Business Setup Services in Sharjah
Sharjah, the UAE’s third-largest emirate, attracts investors due to its rapidly growing economy, cost-effective business environment, and government-friendly policies. The Emirates offers a strategic location, excellent connectivity to major markets, and cost-effective living conditions.
Expert Business Setup Services in sharjah, UAE
The Sharjah Department of Economic Development regulates company formation and offers various economic activities. The emirate is also known for being an industrial powerhouse and a hub for education-related activities. The World Health Organization has recognized it as a Health City for its strict alcohol consumption restrictions. Silver Oak Biz Business Setup in Sharjah consultants can provide more information on company formation.
Types of Companies in Sharjah Mainland
Investors in Sharjah Mainland must choose a legal structure based on the number of shareholders in their proposed company, which can lead to the establishment of various companies
Partnership Company
A partnership company in Sharjah is a joint-stock company formed by UAE nationals. It is liable for liabilities based on shares held, unlike an LLC, which cannot be established by foreign investors.
Limited Liability Company (LLC)
A Limited Liability Company (LLC) can be formed in Sharjah with a minimum of two and a maximum of 50 shareholders, with each shareholder’s liability limited to their capital share. Starting in June 2021, the government will allow 100% foreign ownership in Sharjah, eliminating the previous requirement of a UAE national sponsor.
Branch Companies
Registered companies, including UAE-based, foreign, and GCC-based entities, can establish branches in Sharjah mainland with the help of business setup advisers for quick establishment.
Sole Proprietorship
A Local Service Agent (LSA) Company in Sharjah is a sole proprietorship business with a single owner, requiring foreign entrepreneurs to appoint a UAE national. This structure primarily provides professional services, and the LSA is not entitled to any shareholding or ownership claims. Business setup consultants in Sharjah can assist entrepreneurs in navigating these legal requirements.
Public/Private Shareholding Company
A shareholding company divides share capital into equal-value tradable shares with limited liability for partners. Sharjah-based private shareholding companies follow Public Joint Stock Company rules, with founding members signing memorandums and articles of association.
Types of Business Licenses in Sharjah Mainland
Obtaining a trade license is time taking and lengthy process for business setup in Sharjah Mainland, as doing business without one is punishable. The SEDD permits various types of licenses based on the nature of activities, ensuring compliance with Sharjah’s regulations.
Commercial License
A commercial license in Sharjah Mainland allows entrepreneurs to distribute, consolidate, store, warehousing, and import/export. A regular license will enable investors to trade in specific product lines. In contrast, a general trading license allows a diverse range of goods. Obtaining a commercial license grants 100% foreign ownership in particular activities, with business setup consultants in Sharjah providing more information.
Service License
A service license in Sharjah mainland allows entrepreneurs to practice their expertise in specific services, such as consultancy, management, and accounting. Applicants must have relevant qualifications and undergo examinations to prove their claims. This professional license covers consultancy, management, and accounting services.
Industrial License
Entrepreneurs operating capital-intensive activities like manufacturing, mining, electricity, oil, and gas require an industrial license. In Sharjah mainland, special approvals from the Ministry of Labour, Economy and Commerce, and other government departments are required. Investors must submit all external approvals, and business setup consultants can assist them in navigating this process.
Register Your Business with the Dubai Department of Economic Development (DED)
To legally operate in Dubai, you must register your business with the Dubai Department of Economic Development (DED). The registration process is straightforward and conducted online. Here’s what you need to provide:
Company Name
Choose a unique and appropriate name for your business.
Business Activities
Specify the activities your business will engage in.
Directors and Shareholders
List the names and nationalities of your company’s directors and shareholders.
Business Address
Provide the physical address of your business location.
Capital
Declare your business’s capital investment.
Open a Business Bank Account
Opening a business bank account in Dubai is difficult for efficient company finances, with many banks offering this service. Ensure necessary documentation for a smooth setup process.
Process of Company Formation in Sharjah Mainland
The business setup process in Sharjah Mainland involves different steps, as outlined by the SEDD. Investors can use the best business setup services in the UAE. These steps include identifying business activity, assigning a Local Sponsor/LSA, determining legal structure, registering with SEDD for initial approval, applying for licenses, drafting a Memorandum of Agreement, signing lease agreements, obtaining external approvals, paying license fees, and receiving trade licenses.
Investors in Sharjah must submit specific documents for a business license application, which can be prepared using business setup services in the city.
- A copy of the business plan
- Attested & Notarized MOA and Articles of Association (AOA)
- Passport copies of all partners and managers
- Power of Attorney
- Bank reference letters, if applicable
- Board resolution for foreign companies
- Lease agreement Feasibility report of the project
Business Setup in Sharjah offers Many Benefits
Business setup in Sharjah offers numerous benefits, including 19 industrial areas contributing 49% of UAE’s output, zero corporate and personal taxes, world-class infrastructure, two coastlines, political stability, cultural capital, cost-effective labor, easy bank account opening, and easy sponsoring of dependents’ residence visas.
Business setup in Sharjah offers numerous benefits, including 19 industrial areas contributing 49% of UAE’s output, zero corporate and personal taxes, world-class infrastructure, two coastlines, political stability, cultural capital, cost-effective labor, easy bank account opening, and easy sponsoring of dependents’ residence visas.
A business setup in Sharjah, UAE, offers investors benefits such as 100% ownership, strategic location, and world-class infrastructure. However, entrepreneurs may need help with difficulties, such as choosing an activity, obtaining special approvals, and applying for a residency visa. Silver Oak Biz firm is a leading provider of business setup services in Sharjah and across the UAE. We provide highly qualified consultants who understand investors’ business ideas and offer appropriate advice. We can help with the entire process, including PRO services, bank account opening, MOA drafting, and executing regulatory requirements.
Frequently Asked Questions
90% of the economy comprises small to medium-sized enterprises, with critical growth sectors including transportation, finance, retail trade, accommodation, food service, real estate, and manufacturing.
Dubai offers numerous business opportunities in IT solutions, manufacturing, e-commerce, logistics, digital marketing, tourism services, consultancy services, cloud kitchens, automotive, real estate, F&B, retail, fashion, and beauty, making it a hub for ambitious entrepreneurs.
Foreigners can start a business in Dubai and own 100% of it, including all free zone and mainland companies, but certain activities may restrict this.
Dubai is ideal for starting a business due to its affluent services, including direct foreign investments, innovative expansions, and technological advancements.
PRO Services in Sharjah
Our Sharjah-based PRO Services streamline business operations by handling governmental and administrative needs like company registration, visa processing, and document attestation, allowing you to focus on growth.
Sharjah Free Zone
Our expert business setup Services in Sharjah Free Zone handling company registration, visa processing, and document attestation, allowing you to focus on business growth.
