Company Formation in Sharjah Mainland
Company Formation in Sharjah Mainland
Sharjah is one of the seven emirates that make up the United Arab Emirates (UAE) and is located on the eastern coast of the country. It is a popular destination for business owners looking to set up a company in the UAE due to its strategic location and favourable business environment.
Mainland companies in Sharjah are governed by the Department of Economic Development (DED), and the process of setting up a company in Sharjah Mainland involves several steps.
The DED has a list of over 1,000 business activities that companies can choose from. The legal structures available for mainland companies in Sharjah include a sole proprietorship, partnership, limited liability company (LLC), and branch office.
To obtain initial approval from the DED, you must submit the required documents, including a passport copy of the proposed owner or owners, a business plan, and a proposed name for the company. The DED will review the documents and issue initial approval if everything is in order.
The trade name should be unique and not already registered with the DED. After obtaining the trade name, the company can be registered with the DED by submitting the required documents, including the Memorandum of Association (MOA) and Articles of Association (AOA), which outlines the company’s structure and operations.
After registering the company with the DED, you must obtain approvals and permits from other government entities, such as the Ministry of Economy, Ministry of Labour, and General Directorate of Residency and Foreigners Affairs. The approvals and permits required will depend on the business activity and legal structure of the company
Companies in Sharjah Mainland are required to have a physical office space in the emirate. The company can either lease or purchase an office space, but it must meet certain requirements, such as being zoned for commercial use and meeting the minimum size requirements.
The final step in the process of setting up a company in Sharjah Mainland is to obtain a commercial license from the DED, to legally operate in the UAE and conduct business activities. The license must be renewed annually.
Major Advantages of Setting Up a Business in Sharjah
The economy of Sharjah is gradually getting better as the emirate is attracting foreign investment from all over the world. Establishing a business in Sharjah offers the following advantages to business owners:
- 100% foreign ownership
- Tax benefits
- Flexible government regulations
- Affordable trade license cost
- Easy renting of office
- No restrictions of currencies
- Full repatriation of profits and capital
Sharjah Mainland is home to a diverse range of industries, including:
Manufacturing
Trading
Construction
Financial Services
Education
Tourism
Healthcare