- November 7, 2021
- Posted by: DBS
- Category: Business Setup in UAE
Business Setup in Sharjah
Business setup in Sharjah is the top trending topic in the business world. Do you know why? If so, here is the answer to your question. There are many public transportation options to get to Sharjah from Dubai. A third of the manufacturing activity in the United Arab Emirates is based in Sharjah, which has its own international airport and three seaports. We can assist you with all aspects of setting up your business in Sharjah.
Business investors highly value Sharjah as a destination. Due to its location as the hub of Air Arabia, for instance, the Sharjah Airport International Freezone (SAIF) is of great interest to companies that deal with air freight. The Hamriyah Free Zone has its own seaport, so those interested in ocean cargo or sea freight choose it.
In the United Arab Emirates, Dubai is by far the most populous city, so some workers prefer to live in Sharjah, which is quieter, and commute to Dubai for work. Sharjah offers a number of advantages, including the possibility for your employees to arrive at the office with a fresh outlook, which means that they will be more effective at work.
Business Setup in Sharjah – An Overview
Sharjah’s economy is growing, and it has become one of the most attractive industrial investment destinations in the world. The Sharjah government recognizes the importance of the commerce, service, and manufacturing sectors in the country’s economy and has created measures to encourage international investment.
Flexible government plans have been key in garnering the trust of international investors and ensuring the Emirate’s economic dominance. Furthermore, Sharjah’s commercial market growth is realistic since it has always maintained strong international economic relations and good trading relationships with a variety of countries.
In the United Arab Emirates, establishing a business in Sharjah is a means to establish long-term contacts and customer relationships, as well as to secure consistent trade orders.
Why Sharjah is Best for Business Setup?
Additional reasons to consider forming a corporation in Sharjah include:
- Sharjah is regarded as a tax haven (no corporate or income tax).
- It is governed by a modern legal structure.
- There are no restrictions on foreign exchange, trade barriers, or quotas.
- Invest with confidence.
- The Sharjah government offers a variety of incentives to investors.
- Sharjah permits foreign companies to own 100 percent of the city.
- For export, import, and all commercial levies, there is a complete tax exemption.
- Profits and capital are fully repatriated.
- Sharjah features warehousing facilities where investors can keep products for free for up to two months.
- Multiple local and international banks are present, as well as an advanced communication infrastructure.
How to Setup a Business in Sharjah
The following processes must be followed when starting a business in Sharjah:
- Sign a leasing agreement and a memorandum of understanding in front of a public notary.
- To obtain a payment voucher, complete all required documents.
- To obtain a trade license, complete the licensing criteria and pay the license costs.
- Obtain the Name Board’s clearance.
- Fill out an application for a business card.
- Obtain authorization from the Ministry of Labor for employees.
- The Immigration Department will stamp your visa.
- Determine the type of economic activity in which your company will engage.
- Determine the company’s legal form of incorporation.
- Look for a local sponsor.
- Notarize the Memorandum of Agreement (MoA) and submit it to the Department of Economic Development (DED) with a proposed company name.
- To obtain a trade license from the Chamber of Commerce and Industry, file the firm documentation with DED.
- The company’s trade name should be registered.
- Obtain preliminary approval.
- Obtain municipal consent for the location and inspection.
How to Register a Company in Sharjah
A step by step process to follow;
Step 1: Register your Trademark
The cost of a registered trademark is anticipated to be between AED 250 and 2500. It will take one working day to complete the practice. The Sharjah Economic Development Department and the Trade Name Section can assist you with trademark registration. AED 100 is required for trademark registration approval, AED 100 is required for the smart card, and AED 50 to 2250 is required depending on the brand name.
You can skip this step if you already have a registered trademark or trade name. If you’re a first-time investor, you’ll need to register using SEDD’s online portal.
Step 2: Lease Approval for Commercial Properties
Unless you have any past fines from inspection, the cost of obtaining a license is anticipated to be AED 0 and will take only a few hours by the Commercial Protection Section and the Sharjah Department of Economic Development.
Step 3: Special Permissions
In most cases, it will only take a day to complete, and the cost of the service depends on the agency you use.
Step 4: Submitting a License Application
It will cost a total of 11% of the rent contract plus AED 850 for administrative services.
Step 5: Get Signboard Approval
It costs between AED 100 and AED 500 and takes up to one working day.
Step 6: Apply for a Work Permit
You will need AED 2000 to apply for a labor card, and the ministry of labor may take up to two working days to process your application.
Follow all of the steps carefully and hire the best legal representatives who are well-versed in all of the legalities. This would have a more positive impact on your company.
Getting Started in Sharjah: Documents Required
To form a corporation in Sharjah, you’ll need the following documents:
- Form for obtaining a license
- The Ministry of Economy has given its approval.
- If necessary, approvals from other government agencies.
- A certified copy of the tenancy agreement is required.
- Certified Letter of no objection, passport, visa, and residency The stockholders’ Xerox copies.
- Xerox copy of a land map of ownership certificate.
- In the United Arab Emirates, a lease agreement is required.
- Approval from Legal Affairs.
- The Public Notary has certified the partnership deal.
- Xerox copies of national ID and family book
- Signboard
- Report on technical evaluation.
- As proof of trade name reservation, a trade name certificate is required.
Business License in Sharjah
To obtain a business license in Sharjah, you must contact the Department of Economic Development (SEDD), which is a sharjah business licensing authority. To receive a business license, you must submit the following documents along with an application form.
- All shareholders and owners must sign the licensing agreement.
- Certificate of trademark registration.
- Approvals from government authorities for activities that require specific permission.
- Passport photocopy and naturalization certificate
- A letter of no objection from the applicants’ present sponsor, as well as a photocopy of a residence permit/visa information.
- Copy of the Memorandum of Association and a bank letter confirming the capital or balance sheet depositing amount.
- The Ministry of Economy and Planning has given its approval.
- Report on Technical Evaluation.
- A photocopy of the leasing contract has been officially certified.
- In addition to the property document, a photocopy of the plot layout is required.
- Form of a bulletin board.
The authority will provide you with a license after you submit all of the above mentioned paperwork.
Sharjah is home to a number of firms that have started from the ground up. The government offers a variety of incentives to help new firms grow. There are numerous options in Sharjah if one is willing to investigate and discover new business ventures.
Why Should You Invest in Sharjah?
In recent years, Sharjah has achieved tremendous technical, artistic, and cultural advancements. People are drawn to Sharjah because of its history and culture, which encourages entrepreneurs to set up shop in this lovely city. Sharjah has more to offer than the aesthete. There is a lot more that you may get from forming a business in Sharjah.
The city is less expensive, has a working port, and is rich in culture, riches, and history. The business world is flourishing, with several industries vying for first place. Here are a few business options available for company setup Sharjah if an investor decides to invest in the Emirate.
- Health insurance
- Logistics and transportation
- Entertainment and travel
- Environment
DBS
DBS business setup provides a forum for Sharjah entrepreneurs to start a business. Our Sharjah-based experts have extensive experience in this subject as well as local knowledge. They can help the procedure go as smoothly as possible.
Our extensive domain experience and understanding of Emirate regulations enable us to take care of our clients’ passport, visa, and licensing requirements, ensuring that their tasks are performed smoothly and without additional bureaucratic trouble.
Please get in touch with us right away if you want to learn more.
Book a free consultation today!
Call us on +97145667485 or WhatsApp on +971551129344.
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