Sharjah is the third largest state of the UAE; having popularity in the world, especially in the Middle East. It is one of the main urban states of UAE; and traditionally more conservative than its southern neighbor. Sharjah is also known as the cultural city of the UAE; for reason that there are world wise collections of cultural. Sharjah is situated in the southern coastline of the Persian Gulf. Being in such a strategic location; it offers wide range of opportunities of business formation. Thus businesspersons are highly looking for Company formation in Sharjah.
Sharjah connect its business to Africa and Asia markets. Thus, Sharjah forms a perfect and suitable place where one can form a trading business. Sharjah Company formation is widely used for electronic and spare part trading business, which is present need there in Sharjah. And many other different types of business. The main feature for a business setup is explained as under.
There are two options available for business setup in Sharjah; in order to start business in sharjah both local as well as international. One company formation in Sharjah free zone and other is Company formation in Sharjah in local market. The formation of a company in Sharjah is more expensive; if compared to the other area of UAE.
Company formation in Sharjah Main land
Sharjah mainland business setup requires minimum of 2 partners to start; and maximum of 50 partners. At this point it is to pointed out that Sharjah Company formation needs at least one local partner. Local will hold 51% of share in the business. And an expat partner will only hold 49% of share in Sharjah Company. In Sharjah mainland an expat can carry on any type of business except; that is banking, an investment as well as insurance.
There are a lot of options for a sharjah local business; but the most common one is LLC. LLC business follows the most common structure; in which the number of partner can be from 2 to 50. But note that one partner must be a local sponsor.
Legal Entities in Sharjah
- Limited Liability Company: In LLC company formation 2 to 50 partners are allowed to setup the company. In this type of a structure every partner is only liable to the shares he or she invested in the company
- Partnership Company- This type of business structure is for UAE local only. It can be open by two or more than two individuals
- Local Service Agent- This type of a company structure is managed by just one person. The job can be running any business or professional activity; where the setting up owners bear all the financial obligations
- Foreign Company Branch setup- This is for a foreign company exist outside of the UAE; and want to open its branch in the UAE
- Local Company Branch Registration- This is for a local company exist in the UAE; and want to open its branch in the UAE
- Public / Private Shareholding Company- It is a company with shared capital divided into equally
Advantages of Sharjah Company formation in mainland
- There is no mandatory year-wise audit of companies formed in Sharjah.
- Similarly, Company formation in Sharjah has no currency restrictions
- 100% return of capital as well as profits
- Allow to conduct business in Sharjah local market
- Company formation in Sharjah you can shift your company from one place to another in Sharjah
- It is fully allow to take office on rent anywhere
- Wide range of license types; as well as wide range of activities available for Sharjah Company formation.
- Sharjah Company formation has simple set up process.
- Only practical option for many types of business.
- Company formation Sharjah has 100% tax free.
- It requires zero capitals. I think this is the main point about Company formation in Sharjah.
- Company formation in Sharjah has no limits to get employment visas. Due to this expat love about Sharjah Company formation.
Process of Company Formation in Sharjah
The set up process of Sharjah company is very similar to the company formation in Dubai requires the following procedures to be undertaken:
- Sign a lease agreement and MoA in a public notary
- submit all requires documents to get a payment voucher
- Complete the licensing requirements and pay the license fees to get a trade license.
- Decide the type of economic activity your business would be involved in
- Determine the legal type of the company
- Also you need to find a local sponsor for your company
- Submit the company set up for along with a propose company name to the DED; and notarize the MoA (Memorandum of Association)
- File the company documents with DED to get a trade license from the Chamber of Commerce as well as Industry
- Register the trade name of the company
- Procure initial approval
- Obtain approval for location and inspection from the Municipality
- Get an approval for the sign Board
- After getting the trade license you can apply for an establishment card
- Apply for visa for employee from the Ministry of Labor
- Get a stamp on visa from the Immigration Department
Company formation in Sharjah free zone
As we have discus about company set up in the local market; now we are going to discuss something about free trade zone of sharjah. After knowing the above situation; we can say that free trade zone is paying a pivotal role in the country economy. In Sharjah there are three main free trade zones to setup business. One is SAIF zone or Sharjah Airport international free zone; and the second one is Hamriyah free zone and shams media city free zone.
