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How to Register a Company in Shams Free Zone
Sharjah Media City (SHAMS) is a free zone media hub launched in Sharjah (UAE) in 2017 and currently one of the fastest-growing free zones in the country. The Free Zone was designed to allow investors to grow their innovative business ideas and has proved to be very practical in boosting entrepreneurial projects based in Sharjah.
Setting up a company in SHAMS free zone needs obtaining a license from the Sharjah Media City Free Zone Authority. This license is for companies, freelancers, and entrepreneurs looking to start a business in the media, technology, and creative industries. Company registration under SHAMS can be performed 100% remotely. The whole registration process takes from three to seven days.
Why SHAMS free zone?
Here are some of the major benefits of registering a business under the SHAMS free zone in comparison with the mainland:
- Full business ownership: This is the main reason why entrepreneurs prefer free zones to mainland licenses. Free zones do not require foreign entrepreneurs to share their business with a local partner to obtain a business license.
- Full control over the business’s profits: Foreign investors can own all the profits made by their business within and outside the UAE. They can also repatriate all of their profit and capital.
- Corporate, import, and export tax exemption: Businesses registered within free zones are not subject to tax and benefit from import and export tax exemption.
Additional benefits of registering a business under SHAMS Free Zone are as follows:
- Affordable business licenses: You can get a SHAMS Free zone Trade License starting from AED 5,750. This is available mainly for Media-related business activities such as Advertising, Marketing, IT Services, Consultancy, and E-commerce. Talk to one of our Business Setup Advisors to find out more.
- Various types of licenses and fast registration process: As mentioned above, the whole registration process can be performed remotely and takes three to seven days. There are four types of business licenses issued by SHAMS that cover a wide range of activities. In case a business would need more than a license, by paying a small amount of charge annually for each extra business activity, the corporate’s specializations can be broadened.
Types of Visas
Obtaining a SHAMS Free Zone license would require entrepreneurs to apply for visas before or during the business setup. Every company is eligible to apply for up to six visas, and visas can be renewed every three years. There are two types of available visas:
- Investor or partner visa
- Employment visa
To apply for resident visas under SHAMS free zone, health insurance, or an assurance that you shall obtain the health insurance within ten months is compulsory.
Types of licenses issued by SHAMS Free Zone
SHAMS free zone licenses include over 120 types of business activities, and some can be carried out under the same license.
- Holding License: As the term suggests, this license is procured for establishing holdings in Sharjah emirate.
- Service License: This license provides the possibility of offering any services and using goods and facilities for this purpose.
- Trading License: A trading license is for selling, importing, and exporting goods either within or outside the Sharjah emirate. Services related to these businesses also fall under this license.
- Industrial License: This license allows the manufacturing, production, and reproduction of goods.
Documents Required for SHAMS Free Zone License Setup:
Entrepreneurs are required to submit one or more of the following documents:
- Certificate of Incorporation
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Board resolution to establish a new company
- Board resolution to establish a new branch
- Board resolution giving signatory authorization or Power of attorney for the third party
- Certificate of good standing
- Valid trade license
- Passport copy of the individual shareholder
- Passport copy of the Director and the Company Secretary
- Passport copy and UAE visa of General Manager
At Smart Zone, we help you set up a 100% foreign-owned free zone company under Shams Free Zone for AED 5,750 only if you set up before 30th November 2020. You can even get your license in a few days! Our dedicated Business Setup Advisors can assist you with the complete process hassle-free, remotely. Call +97155 233 0077 today.