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Establishing a company in Sharjah Free Zone

٠٦ يناير Establishing a company in Sharjah Free Zone

Sharjah Free Zone is an ideal destination for investors looking to establish their companies in a flexible and thriving business environment. It offers many advantages that make it an attractive option for businesses of all kinds. Establishing a company in Sharjah Free Zone gives companies great opportunities for growth and expansion, while benefiting from many financial and administrative incentives that make it a preferred destination for local and international investors.

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The most prominent advantages offered by Sharjah Free Zone are tax exemptions on profits for a long period, which contributes to reducing operating costs and achieving greater returns on investment. In addition, the free zone allows foreign investors to benefit from 100% ownership of their companies, without the need for a local partner, which provides them with complete flexibility in managing their businesses and making strategic decisions.

The ease of procedures and speed in establishing companies are key points that make Sharjah Free Zone stand out. The procedures here are simple, allowing investors to establish their companies quickly and efficiently, without having to deal with complex procedures. In addition, the free zone provides advanced infrastructure and modern facilities that support commercial and industrial businesses, which enhances the ability of companies to innovate and expand.

Establishing a company in the Sharjah Free Zone is not just a business move, but rather an investment in a stimulating and prosperous environment that opens wide doors for companies to grow and succeed. Through this article, we will discuss how to establish companies in Sharjah and the benefits that companies can achieve through this step.

Establishing a company in the Sharjah Free Zone

To establish a company in a free zone in Sharjah, similar procedures can be followed to establish a company in other free zones in the UAE. Here are the general steps that can be followed:

Choose the type of company: Determine the type of company you want to establish, such as a sole proprietorship, limited company, joint stock company, etc.

Choose the company name: Choose a suitable and unique name for your company and make sure that it complies with local regulations and legislation.

Prepare documents: Prepare the required documents such as the articles of association, company incorporation contracts, and any other necessary documents.

Visit the free zone: Visit the Sharjah Free Zone to submit the required documents and information.
Pay fees: Pay the fees required for the company establishment process and obtain the necessary licenses.
Obtaining Government Approvals: Ensure that you obtain all necessary government approvals to establish the company in the free zone.

Registering the company: After completing the procedures, the company will be registered in the trade register in the Sharjah Free Zone.

Opening a bank account: Open a commercial bank account in the name of the company to manage financial transactions.
Complying with tax legislation: Ensure compliance with local tax legislation and registering the company with the tax authorities.

Documents required to establish a company in the Sharjah Free Zone

Establishing a company in the Sharjah Free Zone requires submitting a set of basic papers and documents. Here is a list of the documents required to establish a company in the Sharjah Free Zone:

Valid passport: A copy of the passport of each of the shareholders and directors of the company. The passport must be valid for a period of not less than 6 months.
Personal photos: A number of personal photos of the shareholders and directors, usually on a white background and passport-sized.
Proof of residence: If the shareholder or director is a resident of the UAE, a valid proof of residence such as a lease or utility bill must be submitted.
Business plan: A detailed business plan that explains the nature of the company’s activity, the services or products provided, the target market, and future growth plans. Some free zones may require a detailed business plan for a feasibility study.
Registration form: The official registration form for the company, obtained from the administrative authority of the free zone, which must be filled out and submitted with the rest of the documents.
A copy of the lease or office rental contract: A copy of the lease contract for the office or place where the company will be headquartered must be submitted. Some free zones offer virtual office or shared office options.

Contact details: Contact information such as email address and phone number for all shareholders and directors.

Business license: Some businesses may require special permits or additional licenses, especially if the activities include health, education, or other areas that require special permission.

Identity verification: A copy of the Emirates ID card or residence permit for shareholders and directors, if residing within the UAE.

Company articles of association: If the company is owned by more than one person, an articles of association must be prepared that explains how shares, rights and duties are distributed among shareholders.

Bank account details: Some free zones may require bank account details or a letter from the bank where the company account will be opened, to ensure the seriousness of the company’s establishment.

Approval of the competent authorities: Some activities require approval from the competent authorities before issuing a license, such as activities related to health, technology, or import and export.

Types of companies that can be established in a free zone?

In the free zones of the United Arab Emirates, including the Sharjah Free Zone, a variety of types of companies can be established. These are some of the common types of companies that can be established in free zones:

Sole Proprietorship: Managed and owned by one person, with unlimited liability.
Limited Liability Company (LLC): Consists of partners who share capital and profits, with limited liability.
Joint Stock Company: Consists of shareholders who own shares in the company and share profits and losses.
Branch of a Foreign Company: A unit of a foreign company that establishes a branch in the free zone.
Subsidiary: Part of a parent company and is owned by the parent company for more than 50%.
Joint Venture: Formed in collaboration between two or more companies to implement a joint project.
Investment Company: Invests in real estate, securities or other assets.
Import-Export Company: Concerned with international trade and importing and exporting goods.

In conclusion, it can be said that establishing a company in the Sharjah Free Zone represents an ideal strategic step for investors seeking to expand into the UAE markets and the region in general. The Sharjah Free Zone offers many advantages that make it an attractive choice, starting from attractive tax exemptions, to 100% ownership of companies by foreign investors, which provides great freedom in making business decisions.

The regulatory environment in Sharjah is also flexible, which facilitates the process of establishing companies quickly and efficiently, in addition to the advanced infrastructure that includes sea and air ports and logistics facilities that support business activity. On the other hand, the free zone provides great opportunities to access local, regional and international markets thanks to its strategic location, which connects Asia, Africa and Europe.

Also, the integrated services provided by the free zone, such as visa facilities, registration services, and the provision of flexible office spaces, make establishing companies a convenient and hassle-free process. This contributes to enabling companies to expand and grow quickly.

Ultimately, establishing a company in the Sharjah Free Zone is not just a business opportunity, but a strategic investment in an environment that supports businesses and startups. By taking advantage of these advantages, investors can build a strong business base and achieve sustainable success in the long term.

Top FAQs about establishing a company in Sharjah Free Zone

What are the benefits offered by Sharjah Free Zone?
Sharjah Free Zone offers many benefits such as exemption from profits taxes, 100% ownership of companies for foreign investors, ease of procedures, and no restrictions on transferring capital and profits abroad.

Can foreign investors own the company entirely?
Yes, foreign investors can own the company 100% within Sharjah Free Zones, without the need for a local partner.

What are the procedures required to establish a company?
The procedures include submitting the required documents, choosing the business activity, signing the lease contract, obtaining initial approval, and then issuing the commercial license.

Can investors bring in employees from outside the UAE?
Yes, the free zone allows investors to bring in employees from abroad easily, while providing residence and work visa services.