What are the steps to establish a company in the Sharjah Free Zone? The Sharjah Free Zone is considered one of the most prominent economic destinations in the United Arab Emirates, as it provides an ideal environment for investors and businessmen to establish their companies. The free zone is distinguished by its strategic location, the diversity of economic activities it supports, as well as offering attractive incentives such as tax exemptions and full ownership of companies. Establishing a company in the Sharjah Free Zone requires following specific steps that ensure success and sustainability. In this article, we will review the steps to establish a company in the Sharjah Free Zone, starting from choosing the type of company and its commercial activity, all the way to completing the registration procedures and obtaining the necessary licenses.
Steps to establish a company in the Sharjah Free Zone
Establishing a company in the Sharjah Free Zone requires following a set of organized steps. Here are the basic steps:
Determine the type of company and its activity: You must determine the type of company (such as a limited liability company, or a branch of an existing company) and the commercial activity you wish to practice. Make sure that the activity is compatible with the activities permitted in the free zone.
Choose a trade name: Choose a distinctive trade name for your company that complies with local laws. The name must not be previously used, and you can check this through the Sharjah Free Zone website.
Submit an application for approvals: Submit an application for initial approvals to the free zone administration. You may need to submit documents such as identity, CV, and description of the activity.
Prepare legal documents: Prepare the required legal documents, such as the articles of association and the company’s bylaws. You can consult a legal advisor to ensure compliance with all laws.
Open a bank account: Open a bank account in the name of the company after obtaining approvals. You may need to deposit a certain amount as capital for the company.
Submit a registration application: Submit an official company registration application to the free zone administration with all the required documents. You will need to pay the prescribed fees.
Obtain a commercial license: After completing all the procedures and approvals, you will obtain the necessary commercial license to practice the activity.
Register employees: If you plan to hire employees, they must be registered and obtain work visas in accordance with local laws.
Securing offices and facilities: Make sure to obtain an office or workspace in the free zone, according to your business requirements.
Starting a Business: After completing all the steps, you can start your business in the Sharjah Free Zone. By following these steps, you can successfully establish your company in the Sharjah Free Zone and benefit from the available investment opportunities.
Documents required to establish a company in the Sharjah Free Zone
Establishing a company in the Sharjah Free Zone requires submitting a set of basic documents to ensure that the process runs smoothly. Here is a list of the required documents:
Application form: Fill out the establishment application form available at the Free Zone Administration.
A copy of the passport: A color copy of the passport of the company owner or partners must be submitted.
Personal photos: Submit a number of personal photos of the company owner or partners.
Business plan: Provide a brief description of the company’s activity and the services or products it will provide.
Incorporation contract: Prepare the incorporation contract and the company’s terms and conditions.
Proof of headquarters address: A document proving the address of the office or place where the company will conduct its activity.
Bank report: Some free zones may require a bank report showing the required capital deposit.
A copy of academic certificates: If the company’s activity requires certain qualifications, copies of the company owner or partners’ academic certificates may be requested.
Legal Power of Attorney: If an agent or consultant is acting on your behalf, a legal power of attorney must be provided. Special Approvals (if applicable): If your business requires special approvals (such as medical or educational activities), the necessary documents for these approvals must be provided. Be sure to check with the Sharjah Free Zone Authority or consult a legal advisor for an updated list of required documents, as requirements may vary depending on the type of company and its activity.
Conditions for establishing a company in the Sharjah Free Zone
Establishing a company in the Sharjah Free Zone requires meeting a set of conditions and standards. Here are the most important of these conditions:
Nationality: Foreigners are allowed to establish their companies in the Sharjah Free Zone, where they can obtain 100% ownership without the need for a local partner.
Choosing the type of company: You must determine the type of company you wish to establish, whether it is a limited liability company, a branch of an existing company, or a sole proprietorship.
Determining the business activity: The business activity you wish to practice must be compatible with the activities permitted in the free zone. Be sure to review the list of approved activities.
Minimum capital: You must adhere to the minimum capital requirements, which vary depending on the type of company and business activity. Be sure to know the required amount.
Submitting the necessary documents: All required documents must be submitted, such as a passport, personal photos, a business plan, and an articles of association, according to the applicable instructions.
Having a workplace: An official address for the company must be provided, whether it is an office or a workspace within the free zone. It is preferable for the headquarters to be in accordance with the requirements of the region.
Compliance with local laws: You must comply with all applicable laws and regulations in the UAE and Sharjah Free Zone.
Business reputation check: You may be asked to provide information about any previous work or your business reputation as part of the assessment process.
Employee registration (if applicable): If you plan to hire employees, they must have legal work visas and be registered according to local laws.
Legal advice: It is preferable to obtain legal advice or from a consultant specializing in establishing companies such as Itqan Company to avoid any legal issues during the establishment process.
Advantages of establishing a company in the Sharjah Free Zone
Establishing a company in the Sharjah Free Zone comes with many advantages that make it an attractive option for investors and businessmen. Here are the most prominent of these advantages:
Full ownership: Foreigners can establish their companies with 100% ownership without the need for a local partner, giving them complete control over their business.
