Dubai is emerging as a corporate giant in the UAE. The Department of Economic Development (DED) issued around 20+ varieties of new business licenses recently. In addition, it has introduced intelligent economic strategies and business-friendly laws for all the interested investors. SHAMS Free Zone company setup is emerging as one of the fastest ways to start a business in Dubai.
Setting up a company in SHAMS brings countless business opportunities in the field of media and the digital world. Moreover, it is known to be famous for the level of freedom and unique features it provides.
If you want to set up a company in SHAMS, continue reading for detailed information about SHAMS LLC company formation as well as SHAMS free zone license cost in Dubai.
What Are the Steps To Start a Shams Free Zone Company?
The winning feature of setting up a company in SHAMS is the variety of start-up facilities it offers. Creative heads and people from a background in media studies can start Company Formation in Sharjah with great ease. The process of SHAMS free zone company setup involves the following steps:
- Go to the Sharjah Media City web portal to initiate your business startup process.
- State the type of business activities you wish to conduct.
- Apply for the relevant license (general trading license, professional license, or industrial license).
- Visit DED for approval of your license.
- Draft an MOA (Memorandum of Association) and LSA (Local Sponsor Agreement) and submit them to the DED. You will need the help of a local sponsor to complete this step.
- Apply for a residency visa (mandatory) and employment visa (if required).
- Apply for a tenancy contract. Register your property with Ejari and obtain your unique Ejari number. Save it for further documentation and future references.
- Submit all the documents and pay the required fees.
- Obtain your license and wait for the approval (in 7-10 days).
What Are the Benefits of Shams Free Zone Company Formation?
There are various reasons why the SHAMS LLC company formation is becoming a popular choice amongst various budding entrepreneurs. Here are 7 major advantages of setting up a company in SHAMS:
1. Easy Registration Process
Capitalists can easily register their company through online registration portals. It only takes 90 minutes to complete your company’s registration process in the SHAMS free zone. Moreover, the Dubai government has made the process of getting a license in SHAMS free zones very easy and hassle-free. No Objection Certificate (NOC) is required during SHAMS free zone company setup that can be obtained in under a week’s time.
2. Range of Activities
There are various business activities available for SHAMS Free Zone company owners. Businesses like plumbing, publishing, e-commerce companies, management, book-keeping, human resource, etc can be performed under SHAMS free zone companies. The entrepreneurs have the liberty to choose from 2,000+ business activities permitted bу the Department of Economic Development (DED) Dubai.
3. Business Licenses
There are various types of licenses required to conduct a variety of works in the SHAMS free zone. The list of licenses available for Shams free zone company owners is as follows :
4. Service License
A service license is required if you are planning to provide services to locals and other business departments.
You need a trading license if you are planning to conduct selling, importing, and exporting through your LLC company.
This license is necessary for company owners who wish to perform manufacturing and production of goods on their premises.
The TECOM Group issues this license. It allows you to work as an independent contractor in Dubai.
An eCommerce license allows you to conduct business through online portals throughout the UAE.
5. Easy Account Opening
Opening a bank account for your free zone company is easy. Banks listed under the Dubai Department of Economic Development (DED) allow the owners of SHAMS free zone companies to open corporate bank accounts. This helps with seamless transactions.
6. Shareholder’s Presence
In SHAMS Free Zone, shareholders’ presence is not as important as it is in other regions. Hence, the SHAMS LLC company formation becomes relaxing for non-residents as well as for business owners in the UAE.
7. Freedom to Repatriate
Company Formation in Sharjah gives you the freedom to repatriate 100% of your profits and capital. Moreover, the process of repatriation is quick and hassle-free.
What Are the Important Documents Required for Shams Business Setup?
When it comes to paperwork, there can be a lot of confusion while submitting your documents. Hence, we have prepared a list of all the necessary documents needed for SHAMS business setup for your convenience.
- Passport of the shareholders
- Passport size photograph
- Entry stamp or Visa page
What Is the Shams Free Zone License Cost?
The cost associated with Shams free zone company formation starts from AED 8000 to AED 11000. Other SHAMS free zone license costs involve:
- Investor Visa (3 years) cost per visa: AED 3,675
- Employee Visa (3 years) cost per visa: AED 3,234
- Medical test per visa: AED 320
- Online refundable deposit: AED 5,000 (currently waived)
- Establishment card (3 years): AED 1,575
- Emirates ID per visa: AED 375
- Online registration fee: AED 2,525
- MOA charges if only one (1) shareholder: AED 350
- Online renewal Fee from 2nd year: AED 1,250
Connect with Shuraa Today!
If you are looking to establish your own company in Dubai, we suggest you go for the SHAMS free zones. Your dream will become a reality only if you get the right direction and opportunities.
Legal procedures and paperwork of your SHAMS Free Zone Company Setup will be easy when you have an expert from Shuraa UK Branch by your side. Our experienced members will assist at every step, help you gather all the required documents, and even get you a SHAMS free zone license at fairly reasonable rates.
All you need to do is give us a call and we will take care of the rest.