Hamriyah Free Zone
Hamriyah free zone was first start in the year of 1995/94. It became one of the foundations of industrial development in Sharjah. Hamriyah free zone business setup offers geographic advantage over the other free zone in the region. And also offers easy access to major international markets; that is by air, land or sea. Hamriyah free zone is an investor friendly free zone and offers flexibility. This free zone is perfect for the type of business which falls in the category of SME.
It is shortly known as the SAIF zone, it was setup in 1994 / 95. SAIF zone is a large zone; in fact a home for about 6000 businesses addressing from over 90 countries. It also has a very strategic and attractive location; that occurs between major trade routes that link the east to the west. Besides this, it is located close to the Sharjah International Airport and forms a major hub for cargo.
Shams free zone
Sharjah Media City (Shams) was launch in January 2017; to act as a promoter for creative and media businesses to grow as well as thrive. Aiming to be a world class media hub for innovative facilities and services; Shams covers a wide range of activities which is open for those who wish to get on their tactical journey in the UAE. The main purpose of media free zone is to be a world class hub for media and creativity in the region.
Advantages of Company formation in Sharjah free zone
- Sharjah free zone allows 100% repatriation of capital.
- 100% foreign ownership is also a key value of Sharjah free zone
- Company formation in Sharjah free zone has 100% exemption from all kinds of taxes
- You can get your license in 24 hours for Company formation in Sharjah free zone
- On site labor accommodation for Company formation in Sharjah free zone
- Sharjah free trade zone has simple; as well as easy procedure for set up a business.
- In order to compete it offer competitive structure of fee
- Access to over 2 billion customers in sharjah free zone business setup.
- Sharjah free zone business setup allows global; as well as local communications with excellent air, land and sea links
- No restriction on hiring of 100% expatriate workers, and many more.
Why opt for Sharjah free zone business setup?
First of all in the first place; let me tell you that the location of your business is the most important things to consider; that is when going to setup business in any region. In this regard Sharjah produces some extra value due to its strategic location. Sharjah has a liberal economy as well as offer very competitive fees structures. Company formation in Sharjah free zone has very fast setup process. Sharjah free zone offers 100% ownership of the business. That is no need to have a local sponsor to start the business.
Sharjah free zone has 100% tax free. And also offer high return on Investment as well as full Security of Investment. Full repatriation of capital is also allows in sharjah free zone. Very low crime rate; with very fair judicial system in Sharjah. 24 X 7 hotline that ensures provision of labor and equipment. At this point let me tell you one important fact; that is Sharjah Company formation is the alternative of the Dubai business setup.
Business Setup services in Sharjah
First of all in the first place; let me tell you that we are business setup consultants in Sharjah. And we provide business setup services in sharjah and other emirates. We advise our client on the legal structure of the business in Sharjah. We also evaluate each and every inquiry and provide free initial consultation to the beast of our knowledge. At this point let me tell you the importance of why choose us for this job. The procedure of set up a business is very complex; as well as difficult for an expat to go and search for each; and every piece of info. also it is hard for a new person to run after govt official; and get his job done.
How to setup business in sharjah
There are two methods to set up business in sharjah. The first one is to set up by your own; and perform each and every step by yourself. 2nd method is to get in touch with a consultant so that to set up it for you. The question which always client ask; that is, can I set up this by myself; means can i go with first option. Our answer is always no; we do not recommend the first option. We always advise to hire a consultant like us.
Now the 2nd question is why go with 2nd option. The answer is simple i.e. when you need to cut your hair what you do? Are you going in front of a mirror and start cutting your hair; or you going to a professional to cut your hair. And also when you need to replace some part of the car; what you do? Start changing by your own; or take your car to a professional. So why not use the 2nd option to set up a business. So for any type of Company formation in Sharjah; we recommend to go with a specialist.