Emirate’s Free Zones are world famous for offering incredible benefits to entrepreneurs. Most of them offer you 100% business ownership, 100% tax exemption, no currency restrictions and the freedom to repatriate your capital and profits. Many of them also offer quick start-ups, with no equity and a range of local and co-working opportunities.
But they are not quite the same. Each has its own set of benefits that you won’t find anywhere else. In this article we take a look at the Shams Free Zone in the Emirate of Sharjah.
Introduction to SHAMS Free Zone
Sharjah Media City, also known as Shams Free Zone, was launched in 2017 as a thriving hub for media and other creative businesses in the UAE and beyond. Since then, it has expanded to accommodate a wide range of business activities in media, services, consulting, wholesale and retail.
Shams is located in the emirate of Sharjah, just 30 minutes east of Dubai. Sharjah shares borders with six of the seven emirates that make up the United Arab Emirates and has three ports across the Persian Gulf and Indian Ocean. It is also home to Sharjah International Airport, which has direct connections to the Middle East, Asia, Africa and Europe.It has several profiatable sectors if you want to start business in Shams free zone.
Top businesses to carry out in SHAMS Free Zone
- Support Consultancy
Support consultants provide businesses and organizations with specialized support services to assist them with a variety of critical operational functions. These consultants usually have expertise in specific areas of the business, such as accounting, marketing or cyber security. They assess the organization’s primary or immediate needs, develop a strategic business plan, and implement systems and solutions to meet those needs and help achieve business goals. They may also act as in-house subject matter experts to provide advice and guidance in their area of expertise and may create training manuals or other materials.
- Holding companies
A holding company is a business entity, usually a corporation or limited liability company (LLC). A holding company typically does not manufacture anything, sell products or services, or engage in other business activities. Rather, a holding company owns a majority stake in another company.
A holding company owns the assets of other companies, but in many cases only maintains a supervisory capacity. Therefore, although they may oversee the company’s management decisions, they do not actively participate in the day-to-day operations of these subsidiaries.
- Transportation support
Means the service of transporting Consumers from one place to another using the Provider’s vehicles and drivers. Examples of places where the service may take consumers include clinics, nutrition programs, grocery stores, senior centers, or government agencies.
- Insurance and Reinsurance
Reinsurance is also known as insurance for underwriters or stop loss insurance. Reinsurance is the practice of transferring a portion of a portfolio of risks to another party through some arrangement in order to reduce the likelihood of an insurance company paying out large amounts from claims.
- Legal and Accounting
This division shall include, whether before a court or other judicial authority, by or under the supervision of a member of legal professions, the interests of one party against the other. including legally represented by B. Advice and representation in civil matters, advice and representation in criminal proceedings, and advice and representation in labor disputes.
It also includes the drafting of legal documents such as articles of association, articles of association or similar documents related to the incorporation of companies, patents, copyrights, drafting of deeds, wills, trusts, etc. As well as other activities of notaries, civil notaries. Bailiffs, referees, investigators and judges. It also includes accounting and bookkeeping services such as auditing, account preparation and bookkeeping.
- Real Estate
Real Estate is defined as the land and all permanent structures, such as houses, or improvements, whether natural or artificial, attached to the land.
Real estate is a form of real property. They differ from personal property that is not permanently attached to the land, such as vehicles, boats, jewelry, furniture, and farm equipment.
- Media businesses
It includes the business of printing and reproduction of the media that has already been recorded.
- Wholesale and retail business
The business district facilitates the operation of wholesale and retail trade, from household goods to automobile sales.
Steps For Setting up your business in SHAMS Free Zone
- Step # 1
Visit Shams (Sharjah Media City) online portal and select the type of business you want to start. The site contains a list of commercial license options, including industrial and commercial licenses, possession licenses, and service licenses.
- Step # 2
Then select the type of desktop you need. Is it a shared office or a dedicated office?
- Step # 3
Submit all documents to the zoning authority. You can do this process yourself or through consulting services.
- Step # 4
Once your application is approved, you will need to pay. With it, you get payment confirmations and authorization processing times.
- Step # 5
Once your license is verified, you can restore it and start your operations.
Why Choose SHAMS Free Zone?
The UAE free zones are considered a haven for businessmen. Building on the already strong foundations of the UAE, it is attracting huge investments, companies and enterprises from all over the world.
- 5 minutes drive from Sharjah Airport and 15 minutes drive from Dubai International Airport.
- You have completely foreign ownership of your company
- All companies have very limited liability status
- There’s no requirement of up-front deposits
- You get allowance for upto six visas
- You have option of creating a corporate hierarchy
- There’s no requirement for you to fly to Emirates for setting up your company
Licencing options at SHAMS Free Zone
The types of licenses issued during the business formation process in Sharjah Media City are as follows:
Service License
Allows you to provide services and use different goods to provide various services.
Commercial license
Allows the import and export of goods in the region. Including wholesale and retail trade licenses related to the aforementioned business activities.
industrial license
allows the establishment of production units in the region.
