Starting a business requires struggle, but if you put your burden in responsible hands, things can surely come out to be way better than you think. By doing so, one can put all their effort and focus on business strategy rather than spending their time and effort into the registration and setup process.
Sharjah has a lot of opportunities for new businesses and businessmen. People are also getting attracted to business setups in Sharjah, UAE, and its states.
The history and culture present in Sharjah appeal to the people, which makes the entrepreneurs start their businesses here. This is not all that Sharjah offers. There is so much more you can get benefit from. Sharjah is cheaper, has an active seaport, and is full of cultural wealth and heritage.
Sharjah LLC company formation is popular in the UAE for expats because of the following extraordinary features:
No Capital Requirements
You do not have to follow a certain set of requirements for the LLC in Sharjah
Branches
If you want to form your company’s branch, you would be free to do so.
Products Delivery to Customers Directly
You would be allowed to deliver your products to the customers directly.
Legal Requirements
For company formation in the UAE, you would have to fulfill all the legal requirements before the application.
51% Ownership to The UAE Nationals
The majority of the shareholders would be UAE nationals, having ownership of 51 percent.
Age Requirements for The Business Set Up in Sharjah
According to the Sharjah Economic Development Department (SEDD), if a person is searching for how to start a business in Sharjah, he should be at least 21 years old. But if anyone who is under the age of 21 wants to invest in any business, he can easily do so with the help of a No Objection Certificate. A certain NOC should be certified by the Sharjah Sharia Court.
Here are some of the things you need to know before you apply for a setting a business in Sharjah:
Find a Partner
You need a partner to start your business in Sharjah. In an LLC, you can have more than 50 partners. If your business partners or you are expats, you should then have more shareholders who are UAE nationals. They should have 51% of the shares in the company.
Legal Representative
You must hire a legal business consultant in Sharjah to draw a Memorandum and Article of Association. The document must be submitted in both English and Arabic language. The primary copy will be in the Arabic language, whereas the other one will be in English.
Location
Having a business space for running your business is important. You can get one on the lease. If you do not have a registered place for company formation, you won’t be able to get your business license. Take approval for tenancy contract from The Commercial Protection Section at the SEDD
Process of Business Setup in Sharjah, UAE
Step1: Trade Name Registration
The estimated cost of trademark registration ranges from AED 250 to 2500. The practice will take 1 working day. Trade Name Section and the Sharjah Economic Development Department can help you with trademark registration. You will need AED 100 for trademark registration approval, AED 100 for the smart card, and AED 50 to 2250 reliant upon the trade name.
If you already have a registered trademark or trade name, you can skip this step. If you are a new investor, you would need to register it through the online portal of SEDD.
Step 2: Commercial Lease Approval
The estimated cost of license approval is AED 0 unless you have any previous fines from inspection, and it will take only a few hours by the section of Commercial Protection and the Sharjah Department of Economic Development.
Step 3: Special Permits
It will take only a day and the cost will depend upon the agency you take help from.
Step 4: License Application
It will cost 11% of the tenancy contract along with AED 850 for additional administrative services.
Step 5: Signboard Approval
It costs from AED 100 to 500 and may take 1 working day.
Step 6: Labour Card Application
You will need AED. 2000 for applying for the labor card, and it may take 2 working days for the Ministry of Labour.
Follow all the steps properly and hire the best legal agents who have a good idea of all the legalities. This would have a better impact on your business.
Having some difficulties in setting up your business in Sharjah? Well, hand over all your worries to FAR Consulting in the Middle East, because they know how to deal with the business formation processes effectively in Sharjah and across all states of UAE. All your tasks will get carried out as easily as possible while bothering you the least. This is as easy as I say it.
