Business setup in SHAMS- Sharjah media city free zone

Why Should Businesses Utilize SHAMS- Sharjah Media City Free Zone?

The United Arab Emirates (UAE) has separated its geographical territory based on business licences into Mainland, Free Zone, and Offshore. Company formation in Sharjah is one of the UAE’S seven Emirates and is positioned third after Abu Dhabi and Dubai for company setup.

Business setup in (SHAMS) Sharjah media city free zone, Sharjah, launched in 2017. The city is dynamic and has many cultures. The UAE trade-free zone attracts many foreign investors each year. It offers benefits, facilities for media activities, and high-quality services.

Despite being a media-free zone, SHAMS is home to various businesses engaged in service distribution, transformation, and reproduction. SHAMS is located a distance from Dubai International Airport, 15 minutes away, and Sharjah International Airport, 5 minutes away.

Its goal is to boost commercial activity in the United Arab Emirates. The SHAMS community provides a special setting where people may flourish, develop their abilities, and build relationships with others.

SHAMS Free Zone Business Activity

SHAMS free zone offers various business activities to investors and entrepreneurs as follows:

Travel agency
Wholesale
Trading
Auditing and Bookkeeping
Information services
E-commerce, advertising, and publishing services.
Insurance and education services.
Science development and research.

Different Types Of Licences In Sharjah Media City Free Zone

Choose any business licence according to your business activity.

Trading License

This licence is valid for selling certain services and trading goods within SHAMS. It includes all the activities of importing and exporting goods, rendering services, and wholesale.

Industrial License

Within SHAMS, this license is valid and permits you to reproduce, produce semi-finished or fully finished goods, and transform and manufacture goods and products.

Service License

Under SHAMS, you can officially run these services- Distribution, reproduction, production, and transformation of services with the service license.

Holding License

For holding a license, trademarks, assets and stocks, and patents are mandatory within SHAMS.

Benefits Of Business Setup In Sharjah Media City Free Zone

With minimum or maximum investment, you can start a business in SHAMS according to your budget.
There is no personal income or company tax.
It offers 100% business ownership.
SHAMS offers no down payment facility.
It offers no restriction of up to 6 visa permits based on your business need.
It is located in a profitable location, where two major international airports are nearby.
Physical attendance of the owner is optional for a company setup.
It provides a limited liability position for all companies.

Office Facility In SHAMS

The SHAMS company development must find a location within this free zone. A Flexi-desk is not, by default, part of the setup package. To guarantee easy compliance with banking rules, it is advised to have one.

The following are the office facilities:

Two Types Of Companies In The Sharjah Free Zone

Under the Sharjah free zone, two categories of companies formed as follows:

Steps For Company Formation In SHAMS Free Zone

Choose Your Business Name

Be careful when choosing your business name; first, it should be unique without duplication. Second, it should match all rules in the application form without being offensive towards any caste or religion. It should be written in both English and Arabic.

Pick A Business Activity

Before choosing a business activity, please go through the SHAMS online site to decide which business activity you choose from the list it offers. Various business licence possibilities, including industrial, trade, holding, and service licences, are available on the website.

Choose A Office Location

There is no restriction in choosing a location in SHAMS free zone. But it is better to consider a few factors, such as budget, number of employees, etc. while choosing a location. Select whether you go with shared office space, dedicated office, flexi desk, or dedicated desk according to your business requirement.

Register For A Business License

After considering the above criteria apply for a business license for smooth and officially running business operations. Submit all the required documents as follows:

Your recent passport-sized images.
At least three name suggestions for the business.
The copy of the passport.
Copy of visa and entry stamp.

Submit the required documents for the branch

Certification of incorporation.
Memorandum and article of association
Certificate of valid trade license.
Power of attorney for the third party and board resolution giving signed authorisation.

Open A Bank Account

For smooth business transactions in the future, consider opening a bank account. This helps owners or entrepreneurs run businesses smoothly by making domestic and international transactions through banks without any hustles.

Documents Mandatory For Business Setup In Sharjah Free Zone

Submit the required documents for corporate shareholders.

Power of attorney for the third party and board resolution giving signed authorisation.
Certificate of valid trade license.
Board resolution for new branch setup.
Board resolution for the new company setup.
Memorandum and article of association
Certification of incorporation.

In the case of an individual shareholder, only power of attorney for the third party and board resolution giving signed authorisation is required.

Characteristics SHAMS Offers For Business Setup

Characteristics Of The SHAMS Company Setup

The free zone authorities’ policies and guidelines govern the businesses in SHAMS LLC.
The free zone authority is optional to receive the audited yearly accounts from Sharjah Media City LLC.
Sharjah Media City can be formed with as few as one shareholder or as many as 50.
The money raised by SHAMS LLC may be utilised to fund its operations. The capital amount’s initial investment is optional.
The shareholder may be a person or a corporation.

Characteristics Of The SHAMS Branch Office.

Only one manager is needed for the branch.
Typically, a branch is a division of the main firm.
It is optional to submit the audited financials to the FZ authorities.
They don’t have a minimum capital requirement.
There aren’t any unique implementation guidelines specific to the branch office in the free zone.