Public Shareholding Company in Sharjah

A Public Shareholding Company in Sharjah is one of the legal entities through which you can set up a business in the Emirate. With Sharjah emerging as a dynamic hub for commerce and industry, forming a public shareholding company can be beneficial given the conducive business environment.

To set up a public shareholding company in Sharjah, you need to meet a set of criteria. This article will explore all the necessary things related to this type of business entity. 

What is a Public Shareholding Company?

A public shareholding company is a type of company where the company's capital is split into equal shares, and the liability of each shareholder is limited to the shares they own. This company is also known as a Public Joint Stock Company (PJSC) and is subject to the rules and regulations of public joint stock companies. 

Characteristics of a Public Shareholding Company in Sharjah

A public shareholding company has certain characteristics. Read on to know them:

• This type of business entity has the requirement of minimum capital 
• The  Chairman and Directors must be citizens of the UAE and must own 51 per cent shares of the company.
• Shares of the company can be traded to the public.
• It should have a minimum of 10 founders.

Documents Required to Start a Public Shareholding Company

The documents which need to be submitted to the authorities are mentioned below -

• Certified copy of the Memorandum of Association (MoA)
• Passport copies of directors and shareholders
• Certified copy of Articles of Association (AoA)
• Information about board members
• Reference letter from the bank
• Power of Attorney
• Business plan

How to Incorporate a Public Shareholding Company in Sharjah?

You need to follow the steps mentioned below to set up a public shareholding company in the Emirate -

1. Decide on an appropriate name for your company. 
2. Pick a business activity allowed by the authorities.
3. Select the location to establish the company based on the target audience.
4. Submit the required documents to the appropriate authorities.
5. Pay the fees and secure the relevant business license to register your business at the Sharjah Economic Development Department (SEDD).
6. Apply for a corporate bank account to ensure smooth business transactions in Sharjah.

The formation of a public shareholding company in Sharjah allows you to tap into the vibrant economy of the Emirate. By embracing this business structure, your company can enhance transparency, and avail access to capital and corporate governance standards, thereby contributing to the economic growth of Sharjah.

Commitbiz is a management consultancy firm with 16+ years of goodwill. Our team of consultants will help you set up your private shareholding company in Sharjah with ease. Connect us today!