Hamriyah Free Zone (HFZ) – An Ideal Business Destination
Hamriyah Free Zone was established by an Emiri decree issued in November 12, 1995. It is spread across a prime industrial and commercial land sprawling 22 million square meters (approximately) with 14 meter deep water port, with a scope for expansion in future.
Hamriyah Free Zone Authority (HFZA) plays an important role in making HFZ and investor oriented free zone replete with unique opportunities for business expansion like tax exemptions, full company ownership, and competitive incentives by practising flexible and dynamic government policies.
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Strategically located in Sharjah, United Arab Emirates, HFZA benefits from the unique geographic and time zone advantage by being the only Emirate to have direct access to the Indian Ocean, ports on East and West coast of the Arabian Gulf, and an international airport connecting 230 cities. Its extensive transportation links to the Indian subcontinent, backing of a secure and fully convertible currency, and multi-access to neighbouring and global countries like Africa and Asia through land, sea, and air makes it a promising business destination.
Why Setting up Business in HFZA Makes Sense?
Hamriyah Free Zone serving a 1.5 billion people economy has become a pre-eminent industrial base in the United Arab Emirates, owing to its strategic location between three continents. Business registration in Hamriyah Free Zone (HFZ) is one of the most cost effective options for entrepreneurs and corporates as it allows them to enjoy multiple incentives common with UAE Free Zones. Additionally, Hamriyah free Zone business formation makes sense due to the following advantages:
World-Class Infrastructure for Business Setup
HFZA offers highly developed infrastructure and excellent telecommunications links for business setup, and permits companies to practice almost all types to activities in HFZ and avail its advanced infrastructural facilities if the concerned activities are in accordance to the local UAE rules and are environmentally friendly. HFZ's customer-oriented approach allows investors to avail Land, Pre-built Warehouses, Factories and Executive Office Suites in the International Business Centre equipped with conferencing, internet and telecommunication facilities on lease. The lease is granted for 25 years (lease rates are fixed for 5 years), which can be further renewed by 25 years. HFZA further provides investors the freedom to use their leased plots for on-site staff accommodation including recreation centre and health club, or develop 60% of the leased land as per their specific requirements for warehousing our manufacturing purposes.
Tax and Investment Incentives
- 100% exemption from all commercial, corporate, and personal levies / taxes
- 100% repatriation of capital and profits
- 100% tax exemption from import and export duties
- 100% foreign ownership
- No currency restrictions
Types of Licenses Available in HFZA
Based on the type of business activity a company is planning to set up in Hamriyah Free Zone, HFZA issues the following types of licenses:
- General Trading License: It allows investors to distribute, import, and store goods as per the HFZA rules and regulations
- Industrial License: It allows investors to import raw materials from other countries, assemble, manufacture, process and package indicated products, and export the finished product to any foreign country
- Service License: It allows the registered entity to perform certain services (lawyer firms, accounting firms, and business consultants)
- Trade License: It allows trading (import, export and distribution) of products mentioned in the license as per the HFZA rules and regulations
Business Licensing in Hamriyah Free Zone (HFZA)
An individual or a corporate entity can register or set up business in Hamriyah Free Zone in any of the following legal forms:
- Free Zone Establishment (FZE) – entity with one shareholder with a minimum capital requirement of Dhs.150,000 (Applicable for Land / Warehouses) (Approximately US$ 40,000)
- Free Zone Company (FZC) – entity with 2 to 5 shareholders a minimum capital requirement of Dhs.150, 000, approximately US$ 40,000
- Branch of a Foreign Company
- Branch of a Local Company
Minimum Legal Requirements implemented by the HFZA
1. Legal Requirements for Free Zone Establishments (FZE) / Free Zone Company (FZC)
- Each year within 3 months from the end of the financial year, FZE/FZE needs to mandatorily submit their audited financial statements to Hamriyah Free Zone Authority
- FZE / FZC need to have 2 Directors and a Secretary (minimum requirement)
- A single person may jointly hold the office of a Director and the Secretary
- In case the person appointed as the Director or Secretary is a foreign national, he/she should possess valid residence and work permit as per the HFZA rulesIt is mandatory to have at least one of the Directors and the Secretary to be a resident
- It is mandatory to have at least one of the Directors and the Secretary to be a resident
3. Legal Requirements for Companies
- Notarized & attested copy of the Incorporation / Registration Certificate and the Certificate proving Good Standing of the Company
- Notarized & attested Memorandum & Articles of Association of the company
- Notarized & attested Board resolution for incorporation of FZE/FZC in HFZ
- Original reference letter from the bank stating credit worthiness of the company
- Notarized & attested Appointment Letter from the manager defining his powers along with the passport copy
- In case of appointment, the notarized & attested copy of the Passport and the appointment letter for the consultant defining his powers & his specimen signature
Business Set Up Process in Hamriyah Free Zone
Business setup in Hamriyah Free Zone is bound by specific rules and regulations, and team at Commitbiz can help you sail through the entire process with ease. The basic step towards starting your business in Hamriyah Free Zone is establishing a branch or new company (FZE/FZC) in the free zone. Our business development team strives to understand your business incorporation requirements and facilitate office setup, accommodation, documentation and registration formalities, etc. Further, we apply for business Licence on your behalf, deposit the minimum capital in the prescribed UAE bank account, and avail all required licenses to get your company registered by the Hamriyah Free Zone. Additionally,
- We help investors complete the License Application Form and submit his project details
- We help our clients avail provisional approval for the project so that legal documents may be prepared
- We assist in legal documentation by getting parent company's documents from the investors required for opening a branch of a local/international company, and submitting the minimum capital amount for FZE/FZCs (land / warehouses) in the designated UAE Bank for a temporary period of 1-2 days for new incorporations
- We help them sign agreement and makes payments and get the lease and licence issued
- We help them sign agreement and makes payments and get the lease and licence issued
- We help get Certificate of Incorporation issued to new Branch of a Local / International Company (no capital is required to be deposited with the bank)
Furthermore, we assist our clients arrange following documents required for company formation:
- Notarized copy of the License or Certificate of Commercial Registration from the Economic Department (ED)
- Notarized copy of the certificate of Incorporation or Good-standing
Local Company and International Company:
- Notarized copy of the company's Memorandum and Articles of Association
- Notarized copy of the Power of Attorney and of the Board Resolution for opening a branch in Hamriyah Free Zone and to appoint the Manager / Director for the Free Zone operations (along with his passport copy)
- Original Bank's reference letter stating credit worthiness and the good-standing of the company
Commitbiz for Hamriyah Free Zone Company Formation
Commitbiz has vast experience in company formation in Hamriyah and has been facilitating businesses of all sizes setup their operations in this developing free zone of the Middle East. Our team assists you with the entire business setup process from start to finish providing strategic inputs, business plan, documentation formalities, etc. keeping in mind a structure that works best for your company. We ensure that you are provided with advanced infrastructure support and all the amenities required for unhindered business growth in the Hamriyah Free Zone.
Client centric procedures, vast industry experience, and operational transparency are the cornerstones of the company incorporation process at Commitbiz. Our specialized team ensures that company formation experience in HFZ is completely hassle-free for our clients by striving to understand their unique requirements and providing them a solution apt for their business. Contact us for business setup in Hamriyah Free Zone, our team will be glad to assist you.
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Amigos Exhibition LLC
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Albatross Marine Equipments
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Maxwell Dubai LLC
"We've been extremely impressed with the services provided by Commitbiz Management Consultants. Their in-depth knowledge on rules and regulations and prompt actions on each stages of the process made us comfortable.."