Launched in 2017, Sharjah Media City Free Zone (Shams) has quickly become a hot favourite among the foreign investors from the media and creative industries. Business setup in Sharjah is considered as favourable for the creative industry investors as the emirate is known across the world for its cultural affiliations. Over the years, Shams has achieved an undeniable degree of popularity among the foreign investors due to the free zone benefits like 100% ownership and tax exemptions along with low-cost business set up packages.
Shams offers many packages that enable the entrepreneurs to commence business setup in Sharjah for as low as AED 5,750. This and many other factors have made the company formation in SHAMS a blessing for startups and SMEs. Investors who wish to set up in SHAMS can consult with the best business setup consultants in Sharjah to make the procedure easy and quick.
Licenses Available in Shams
A license is a mandatory requirement for business setup in Sharjah or any other emirate in the UAE. The Shams Free Zone offers the following licenses for company incorporation:
1. Service License
Getting a service license in Shams allows the investors to provide the specific services mentioned in the license. The Shams Authority defines the service license as a license that carries the rendering of services as its chief objective and the usage of goods to provide such services. Obtaining a service license in SHAMS is an easy process once the investors consult with the best business setup consultants in Sharjah.
2. Trading License
By obtaining a trading license in Shams , the entrepreneurs can perform business activities such as selling goods or import and export of goods. The activities cover the movement of goods and wholesale and retail selling of goods. The trading license also allows the businessmen to provide services connected to the wholesale or retail sale of the goods.
3. Industrial License
An industrial license is needed for a business engaged in activities such as production, re-production, and packaging of goods. Manufacturing companies should first obtain an industrial license in Shams to begin their activities. Consulting with the best business setup consultants in Shams is a recommended method to obtain the license without any delay.
Structure of Company Formation in Shams
To set up a business in the UAE, the investors have to choose a legal structure for their company. Shams provides mainly two business types to choose from. They are:
1. Shams LLC
Foreign investors can set up a Limited Liability Company in Shams which is called Shams LLC. Shams LLC is an independent entity with a company structure that separates the owners and shareholders. In a Shams LLC, the liabilities are the company’s liability and not the personal liabilities of the shareholders. Also, the assets are the company’s assets and not the personal assets of the shareholders. By opening a Shams LLC, the investors can obtain a license, open a business bank account, and also sponsor employees. The incorporation process becomes easier with the assistance of experienced business setup consultants in Shams.
2. Shams Branch
The existing companies can obtain a license to open its branch in Shams free zone. By opening a branch in Shams , the parent company can enjoy all the profits, benefits, gains, and returns of the branch. In the same vein, the costs, expenses, debts, and other liabilities of the branch will be that of the parent company. The branch is entitled to sponsor employees as well as open a corporate bank account. The branch can be either of a local UAE company or a foreign company.
Facilities Offered for Setting up a Business in Sharjah Media City
Entrepreneurs nowadays are looking for office spaces that offer more flexibility and freedom of movement. In line with this requirement, free zones in the UAE are providing Flexi desks and other flexible workspace options. Shams provides mainly four office space options for the businesses and all of them are equipped with world-class facilities apart from providing access to Wi-Fi, a printer, and a meeting room. The investors can avail the following four types of office spaces in Shams
a. Dedicated Desk
Shams offers a unique workspace option called dedicated desk in which space is allocated for individuals. The dedicated space allows them to conduct business close to other like-minded entrepreneurs. The best business setup consultants in Sharjah can provide more details about the dedicated desk option.
b. Shared Desk
Shams free zone defines the Shared Desk option as a common space that can be shared by creative entrepreneurs. The shared desk is best suited for the modern entrepreneurs who seek a flexible workspace that provides the added advantage of networking opportunities. To know further about the cost and facilities of the shared desk option, consult with the reputed business setup consultants in Sharjah.
c. Dedicated Office
A dedicated office in Shams is an assigned office space that is lockable and meant to be used on an individual basis. The options for a dedicated office range from a single desk to a group of desks. Getting the key to a dedicated office in Shams enables the entrepreneurs to run their business in a private working space with the added benefit of collaboration.
d. Shared Office
A shared office is one of the most popular options of office space in Shams due to the different benefits it provides for the companies. By opting for the shared office option, the companies registered in Shams get more avenues for network and business. The entrepreneurs who are confused about choosing the right office space option can consult with business setup consultants in Sharjah.
