We Help You Setup Business in Sharjah; one of the Safest and Liberal Economies in the Middle East!
Setup a Business in Sharjah – A Vibrant and Global Economy
Sharjah is fast emerging as a cost-effective alternative to Dubai for setting up business due to the presence of an International Airport that ensures global air links and dual ports on the west and east coasts of the Arabian Gulf having direct access to North Africa and Indian Ocean.
Its strategic location (Sharjah is situated between Asia, Africa and Europe) offers unmatched possibilities for investors, and therefore sees the influx of approximately 5.2 million investors, consumers and tourists per year.
Sharjah is one of the safest global cities with a very low crime-rate and has an abundance of inexpensive energy. Judicial system in Sharjah is fair, and the economy is liberal with competitive fees structures and property lease rates. Additionally, there is a presence of highly qualified and skilled workforce that is mostly bilingual and very economical. Moreover, there is a provision for sponsorship and visas for the entire staff with 24X7 hotline that ensures provision of labour and equipment.
Why Setting up a Business in Sharjah is a Right Decision?
Sharjah is thriving with economic development, and is one of the most rewarding economic destinations that attract foreign investment. The Government of Sharjah recognizes the importance of trade, service, and manufacturing sectors in sustaining country's economy, and has therefore formed policies that encourage foreign investment.
Flexible government policies have played a crucial role in gaining the faith of global investors, and have largely contributed to the rapid and continued economic growth. Further, the business trend in Sharjah stays positive as it has always emphasized on maintaining global economic ties and friendly trading relations with vast number of countries across the world.
Setting up a business in Sharjah is crucial to build long-term contacts and customer relations, and obtain continuous trade orders in the UAE. Other reasons to consider company formation in Sharjah are:
- Tax haven (no corporate or income tax)
- Modern Legal Framework
- No Foreign Exchange Controls, Trade Barriers or Quotas
- Security of Investment
- High Incentives from the Government of Sharjah for Investors
- 100% Foreign Company Ownership
- 100% Tax Exemption for Import, Export and all Commercial Levies
- 100% Repatriation of Capital and Profits
- Warehousing Facility Where Investors Can Store Goods Up To 2 Months for Free
- Presence of Multiple Local and Foreign Banks and Advanced Communication System
Types of Business Setup in Sharjah
Established in 2009, Sharjah Investment and Development Authority (Shurooq) is an independent government body that focuses on the Asset and Property Management, Development, and Investment in the Emirate. It also overlooks the Economic, Social, Environmental and Cultural development of Sharjah keeping in line with Islamic values.
An Expatriate can choose among 2 categories of business setup in Sharjah; i.e. either Mainland or Free Zone, these are:
Sharjah Economic Department is the licensing authority for issuing all kinds of business licenses in Sharjah except for the free zones.
- Industrial License - To Establish any Manufacturing or Industrial Activity
- Commercial Licenses - For any Kind of Trading Activity
- Professional License - For Service Providers
Free Zone companies in Sharjah can be setup in any of these 2 Free Zones with a minimum capital of 150, 000 AED (approximately US$40,000).
Set up in 1995 in the Emirate of Sharjah, Sharjah Airport International Free Zone (SAIF-Zone) is UAE's industrial powerhouse and one of the most premier business destinations. SAIF-Zone houses more than 4,500 companies (Industries, Commercial companies, and Professional firms) from 91 countries.
To read more on Free Zones in Sharjah, click here.
Hamriyah Free Zone allows foreign nationals to avail 1000% company ownership, and setup business in a tax free environment with repatriation of capital and profits, and all commercial tax exemptions. Depending on the type of shareholding, two types of companies can be setup in Hamriyah Free Zone:
- Free Zone Establishment (FZE) – It is a single shareholder limited liability company setup
- Free Zone Company (FZC) – It is similar shareholder limited liability company setup incorporation with the exception that it allows multiple shareholders (maximum of 5)
Companies can be setup in Sharjah Mainland that comprises of geographical areas setup by UAE Government authorities for commercial purpose. It consists of one of the most developed economic areas in Sharjah with regularized legal policies. Commitbiz can help you setup your business in this Mainland with all the legal formalities.
For a company to be opened as LLC, a capital of 150,000 AED is required. In case you want to avoid spending this capital amount, we can help you setup a civil company, which needs a local partner who will act as a service agent.
Read more about the Mainland companies in Sharjah.
Legal Procedures and Documents Required for Business Setup
For setting up business in Sharjah, there are few procedures and legal formalities that need to be fulfilled. Team at Commitbiz can help you take care of all the required legal procedures and documents to help you setup a business in Sharjah.
- Signing Lease Agreement and MOA in Public Notary
- Processing All Documents to get Payment Voucher Issued
- Fulfilling Licensing Requirements and Paying License Fees to Get Trade License Issued
- Getting Approval from Name Board
- Applying Establishment Card
- Getting Approval for the Employees from Ministry of Labour
- Get Stamp on Visa from Immigration Department
- Getting Special Approvals
- Determining the Type of Economic Activity for Your Business
- Finding a Local Sponsor
- Determining the Legal Form of Business
- Company Registration Application Submission With Proposed Company Name to Department of Economic Development (DED) and Notarizing the Company's Memorandum of Association
- Filing Company's Documents with DED to Obtain Trade License from Chamber of Commerce and Industry
- Registering Trade Name
- Obtaining Initial approval
- Obtaining Approval For Location And Inspection From Municipality
Types of Documents
- Certified Copy of the Tenancy Contract
- Certified No Objection Letter, Passport, Visa and Residency Photocopies
- Land Map or Ownership Certificate Photocopy
- Legal Affairs Approval
- License Form
- Approval from Ministry of Economy
- Approvals from Other Government Entities, if Required
- Partnership Contract Certified by the Notary Public
- National ID and Family Book Photocopies
- Sign Board
- Technical Evaluation Report
- Trade Name Certificate
Setup a Business in Sharjah with Commitbiz
We support global companies setup a business in Sharjah, by taking care of all formalities and procedures from start to finish. Our team has years of expertise and specialization in company formation in Sharjah to ensure that your business gains a strong foothold in this growing economy.
Contact us for business setup services in Sharjah, our experts will be glad to assist you