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.
Below are some of the benefits which entrepreneurs and foreign investors can avail themselves by starting a business in Sharjah:
The most common businesses in Shams for entrepreneurs and foreign investors are:
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.
Below are the types of business licenses available for entrepreneurs in Sharjah Media City Free Zone:
The service license is intended for the business of providing services as the main purpose and the use of goods for its provision.
Trading licenses are required to move goods, sell wholesale and retail goods, and provide services related to the sale of such goods.
The business license is valid for the manufacture, reproduction, processing and manufacture of goods.
A holding license gives the holder the right to own assets and/or shares in a company.
There are two types of company formations which you can go for in SHAMS Free Zone:
Shams Limited Liability Company (LLC) is an independent entity in which the company structure separates the owners and shareholders of the 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.
The facilities you can avail at SHAMS Free Zone include:
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.
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.
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 offices offer more personal space and networking opportunities.
These units have facilities such as private offices, office studios, showrooms and public areas. But this space is under construction.
The steps of setting up a business in SHAMS Free Zone are as follows:
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.