Sharjah Free Zone Business Setup Services

Are you looking to set up a business in the thriving environment of Sharjah Free Zone? Look no further than DBS Business Setup, the leading consultancy service provider based in Dubai. With extensive experience in business setup, company formation, and business incorporation, DBS offers comprehensive support and solutions for all your business needs. From mainland registration to free zone setup, from pro services to VAT registration, DBS ensures a smooth and hassle-free process, taking care of all the necessary approvals from government departments and authorities. Trust DBS to open your corporate bank account, handle VAT and tax registration, and provide expert guidance for a successful business setup in Sharjah Free Zones.

Sharjah Free Zones

Overview of Sharjah Free Zones

Sharjah, one of the seven emirates of the United Arab Emirates, has emerged as a major business hub in the region. It offers several free zones that provide a favorable environment for businesses to thrive. Sharjah Free Zones are known for their excellent infrastructure, strategic location, and world-class facilities, making them attractive for both local and international investors.

Benefits of Setting up Business in Sharjah Free Zones

setting up a business in a Sharjah Free Zone offers many advantages. Firstly, companies registered in the free zones enjoy complete ownership and control over their businesses, with no requirement for a local sponsor. Additionally, businesses in the free zones benefit from tax exemptions and customs duty waivers, making their operations more cost-effective. The free zones also provide access to state-of-the-art infrastructure and facilities, including office spaces, warehouses, and logistics services. Lastly, investors can take advantage of the strategic location of Sharjah, which allows them to access key markets in the Middle East, Africa, and Asia.

Types of Licenses Available in Sharjah Free Zones

The Sharjah Free Zones offer several types of licenses to cater to different business activities. These include trading licenses, service licenses, industrial licenses, and e-commerce licenses. Each license type is designed to meet the specific requirements of various sectors and industries. By offering a diverse range of licenses, the free zones ensure that businesses can operate legally and efficiently within their respective industries.

Procedure for Business Setup in Sharjah Free Zones

The process of setting up a business in Sharjah Free Zones is straightforward and streamlined. It involves a series of steps, starting with the submission of the necessary documents and ending with the issuance of the business license. The steps generally include selecting a suitable free zone, choosing a company name, drafting the memorandum of association, obtaining initial approvals, preparing legal documents, and submitting the application. Once the application is approved, the investor can proceed with visa processing and, finally, obtain the necessary licenses to commence business operations.

Documents Required for Business Setup in Sharjah Free Zones

To set up a business in Sharjah Free Zones, certain documents need to be submitted as part of the application process. These include passport copies of shareholders and directors, proof of address, a no objection certificate (NOC), memorandum and articles of association (MOA & AOA), a business plan, a lease agreement, bank reference letters, and a power of attorney (POA). These documents serve to establish the identity of the shareholders and directors, provide proof of their legitimacy, outline the business plan, and ensure compliance with the regulations and requirements of the free zones.

Cost of Business Setup in Sharjah Free Zones

The cost of setting up a business in Sharjah Free Zones depends on several factors, including the size and type of the company, the number of visas required, and the chosen free zone. Each free zone has its own fee structure, which may include charges for company registration, license issuance, office space, and visa processing. It is advisable to consult with a business setup consultancy to get an accurate estimate of the costs involved and to understand any additional fees or charges that may apply.

Renewal and Maintenance of License in Sharjah Free Zones

Once a business is successfully set up in a Sharjah Free Zone, it is important to ensure the timely renewal and maintenance of the license. The free zones have specific procedures in place to assist businesses in renewing their licenses before the expiration date. This typically involves submitting the necessary documents, paying the renewal fees, and updating any changes to the company’s structure or activities. It is crucial for businesses to adhere to these renewal requirements to avoid any penalties or disruptions to their operations.

Business Setup Services

Business Setup Consultancy

DBS Business Setup offers comprehensive business setup consultancy services in Sharjah and the wider UAE region. Their team of experts provides valuable guidance and advice to entrepreneurs looking to establish their businesses in Sharjah Free Zones. They assist clients throughout the entire setup process, ensuring compliance with legal and regulatory requirements and maximizing the potential for success.

Company Formation Assistance

DBS Business Setup specializes in company formation in Sharjah Free Zones. They provide end-to-end support, from selecting the appropriate free zone and license type to preparing the necessary documents and facilitating the registration process. Their experienced team ensures a smooth and efficient company formation process, allowing clients to focus on their core business activities.

