Shams Free Zone
Sharjah Media City Free Zone, also known as Shams Free Zone, located in the vibrant emirate of Sharjah, stands as a pioneering initiative by the government to fuel innovation, entrepreneurship, and economic development. Offering a dynamic ecosystem where businesses thrive, ideas flourish, and aspirations take flight, Shams Free Zone has emerged as a key player in the UAE’s business landscape.
Shams Free Zone offers minimal initial and renewal expenses, making it an attractive option for businesses. It stands out as one of the few free zones in the UAE with straightforward registration procedures, ensuring a hassle-free experience. Moreover, regardless of your global location, you can complete the company registration process within just one week.
From its strategic location to its modern infrastructure and supportive regulations, Shams Free Zone serves as a beacon of opportunity for those seeking to establish and expand their ventures in Sharjah and beyond.
Benefits of Setting up Your Business in Shams
Minimal Costs
Shams Free Zone offers low initial setup costs and renewal fees, making it a cost-effective option for entrepreneurs and businesses.
Efficient Registration
Shams Free Zone provides an easy registration process, allowing you to establish your company quickly and efficiently.
Global Accessibility
Regardless of your location worldwide, you can register your company in Shams Free Zone within just one week, offering convenience and accessibility to entrepreneurs from around the globe.
Tax Incentives
As a free zone entity, businesses registered in Shams Free Zone benefit from tax incentives, including 100% foreign ownership, 100% repatriation of capital and profits, and exemption from corporate and personal income taxes for a specified period.
Business-Friendly Environment
Shams Free Zone fosters a business-friendly environment with flexible company structures, simplified procedures, and supportive services to facilitate growth and success.
Strategic Location
Situated in Sharjah, Shams Free Zone offers proximity to Dubai and other key business hubs in the UAE, providing easy access to regional and international markets.
Range of Business Activities
Shams Free Zone accommodates a diverse range of business activities across various sectors, allowing entrepreneurs to explore new opportunities and expand their operations according to their business goals.
Supportive Ecosystem
Shams Free Zone offers a supportive ecosystem for entrepreneurs and businesses, including access to networking events, mentorship programs, and business development initiatives to facilitate growth and success.
The Cost of Company Formation in Shams
The cost of company formation in Sharjah Media City Free Zone (Shams) can vary depending on various factors such as the type of license, business activities, office space requirements, and additional services opted for. However, here's a general overview of the typical costs involved:
The license fees vary based on the type of business activity and the chosen license category (e.g., commercial, service, e-commerce, freelance). These fees typically range from a few thousand to several thousand dirhams annually.
There are one-time registration fees payable to the free zone authority upon company formation. This fee covers the administrative costs associated with the setup process.
If your business requires physical office space within Shams Free Zone, you will need to factor in the cost of leasing office premises. Office rental prices can vary depending on factors such as location, size, and facilities.
If you plan to sponsor employees or yourself for residency visas, you'll need to consider the visa processing fees, medical examination costs, Emirates ID fees, and visa stamping fees. These costs can vary depending on the number of visas required and the nationality of the visa applicant.
Shams Free Zone offers various additional services such as visa processing assistance, legal services, document attestation, and company secretarial services. The costs for these services will depend on the specific requirements of your business.
Steps for Company Formation in Shams
To obtain a company setup license in Sharjah Media City Free Zone (Shams), you’ll need to fulfill certain requirements and follow specific procedures. Here are the general steps and requirements:
Choose Business Activity: Determine the type of business activity you intend to conduct within Shams Free Zone. Shams Free Zone accommodates various sectors, including media, technology, creative industries, consulting, trading, and more.
Select Company Type: Choose the appropriate company type based on your business needs and objectives. Options may include Free Zone Limited Liability Company (FZ-LLC), Branch Office, Freelancer Permit, or others.
Prepare Documentation: Gather the necessary documentation for the license application, which typically includes:
- Passport copies of shareholders, directors, and authorized signatories.
- Proof of address for shareholders, directors, and authorized signatories.
- Detailed business plan outlining activities, objectives, and financial projections.
- No Objection Certificate (NOC) from current sponsor (if applicable).
- Power of Attorney (POA) (if applicable).
- Other specific documents as required by Shams Free Zone authorities.
Submit Application: Complete the license application form and submit it along with the required documents to the Shams Free Zone authorities. Ensure that all information provided is accurate and up-to-date.
Payment of Fees: Pay the applicable license fees, registration fees, and any other charges associated with the company setup process. Fees may vary depending on the type of license and additional services required.
Review and Approval: The Shams Free Zone authorities will review your application and documents. Upon successful review and approval, you will be issued the company setup license.
Visa Processing: If you require residency visas for yourself or your employees, you can initiate the visa processing procedure after obtaining the company setup license. This process involves medical examinations, Emirates ID registration, visa stamping, and other formalities.
Office Space: If your business requires physical office space within Shams Free Zone, you’ll need to lease suitable premises. Ensure that the office space meets the requirements set by Shams Free Zone authorities.
Compliance and Renewal: Once your company is set up, ensure ongoing compliance with regulatory requirements and obligations specified by Shams Free Zone authorities. Monitor the validity of your license and renew it as per the prescribed renewal procedures to maintain legal operations within the free zone.
It’s advisable to consult with a reputable business setup consultant or legal advisor familiar with the requirements and processes of Shams Free Zone to ensure a smooth and efficient company setup process.