Tax exemptions: Companies in the free zone enjoy tax exemptions that include no corporate tax for 50 renewable years, which reduces financial burdens.
Ease of Procedures: The free zone provides simplified and fast establishment procedures, which contributes to reducing the time and effort required to establish a company.
Diversity of Economic Activities: The free zone provides a diversity of economic activities, allowing investors to determine the type of activity that suits their needs.
Advanced Infrastructure: The Sharjah Free Zone has a modern infrastructure that includes service centers, logistics facilities, and equipped offices, which facilitates the conduct of business operations.
Strategic Location: Sharjah is located in a central location that facilitates access to local and international markets, which enhances opportunities for growth and expansion.
Ease of Obtaining Visas: The free zone facilitates the process of obtaining work and residence visas for company employees, which contributes to attracting talent.
Intellectual Property Protection: The free zone provides support for the protection of intellectual property rights, which enhances the value of innovations and new ideas.
Strategic Partnership Opportunities: The free zone provides opportunities for cooperation and partnership with local and international companies, which enhances the potential for growth and expansion.
Government Support: The local government provides support to investors by providing advice and assistance with administrative procedures. These features make establishing a company in the Sharjah Free Zone an ideal choice for investors seeking to grow their business in a flexible and encouraging business environment.
Sharjah Free Zone
Sharjah Free Zone is one of the most prominent investment destinations in the United Arab Emirates, combining the advantages of its strategic location, diverse economic activities, and advanced infrastructure. The free zone was established to attract investors and businessmen from all over the world, providing them with an ideal environment to establish and develop their companies. The free zone allows investors 100% ownership, which enhances their ability to control their businesses without the need for a local partner.
Other benefits include tax exemptions, as investors enjoy tax exemptions for 50 years, which can be renewed, which contributes to reducing financial burdens. The free zone also provides easy and quick incorporation procedures, making it an attractive option for those seeking to enter the market. In addition, the free zone offers advanced infrastructure that includes service centers, equipped offices, and logistics facilities, which contribute to facilitating business operations. The region is also distinguished by its ideal geographical location that provides easy access to local and international markets, which enhances opportunities for growth and expansion. With strong government support, Sharjah Free Zone is an ideal platform for investors looking for lucrative opportunities in a dynamic and flexible business environment.
Tasks of Itqan Company for establishing a company in Sharjah Free Zone
Itqan Company provides a comprehensive range of services to help investors and businessmen establish their companies in Sharjah Free Zone. Here are the most important tasks performed by Itqan Company:
Legal Consultations: Itqan provides specialized legal consultations on the laws and regulations related to establishing companies in the free zone, helping clients understand the necessary requirements.
Document Preparation: Itqan undertakes the preparation and preparation of all legal and administrative documents required to establish the company, such as the articles of association and internal regulations.
Company Registration: Itqan Company submits the necessary applications to register the company with the Free Zone Administration, and helps in obtaining the required approvals quickly.
Bank Account Opening: Itqan assists in the procedures for opening a bank account in the company’s name, and provides advice on appropriate banking options.
Obtaining Licenses: Itqan is responsible for obtaining the necessary commercial licenses to practice the business activity, ensuring compliance with all local laws.
Office Provision: Itqan provides office rental services and facilities needed to establish a company in the free zone, with options that suit clients’ needs.
Staff Recruitment: Itqan assists in the procedures for hiring and registering employees and obtaining the necessary work visas.
Ongoing Support: Itqan provides ongoing support to investors after the company is established, including administrative and financial consultations.
Marketing Services: Itqan helps in marketing the company’s services by providing effective marketing advice and strategies.
Guiding Investors: Itqan provides comprehensive guidance to investors about the investment opportunities available in the free zone, which contributes to achieving their business goals.
Thanks to these tasks, Itqan contributes to facilitating the process of establishing companies in the Sharjah Free Zone, making it a reliable partner for investors.
In conclusion, establishing a company in the Sharjah Free Zone is a strategic and beneficial step for investors and businessmen looking for a favorable business environment. The free zone offers a range of unique benefits, such as full ownership and tax exemptions, in addition to advanced infrastructure and various support services. These features facilitate the procedures required to establish companies, making Sharjah an ideal destination for investment. With the availability of government support and wide opportunities for expansion and growth, investors can exploit the potential of the local and international market. To ensure the success of the establishment process, it is preferable to seek the help of specialized consulting companies such as Itqan Company, which provides the necessary expertise and support to achieve business goals. Ultimately, the Sharjah Free Zone is an ideal choice for anyone seeking to start their entrepreneurial journey in a dynamic and encouraging environment.
Frequently asked questions about the steps to establish a company in the free zone
Do I need a local partner to establish my company in the free zone?
No, you can establish your company in the Sharjah Free Zone with 100% full ownership without the need for a local partner.
How long does it take to establish a company in the Sharjah Free Zone?
The incorporation process usually takes from a few days to two weeks, depending on the speed of submitting the documents and obtaining approvals.
Can I employ employees in my company?
Yes, you can employ employees and obtain work visas for them according to local laws.