Business Incorporation Support

DBS Business Setup offers business incorporation support services to ensure that all legal and administrative aspects of the setup process are handled accurately and efficiently. They assist with drafting the memorandum and articles of association, obtaining necessary approvals from government departments and authorities, and guiding clients through the various stages of business incorporation.

Pro Services

DBS Business Setup provides pro services, or professional services, which involve assisting businesses with obtaining approvals, permits, and clearances from relevant government departments and authorities. Their team of experts liaises with the necessary entities and ensures that the required documentation and procedures are completed in a timely manner, saving clients valuable time and effort.

Government Approvals

DBS Business Setup facilitates the process of obtaining government approvals for businesses in Sharjah Free Zones. They have established relationships with various government entities and are well-versed in the specific requirements and procedures involved. Their team ensures that clients meet all the necessary criteria and secure the required approvals to operate legally and smoothly.

Corporate and Business Bank Account Opening

DBS Business Setup assists businesses in Sharjah Free Zones with the opening of corporate and business bank accounts. They work closely with reputable banks in the UAE and guide clients through the documentation requirements and account opening process. By leveraging their industry connections, they ensure a hassle-free and efficient experience for their clients.

VAT Registration and Filing Services

DBS Business Setup offers VAT registration and filing services to help businesses comply with the Value Added Tax (VAT) regulations in the UAE. Their team of experts assists clients in completing the registration process, ensuring accurate filing of VAT returns, and providing ongoing support and advice on VAT-related matters. This ensures that businesses stay compliant with the VAT requirements and avoid penalties.

Corporate Tax Registration and Filing Services

DBS Business Setup provides corporate tax registration and filing services to assist businesses with their tax obligations in the UAE. Their experts have in-depth knowledge of the corporate tax regulations and requirements, helping clients register for corporate tax and submit accurate tax returns in a timely manner. They also provide tax planning and optimization strategies to minimize tax liabilities and ensure compliance with the applicable tax laws.

Benefits of Business Setup Services

Expertise and Experience

Engaging the services of a business setup consultancy like DBS Business Setup brings the advantage of their expertise and experience in the field. They have a deep understanding of the legal and regulatory landscape in Sharjah Free Zones and can provide valuable insights and guidance throughout the setup process. This helps entrepreneurs make informed decisions and avoids costly mistakes or delays.

Time and Cost Efficiency

Setting up a business can be a time-consuming and complex process, especially for individuals unfamiliar with the local regulations and procedures. Business setup services streamline the entire process, saving entrepreneurs valuable time and effort. By handling the documentation, approvals, and other requirements on behalf of their clients, business setup consultancies ensure a smooth and efficient setup process. This also translates into cost savings, as entrepreneurs can focus on their core business activities instead of dedicating time and resources to administrative tasks.

Legal and Regulatory Compliance

Complying with the legal and regulatory requirements is crucial for the success and sustainability of any business. Business setup consultancies are well-versed in the laws and regulations governing business setup in Sharjah Free Zones, ensuring that clients adhere to the necessary legal and regulatory frameworks. This minimizes the risk of legal issues or penalties and allows entrepreneurs to operate their businesses with confidence.

Streamlined Process

Business setup services provide end-to-end support, guiding clients through each step of the setup process. From selecting the appropriate free zone and license type to completing the necessary paperwork and obtaining approvals, business setup consultancies handle all aspects of the setup process. This ensures a streamlined and efficient process, allowing entrepreneurs to start their businesses without unnecessary delays or complications.

Access to Networks and Resources

Business setup consultancies have extensive networks and resources that can benefit entrepreneurs. They have established relationships with government entities, banks, and other service providers, making it easier for clients to navigate the different aspects of business setup. Additionally, they often have access to market research, industry insights, and other valuable resources that can help entrepreneurs make informed decisions and set their businesses up for success.

Procedure for Business Setup in Dubai

Choosing the Business Type

The first step in setting up a business in Dubai is to determine the most suitable type of company. Dubai offers three main types of company formation: mainland company formation, free zone company formation, and offshore company formation. Each type has its own advantages and considerations, depending on the nature of the business and the desired level of ownership and control.

Selecting a Trade Name

Once the business type is determined, the next step is to select a trade name for the company. The trade name should be unique, descriptive, and adhere to the guidelines set by the relevant authorities. It is important to conduct a trade name search to ensure that the desired name is available and not already registered by another entity.

