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Sharjah Media City Free Zone is the perfect option for your business set up in UAE. It is the perfect solution for the media and creative companies and the other types of businesses.
The Shams free zone company formation procedure can be easy and smooth if you make a proper plan. With Start Any Business (SAB), the Sharjah free zone company formation becomes easier.
The rules of their respective free zones govern companies that are set up in free zones. The free zones of Sharjah are playing a vital role in supporting the economic development of the UAE. It has driven significant overseas investment in the form of a new company set up in the UAE.
Sharjah Media City Free Zone
Shams free zone allows nearly all those commonly convenient services in all other free zones in the UAE. They provide the perfect license and business activities that are very interesting to those going to start their business in the free zones.
SHAMS is the third largest free zone in the UAE and the hub of the media and creative industries. This free zone was begun in 2017 with a concept to be a top-class center of media and creativity in the area. Shams purpose is to make productive entrepreneurship available and encourage business development in the area. The Media City (SHAMS) free zone offers zero percent corporate tax for 50 years, zero percent import and export duties, full overseas ownership, free transfer of funds and complete repatriation of all capital and gains.
Sharjah Media City Free Zone is a great hub of advanced services and facilities. SHAMS offers the massive range of business activities accessible for you to grow and flourish. Along with the company set up in Sharjah Media City, developers shall learn, co-create and live. Shams free zone business setup is advantageous for entrepreneurs, companies and freelancers working in technology, creative industry and media.
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Advantages of Shams Free Zone Company
- Physical presence not required in the UAE to establish your new company:- The company set-up procedure can be performed from the convenience of your own home through the free zone’s easy and immediate application method.
- No paid-up share assets or annual audit:- Unlike other free zones choices, you are not hindered by holding to block a high share capital expense with your bank to establish your new company; neither do you have to go by the time and expenses of a clumsy company review every year to renew your trade license.
- Traders & partner visa:- You can apply for a traders/partner visa for your company with the minimum age of 19 years old. Moreover, the traders/partner visa is valid for three years.
- 100 % recovery of capital and savings:- Unlike most of the other nations, you will have a complete exemption to recover all your spent funds and savings. Along with this, in the UAE, there are also overseas market regulators and currency limitations.
- Versatile visa allocation to suit your company’s needs:- You have the versatility to staff your new business appropriately from the source. Unlike other free zones, the visa allocation is accessible without renting high and expensive office space.
Types of Licenses offered by Shams Free Zone
The four types of Shams free zone license available in UAE, choosing to spend in negotiating service, industrial or taking a license, vary on the business’ needs.
- Industrial License:- It permits reproduction, production, transformation, and manufacturing of assets. You could open the business, which comprises the production, transformation, reproduction, and manufacturing of assets.
- Service License:- It permits reproduction, production, transformation, and distribution of services. Service license comprises offering services as a major goal and using goods to offer them.
- Holding License:- It enables holding standalone assets or stakes in other companies. You would need a holding company to control other property like real estate, trademarks, stocks, patents, and other goods.
- Trading License:- It allows selling goods with Shams or importing and exporting goods. It comprises the movements of goods, wholesale and retail sale of goods, and services associated with selling them. Wholesaling and retailing are the final steps in the distribution of goods.
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Requirements For Shams Free Zone Company
- The branch company has to produce documents of its parent company
- All documents must be authenticated and authorized by appropriate officials
- Companies associated with the media industry are preferred; however, other businesses are also permitted to set up.
- There are several departments for company setup, and endorsement from all these departments is required.
Many steps require to be taken; some complex, some less difficult. The first thing you have to do is choose your business custom. From here, you will be required to agree on your business name, finalize and send your registration documents to the responsible officials, open a corporate bank account, and apply for any visas that may be required.
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Frequently Asked Questions on Meydan Free Zone Company Setup
The minimum amount for building a free zone company is AED 50,000 per company and AED 10,000 per stakeholder. For a corporation to be granted a general trading license, this must have a minimum of AED 1 million share capital.
In order to start a business in Shams, follow some essential steps that are –
• Selecting your company name
• Selecting your business type and activities
• Submit application and needed documents
• Make payment for the license
• Start trading
To start a free zone business in UAE, here also some steps that you have to follow are –
• Determine the type of legal unit
• Choose a business name
• Apply for a business license
• Choose an office space
• Get pre-approvals,
• Register your business
• Get your business license
The cheapest free zone license you can get from the cheapest free zone in the UAE. That free zones are –
• Sharjah Research Technology and Innovation
• Ajman Media City
• Sharjah Media City Free Zone
• Ras Al Khaimah Free zone
• International Free Zone Authority
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