdictions. Free zone authorities require least paperwork and period. Here are the main steps to register your business:

1. Determine the Legal Entity

In a free zone, you can set up one of the two types of businesses:

  • Free Zone Limited Liability Company (FZ LLC) or Free Zone Company (FZ Co.)
  • Free Zone Establishment (FZE)

The alterations lie in the number of stakeholders and whether the shareholder is a natural person or a legal person. All free zones might not incorporate both types of companies. You need to check with the free zone authorities on the kind of company they can register.

2. Choose a Business Name

While you are deciding upon the type of legal entity your business should take, you should choose a trading name.

Under this case, you must check with the corresponding free zone authority in Sharjah about the permitted business names and whether the planned name has already been registered.

3. Apply for a Business License

The type of business license you will apply for depends on the primary activity of your business. You can choose from the license above for your business in Sharjah free zone.

4. Choose an Office Space

You can either lease or buy office spaces in free zones. Office requirements depend on the number of employees and type of business activity of your company.

5. Get Pre-approvals, Register Your Business, and Get Your License

Companies incorporated in free zones are governed by the rules of the particular free zones. To get the essential approvals, you need to apply with the set of documents. The list of documents differs on the type of business activity, the type of business and the requirements of the free zone authority.

Once you complete all the steps stated above, you can officially start your business.

If you feel the need for a consultant who will complete these steps for you, then Commitbiz is just one click away. Our business setup consultants are well-versed with the legalities in the UAE and can make the process hassle-free. Contact us today to know more.