Sharjah, an integral part of the United Arab Emirates, which consists of seven emirates, has established itself as a thriving business hub, characterized by a fleetly growing economy and a favorable business climate. As entrepreneurs and investors laboriously seek new prospects, the appeal of locating a business in Sharjah has increased significantly. This composition aims to give a comprehensive overview of the process of carrying Sharjah Free Trade Zone license and the benefits and openings it offers to businesses.
Benefits of Business Set Up in a Sharjah Free Zone
What exactly constitutes a Sharjah Free Zone? These technical profitable zones are located in Sharjah and are designed to give an profitable environment for trade, investment and entrepreneurial activities. The importance of Sharjah Free Zones is due to their strategic positioning, well- developed infrastructure and the wide range of industries that flourish within their boundaries. Notable sectors that flourish in these free zones include manufacturing and industry, media and creative ventures, trade and logistics, information technology and invention, and healthcare and education.
Benefits of Business Set Up in a Sharjah Free Zone
Establishing a business in a Sharjah Free Zone offers numerous benefits and advantages for businesses. Here are some of the key benefits associated with setting up a business in Sharjah’s free zones:
- Full foreign ownership: Entrepreneurs and companies can enjoy full control over their businesses without needing a local partner or sponsor.
- Strategic geographic location: Sharjah’s central location in the UAE provides convenient access to key international markets in the Middle East, Asia and Africa. The well-connected transport network, which includes ports, airports and highways, facilitates global trade and logistics.
- State-of-the-art infrastructure: Sharjah’s free zones have a world-class infrastructure that includes modern offices, warehouses, manufacturing facilities and advanced telecommunications services. These facilities are designed to meet the diverse needs of businesses across a wide range of industries.
- Comprehensive business support: Sharjah’s free zones, such as the renowned Sharjah Research Technology and Innovation Park (SRTIP), offers a wide range of support in business license services in Sharjah. These services include assistance with business registration, licensing, visas, permits, and access to banking, legal and advisory services.
- Industry-specific zones: In the Sharjah Free Zone, different sectors are accommodated through specialized zones, such as Sharjah Publishing City, the world’s first free zone for publishing. This specialization fosters a conducive business environment and allows companies to take advantage of industry-specific infrastructure and networking opportunities.
Steps to Obtain a Free Zone License in Sharjah
To acquire a license in Sharjah Free Zones, follow these straightforward steps:
- Select Your License Type: Choose the right license type for your business activity, such as a trading license, service license, industrial license, or media license.
- Company Name Reservation: Secure a unique name for your business by using the online portal or submitting a name reservation application. Make sure that the name complies with the naming rules of the free zone and does not infringe existing trademarks or copyrights.
- Submit Your Initial Application: Complete the application form provided by the free zone, supplying accurate business information.
- Secure Office Space: Lease an office space within the free zone that complies with their specifications and requirements. Ensure the office space meets their criteria.
- Prepare Necessary Documentation: Gather the required documents for your license application. While the specific documents may vary based on your license type, typically, you’ll need:
- A completed application form.
- Passport copies of shareholders, directors, and managers.
- A business plan.
- Memorandum and Articles of Association (MOA/AOA).
- Your office space lease agreement.
- Relevant educational or professional qualifications (if necessary for your license).
- Submit Your Documentation: Submit the filled-in application form along with all necessary documents to the Sharjah Free Zone authority in order to proceed with their review.
- Make Payment: Pay the required free zone license cost within the specified timeframe to receive your license and other pertinent documents and certificates once your payment is confirmed.
Ensuring compliance with legal and regulatory requirements when obtaining a license in Sharjah Free Zones is essential. This establishes not only the legality and responsibility of your business operations but also safeguards you from potential legal issues.
When it comes to setting up a business in the UAE, you do not have to go through the process alone. Whether you need help preparing documents or assistance setting up a bank account, SRTIP is then for you. We offer a range of services tailored to your specific business requirements, from the original stages right through to the future. Are you ready to start your business in a Sharjah free zone? Contact SRTIP moment.