Sharjah is home to a large number of growing SME’s and corporation companies in the UAE and a number of businesses have set up here from scratch. Several businesses have expanded in the area in the form of regional centers. The Sharjah Government acknowledges the importance of trade, service, and manufacturing sectors in sustaining the nation’s economy, and has, thus charted policies that promote foreign investment. The government policies in Sharjah are favorable towards budding businesses, results in gaining the faith of global investors, and contributed to the rapid growth of the businesses in Sharjah.
Also Read: How to Start A Business in Sharjah?
Laws are in favor of foreign investors
The Sharjah government is looking to drive the economy through foreign direct investment. To help achieve that, they have revised their legal frame work for foreign investors who are willing to start a business. There are completely different set of rules and regulation for expats, and they are established in their favor.
Availability of word class facilities
Sharjah has left no stone unturned in ensuring foreign investors face absolutely no trouble in running their businesses. This has translated in world class infrastructure and amenities in terms of business parks, office spaces, warehousing, transportation, connectivity and utilities.
No shortage of skilled work force
There is no shortage of manpower in the UAE and especially so in Sharjah. Both skilled and unskilled labor flock to the UAE in search of opportunity as wages are high and income taxes are non-existent. It is therefore easy for a new company to find the requisite manpower for their operations. It is due to this fact that business owners need not have to worry about the manpower to run their businesses in UAE.
In addition to cheap availability of labor, there are no hidden charges levied upon the company when it is trying to establish itself in the emirate.
Various options for business ownership
Under foreign direct investment laws in Sharjah the foreign investors can retain to 49% of business shares while the local partner gets to have 51%. For a free zone company, the investors can enjoy 100% ownership.
No mandatory audit
An organization set up in Sharjah mainland is not required to have an audit. As there is no mandatory requirement of an audit the time and resources of a company can be put to good use.
However, a company can conduct an audit if the management thinks it will be beneficial for the company.
No limit on issuance of visas for labor force
As the company grows, its size and requirement increase at the same time. The benefit of having the ability to processes many as visas it allows a company to have unhindered access to human resources from all over the world.
Also Read: Benefits of setting up business in Sharjah free zone
Business set up in Sharjah
There are numerous opportunities in Sharjah for businesses and there is ample information shared by the local government to assist with business setup in Sharjah. However, understand that there are many procedures to be followed starting from licensing to company registration. FAR Consultancy Middle East has business consultants that are veterans in business set up in Sharjah and have helped many business owners’ setup successfully in this region. We cater to all local and international investors and business owners willing to expand or initiate their business in the Sharjah.
If you are interested, contact us today.
What are the types of licenses available in Sharjah?
The following licenses are available for starting a business in Sharjah
- Commercial License
- Professional License
- Industrial License
How to get a business license in Sharjah?
The Department of Economic Development requires the submission of several requirement for the issuance of a license in Sharjah. Seek the help of a business setup consultants to acquire license in Sharjah
How can foreigners set up a business in Sharjah?
To maintain 100% ownership of a company in Sharjah, foreign clients should incorporate in a free zone. Sharjah company setup procedures includes
- Applying for a free zone license
- Depositing share capital
- Preparation of documents
- Obtaining lease agreement