Sharjah Media City (SHAMS) Free Zone Company Formation
Sharjah Media City (SHAMS) Free Zone
Sharjah Media City Free Zone (Shams), opened in 2017, has swiftly become a hotspot for overseas media and creative industry investors. Sharjah’s business environment is favorable for creative sector investors, as the emirate is known around the world because of its cultural ties. Due to free zone features like 100% ownership and tax exemptions, and low cost business setup packages, Shams has gained unquestionable prominence amongst foreign investors over the years.
Shams offers a variety of options that allow entrepreneurs to start a business in Sharjah for as little as AED 5,750. This, along with several other reasons, has made SHAMS a blessing for start-ups and small businesses. Investors interested in establishing a company in SHAMS can speak with the top Sharjah business setup consultants to ensure the process is simple and quick.
LICENSES AVAILABLE IN SHAMS
A license is required for starting a business in Sharjah just like any other emirate in the United Arab Emirates. For business setup services in Dubai, the Shams Free Zone offers the following licenses:
1. Service License
Obtaining a service license in Shams entitles investors to perform the services specified in the license. The Shams Authority describes a service license as one whose primary goal is to provide services & the use of goods to offer those services. When investors engage with the top business setup consultants in Sharjah, acquiring a service license in SHAMS becomes a straightforward process.
2. Trading License
Entrepreneurs can perform business operations like selling items or importing and exporting items by getting a trade licence in Shams. The activities include product transport as well as wholesale and retail sales. The traders' licence also allows them to offer services related to the wholesale or retail selling of goods.
3. Industrial License
A business that engages in operations such as manufacturing, re-production, or packing of goods requires an industrial licence. To commence their operations, manufacturing enterprises must first obtain an industrial licence in Shams. It is advised to meet with the top company setup consultants in Shams.
STRUCTURE OF Sharjah Media City Free Zone
Investors must select a legal structure for the firm when establishing a business in the UAE. Shams mostly offers two types of business structures. They are as follows:
1. Shams LLC
In Shams, foreign investors can form a Limited Liability Company (LLC) known as Shams LLC. Shams LLC is a stand-alone corporation with a framework that isolates the owners from the shareholders. The obligations of a Shams LLC are the company's liabilities, not just the shareholders' personal obligations. Furthermore, the possessions are the company's assets, not the stockholders' personal assets. The investors can acquire a licence, register a business bank account, and even sponsor staff by forming a Shams LLC. With the help of professional business setup experts in Shams, the establishment process becomes much easier.
2. Shams Branch
Existing businesses can apply for a licence to open a branch in the Shams free zone. By establishing a branch in Shams, the parent firm can reap all the branch's revenues, benefits, gains, and returns. Similarly, the branch's costs, expenditure, debts, and other obligations would be the same as the parent company. Employees can be sponsored by the branch, and a corporate bank account can be opened. A local UAE company or a foreign corporation can open a branch.
FACILITIES OFFERED BY SETTING UP A BUSINESS IN SHARJAH MEDIA CITY
Today's entrepreneurs are seeking for workplace spaces that allow them more flexibility and mobility. Flexi desks and other flexible office options are available in UAE free zones to meet this requirement. Shams primarily offers four office space options for organisations, all of which are equipped with world-class amenities such as Wi-Fi, a printer, and a conference room. In Shams, investors can choose from four types of office spaces.
a. Dedicated workstation
Shams provides a one-of-a-kind office alternative known as dedicated desk, wherein the space is set aside for people. They can do business near other like-minded businesspeople thanks to the specialised space. More information on the dedicated desk option may be obtained from the best business setup experts in Sharjah.
b. Shared desk
The Utilized Desk alternative at Shams free zone is defined as a common place that may be shared by creative businesses. The shared desk is ideal for modern businesses looking for a flexible workspace with the added benefit of networking opportunities. Connect with reputable company setup specialists in Sharjah to learn more about the cost and benefits of the shared desk option.
c. A Separate Office
In Shams, a separate office is a locked, designated office space that is intended to be used on a personal basis. A dedicated office might be as simple as a single desk or as complex as a group of desks. Obtaining the keys to a separate office in Shams allows entrepreneurs to run their businesses in a quiet working environment while also allowing for collaboration.
BENEFITS OF STARTING BUSINESS IN SHAMS
There is no straight-forward reason as to why foreign investors travel to form a company in Sharjah. The advantages are numerous yet expressing them succinctly is difficult. However, a few of them can be summarised as follows:
1. A Perfect Hub for Media Companies
When it comes to offering a supportive ecosystem for media investment, UAE has been at the forefront. Ajman, Dubai, and Abu Dhabi are among the Emirates that have designated a free zone for the media business. Shams proved to be the ideal alternative for media firms because of the low cost and other benefits that come with company formation in Sharjah. The investors have a perfect platform to expand their media business by starting the business formation procedure in Shams.
2. One hundred percent ownership
One of the main reasons why investors choose to establish businesses in UAE free zones is for 100% ownership of their company. Foreign investors can also start companies in Sharjah with 100% ownership in the Shams free zone. They may benefit from the entire return of their capital by starting the business setup procedure in Shams.
3. Simple and Cost-Effective Business Setup
In comparison to many other emirates in the UAE, the economic environment in Sharjah is competitive. Shams offers low-cost business establishment choices for businesses along with low-cost company setup packages. In comparison to other free zones, the package for freelancing and e-commerce entrepreneurs is reasonable. In addition, forming a corporation in Shams takes only a few days. The time can be reduced even further if the funders apply through the top business setup experts in Shams.
3. Submit your application
It is time to submit your application after you have settled on a company name, calculated your corporate practices, and explained exactly what you need from your license kit.
If you have chosen to Mainland Company Formation, you can apply to either the Department of Economic Development or the Municipality of the emirate in which you wish to do business.
4. Incorporate without having to be physically present
Foreign investors can start a business in the Shams free zone from the convenience of their own homes. This is a significant advantage for entrepreneurs, as actual involvement of investors is necessary in several other emirates as well as on the UAE mainland. Businesses can start the company registration procedure by sending their paperwork and applications from their home country to the recommended business establishment advisors in Sharjah.
5. Extensive Business Activities
Due to the creative business activities offered, investors looking to create a company in Sharjah choose Shams as their preferable free zone. Shams provides a wide range of services, including e-commerce, manufacturing, advertising, arts & entertainment, general trading, financial services, real estate operations, education, telecommunications, accounting & bookkeeping, and more. Business setup experts in Shams can assist investors in selecting the appropriate activities.
6. Convenient Location
Shams is based in Sharjah, a developing emirate noted for its affordable living conditions and access to a skilled labour at competitive rates. Additionally, establishing a business in one of Sharjah's free zones provides investors with a strategic location between the E88 and E611 roads, as well as accessibility to two major international airports. Entrepreneurs who are already hesitant about the free zone should speak with one of Sharjah's top business experts, for important insights on the benefits offered by Shams.
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