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Business set up in Sharjah

UAE is known for being bright in different aspects which is why it has high levels of tourism. It is not only the fact that it has a higher level of resources but, the economy of UAE and all of the different laws together create a good level of social solidarity as well. Hence, this makes every part of the county a good place to set up your own business, especially in Sharjah. It is one of the advanced areas and it also contributes a ton in terms of safety. Therefore, there are tons of different people who are looking to place their investment ideas in Sharjah instead and there are tons of different reasons for this. This also makes business setup in Sharjah easier and more confident.

 

It is the only city that has grand access to the ports in the whole of the Arabian Gulf. This includes the western and eastern coasts as well as the Indian Ocean. These ports also have a connection to North Africa which provide a good collection of foreign investors. Not just that but, almost 45% of the business activities and GDP are produced here. Therefore, it is seen as one of the best areas to work with. There are tons of different opportunities for investors to work with and open their business whether they want to do it as a joint stock company, subsidiary, or branch office.

The high global economy in Sharjah 

There are tons of different cities that are trying to reach a global scale market. Therefore, Sharjah is also one of those cities that is catching up on the economic activities compared to Dubai. This is mainly in terms of setting up businesses. However, because of the differences in location and other infrastructure, Dubai still takes on the lead. Hence, Sharjah has been getting on the lead because of its International airport as well as the ports that it holds and act like gateways to different areas.

There is no lie that the geographical location of the city or country acts as a major part of its development as well as its economical reach. Hence, the geographical location is a prime settlement because it gives numerous investors the best opportunities. It has almost 5.2 consumers and millions of investors plus travelers every year. Therefore, it has been seen as a great spot for tons of people to come around and have their company set up in Sharjah. 

Moreover, everyone looks for an area that is safe and sound. Hence, Sharjah is known to be one of the safest global cities which has the lowest crime rate as well. It also has an excess of economic energy supply which makes it rich in resources and maintenance too. No one wants to deploy in an area where the laws and unjust and do not give authentic rights to the citizens. Therefore, if you are planning for business setup in Sharjah, then you will not have to worry about anything. That is because the judicial system here is fair and it gives the best property lease rates as well as a competitive fee structure.

The reasons for a company set up in Sharjah 

It is always mandatory to look at different objects and the city’s circumstances to see if your business or company can match up to the hype. Therefore, Sharjah being a growing economic expansion, gives an ideal location for industrial delegations. Hence, it encourages everyone especially foreign companies to conquer a chance to invest. There is also a crucial need for the government to understand the requirements of foreign investment. Hence, the Government of Sharjah understands all of the needs including things like manufacturing services, trade, and service sectors within the country. All of this is done by looking at the different policies of the country and ensuring that the legal policies for foreign investment are accessible.

There are several things to look at when it comes to forming policies as well as the Government overall. Hence, the flexible government schemes of Sharjah make it further an ideal place to start your business. It has also separately played an important role in improving the faith of all the global investors that settle in. Hence, it has given all of those investors a great union to stay in contact and to ensure their safety here. This is also another reason why there is a rise in economic activities and leadership. All of the global investors have devoted their time, efforts as well as recovery speed here to make it a better place. Hence, another pleasant surprise about Sharjah is that it’s status accurate with all of the different economic ties in the world. It supports all different and friendly trading connections around the entire world.

If you are looking and thinking about setting up your business in Sharjah then it will surely be a long-term business because of the stableness of the city and country as well. Hence, considering all of the different relations it has with the trading involved, you will not have to face any sort of struggle here. Moreover, there are other reasons as well why you should consider Sharjah to be your main commercial spot such as:

Why you should invest in Sharjah?

Everyone is going to be interested when it comes to investing in a stable and growing city. Therefore, Sharjah has shown great improvement in various sectors such as art, technology, and culture. They keep developing the future while holding the past intact. Hence, it is a great and beautiful city to consider when it comes to investment. It not only offers some amazing investment laws and opportunities but, also keeps a happy environment through various entertainment sites. Hence, the business sector within this city always keeps blooming. There are different business opportunities you can create in Sharjah and some of them are:

The business jurisdictions held in Sharjah 

The Sharjah Invest and Development Authority or Shurooq was introduced in 2009. The main purpose of this setup was to focus on Asset and Property Management, Investment as well as Development in the UAE. Not only does it focus on elements as such but, also takes a good look at environmental, social, economic, and cultural development. All of this is done while looking at Islamic laws and values too. You can choose between two different locations for business jurisdictions in Sharjah. The first is the Free Zone and the second option is Mainland.

Free Zone 

You can easily develop a company in Sharjah in the Free Zone area. The Free Zone is a great place to hold your business because these areas have a capital of a minimum of AED 150,000. Hence, those areas are:

  1. Sharjah international airport free zone- SAIF zone 

This area was established in 1995 in Sharjah and it is one of the industrial powerhouses as well as the premier destinations for businesses. Hence, the SAIF zone stores more than 4,500 companies. These companies are all of the different sorts such as commercial companies, industrial companies as well as professional firms. All of these companies come from different counters over 91 globally.

  1. Hamriyah free zone 

This area mainly enables foreign nationals to place their business in account and also have 100% whole ownership of them. This ownership comes tax-free with all the different sorts of repatriation of profits and capital as well as commercial tax exemptions. You can set up 2 different types of companies by looking at the shareholding.

