Sharjah Free Zone Company Set up
Sharjah is clearly the toast of businesses, with FDI inflows rising by as much as 8% while elsewhere in the region, nations experienced a downturn. Many factors contribute to the ‘much sought after’ tag for Sharjah as a destination for business setups. The high purchasing power, the ease of access to energy resources, and a business friendly atmosphere all combine to make Sharjah a top business destination. Additionally, the absence of direct business taxes in most sectors, and the freedom for repatriation of capital makes the place investor friendly. Thus, Sharjah free zone company formation is getting highly popular option among international business tycoons and entrepreneurs alike.
Sharjah Free Zone Company Setup Explained in Simple Steps
Here is a look at the simple steps involved in Sharjah free zone company setup.
Decide on the business ownership/operation pattern
The first step for Sharjah free zone company formation would involve the need for determining the ownership pattern of your business. The differences are primarily all about the shareholding pattern.
The two business entity types that you can choose include a Free Zone Company or a Free Zone Establishment. For instance, the entity could have a single shareholder, multiple shareholders, or it could also be a fully owned subsidiary of a company that is either based abroad, or one that is based locally.
Therefore, the company setup in Sharjah free zone would depend on the type of business entity.
Meet the requirements of capital
Capital requirements for company formation in free zones differ in various aspects. Depending on the zone where you intend to setup your business, the capital requirement will differ. It could be as much as AED 150,000.
Hence check out the exact zone that you intend to establish your business in, and meet the capital requirements. The different capital requirements are primarily on the basis of the sectors and the zones where the entity wishes to establish its presence.
In addition to the capital requirement for Sharjah free zone company setup, there are other annual costs involved, such as costs towards liability insurance, land services, signs, one time registration fees, lease deposit, etc.
Types of licenses offered in RAK FTZ
Sharjah free zone company setup involves a simple three step process-
- The first is the submission of documents for the purpose of verification.
- The second stage of Sharjah free zone company formation involves making payments, on approval of the request.
- The third stage of Sharjah free zone company setup involves receipt of the business license and taking over possession of the office space.
As can be seen, the process of registration and beginning operations for business setup can be simply carried out once the requirements are fulfilled. Businesses and organizations interested in establishing a presence in Sharjah will find it prudent to use the services of a reputed and reliable service provider for Sharjah free zone company setup.
The advantages of using a professional consultant for establishing a business is the screening of documentation prior to submission. Additionally, the guidance from a professional consultant will be of great assistance. It needs to be remembered that a large number of businesses attempt to establish presence in Sharjah.
With the fast turnover time for registration and the number of entities that submit documents, it is only natural that the process involves proper scrutiny. Improper documentation and poor presentation of required details may result in delay or rejection.
It is therefore prudent to use the services of an experienced and reliable consultant to smoothen out the process whenever you plan for Sharjah free zone company formation.