Sharjah is the third largest and populous Emirate in the United Arab Emirates (UAE). It is also considered to be one of the fastest growing Emirates in the UAE. Global links are established with an international airport and ports, making it a good decision choose Sharjah.
Sharjah has become a home for a lot of businesses from different industries. This is why this Emirate is known in the UAE. This part of the UAE is notable for culture and industry, and because of this, more and more company formation in Sharjah is carried out.
If you are looking to have a company, there are a couple of requirements that you should keep in mind for doing it in this Emirate. For you to start a Sharjah company registration, you need to have at least two people as partners and a maximum of 50 for one organization. However, it should be noted that business set up companies in Sharjah that are established by expatriates have a local partner with them. As per the law, a UAE national should be part of our business and that person will hold 51% of the shares.
There are various business opportunities in this Emirate, but the same requirements are required in a company formation in Sharjah.
There are procedures in going through Sharjah company registration. This is why it is advisable that you have Sharjah business setup consultants with you to provide you with the information you need in this venture. These people will answer your question of how to start a business in Sharjah and let you know the estimated business setup cost in Sharjah so you can prepare as soon as possible.
Besides that, consultants will be the people who will handle the processing. They will go to the concerned authorities like Sharjah DED (Department of Economic Development) or also known as Sharjah Economic Department. It is also a part of the consultants’ job to manage everything that includes going to Chamber of Commerce Sharjah to obtain or pass necessary documents.
They also act as an adviser who can aid you with regard to the laws of the land. All kinds of questions can be thrown at them, and they will have the answers that you need: from a pressing query of how to start a business in Sharjah and the question you are interested to ask like your Sharjah trade license inquiry. Because this is their job, the business setup services in Sharjah that they offer are essential to go further with your business plans.
Sharjah is notably attracting foreign investment as its economy blooms even more. It remains to be one of the first choices of business owners. Whether it’s big or small business setup in Sharjah LLC, people are continually investing in forming a company in this Emirate. This is because of the advantages that they will get.
Global investors see Sharjah as a good place to invest in. Global ties are maintained to have smooth trades everywhere. Just some of the advantages that business owners will have and already have in Sharjah mainland are listed below.
Currency restrictions do not exist
Sharjah Mainland does not have any currency restrictions applied in its territories, similar to other mainlands in the UAE.
No mandatory yearly auditing
Companies in Sharjah Mainland do not need to prepare for yearly audit as it is not required at all. Although audit is important, many organizations find this a positive thing as it lessens their stress and worries.
Rent office anywhere
New business setup in Sharjah can select anywhere in the mainland where its office should be located in accordance with business strategies of the company. In this case, this is where the path of your organization begins, by carving it out starting from the right place.
Conduct business with local market
The local market is located on the mainland. Companies that are catering to markets and have traded as their industry can take advantage of this.
No limit on activities
Business owners in Sharjah Mainland have the freedom to select whichever business activity they want, unlike in some parts of the UAE where business activities are limited and are even categorized.
Zero capital requirement
Sharjah LLC company formation cost is affordable. However, if you set up a business at a place that doesn’t require any capital, it is definitely a cost-effective way to begin.
Although value-added tax (VAT) has been implemented in the start of the year, it is still not obligatory for companies to pay corporate and income taxes. It is still a positive thing in the country.
No limit on visas
Since companies expand and grow, visas are not limited for companies in the Sharjah Mainland. They can all secure as many visas as they require for their organizations.
In Sharjah mainland an expat can carry on any type of business except; that is banking, an investment as well as insurance.
FAR Consulting Middle East is one of the leading Sharjah business setup consultants that offer quality business setup services in Sharjah. We will ensure that you have all your questions answered, such as business setup cost in Sharjah and any follow-up questions you have about your Sharjah trade license inquiry.
We can provide the following services when you let us handle your company formation affairs as your business consultants in Sharjah:
- Applying and following up on behalf of the client until the collection of the Certificate of Business Registration (Trade License)
- Representing the client in front of the authorities
- Assisting the client in bank account opening
- Assisting the client in account opening with the Ministry of Labour
- Assisting the client in account opening with the UAE immigration
- Assisting the client in leasing a premise as an address for the business
As your Sharjah business setup consultants, we will take care of everything. The processing would range from 2 to 4 weeks.
Requirements for Sharjah Company Registration
- Proof of tradename reservation (our firm’s task)
- Proof of initial approval for the activities (our firm’s task)
- Passport copies of the shareholders
- Passport copy and CV (resume) of the manager
- Personal information sheet of each shareholder and manager (template will be forwarded by our firm)
- Lease agreement (documents)—having a physical address for your business/office is mandatory in the UAE. The rent in average within the free zone area is USD 25 up to USD 45 per sq. ft. (USD 225 up to USD 400 per sq. m.). Our firm can assist you while searching for your physical address. You can learn more about leasing and rental cost here. (This item will be required only after we obtain the initial approval from the authority.)
- Notarized and attested Power of Attorney appointing our firm as your legal representative, so that we can act on your behalf and/or on behalf of the shareholders (template will be forwarded by our firm).
- There are some activities which might require third party/authority pre-approval—accordingly, additional cost and professional fees might be applicable.
- Also during the process, the authorities might require a few other documents.
Additional Documents Required for a Corporate Shareholder
- Attested and notarized Memorandum of Association/Article of Association—it must be attested from the UAE Embassy at the place of origin
- Board resolution must be resolute by the board of directors of your existing company/entity at the place of origin expressing intent of establishing a new setup abroad. It must be attested and notarized by the UAE Embassy (template will be forwarded by our firm).
- Certificate of registration (if applicable) of your existing company/entity, license, or certificate of incorporation must be attested and notarized by the UAE Embassy
Sharjah LLC Company Formation Cost
Below is the estimated business setup cost with our own assessment of the fees. You can contact us for further information regarding this table of estimation.
|Trade Name Reservation||Govt. Agency||One time||610||100% Adv.||View|
|Initial Approval for Your Business||Govt. Agency||One time||110||100% Adv.|
|Local Citizen – Sponsorship Fee||Your Business’ Local Sponsor||Yearly||15,000||100% Later||View|
|MOA – Legal Translation Services||Translation Services||One time||1,280||100% Adv.||View|
|Notarization of MOA||Govt. Agency||One time||960||100% Adv.||View|
|Licensing & Certificate of Incorporation Fees (for specific business activity)||Govt. Agency||Yearly||7,000||100% Adv.||View|
|File Opening – Immigration (Establishment Card)||Govt. Agency||One time||860||100% Adv.|
|File Opening – Ministry of Labour (Establishment Card)||Govt. Agency||One time||2,053||100% Adv.|
|E-Signature Card – Ministry of Labour||Govt. Agency||One time||1,000||100% Adv.|
|Farhat Office & Co. Fees – Your Business Registration Consultant’s Professional Fees|
All of the Following Services are Included:
» MOA drafting – Arabic/English
» Power of attorney drafting – A/E
» Side Agreement drafting – A/E
|Professional Fees/Farhat Office & Co.||One time||15,000||100% Adv.|
ATTENTION – NOTE