Sharjah Media City emerged in 2017 with an aim to uplift creative entrepreneurs and expand media industry for business growth.
Sharjah, one of the UAE's seven emirates, is ranked third in business setup, after Abu Dhabi and Dubai. It is a vibrant city with a diverse culture. Every year, global investors from all over the world flock to the UAE trade free zone.
Furthermore, read the blog to get an in-depth knowledge of this newly formed free zone in the UAE.
A Brief to SHAMS Media Free Zone
Sharjah, (Shams) The Emirate of Sharjah, the UAE's cultural centre, is home to Media City. Shams was established in January 2017 with the goal of being a world-class media and innovation powerhouse. Companies, freelancers, and entrepreneurs in the media, technology, and creative industries can get permits from the free zone.
Advantages of Doing Business in SHAMS Media City Free Zone
Sharjah Media City welcomes international investors worldwide. Let's look at a few of the benefits it gives:
- Setting up a Business on a Budget
You can start your business in SHAMS with a price of as low as AED 5000.
- No Existence of Tax
This is one of the factors that attract investors to the UAE's free trade zones. They are not subject to individual income tax or any other company tax. So if you want to incorporate a business, know more about free zones in UAE.
- 100% Business Ownership
You can own 100 per cent of a firm as an ex-pat and send all revenues to your home country.
- Various Visa Options
The restrictions on obtaining a business visa have been lifted at the Media City. It has presented a fantastic opportunity to take advantage of getting six permits.
- An Extensive Range of Activities
SHAMS accepts a wide range of business operations and enables several licenses for various activities.
- Lucrative Location
SHAMS is conveniently placed between the E88 and E611 roads and two major international airports.
- No Deposits Required
Entrepreneurs can start a business in Shams without putting down any paid-up cash. It encourages people to pursue their company ideas rather than putting them on hold due to a lack of funds. They can start their company concept at any time.
Available Licenses in Sharjah SHAMS Free Zone
Sharjah Media City provides a variety of permits for certain activities. It also enables one to take advantage of applying for a license online.
1. Service license: allows you to create, reproduce, change, and distribute services.
2. Trading License: Import and export, wholesale and retail sales of items are possible.
3. Industrial license: allows you to produce, re-produce, and manufacture things.
4. Holding License: Patents, Trademarks, assets, and stocks are necessary.
Business Activities in SHAMS Free Zone
SHAMS offer a wide range of business activities. Therefore, if you are an entrepreneur or invest in a business, you will benefit from this free zone's activities. Here is the list of a few:
- Information Services
- Insurance Services
- Scientific Research and Development
- Advertising and Publishing
- Bookkeeping and Auditing
- Travel Agency
if you want to open an e-commerce business in Dubai, for example then get e-commerce license. Learn more about e-commerce license in Dubai.
Legal Entities in SHAMS Free Zone
There are two types of structures that are approved by the SHAMS free zone, which are as follows:
- Limited Liability Company (LLC)
- Branch of a Foreign Company.
How to Setup a Company in SHAMS Free Zone?
Company incorporation takes a few steps, which are as follows:
1. Select a business activity
There are various business activities that SHAMS offers. You first choose your business activity and proceed to the other process.
In addition to that, if you want to know more about the business activities, you can visit the Department of Economic Development website.
2. Choose a name for your business
Select an appropriate name for your business by maintaining all the restrictions. UAE has several rules and regulations regarding finalizing the company name.
3. Fill up the Application
Fill out the application and submit your registration documentation to the relevant authorities for registration.
4. Make an Application for a Business License
Apply for a business license and submit the required documents to the respective authorities. The documents that need to be submitted are as follows:
- Passport copy
- Entry stamp or visa copy
- Three name suggestions for the company
- Passport-sized photograph
5. Set up a Bank Account
Open a bank account for any sort of transaction in the company for future reference.
Are you an entrepreneur or a business owner? Do you intend to carry out your company activities without any hustles? Sharjah offers fantastic chances to a wide range of investors, regardless of country. So you may expand your business.
Suppose you have a good network with a reputable expert who can guide you through the legal process. We at Business Setup Worldwide have business specialists in Sharjah that can assist you in establishing your global business foundations, clearing legal processes, and completing obligations.
Then, you will receive a green signal and be able to begin your business operations. Please contact us and get in touch with us if you require any other information.
What is the cost of setting up a company in the SHAMS Free zone?
Does one have to submit the annual audit report for license renewal in SHAMS free zone?
No, since it is a free zone.
Can I open a company in SHAMS without a visa?
Which is the maximum number of shareholders for business in SHAMS?
How long does it take to open a business in SHAMS?
Less than a week.