Drafting the Memorandum of Association

The memorandum of association (MOA) is a legal document that outlines the structure, objectives, and rules of the company. It specifies important details such as the business activities, the shareholding structure, and the responsibilities of the shareholders and directors. Drafting the MOA requires careful consideration and must comply with the legal requirements and regulations of Dubai.

Obtaining Initial Approvals

Before proceeding with the company formation process, certain initial approvals need to be obtained from the relevant government authorities. This may include approvals from the Department of Economic Development (DED), Dubai Chamber of Commerce and Industry, Dubai Municipality, and other authorities depending on the type of business and its activities. These approvals ensure compliance with the applicable regulations and allow the company to operate legally.

Preparing the Legal Documents

Once the initial approvals are obtained, the legal documents required for company formation need to be prepared. This includes the MOA, the articles of association (AOA), and any other necessary agreements or contracts. The documents must be drafted accurately and in adherence to the legal requirements to ensure their validity.

Submission of Application

After preparing the legal documents, the application for company formation can be submitted to the relevant authorities. This involves providing all the necessary documents, completing the application forms, and paying the required fees. The authorities will review the application and supporting documents to ensure compliance with the regulations and requirements.

Visa Processing

Once the company formation application is approved, the shareholders and employees of the company can proceed with visa processing. Each individual will need to submit the necessary documents, undergo medical tests, and obtain the relevant visa and residency permits. Visa processing can be complex, and it is advisable to seek assistance from a business setup consultancy to ensure a smooth and efficient process.

Final Approvals and License Issuance

After completing the visa processing, the final approvals are obtained from the relevant authorities, and the company license is issued. This marks the completion of the business setup process, allowing the company to commence its operations legally in Dubai. The license must be renewed periodically to maintain the company’s legal status and continue conducting business activities.

Types of Company Formation in Dubai

Mainland Company Formation

Setting up a mainland company in Dubai allows businesses to operate anywhere in the city and target the local market. Mainland companies require a local Emirati sponsor, who holds a 51% ownership stake in the company. This sponsorship arrangement ensures compliance with the UAE’s legal framework and allows businesses to benefit from the local sponsor’s expertise and knowledge.

Free Zone Company Formation

Dubai offers numerous free zones that provide a favorable environment for businesses with specific activities or requirements. Free zone company formation allows for 100% foreign ownership, exempting businesses from the need for a local sponsor. Free zones offer a range of facilities, including modern infrastructure, tax exemptions, simplified administrative processes, and enhanced privacy and confidentiality.

Offshore Company Formation

Offshore company formation in Dubai, particularly in Jebel Ali Free Zone, offers a unique advantage for businesses engaged in international trade or investment activities. Offshore companies are exempt from local taxes, can hold assets anywhere in the world, and have minimal reporting requirements. However, offshore companies are restricted from conducting business within the UAE.

Benefits of Free Zone Company Formation

100% Foreign Ownership

One of the key advantages of free zone company formation is the ability to have 100% foreign ownership of the business. This allows entrepreneurs and international companies to have complete control over their operations and decision-making processes, without the need for a local partner or sponsor.

Tax Benefits and Exemptions

Free zone companies enjoy several tax benefits and exemptions, making them highly attractive for businesses. They are exempt from corporate and income taxes for a specified period, providing significant cost savings. Free zones also offer exemptions from import and export duties, value-added tax (VAT), and customs duties, further enhancing the competitiveness and profitability of businesses.

Infrastructure and Facilities

Dubai’s free zones boast state-of-the-art infrastructure and world-class facilities, providing businesses with a conducive environment to thrive. Free zones offer modern office spaces, warehouses, logistics services, and advanced communication and IT infrastructure. These facilities allow businesses to operate efficiently, improve productivity, and leverage the latest technologies.

Easy Company Setup

The setup process for establishing a free zone company is streamlined and efficient. Free zones have their own regulatory frameworks and procedures, designed to simplify the setup process and minimize bureaucracy. The processes are straightforward and allow for quick company formation, enhancing the ease of doing business in Dubai.

Simplified Visa Process

Free zone companies benefit from a simplified visa process, making it easier to recruit and retain skilled employees. The free zones offer attractive visa options, including investor visas, employment visas, and dependent visas for employees’ family members. The visa process is typically faster than in mainland Dubai, allowing businesses to quickly onboard their workforce.

