Business Setup Cost in Sharjah

Business Setup Cost in Sharjah

All You Need to Know About Business Setup Cost in Sharjah

Sharjah is one of the seven emirates that make up the United Arab Emirates. It is one of the fastest growing emirates in the country today. Sharjah is attracting significant foreign investment as its economy booms even more. A lot of business owners and entrepreneurs want to start a business in Sharjah. If you are hoping for that as well, then you need to know about business setup cost in Sharjah. In this article, we are going to talk about some of the most important details that you need to know about the business setup cost in Sharjah.

 

Whether it’s big or small business setup in Sharjah, people are getting interested investing in forming a company in this Emirate. This is because of the range of advantages that they will get. Let us take a look at the advantages of business setup in Sharjah before we look at business setup cost in Sharjah.

 

Advantages of Business Setup Cost in Sharjah

 

Global investors see Sharjah as a good place to invest and grow their business. As said before, there are a number of advantages of setting up a company in Sharjah mainland. Here are some of the biggest advantages:

 

 

Tax-Free

 

Although value-added tax (VAT) has been implemented in Sharjah at the start of the year, you still do not need to pay corporate and income taxes. This also saves on the business setup cost in Sharjah

 

Zero capital Requirement

 

Business Setup Cost in Sharjah is quite cost-effective and hence a smart business decision. On top of that, there are some businesses that don’t require any capital investment making it even more cost-effective way to begin.

 

No Currency Restrictions

 

Sharjah Mainland has zero currency restrictions applied in its territories, just like other mainland company formation in other emirates in the UAE.

 

No Requirement for Yearly Auditing

 

If you are looking to open a company in the Sharjah Mainland, then you do not need to prepare for yearly audit as it is not required by the authorities. This lessens their stress and worries. This also saves on the business setup cost in Sharjah

 

You can Rent Office Anywhere

 

Businesses in Sharjah can select any location in the mainland for its office based on the business strategies of the company. The rents are quite affordable compared to Dubai and Abu Dhabi.

 

Conduct Business in the Domestic Market

 

If you start a company in Sharjah Mainland, then you can sell your products in the domestic market without any restrictions. Companies that are selling products that of high demand in the local markets can take advantage of this.

 

No Limit on Activities

 

Business owners in Sharjah Mainland have the freedom to conduct any type of business activity they want, unlike in some parts of the UAE where business activities are limited. In some areas in the UAE, they are even categorized.

 

No limit on visas

You can apply for any number of visas if you have a business in Sharjah Mainland. There are no restrictions on the number of visas you can apply.

Business Setup Cost in Sharjah – Types of Costs

When you look at the business set up cost in Sharjah, the costs can be divided into the following types

  • Fees Paid to the Government

They can be again sub-divided into the following categories

  • One-Time Fees
  • Regular Fees, paid at regular intervals
  • Fees Paid to Third Parties: Like Consultants, Local Sponsors etc.

Business Setup Cost in Sharjah – Details of the Cost

The following chart gives the details of the business setup cost in Sharjah

Fees/Cost/Receiver Paid To Frequency Cost (AED) Payment
Trade Name Reservation Govt. Agency One time 610 100% in Advance.
Initial Approval for Your Business Govt. Agency One time 110 100% Advance.
Local Citizen – Sponsorship Fee Your Business’ Local Sponsor Yearly 15,000  After getting the service
MOA – Legal Translation Services Translation Services One time 1,280 100% Advance.
Notarization of MOA Govt. Agency One time 960 100% Advance.
Licensing & Certificate of Incorporation Fees (for specific business activity) Govt. Agency Yearly 7,000 100% Advance.
File Opening – Immigration (Establishment Card) Govt. Agency One time 860 100% Advance.
File Opening – Ministry of Labour (Establishment Card) Govt. Agency One time 2,053 100% Advance.
E-Signature Card – Ministry of Labour Govt. Agency One time 1,000 100% Advance.

 

These were the details of the Business Setup Cost in Sharjah. For more information, you can always contact Arab Business Consultant as they are one of the most reliable business formation consultants when it comes to business formation in Sharjah. Get the help from the real experts and make your business a success.