How To Setup Company in SHAMS Free Zone
Sharjah Media City free zone is a quickly developing, founded in 2017 it comprises a range of world-class retail stores, exclusive residential properties, and restaurants and hotels. If you are looking for a SHAMS company setup then you need to consult with the Start Any Business UAE who will help you throughout the procedure and make it reliable and smooth. Here we discussing more the process of the company set up in Shams and some important factors.
The SHAMS free zone provides many flexible solutions for offices comprising dedicated offices, Flexi desks, and creative spaces such as showrooms and studios. The workspaces are set in contemporary designed spaces, they combine practicality with innovation to make sure the work atmosphere is both productive and pleasant. The SHAMS free zone gives an affordable infrastructure for businesses of all phases from startups to big multinational companies.
With over 200 business fields represented in SHAMS, from accounting to wholesale, this provides an iconic possibility for companies looking to rapidly grow and set up an international and local reputation. There are four licenses available in the SHAMS, with the choice to invest in service, trading, having a license, based on the business requirements.
The SHAMS free zone permits the youngest of the company’s stakeholders, you can be a business owner from 19 years of age. It is a great advantage which is not available in any free zone. Company staff can be under the age of 18 years, which is quite unusual compared to other free zones. All the necessary company’s documents are electronic, you can print them and cannot worry about losing the originals.
Steps for SHAMS Company Setup
- The first phase is to visit SHAMS online portal and decide among the variety of trade licenses alternatives available to the company. The choices are industrial license, services license, holding license, trading license.
- Next, you require to select your need for the office you want. Would it be an office or a dedicated desk, or would be an office or shared desk.
- The third stage in the procedure is to present all the required forms and documents which can be complete by yourself or through a business consultant.
- The fourth phase is to make the payment of the invoice, which would be increased by the SHAMS free zone. You can also pay the advisor, and the business setup consultants in Dubai would pay on behalf of you.
- The last phase is to get the business license and begin business under your new company.
By following the phase as specified above, the business people can establish the company in SHAMS in an easy manner. The Media City would also give you possibilities wherein you would not need to block a huge amount of assets to receive a license.
Advantages of SHAMS Company Setup
The Advantages of SHAMS company setup includes –
- 100% exemption from duties and tax and overseas ownership, no limitations on repatriation of capital, free transfer of assets.
- The physical presence of the owners of a company is now needed for company registration in SHAMS free zone.
- The entire process is simple and quick thanks to the usance of modern technology.
- Exclusive benefits are available for media formation and related industries.
- SHAMS free zone is the most affordable free zone in the United Arab Emirates.
- The process of documentation can be accomplished in only two days.
- No require for the annual audit and paid share capital
- Appointing overseas employees is permitted.
- Permits opening a bank account for corporate use.
Document Needed for SHAMS Company Setup
The documents required for SHAMS company setup are –
- Certificate of incorporation
- Memorandum of Association and Article of Association
- Board resolution to set up a new company
- Board resolution to set up a new branch
- Certificate of good standing
- Trade license
- Board resolution providing signatory authorization
- Power of Attorney
Reasons to Choose SHAMS Free zone
There are many reasons because the number of companies in the free zone is increasing rapidly. The reasons for selecting SHAMS free zone over other free zones in the United Arab Emirates are –
Quick and Easy Registration Process
Here the businessman can register the company in a quick manner, this is because of the registration digitalization procedure. SHAMS has made it very comfortable and flexible to be licensed in a free zone. To obtain a license, the businessman is not required to present the NOC letter and can get a license in three days.
Range of Activities
There are different activities of the business available which can be select for registration in the SHAMS free zone. Having a comprehensive range of business possibilities in a single spot can prove supportive to both the free zones and companies because companies can seek assistance with the services among themselves and the free zone can perform to a wider customer base.
Easy Account Opening
Bank account opening is a tedious and time-consuming process, but in SHAMS free zone, opening a bank account is straightforward. The businessman would be given a list of banks that have tie-up with the SHAMS free zone and the businessman can select where to open a bank account.
In SHAMS free zone, the physical presence of the stakeholders is not needed for new company incorporation. The parties concerned may sign the essential documents and deliver them to the registered free zones. Then the free zone would establish companies and generate electronic copies of documents that could be utilized to opening a bank account. Certain advantages are not available in the UAE free zones, and this sets the SHAMS free zone apart from the remaining free zones.
If you are interested, then we at Start Any Business UAE will assist you to establish a company in SHAMS free zone and would take sound care of all your company incorporation queries hence you can concentrate more on your company operations. For more information, you can consult with us.