Private Shareholding Company in Sharjah

Whenever we discuss business setup, Sharjah is at the forefront. This is because the Emirate has potential with regard to business opportunities and the benefits it offers to entrepreneurs. If you are looking for information when it comes to setting up a business in Sharjah, you have landed on the right page. This article will help you with all the information needed to form a private shareholding company.  

What is a Private Shareholding Company?

A private shareholding company is a business structure whose share capital is divided into equal shares among the shareholders. They are liable only for the shares they own in the business. A group of investors or entities owns these shares and cannot offer its shares to the public. 

Features of a Private Shareholding Company in Sharjah

• You need to have a minimum capital of 2 million AED.
• The shares of the public shareholding company cannot be offered to the general public.
• To purchase shares of a private shareholding company you will need to meet certain criteria and qualifications.
• The company needs to have a minimum of three shareholders.
• UAE nationals must be appointed as the Chairman and Director(s).

Documents Required To Start Private Shareholding Company in Sharjah

The documents which  need to be notarised and submitted to the relevant authorities are mentioned below:

• Information about all board members (birthplace, nationality etc)
• Passport copy of all directors and shareholders
• No Objection Certificate (for UAE nationals)
• Copies of the Memorandum of Association (MoA)
• Address proof of each shareholder
• Copies of Articles of Association (AoA)
• Power of Attorney

How to Start a Private Shareholding Company?

For seamless company incorporation in Sharjah, you must follow the steps mentioned below: 

1. Select a name for your private shareholding company in Sharjah.  The name should be distinctive and align with the naming regulations.
2. Choose a location for your company in Sharjah. You can choose between the mainland and the freezone. Each jurisdiction has its own set of rules and benefits.
3. Submit the necessary documents to register your company with the Sharjah Economic Development Department (SEDD) or the relevant freezone authorities.
4. Apply for the Trade license by paying the necessary fees.
5. You will need to open a bank account in Sharjah to carry out business transactions.

Establishing a private shareholding company in Sharjah opens up possibilities for growth in a vibrant market. The excellent tax reforms and support of the government allow you to further explore the possibilities of expansion owing to the versatile market of the Emirate.

At Commitbiz, we can assist you with setting up a private shareholding company in Sharjah. Our team of professionals will guide you through the entire process and clarify all your queries. Get in touch with us right away!