Networking Opportunities

Free zones provide excellent networking opportunities, as they attract a diverse range of businesses from various industries. Being part of a free zone ecosystem allows companies to network, collaborate, and establish partnerships with other businesses, increasing market access and potential opportunities. The free zones often organize networking events, trade shows, and exhibitions, further facilitating business connections and growth.

Documents Required for Company Formation in Dubai

Passport Copies of Shareholders and Directors

Passport copies of all shareholders and directors of the company are required during the company formation process. The passport copies must be clear, valid, and in color. This serves to establish the identity of the individuals involved in the company and ensures compliance with the local regulations.

Proof of Address

Proof of address, such as utility bills or bank statements, is required for each shareholder and director. The proof of address should be recent and clearly indicate the residential address of the individual. This is necessary to establish the residential address for communication purposes and to comply with the local regulations.

No Objection Certificate (NOC)

If any individual involved in the company formation process is currently employed in the UAE, a No Objection Certificate (NOC) from their employer is required. The NOC states that the individual is permitted to engage in business activities outside of their current employment. This is essential to ensure compliance with employment regulations in the UAE.

Memorandum and Articles of Association (MOA & AOA)

The Memorandum and Articles of Association (MOA & AOA) are legal documents that outline the structure, objectives, and rules of the company. These documents specify important details such as the business activities, shareholding structure, roles and responsibilities of the shareholders and directors, and regulations governing the operation of the company.

Business Plan

A comprehensive business plan is required for company formation in Dubai. The business plan should outline the nature of the business, market analysis, marketing strategies, financial projections, and other relevant details. The business plan serves to demonstrate the viability and potential of the business and is essential for obtaining approvals and licenses.

Lease Agreement

A lease agreement is necessary to establish a legal address for the company. The lease agreement should be duly signed by both the tenant and the landlord and should specify the terms and conditions of the lease, including the duration and rent amount. A valid lease agreement is required before the company formation process can proceed.

Bank Reference Letters

Bank reference letters from the shareholders and directors are required to demonstrate financial credibility. These letters indicate the relationship of the individuals with the banks, their account balances, and their credit history. Bank reference letters serve as a proof of the individuals’ financial stability and are essential for opening a corporate bank account.

Power of Attorney (POA)

In some cases, a Power of Attorney (POA) may be required during the company formation process. This allows a designated individual or entity to act on behalf of the shareholders or directors during certain business transactions or legal proceedings. The POA must be notarized and authenticated to ensure its validity.

Government Approvals and Licensing

Department of Economic Development (DED)

The Department of Economic Development (DED) is the main regulatory authority responsible for issuing licenses and regulating business activities in Dubai’s mainland. Businesses operating in the mainland jurisdiction of Dubai require approvals and licenses from the DED. The DED ensures compliance with the applicable regulations and monitors business activities to maintain a fair and transparent business environment.

Dubai Chamber of Commerce and Industry

Membership with the Dubai Chamber of Commerce and Industry is required for most businesses operating in Dubai. The chamber represents the interests of the business community and provides a range of services to its members. The chamber promotes economic growth, facilitates business relationships, and plays a vital role in Dubai’s business ecosystem.

Dubai Municipality

Dubai Municipality is responsible for regulating building construction, health and safety standards, and other aspects of public health and environmental management. Depending on the nature of the business, approvals and permits may need to be obtained from the Dubai Municipality to ensure compliance with the relevant regulations.

Dubai Customs

Dubai Customs plays a crucial role in regulating import and export activities in Dubai. Businesses involved in international trade need to obtain customs-related approvals and permits from Dubai Customs. These approvals ensure compliance with customs regulations, facilitate smooth trade activities, and prevent any potential violations or penalties.

Dubai Health Authority

Certain businesses, such as healthcare providers and clinics, need to obtain approvals and licenses from the Dubai Health Authority (DHA). The DHA oversees the healthcare sector in Dubai, ensuring the provision of high-quality healthcare services and compliance with health regulations. Obtaining the necessary approvals and licenses from the DHA is essential for operating in the healthcare industry.

Dubai Land Department

The Dubai Land Department is responsible for regulating and overseeing real estate-related activities in Dubai. Businesses involved in real estate, such as property developers, brokers, and property management companies, need to obtain approvals and licenses from the Dubai Land Department. These approvals ensure compliance with the relevant regulations and protect the rights of all stakeholders involved in real estate transactions.

