Sharjah is the third largest Emirate of the UAE and the only one to have land on the Gulf of Oman and the Persian Gulf. This constitutional monarchy is spread over an area of 2600 sq. km, and attracts over 5 million investors and tourists annually. Strategically located between Africa, Europe and Asia, Sharjah boasts of a low crime-rate and a fair judicial system.
This liberal economy is also one of the world’s safest cities with free trade zones that have been set up to boost local economy and drive foreign investment. Sharjah has forged excellent trade relationships with more than 125 global countries, which contributes largely towards domestic trade. Three seaports and free zones in Sharjah also play a major role in empowering the economy of the region.
Benefits of Setting Up a Business in Sharjah
- Sharjah has Competitive real-estate prices, and property & management leases.
- The emirate has world-class ports and an international airport.
- Sharjah has presence of over 40 international banks.
- There is abundant and low-cost supply of energy.
- Sharjah is easily accessible via land, sea and air routes, another factor bolstering trade in the emirate.
- There are no foreign exchange controls, quotas or trade barriers in Sharjah.
Process of Business Setup in Sharjah
- Prepare the Memorandum of Association (MOA) of the company, and get it notarized in a public notary.
- Complete the licensing requirements and pay the licence fees to get a trade licence for your company.
- Decide upon a name for the company, and submit it to the Name Board.
- Apply for an establishment card.
- Obtain an approval for employees from the Ministry of Labour
- Get a stamp on visa from the Immigration Department
- Based on the type of activity the company would be carrying out, decide its legal entity type
- Find a local sponsor
- Submit the company registration application with a proposed company name to the Department of Economic Development (DED)
- File the company documents with the DED to get a trade licence from the Chamber of Commerce and Industry
- Obtain an approval for location and inspection from the Municipality