Introduction
Starting a business in the United Arab Emirates (UAE) offers a world of opportunities, and one of the most attractive options for entrepreneurs is setting up a freezone company. So, Sharjah Media City Free Zone, commonly known as SHAMS, is a popular choice due to its strategic location and investor-friendly policies. In this comprehensive guide, we will take you through the detailed steps to establish a freezone company in SHAMS, offering you a gateway to success in this vibrant business environment.
Understanding Sharjah Media City Free Zone
What is SHAMS?
Sharjah Media City Free Zone (SHAMS) is an economic freezone in the emirate of Sharjah, UAE, established to encourage and support media and creative businesses. SHAMS is committed to providing a dynamic and supportive environment for startups, entrepreneurs, and established companies to thrive.
Benefits of Setting Up a Freezone Company in SHAMS
100% Foreign Ownership:
One of the primary advantages of SHAMS is that it allows you to have full ownership of your company without the need for a local partner. This grants you complete control over your business.
Tax Incentives:
SHAMS offers a tax-free environment for businesses, including income tax and corporate tax exemptions. This means you can retain more of your profits to reinvest in your company.
Easy Setup Process:
The registration and licensing process in SHAMS is straightforward and streamlined, allowing you to start your business quickly. The freezone’s user-friendly approach minimizes bureaucratic hurdles.
Range of Business Activities:
SHAMS permits a wide range of business activities, making it suitable for various industries, including media, technology, and e-commerce. So, Whether you’re a content creator, tech innovator, or e-commerce entrepreneur, SHAMS has you covered.
Access to a Global Network:
Being strategically located in the heart of the UAE, SHAMS provides easy access to international markets. The freezone’s proximity to major business hubs in the region offers exceptional networking opportunities.
Steps to Establish Your Freezone Company in SHAMS
- Decide on Your Business Activity
Firstly, Before anything else, determine the type of business activity you want to pursue in SHAMS. The freezone allows various activities, so choose the one that aligns with your expertise and goals. This crucial decision lays the foundation for your company. - Business Structure
Secondly, Decide on the structure of your company, whether it’s a sole proprietorship, partnership, or a corporate entity. Consult with legal experts if needed to ensure your chosen structure aligns with your long-term goals. - Legal Requirements
Prepare the necessary legal documents, including your passport, visa, and a No Objection Certificate (NOC) from your current sponsor if you are residing in the UAE. Non-residents can skip the NOC requirement, making the process smoother for international entrepreneurs. - Register Your Business
Submit your application to SHAMS and pay the required fees. You will receive a trade license upon approval, allowing you to operate legally in the freezone. SHAMS’ efficient registration process minimizes delays and allows you to start your business promptly. - Office Space
Select the appropriate office space within SHAMS. You can choose from flexi-desk options for startups or dedicated office spaces for larger companies. SHAMS offers flexible office solutions to accommodate your business’s specific needs. - Visa Process
Apply for employee or investor visas if necessary. SHAMS offers efficient visa processing services to facilitate your staffing needs. This ensures you can attract talent from across the globe to contribute to your business’s success. - Banking and Finance
Open a corporate bank account in the UAE to manage your finances effectively. Establishing a local bank account simplifies financial transactions, making it easier to conduct business operations in the UAE.
Conclusion
Establishing a freezone company in Sharjah Media City Free Zone (SHAMS) offers a wealth of opportunities for entrepreneurs and businesses looking to expand in the UAE. With its strategic location, business-friendly policies, and tax incentives, SHAMS is a prime destination for setting up your venture in a thriving and dynamic environment.
Next reading: FAQ’s for setting up a company in Sharjah Media City Freezone
Arnifi is digital first Corporate service provider helping companies enter the Middle East region, starting with UAE and Saudi Arabia markets. Founded and backed by professionals from Amazon, Souq and other large companies operating in KSA – the team understands what it takes to succeed as a startup in both UAE and Saudi Arabian markets, apart from going through the setup process multiple times.
Arnifi will provide a truly digital experience to entry and scale up of companies both UAE and Saudi Arabia. The Arnifi promise is simple, yet revolutionary, use technology and a great team to provide transparency, efficiency and great customer experience in the whole process.
Check out at – www.Arnifi.com for more details.