Dubai Civil Aviation Authority

The Dubai Civil Aviation Authority (DCAA) regulates and oversees aviation-related activities in Dubai. Businesses operating in the aviation sector, such as airlines, airports, and aviation service providers, need to obtain approvals and licenses from the DCAA. These approvals ensure compliance with aviation regulations and safety standards, maintaining the highest level of quality and safety in the aviation industry.

Others

Depending on the nature of the business and the industry in which it operates, additional approvals and licenses may be required from various other government departments and authorities. These may include the Dubai Electricity and Water Authority (DEWA), the Dubai Financial Services Authority (DFSA), the Telecommunications Regulatory Authority (TRA), and other relevant entities. Ensuring compliance with the regulations and obtaining the necessary approvals is essential for operating legally and successfully in Dubai.

Corporate Bank Account Opening

Choosing the Right Bank

Choosing the right bank is a crucial step in opening a corporate bank account in Dubai. The bank should align with the business’s needs and offer the required services and facilities. Factors to consider when choosing a bank include reputation, network and coverage, service quality, digital banking solutions, and compatibility with the nature of the business.

Documentation Requirements

Opening a corporate bank account in Dubai requires specific documentation. The exact requirements may vary depending on the bank and the type of company. Generally, the following documents are required: passport copies of shareholders and directors, proof of address, MOA & AOA, company profile, board resolution authorizing account opening, a certificate of incorporation, and any other relevant documents requested by the bank.

Bank Account Opening Process

The bank account opening process involves submitting the required documents and completing the necessary forms provided by the chosen bank. The bank will conduct due diligence checks, verifying the provided documents and assessing the business’s suitability for a corporate bank account. Once the bank’s internal processes are complete, the account will be opened, and the client will be provided with the necessary account details and access.

Online Banking and Digital Services

Banks in Dubai offer a range of online banking and digital services to facilitate convenient and efficient banking transactions. These services include online account access, international transfers, bill payments, mobile banking applications, and other digital solutions. Online banking and digital services enable businesses to manage their finances remotely and access banking services at their convenience.

International Banking Services

Dubai’s banks provide international banking services, allowing businesses to operate globally and access international markets. These services include multicurrency accounts, foreign exchange services, trade finance solutions, and international payment transfers. International banking services facilitate cross-border transactions, streamline global operations, and support businesses in their international expansion efforts.

Corporate Tax Registration and Filing Services

Corporate Tax Registration Process

Corporate tax registration in Dubai involves registering the company with the Federal Tax Authority (FTA) and obtaining a tax registration number (TRN). The TRN is a unique identifier used to track tax-related activities and obligations. The registration process requires the submission of relevant documents, completion of application forms, and compliance with the regulations and requirements of the FTA.

Preparation and Submission of Tax Returns

Once registered for corporate tax, businesses in Dubai are required to prepare and submit periodic tax returns to the FTA. Tax returns provide a detailed overview of the company’s financial activities, revenue, expenses, and tax liabilities. The returns must be prepared accurately and in compliance with the FTA’s guidelines and regulations.

Tax Planning and Optimization

Corporate tax planning involves maximizing tax benefits and reducing tax liabilities within the legal framework. Business setup consultancies offer tax planning and optimization services, analyzing the company’s structure, activities, and financials to identify opportunities for tax optimization. This ensures that businesses can benefit from available tax incentives and exemptions while maintaining compliance with the tax regulations.

Compliance with Tax Regulations

Compliance with tax regulations is essential for businesses operating in Dubai. Business setup consultancies assist clients in understanding and adhering to the tax regulations, ensuring accurate tax calculations and reporting. This involves staying updated with any changes in the tax laws, fulfilling reporting requirements, and meeting tax payment obligations.

Tax Consultancy and Advisory Services

Business setup consultancies also provide tax consultancy and advisory services to businesses in Dubai. Their experts offer guidance and advice on various tax-related matters, such as tax structuring, tax implications of business decisions, and tax-efficient strategies. This ensures that businesses make informed decisions aligned with their tax objectives and obligations.

In conclusion, setting up a business in Sharjah Free Zones offers numerous benefits, including tax advantages, infrastructure and facilities, and streamlined procedures. Engaging the services of a business setup consultancy can further enhance the setup process, providing expertise, time and cost efficiency, legal compliance, and access to networks and resources. By following the outlined procedures and requirements, entrepreneurs can navigate the business setup process in Dubai successfully and establish their businesses in a thriving and dynamic environment.