Setting up a company in the UAE can be confusing, especially with so many options available. The Sharjah Media City Free Zone (SHAMS) makes it easier by offering cost-effective solutions. This guide will help you understand the steps for company formation in Sharjah Media City Free Zone.
Key Takeaways:
- Free Zone company setup in SHAMS offers various licenses like Trading, Service, and E-Commerce starting at AED 8,400* with setup times of around one week.
- Businesses enjoy no corporate taxes or personal income taxes in Sharjah Media City Free Zone also known as SHAMS Free Zone.
- The strategic location provides access to Sharjah International Airport, Dubai International Airport, and three seaports, helping businesses gain more exposure through easy importing and exporting.
- Comprehensive support services include bank account setup, visa assistance, tax planning, accounting needs, and media-related support, all aimed at facilitating smooth incorporation.
- Physical presence of foreign shareholders is not required during the company formation process in SHAMS.
Advantages of Business Setup in Sharjah Media City Free Zone UAE
Shams Free Zone is known as one of the newest but most popular Free Zone destination for company formation in SHAMS, UAE. Starting a company in SHAMS offers many benefits. Enjoy economic perks and varied business license options.
Economic Benefits of Company Formation in Sharjah Media City Free Zone
Sharjah Media City Free Zone company formation offers many economic benefits. Businesses here enjoy tax relief, as there are no corporate taxes or personal income taxes. Sharjah Media City company formation significantly reduces the cost of setting up your business while also boosting profits.
The strategic location is another advantage of company formation in Sharjah Media City. SHAMS is near Sharjah International Airport and Dubai International Airport. It also has access to three seaports on the Arabian Gulf and Indian Ocean. These make importing and exporting goods easy for businesses in SHAMS.
Diversity in Business Licensing Options
SHAMS Free Zone in the UAE offers diverse business licensing options. You can choose from Services, Trading, Industrial, and Holding licenses. Each type encompasses a wide range of business activities permitted under a single license. This flexibility helps meet different business needs easily.
For example, a Trading License allows you to trade goods inside the UAE and abroad. A Service License supports various activities including the media activities related to the media industry like consulting or production work. E-commerce businesses also find suitable licenses here for online sales operations. The prices start at AED 8,400* and setup time is roughly one week, easing the process for new startups and established companies alike.
Comprehensive Support Services
Sharjah Media City Free Zone (SHAMS) offers many support services to help new businesses. They provide concierge services such as bank account setup and visa assistance. These services make the process simpler for companies. SHAMS free zone’s financial services cover tax and accounting needs, ensuring compliance and effective bookkeeping.
AI generative services also play a role in helping companies with innovative solutions. SHAMS aids entrepreneurs with comprehensive media-related support like training, podcasting, gaming, and influencer marketing. Business owners can use these robust resources to grow their ventures efficiently in the United Arab Emirates.
Procedures for Company Registration in SHAMS Free Zone
To start your company formation in the UAE, first pick the right license type for your business needs. Next, choose a company name, suitable office space and submit your documents along with the fees.
Selection of License Type for Company in SHAMS
Choosing the right license type is key for your business setup process in Sharjah Media City Free Zone (SHAMS). SHAMS offers one of the most diverse selections of licenses: industrial, commercial trading, general trading, service, and holding licenses. Each license serves different types of business needs.
Opt for an industrial license if you plan to set up a factory or production unit. Choose a commercial trading license to trade goods within and outside the UAE. A general trading license allows you to trade multiple goods without limits.
Service licenses cater to businesses offering services like consulting or IT solutions. Holding licenses are ideal for companies managing assets owned by other firms. To obtain a trade license smoothly, ensure you have all necessary documents, such as your passport copy and articles of association, ready before selecting your license type.
Office Space Selection in SHAMS Freezone
To set up your company in the SHAMS Free Zone, selecting the right office space is an easy task. Shared desk facilities are available and cost-effective. These spaces can support up to 12 visas. Each company can allocate up to six visas under this shared facility.
Physical presence of foreign shareholders is not required for company setup. This makes it easier for international business setups. Companies also have various options, from small desks to larger offices, depending on their needs and share capital.
Documentation and Fee Submission for Business setup in SHAMS
Prepare the needed documents for your company setup in SHAMS Free Zone. You will need copies of passports, proof of address, and business plans. For LLC setups, include an AED 100,000* share capital letter from a bank.
Submit fees alongside the paperwork. Fees range between AED 5,750* and AED 12,000* for a single activity license. Total costs can reach up to AED 16,000* depending on additional services.
License renewal is required annually. Proper planning prevents poor performance. Make sure all papers are correctly filled out to avoid delays in company set up process. Consult a business setup consultant if necessary to guide you through this process smoothly.
Types of Licenses Available for Businesses in Sharjah Media City Freezone
SHAMS issues one of the cheapest free zone licenses in the UAE. Learn about the range of SHAMS Freezone license options to find what suits your business needs best. Read more!
Trading License Features
A trading license in the Sharjah Media City (SHAMS) Free Zone allows businesses to trade wholesale and retail goods. Companies enjoy 100% foreign ownership. You can set up a limited liability company with a number of shareholders, up to a maximum of 50. Directors must be individuals, not corporate directors.
You can register online quickly using a credit card for payment. There is no minimum share capital requirement to open a branch office. SHAMS trading licenses attract many businesses due to these streamlined and cost-effective features, making them ideal for the sales of goods.
Service License Features
A service license in Sharjah Media City Free Zone in UAE offers many options based on the business. A SHAMS service license is intended for the production, re-production, transformation, and distribution of services. These include media training, podcasting, gaming, and influencer marketing.
Companies can also provide financial services like tax planning and accounting.AI generative services are another option available under this license. Workshops and training sessions enhance the skills of entrepreneurs. This allows a corporate entity to grow efficiently in a competitive market.
E-Commerce License Features
An e-commerce license in SHAMS Free Zone offers many perks. You can register quickly online and start doing business fast. With this license, you get up to 12 visas for shared desk facilities. This allows your team to work together smoothly without any hassle.
The support services are top-notch. They help with setting up bank accounts and other requirements needed to run your business. Company documents can be ready within days, making the process stress-free for entrepreneurs. This makes SHAMS Free Zone in the UAE a great choice for starting an online business.
Conclusion
Company formation in Sharjah Media City Free Zone (SHAMS) is smart. You get cost savings, full foreign ownership, and strong support services. SHAMS Free Zone company setup offers many license types and office spaces to fit your needs. The location is great, near major airports and a booming economy. Begin your company journey with SHAMS today!
Why Choose Xpert Advisory?
Xpert Advisory specializes in tailored consultancy services for business setups, assisting freelancers, start-ups, and multinationals in UAE, GCC, and across the world. Our expert team provides end-to-end services in company formation, restructuring, and visa services with strategic cooperation with relevant authorities. With a focus on accuracy, efficiency, and transparency, we help clients to minimize threats, increase profit, and develop businesses. Contact us today for a seamless setup that will facilitate your business growth.
FAQs
1. What is Sharjah Media City Free Zone?
Sharjah Media City Free Zone is a hub for entrepreneurship, offering various benefits for Sharjah Free Zone company formation in media and creative industries.
2. How do I get a license for my company in this free zone?
To obtain a license for your company, you need to submit an application with the required documents and pay the necessary fees.
3. Do companies in Sharjah Media City Free Zone need financial audits?
Yes, companies often require financial audits to ensure compliance with regulations and maintain transparency.
4. Can I open bank accounts for my business in this SHAMS free zone?
Yes, businesses can open bank accounts once they have obtained their license from the SHAMS free zone authority.
