SHAMS (Sharjah Media City) Free Zone
Sharjah is the 3rd major emirate out of the seven 7 emirates in the UAE. The UAE is recognized worldwide as a trading hub, with the non-oil sector accounting for 70% of GDP - 45% of which is due to Sharjah's trading activity. Starting a business in Sharjah is an easy process due to the emirate's favourable business laws and modern infrastructure. Sharjah Media City, or Shams, was founded in January 2017 with the vision of becoming the premier centre for media and creativity in the region. Like other free zones, Sharjah Free Zone also issues licenses for companies, freelancers and entrepreneurs who want to start a business.
Benefits of Starting Business in SHAMS
Below are some of the benefits which entrepreneurs and foreign investors can avail themselves by starting a business in Sharjah:
- Physical presence in the UAE is not required to incorporate your new company
- No NOC required
- No Paid-Up Share Capital or Annual Audit
- 100% repatriation of Capital and Profits
- All Company Documentation issued within days
- Investor & Partner Visas
- Flexible visa allocation to better suit your company’s requirements
- 100% foreign ownership
- 100% free transfer of funds
- 0% import and export duties
- 0% corporate tax for 50 years
- Company setup option starts from AED 11,500
- One is not required to be present physically in the UAE to start a business
- Inexpensive workforce and easy recruitment procedure
- All documentation will get issued in 2 days
- Cost-effective licensing
- Companies will be limited in liability
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Business Activities in SHAMS
The most common businesses in Shams for entrepreneurs and foreign investors are:
- Event management
- Trading (garment and automobile trading)
- e-commerce
- Film production/post-production
- Graphic design
- Investment consultancy
- Business/project management consultancy
- Media
- Marketing
As this list shows, your company doesn't have to have direct connections to the classic media sector to be allowed to settle in the free zone.
Types of Licenses Available in SHAMS
Below are the types of business licenses available for entrepreneurs in Sharjah Media City Free Zone:
Service License
The service license is intended for the business of providing services as the main purpose and the use of goods for its provision.
Trading License
Trading licenses are required to move goods, sell wholesale and retail goods, and provide services related to the sale of such goods.
Industrial License
The business license is valid for the manufacture, reproduction, processing and manufacture of goods.
Holding License
A holding license gives the holder the right to own assets and/or shares in a company.
Company Formation Types in Sharjah Media City Free Zone
There are two types of company formations which you can go for in SHAMS Free Zone:
Shams Limited Liability Company (LLC)
Shams Limited Liability Company (LLC) is an independent entity in which the company structure separates the owners and shareholders of the company.
Shams Branch of a Company
Shams branch is a legal entity owned by the existing parent company. All branch profits and losses are the parent company's profits and losses.
Facilities Provided by Sharjah Media City Free Zone
The facilities you can avail at SHAMS Free Zone include:
Dedicated Desk
These are essentially fixed rooms, meaning that companies only need to work on the rooms available to them. It is ideal for today's entrepreneurs looking for flexible space and networking opportunities.
Shared Desk
This is a common room that is shared by like-minded people, i.e. People who have started a business and can't afford a separate office. Its modern aesthetic and practical atmosphere make for a pleasant environment.
Dedicated Office
Individually usable and lockable office space is allocated to specialist offices. Starting from an office or perhaps a group of offices, it provides a personal work environment while promoting collaboration between individuals.
Shared Office
Shared offices offer more personal space and networking opportunities.
Creative Units
These units have facilities such as private offices, office studios, showrooms and public areas. But this space is under construction.
Steps to Start a Business in Sharjah Media City Free Zone
The steps of setting up a business in SHAMS Free Zone are as follows:
- Decide on the legal structure of the business
- Choose the business activity
- Registration of a trading name
- Apply for a license
- Open a business bank account
- Arrange lease for office premises
What We Offer
After familiarizing yourself with the various business environments, benefits and conveniences of the Sharjah Media City Free Zone, the next ideal opportunity is to start a business in the Sharjah Free Zone. There are several steps you need to take, some more complicated, some less, to register your business in the free zone. First, you need to select the type of business and then decide on the company name, register it with the Shams authorities, complete your registration, open a bank account and apply for any required visas.
However, for an immigrant, these simple steps can be time consuming and confusing. Therefore, the first contact is always a consultant who reviews the entire process of starting a business. If you want to start a business in Sharjah Free Zone, want to start a business, we at MAD Middle East have our team of experts to help you with company formation, registration and advice. If you have any questions or business inquiries, please contact us, even if it is just a friendly consultation.
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