Business Setup in Sharjah
How to Deal with Business Setup in Sharjah
The emirate of Sharjah is one of the seven constituting emirates of the United Arab Emirates or the UAE. It is one of the fastest growing emirates in the country today. Sharjah contributes to more than one-third of the total industrial activity of the UAE. If you are looking at forming a company in UAE, then you should definitely consider business setup in Sharjah. Here, we would look at some of the things that you should know when you are considering business setup in Sharjah.
Advantages of Business Setup in Sharjah
Let us first take a look at the various advantages of business setup in Sharjah. Setting up a business in Sharjah comes with a host of advantages. Let us take a look at a few of them
Lower Costs
The costs of setting up a business in Sharjah are much lower compared to Dubai or Abu Dhabi. The rentals are lower and so are the various fees associated with business setup in Sharjah.
Some of the free zones in Sharjah, like the Sharjah Airport International Freezone or SAIF, also give promotions that bring their costs even lower than it already is. All this makes it a financially viable decision to invest in business setup in Sharjah
Quick Business Setup
Business setup in Sharjah is one of the easiest and fastest in the UAE. The documents that are required to be submitted are not too complicated. In certain locations like the SAIF zone, it only takes 48 hours for them to process and approve the license.
Range of Business Types to Choose From
There are a lot of business activities that you can choose from. The allowed activities depend on the location you are starting a business in. For example, in SAIF, you can start general trading, commercial, service, industrial manufacturing businesses.
If you deal in import and export, freight, and cargo industries then you should consider setting up a company in the SAIF Zone as this place perfectly suits your requirements. It is located at Sharjah International Airport and also offers world-class facilities that include storage, warehousing, and container parking and more.
Business Setup in Sharjah – Starting a Limited Liability Company (LLC)
A Limited Liability Company is one of the most popular choices for Business setup in Sharjah. As you might know, a limited liability company is one with limited liability, where the liability is limited by shares. For LLC company in Sharjah, the number of partners may not exceed Fifty (50) members and should not be less than Two (2). To set up such a company, a U.A.E. national partner is required. He/she must hold shares of not less than 51% of the paid-up capital.
Steps to Follow for LLC company setup in Sharjah
- The investor (applicant) should contact the licenses section. This should be done after completing the procedures of trade names, legal affairs and inspection.
- The employee reviews the basic license data and endorses it. If they find it necessary, they might recommend necessary amendments to the existing data or even add any if required.
- You would be issued for payment permission and auditing
- After the payment is made successfully, the license and registration certificates would be issued
Required Documents
You would need the following documents for business setup in Sharjah for LLC company:
- License form
- Brand certificate
- Copy of the passport and National ID and identity of the UAE national.
- Certified no objection letter from the applicant, a copy of the passport and visa or residence and identity card of the expatriate.
- Technical assessment report
- Official approvals
- Partnership contract. The Memorandum of Association should be certified by a Notary Public
- Ministry of Economy approval.
- Legal affairs approval.
- Certified copy of the lease contract
- Map image or property certificate
Business Setup in Sharjah – Partnership Company
The other popular option for business setup in Sharjah is starting a partnership company. A partnership company in Sharjah is formed by two or more partners who are jointly liable to the extent of all their shares for the company’s liabilities. Both partners must be UAE Nationals.
Steps to Form a Partnership Company in Sharjah
- The investor (applicant) should contact the licenses section. This should be done after completing the procedures of trade names, legal affairs and inspection.
- The employee reviews the basic license data and endorses it. If they find it necessary, they might recommend necessary amendments to the existing data or even add any if required.
- You would be issued for payment permission and auditing
- After the payment is made successfully, the license and registration certificates would be issued.
Required Documents
You would need to submit the following documents for business setup in Sharjah for partnership company:
- License form
- Brand certificate
- Copy of the passport and, civil register applicant
- Copy of the passport and visa or residence and identity card of the expatriate.
- Technical assessment report.
- Official approvals
- Partnership contract (Memorandum certified by a Notary Public.)
- Ministry of Economy approval.
- Legal affairs approval.
- Certified copy of the lease contract of the company.
- Map image or property certificate.
These were some of the details of business setup in Sharjah. If you need more guidance and proper assistance, then you need to get the services of a professional business consultant like Arab Business Consultant. They have the expertise to help you get the most of the business. Get their help and scale the heights of the success.