Benefits of Starting a Business in Shams Free Zone
There is no single answer to the question of why the foreign investor flock to Sharjah to form a company in Shams. The benefits are plenty and describing it on a terse note is tough. Yet, the benefits of business setup in Shams can be described in the best possible way in the following list:
1. An Ideal Hub for Media Businesses
The UAE has been at the forefront when it comes to providing a supporting ecosystem for investors in the media industry. Emirates such as Ajman, Dubai, and Abu Dhabi have dedicated free zone for the media industry. Considering the low-cost and other benefits the investors get from company formation in Sharjah, Shams proves to be the ideal option for media businesses. By initiating the process of business setup in Shams, the investors get an ideal platform to grow their media business.
2. 100% Ownership
The opportunity for total ownership in the company is a major reason why investors often go for business setup in UAE free zones. Shams free zone also provides foreign investors with the opportunity for company formation in Sharjah with 100% ownership. By initiating the process of business setup in Shams, the foreign investors also get the advantage of total repatriation of capital.
3. Easy & Affordable Business Setup
The environment of business setup in Sharjah is competitive compared to many other emirates in the UAE and Shams provides low-cost business setup options for entrepreneurs. There are many low-cost business setup packages in Shams free zone. The special package for freelancers and e-commerce entrepreneurs are highly affordable compared to other free zones. Also, company formation in Shams only takes a few days to complete. If the investors apply through the best business setup consultants in Shams, then the time will reduce further.
4. Incorporate without Physical Presence
Foreign investors can initiate business setup in Shams free zone from the comfort of their homes. This is a huge benefit for the entrepreneurs as the physical presence of the investors is required in certain other emirates and also in the UAE mainland. The entrepreneurs can send their documents and applications from their homeland to the preferred business setup consultants in Sharjah to start the company registration process.
5. Wide Range of Business Activities
Investors opting for company formation in Sharjah consider Shams as their preferred free zone due to the innovative business activities available. Shams offers a wide variety of business activities including e-commerce, manufacturing, advertising, arts & entertainment, general trading, Financial services, Real estate activities, education, telecommunication, accounting & bookkeeping, etc. Business setup consultants in Shams can provide the investors with the right guidance in choosing the activities.
6. Strategic Location
Shams is located in Sharjah, which is a progressive emirate known for its affordable living conditions and the availability of a talented workforce at reasonable costs. Also, business setup in Sharjah free zones let the investors enjoy the benefits of a strategic location close to the E88 and E611 highways and proximity to two major international airports. Investors who are still undecided about the free zone need to have a chat with the best business consultants in Sharjah who will share their valuable insights about the advantages provided by Shams.
Business Setup Consultants in Sharjah
Shams is one of the latest additions to the more than forty free zones in the UAE but the free zone has recorded rapid progress within a few years. Shams was launched to make Sharjah an ideal hub for the creative and media industry by providing world-class facilities and affordable licensing options. However, the free zone is also home to companies from a variety of other industries as well, especially e-commerce, and the service industry. Investors can initiate the process of business setup in Shams at affordable rates and even without their physical presence.
The quick and easy business setup procedure is a major advantage but the investors may face a stumbling block if they are unaware of the laws and regulations. The assistance of experienced business setup consultants in Sharjah such as Jitendra Business Consultants (JBC) becomes invaluable in such situations. JBC has a team of business setup consultants in Sharjah who are well-versed in labour laws and immigration laws and with their assistance the incorporation process becomes hassle-free.