Sharjah is a flourishing economy, one that attracts bountiful foreign investment. The Government of Sharjah acknowledges the importance of trade, service, and manufacturing sectors in sustaining the nation’s economy, and has thus charted policies that promote foreign investment. The government policies in Sharjah are favorable towards budding businesses, and have hence gained the faith of global investors, contributing to the rapid growth of the business milieu in Sharjah.
Limited Liability Partnership- Minimum 2 and Maximum 50 members are allowed under this business structure. The liability of the partners is equal to the shares invested in the company
Partnership Company- This type of business structure is for UAE nationals only. It can be started by two or more individuals
Local Service Agent- This business structure is managed by just one person. The function can be running any business or professional economic activity where the establishment owners bear all the financial obligations
Foreign Company Branch Registration- This is for an established business situated outside the UAE wanting to have its branch in the UAE
Local Company Branch Registration- This is for an established company situated in the UAE wanting to have its branch in the Emirates
GCC Company Branch Registration
Public/Private Shareholding Company- It is a company with shared capital divided into equally
Process of Company Formation in Sharjah
Setting up a business in Sharjah requires the following procedures to be undertaken:
Sign a lease agreement and MoA (Memorandum of Association) in a public notary
Process all requisite documents to get a payment voucher issued
Complete the licensing requirements and pay the license fees to get a trade license issued
Get an approval from the Name Board
Apply for an establishment card
Obtain an approval for employees from the Ministry of Labor
Get a stamp on visa from the Immigration Department
Decide the type of economic activity your business would be involved in
Determine the legal incorporation type of the business
File the company documents with DED to get a trade licence from the Chamber of Commerce and Industry
Register the trade name of the company
Procure initial approval
Obtain approval for location and inspection from the Municipality
Document Required to Start a Business in Sharjah
The following documents are required for registering a company in Sharjah:
Approval from the Ministry of Economy
Approvals from other government entities, if called for
Certified copy of the tenancy contract
Certified No Objection letter, passport, visa and residency Xerox copies of the shareholders
Land map or ownership certificate Xerox copy
Lease agreement [Having a physical address for one’s business/office is mandatory in the UAE. The rent on an average within a free zone area is US$ 25 up to US$ 45 per square feet (US$ 225 up to US$ 400 per square meter)]
Legal Affairs approval
Partnership contract certified by the Public Notary
National ID and family book Xerox copies
Technical evaluation report
Trade name certificate, as a proof of trade name reservation
How to Get a Business License in Sharjah?
To get a business license in Sharjah you need to approach the Department of Economic Development (DED) which is a prime business setup authority issuing license. You have to present the following documents with an application form to obtain a business license.
Licensing form signed by all the shareholders and owners
Trade name certificate
Approvals of the official authorities for the activities requiring special approval
Photocopy of passports and naturalization certificate
No-objection letter from the applicants' current sponsor together with a photocopy of a residence permit/visa details
Copy of Memorandum of Association and Bank Letter confirming the depositing amount of the company’s capital or balance sheet
Approval from the Ministry of Economy and Planning
Technical Evaluation Report (Inspection)
Photocopy of lease contract certified duly
Photocopy of plot blueprint in addition to property document
Bulletin board form
Once you submit all the above mentioned documents, you will be provided with a license from the authority.
Sharjah is a home to numerous companies who have set up their businesses from scratch. The government provides various incentives to start ups to expand their businesses. There are a lot of opportunities in Sharjah only if one decides to explore and research about new ventures that can be started.
Business Setup Worldwide provides a platform to start a business in Sharjah. Our advisors in Sharjah have years of experience in this field with local expertise. They can make the process smooth and hassle free. Wide domain experience and familiarity with the laws of Emirate help us to take care of passport, visa and licensing requirements of our clients, and ensure that their task is completed smoothly without unnecessary bureaucratic hassle. To know more, contact us today.
What are the communication and conveyance services available in SAIF zone?
SAIF zone has international and local telephone lines services, fax, email, and internet services available at competitive charges. Also, it has a shuttle bus service provided at nominal charges from the zone to the city centre 5 times a day.
What is the taxation applicable in SAIF zone?
SAIF exempts the companies established in the free zone from all commercial taxes. However, as certain activities are allowed only in the free zone, customs duty applies when a free zone entity wishes to sell their product onshore UAE.
What type of industrial activities are allowed in SAIF zone?
All types of industrial activities are allowed with the exception of leather and tanning industries, manufacturing & packing of all types of pesticides and battery factories, and all types of materials that lead to ozone layer depletion.
What is the minimum capital required to establish a company in SAIF zone?
If you are establishing a FZE or an FZC, the minimum capital requirement is AED 150,000 or US $41,000, but there is no minimum capital required if you are setting up a branch of a foreign/local company.
Can I utilize my SAIF Zone License to operate from Sharjah or any other emirate?
The License issued from SAIF Zone is valid for operating your business only inside the free zone territory. You cannot use this license to set up a business in any of the other emirates. Goods however may be sold to the other emirates.
What special benefits are offered to companies wanting to set up their business in SAIF zone?
The benefits of operating from SAIF Zone are tremendous. It allows 100% foreign ownership, exemption for personal and corporate income tax, with 25 year contract remedies for final rent.