Sharjah, the United Arab Emirates' capital city, enjoys a magnificent cultural atmosphere rooted in its rich history and intellect. It is also recognized as the UAE's cultural capital and is the third-largest emirate in the UAE, with an area of 2590 square kilometres.
Why Invest in Sharjah?
Sharjah is poised to become one of the leading players in a stable investment environment in the UAE's international business community that makes them compete at the macro scale. From 2008-2010, there was already a 6% compounded annual growth rate of 6% (CAGR), and economic growth of 3.5%, and a GDP rise of approximately 2% recorded in 2016. The Sharjah emirate has become the nationwide startup centre with the list of high growth ecosystems. The Global Start-up Ecosystem Report (GSER), launched by advisory and research Startup firm Genome and the Sharjah Entrepreneurship Center. The research focuses on more than 1.27 million firms, more than 250 ecosystems, and survey data from startup executives. Sharjah ranks among the top 20 for "Bang for Buck" in Africa and The Middle East and among the top 30 for affordable talent in Africa and the Middle East.
How to Start a Business in Sharjah?
Foreign investors shall meet the legal requirements of the Law on UAE Companies before starting operations in Sharjah. The steps involved in starting up a business in Sharjah are given below.
- File a business registration application with the DED
- Draft the company's MOA
- Get the trade license,
- File with the Ministry of Labor for an establishment card
Our experts can prepare the association articles for registration in Sharjah and any associated services for setting up a company in the UAE.
Types of Trade License in Sharjah
Any one of the following three types of licenses is the essential prerequisite for all Sharjah business activities.
- Industrial licenses for establishing manufacturing activity.
- Professional licenses covering professional services, craftsmen, and artisans.
- Commercial licenses are covering all kinds of commercial trading activities.
The Authorities shall also grant special licenses for other purposes, such as Business Activity Permit, Entrepreneurial License, etc.
Trade License Procedure in Sharjah
The DED is the legal institution that regulates and monitors licensing procedures for business in Sharjah with the institutional assistance of the Chamber of Commerce and Industry. The initial step is to select your business activity while applying for a business license. It is possible to list several activities under one general trade license. You can combine trade, professional services, and commercial activities with the Sharjah license and select more than one.
The next step is to pick a company name after determining the business activities. It is a hard job anywhere in the world, but several specific explanations can be made visible here in the UAE. The UAE has stringent classification arrangements for firms, but these are usually fair and easy to follow. No offensive or blasphemous words should appear on the company's name and organizations. You will have to check that your name is eligible for registration. It can be provided for you by a company formation professionals at Commitbiz. It is time to apply for your license with your name chosen. A business creation specialist will assist you in handling the entire proposal process on your behalf.
Documents Required to Get a Trade License in Sharjah
The exact documents required to start a company in Sharjah are dependent on your business and the location of your business. However, in most cases, you are asked to submit:
- Full form for the request
- Proposed holders or owners Passport copy
- Two passport size photos (colour photos) with a white background
Costs Involved in Getting a Trade License in Sharjah
The below table gives the costs incurred in the Trade license procedure.
|
Activities |
Cost (in AED) |
|
Licensing Certificate Fees |
29,000 |
|
Initial Approval for Your Business |
335 |
|
MOA-Legal Translation Services |
1900 |
|
Notarization |
700 |
|
Trade Name Reservation |
735 |
How to Renew/Cancel License In Sharjah?
Renewal
Unless the Trade License is upgraded, One cannot conduct business in Sharjah. You can change your business sponsor and business address if needed when the time comes for the renewal of your Sharjah trade license. Commitbiz provides full support in the renewal of the trade license if you wish. If your permit must be renewed, we will give you prompt updates. Commitbiz works with you from start to finish to manage your business setup in UAE.
Cancellation
No matter what type of business you own in the UAE, you must cancel your business license and all related permits associated with it when you decide to close it down. You can reach out to our advisors to get more details on formalities for closing your business and cancelling its license correctly.
Why Commitbiz?
Commitbiz is an experienced consulting firm in the UAE. If you want to start up a business in Sharjah, or elsewhere in the UAE, we can support you at any point in time. We handle everything from visa applications to all the required tasks that enable you to start your business. Contact us now and be the first mover to tie up with one of the top consultancy firms in UAE.