If you are looking to start a company In Sharjah, there are a few minimum requirements that you will need to meet. These include having a trade license, company name approval, and office space. In addition, you will need to have at least one partner who is a resident of Sharjah. That partner be able to provide a valid passport and visa for each employee. You will also need to have a bank account in Sharjah and be registered with the Department of Economic Development.
Types of businesses that can be registered in Sharjah
Sharjah offers a variety of business registration options for investors, including companies limited by shares, companies limited by guarantee, joint stock companies, branch offices of foreign companies, and professional firms.
The most common form of company in Sharjah is the company limited by shares. This type of company must have at least one shareholder and one director. The shareholders may be individuals or other companies. The directors may be listed as either an individual or corporate entity. The minimum share capital for this type of company is AED 50,000.
A company limited by guarantee is a type of company where the liability of the members is limited to the amount that they have agreed to contribute to the company’s assets. This type of company does not have to issue shares and does not have a minimum share capital requirement.
How to set up your company in Sharjah
Setting up a business in Sharjah is relatively easy, and there are a number of government organizations that can guide you through the process. The first step is to select the correct organizational structure for your business. There are three types of businesses in Sharjah – sole proprietorship, partnership or limited liability company (LLC).
If you are not interested in becoming a partner, you can choose to set up your business as a Sole Proprietorship. Most companies have the option of choosing either a Dubai or a Sharjah address and will be subject to the same tax laws. For those who want to start their business as a partnership, there are two types of businesses that can be set up for you – Partnership Agreement and General Partnership. Both types of businesses will also be subject to the same tax laws and regulations.
The benefit of opening a company in Sharjah
There are many benefits of opening a company in Sharjah. Firstly, Sharjah is a tax-free zone, which makes it an attractive destination for companies looking to set up or expand their operations. Secondly, there are excellent infrastructure and logistical facilities in Sharjah, which make doing business here easy and efficient. There are many E-Commerce Companies in UAE and growing with the expanding Market.
Additionally, the government of Sharjah is supportive of businesses and offers a number of incentives and concessions to help companies get started and grow. Finally, the cost of living and doing business in Sharjah is relatively low compared to other major cities around the world, making it an affordable option for companies looking to establish a presence in this region.
Free Trade Zones in Sharjah, UAE
United Arab Emirates (UAE) free trade zones are places with unique tax, customs, and importation policies. These zones operate in accordance with their own rules. Dubai, Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al Khaimah (RAK), and Umm Al Quwain are all home to various UAE free zones.
List of Free Zone in Sharjah
- Sharjah Airport International Free Zone (Sharjah Airport International Free Zone Authority)
- Hamriyah Free Zone (Hamriyah Free Zone Authority)
- Sharjah Media City – Shams (Free Zone)
- USA Regional trade Center (USARTC) Free Zone
In conclusion, opening a company in Sharjah is a relatively easy process. There are a few things to keep in mind when starting a business in the emirate. With a little planning and organization, it can be a smooth process. If you are looking to start a company in Sharjah, consult with an experienced attorney and financial planner to get started. Medialinks is one of those companies that can assist in your business setup process by handling over all the legalities and Procedures. At Medialinks we can also help for website development, app development, branding campaigns for UAE that will further strength your presence in Sharjah.