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Sharjah Mainland Company Formation
12+ Years Experience
Business setup in Sharjah mainland
Sharjah is the third largest Emirate in the United Arab Emirates. Characterised by its Islamic culture, calm demeaner and strategic location, Sharjah is considered to be an important place to set up any type of business. The presence of its own airport and sea port, along with proximity to the surrounding transportation links makes the emirate a strategic location point for business setup.
The advantages of setting up business in Sharjah are as follows:
No income tax
Corporate tax capped at an affordable level.
Cost benefits in form of affordable rents and bigger spaces.
Security of investment
Ample warehousing facilities
Government backed investor schemes
Strong banking and financial sector
three types of companies that can be set up in Sharjah
This license is issued for any type of commercial business to be opened in any part of Sharjah, like restaurants, import export, trading, etc. This license can be used to trade anywhere in the UAE. However, it has to be noted that only the specified products can be traded in as per the license.
This license is specifically for industrial companies who manufacture and assemble their products in Sharjah mainland. This license allows to procure raw materials from out of country or locally. There is also permission to export the finished products.
This license is provided to individuals for the service industry who have the required training and expertise. Some of the examples are event management, consultants, health services, etc.
process of setting up business in Sharjah mainland
Business Entity Approval
The very first step is to decide and finalize what is the type of business that is being started. Once this is decided, the type of license required will fall in place.
Obtain notarized company MOA and lease agreements
The first step is to prepare the MOA between the concerned parties in business as well as finalize the lease for an office space or warehouse. Both these documents are to be notarized before further steps.
Prepare necessary documents
These documents could depend on the type of the company and can range from passport copies, Emirates ID, and other documents for partner(s).
Pay the license fees
Depending upon the license that is being applied, the corresponding fees has to be paid.
Name board approvals
Any business needs a name. Three options are usually provided at the beginning in English or in Arabic, and has to be in conjunction with the regulations and sentiments of the emirates, like no obscene names, no God names, etc.
Apply for an establishment card
This application is done at the immigration for its related activities.
Finding a local sponsor
For mainland licenses, the presence of a UAE national sponsor with 51% share ownership is necessary. They are usually sleeping partners and for the purpose of processing the license.
Department of Economic Development approvals
The DED approvals include the notarized agreements and the business entity registrations. This process includes filing the trade license and getting the trade name registered.
Ministry of Labour approvals
Once your list of employees are finalized, then their details are to be furnished and the necessary steps need to be taken to legalize their employment with the entity through the Ministry of Labour.
Immigration and Emirates ID approvals
As soon as the approvals from the MOL is in hand, the next step is to start processing the visas and the Emirates ID for the employees. This starts with medical examinations, after the approval of which visa processing and the Emirates ID processing will happen.
When the licensing requirements are being handled, there are certain regulations that go with the municipality departments. All these activities will be looked into and necessary permissions will be taken.
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Working with experienced business consultants or legal advisors can help streamline the company formation process in Sharjah and ensure compliance with all necessary requirements. Keep in mind that Sharjah business environment is dynamic, and staying updated on changes in regulations and market trends is crucial for long-term success.