  1. S.A. Regional Trade Center 

This is also known as the USARTC and it was introduced in the year of 2011. The main objective of this body was to become the central hub for foreign trade and also to turn them into an investment-driven objective. This body mainly offers small and middle-sized enterprises also known as S.M.E.s as an opportunity. This is done to develop the commercial areas and also to expand their trade in the Middle East and North Africa. Hence, this is done by assisting them and exploring the market and this further helps in presenting UAE as well as other areas.

  1. Sharjah Publishing City 

This zone is different from the rest because it mainly focuses on printing and publishing. The Sharjah Publishing City also known as S.P.C is a unique zone that is attractive to numerous different investors. Therefore, it is one of the best spots for people who love books. It covers an area of 400,000 square meters. Lastly, it provides all of the facilities that one needs and excellent warehousing offices as well.

  1. Sharjah Media City 

This area has a second name as well which is known as Shams Sharjah Media City. This area was introduced in 2017 and it has a particular objective. It is a world-class hub for different media and creativity investors in this part of the sector. Therefore, just like the rest, this area also issues licenses to companies, entrepreneurs as well as freelancers who want to set up their business here.

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  1. Sharjah Research Technology and Innovation Park- SRTI 

The STRIP is a free zone area that helps to encourage the different levels of association between private businesses, educational institutes, and the government. Therefore, it is seen as a bridge that links all of these to produce more ideals in the marketplace. Moreover, the SRTI also aims to create a favorable environment with different modernizations and high-tech services.

Mainland Company Sharjah 

There are different options where you can select to place your business. Hence, one of them is Mainland Company Sharjah. Businesses mainly set up here by looking at the geographical areas for commercial purposes. Hence, it is one of the most developed economic regions in Sharjah which is why tons of investors are interested. The policies over here are also regularized which makes it a prime location to set up your business. DDR Lawyers can easily help you set up your own business here by looking at all the laws and policies.

The capital required to set up a business here is AED 150,000 offering to open a limited liability company. Hence if you are looking for an easy way to get this amount and to fix your business here, DDR Lawyers are here to connect you with the best policies acting as knowledgeable agents.

The different business licenses in Sharjah 

There are numerous different business licenses that you will need. All of these are important to keep apart from the free zone areas.

Industrial license 
To get involved in any industrial or manufacturing activity you will need:
Commercial license 

If you want to involve in any trading activity, it will include:

Professional license 

If you are setting up a service providing business in fields such as law, teaching, medical, etc, it includes:

The different types of businesses that can settle in Sharjah 

There are different types of businesses that can settle in Sharjah and some of them are:

Limited liability company 

This type of business is mostly seen and this is where investors can have numerous partners but it should not be more than 50 and less than 2. The liability of the partner only limits the investment of the company.

Partnership Company 

This type of company must be having either 2 individuals or more than 2. They are liable to the extent of the shares they have of the liabilities within their company.

Local Service Agent 

These are mainly individual companies that are under one person. There must be a local service person who is a UAE national if the owner is not a national of the UAE.

Public or private shareholding company 

A public shareholding company will have to share the capital equally into tradable shares. On the other hand, a private shareholding company has rules which subject to joint-stock companies.

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A branch office is a company that is outside of UAE and connects different parties to apply for a license from a branch of a company from another emirate.

The different steps to form your company in Sharjah 

There are legal advice and laws which will help you set up a business in Sharjah. Hence, the process has different steps and you will have to consider all of them. Moreover, there are different judicial proceedings as well as documentation to go through. Therefore, the procedure to set up a business in Sharjah is:

  1. Figure out the type of economic activity your business would be holding
  2. Find a local sponsor
  3. Select a legal form for your business
  4. Submit a company registration application submission. This should have the name of the company name and you should send it to the Department of Economic Development- D.E.D.
  5. File the documents of the company including the D.E.D. so that you get a trade license from the Chamber of Commerce and Industry
  6. Register the trade name of your company
  7. Get the initial approval
  8. Get the location and inspection approval from the Municipality
  9. Gain the lease agreement of your company and memorandum of Association which you need to sign by a public notary
  10. Clear the documents that you need to get a payment voucher
  11. Fill in the licensing requirements and pay the license fee so that you get the trade license
  12. Gain approval from the Name Board
  13. Apply for Establishment Card
  14. Get the approval to hire employees from the Ministry of Labor
  15. Obtain a stamp on a visa from the Immigration Department
  16. Gain special approvals if necessary.
The documents you will need 
Why you should set up a business in Sharjah?

Sharjah is a safe city and the laws that implement here are one of the best. It offers numerous different sites for investors to build their businesses. There are also several advantages that come with it as well. You will be able to meet numerous different people who are skillful in what they do. Not just that but, the area grants you more access to your profitability. However, there are some other reasons as well you should know of:

How we can help you set up your business in Sharjah 

There are numerous different steps you have to go through which is why you are going to need help. Hence, one of the main things you should know is about the laws. Therefore, DDR Lawyers are here to help you out no matter what it is. Hence, our services are going to reach out the best to you and grant you your business the best we can. Moreover, some of the services that we provide are:

Therefore, we take care of all the activities that you need to look into when it comes to setting up your business in Sharjah. We have full control and knowledge about all of the different things and how you can do them accordingly. DDR  associates Lawyers have the best guidance as well as advice to ace your future business prospects. Moreover, we have experience of years. We apply them in the right way possible and ensure that you are getting everything perfect by taking the type of business you want. You can always contact us to get to know more about the services that we provide.