Sharjah, one of the seven emirates in the United Arab Emirates (UAE), has rapidly emerged as a hub for business and entrepreneurship. With its strategic location, supportive government policies, and growing economy, Sharjah offers excellent opportunities for individuals looking to establish their own companies. One of the key options for business setup in Sharjah is through the Sharjah Free Zones. This article will explore Sharjah free zone company formation and how it can unleash your entrepreneurial spirit.
What are Sharjah Free Zones?
Sharjah Free Zones are designated areas that provide a business-friendly environment for local and international companies. These free zones offer a range of benefits and incentives designed to attract investors and foster business growth. Sharjah currently has several free zones, including Sharjah Airport International Free Zone (SAIF Zone), Hamriyah Free Zone Authority (HFZA), and Sharjah Publishing City Free Zone (SPC), among others.
Full foreign ownership:
One of the significant advantages of setting up a company in a Sharjah Free Zone is the ability to have 100% foreign ownership. Unlike in mainland UAE, where local sponsorship is required, free zones allow entrepreneurs to own and operate their businesses fully. This level of ownership gives you complete control over your company’s operations and enables you to make independent decisions.
Tax benefits and incentives:
Companies operating in Sharjah Free Zones enjoy attractive tax benefits and incentives. These include exemptions from corporate and personal income taxes, import and export duties, and customs duties. These tax incentives provide a competitive advantage by reducing operational costs and increasing profitability. Also, free zones often offer streamlined licensing, registration, and visa processing procedures, further facilitating the ease of doing business.
Business support services:
Setting up a company in a Sharjah Free Zone grants you access to various business support services. Free zones have dedicated teams that provide assistance and guidance throughout the company formation process, including legal support, administrative services, and access to banking facilities. These support services help streamline operations, saving time and effort and allowing you to focus on growing your business.
Sharjah Free Zone company formation provides entrepreneurs a platform to unleash their entrepreneurial spirit and establish successful businesses. With advantages such as 100% foreign ownership, tax benefits, world-class infrastructure, and business support services, Sharjah Free Zones offer an ideal environment for growth and innovation.