How to Set Up a Business in Sharjah?
You need to understand the business set up formalities and procedure before commencing the process. It will be helpful to avoid delays and confusion. This will aid you in completing the set up in a time-bound manner. You may also assign us the task of business setup in Sharjah. With professionals having extensive experience in setting up businesses in Mainland, and Free Zone regions, we will accomplish the setting up in quick succession.
The trade license you require to commence business operations in Sharjah will depend on the type of entity you are planning. You can choose from the three types of licenses, viz. Commercial License, Professional License, and Industrial License according to the firm you are establishing. Further, the procedure will differ with the type of legal entity you choose. The entity could be a Limited Liability Company, Branch Office, Foreign Company Branch, Partnership Company, and so on.
The types of license in Sharjah are:
Commercial License – You must obtain a commercial license if you are planning commercial business activities. Sharjah Economic Development Department (SEDD) is the authorized agency and regulatory body for issuing Commercial License. However, additional approvals may be required from ministries and departments based on the type of business you start.
Professional License – Those individuals thinking of setting up a professional business firm providing skilled services and support must have a professional license. The professions including architecture, artistic creations, and professional tutoring fall in this category. The person(s) applying for the subject license must have requisite qualifications substantiating the claim.
Industrial License – Industrial license is a mandatory requirement for companies opting for industrial activities, including, manufacturing. Necessary approvals from the Ministry of Labour, Ministry of Economy and Commerce, and other relevant departments will be required. The approvals have to be attached with the application submitted.
Steps for Company Formation in Sharjah
The steps for company formation in Sharjah include both personal and official decisions and approvals. It begins with your decision about the type of business, location, and jurisdiction. And ends with the incorporation of your entity in the documents of the Sharjah Chamber of Commerce and Industry.
The steps for company formation in Sharjah are:
- Identifying the business field
- Finalizing the location
- Fixing the trade name
- Obtaining initial approval from SEDD
- Application for an establishment card
- Approval from the Ministry of Labour for recruiting employees
- Preparing the legal structure
- Preparation of Memorandum of Association and notarization of the same
- Application for final approval and issuance of trade license
- Obtaining a trade license and incorporation of your company
Benefits of Company formation in Sharjah
A business entity in Sharjah offers optimum probability for growth. The fast-developing economy and ample infrastructure have been productive towards business firms. Identifying the right business that could be useful for the large populous in the area can bring a fortune in no time.
The advantages of Company setup in Sharjah are:
- Supporting authority that will aid you in setting up a business without any complications
- Exemption from income tax and corporate tax.
- Tax exemption on import, export, and similar trading activities
- Multiple-entry visa for entrepreneurs
- The firms may have to submit an annual auditing report. However, the same is not compulsory
- Warehousing facilities for firms to store goods
- Additional incentives for corporates
- Freedom to choose a variety of business activities
- Elaborate infrastructure facilities
- 100% repatriation of profits and capital gains
Legal Entities in Sharjah
The legal entities in Sharjah include the following:
Limited Liability Company (LLC) – An LLC can be formed in the Mainland with a 100% ownership.
Foreign Firm Branch Office – You can start a branch of your entity, located anywhere else in the world, in Sharjah. However, the trading activities will be limited, wherein, the branch office will be allowed to act as the window of the parent organization.
Partnership Firm – The firm established by UAE nationals, with a partnership of two or more individuals.
Public or Private Shareholding Entities – The firms established with public or private shares.
Documents Required for Business SetUp in Sharjah
The authorities have stipulated the submission of certain documents for business setup in Sharjah. The documents you have to submit along with the application are appended below.
- Tenancy contract
- Approvals from the ministries and departments according to the type of business
- Copies of passport, and visa of the shareholders
- Notarized MOA
- Copy of passport, national ID, and family book of the local sponsor
- National ID if the business owner is a UAE resident
Set Up Your Business in Sharjah with Kiltons
Coincidently, Kiltons began its entrepreneurial journey in Sharjah in 1948. Expanding to other regions in the United Arab Emirates, and diversifying the business fields, we are one of the leading business organizations in the country. Kiltons Business Setup Services was established in 1999, under the leadership of visionary and exemplary businessperson Mr. Riyaz Kilton.
Kiltons has been focusing on recruiting exceptionally talented professionals to support our esteemed clients. We have been renowned as the most reliable business setup service in the UAE. You can discuss your business objectives, aims, and dreams with us. Our proficient professionals will provide you the best advice and extend your unparalleled support throughout the process. We aim to conclude the process in a time-bound manner. Thus helping you commence business operations at the earliest.
To set up a business in Sharjah, contact us now.