Decoding the AED 5,750 company formation package
Even for a young nation, the UAE has placed itself as the economic hub of the Middle East. And for a good reason. There are several contributing factors which attract a huge influx of investors and entrepreneurs annually. One of the primary reasons is low cost free zone business setup in UAE.
Entrepreneurs can begin their business ventures for just AED 5,750. How? By choosing the Sharjah free zone business setup package. However, it is important to understand what the package entails. Whom is it suitable for? How can one avail it? What are its benefits?
The following column explains in detail the cheapest free zone license in UAE.
What does the AED 5,750 package constitute?
Rolled out by Sharjah Media City (SHAMS), the AED 5,750 package is designed for the formation of media companies. The offer, however, is only valid for Sharjah free zone business setup. The media license is a professional / service type of trade license issued by SHAMS. But, the package does not include any visa.
Entrepreneurs can engage in any one of the 13 activities allowed under the media license:
- Digital marketing
- Programming and consultancy
- Media production
- Web portal
- Market research
- Graphic design
- Fashion design
- Interior design
- Translation services
To add more activities under your trade license, you need to pay AED 1,000 per activity.
Whom is the SHAMS package suitable for?
As the AED 5,750 package is promoted as the cheapest free zone license in UAE, it is most favourable for startups. However, it is open for all, including non-residents.
Below are some of the businesses for which getting a media license in the Sharjah free zone business set up is advisable and an evaluation of why the SHAMS package is recommended:
Residents of the UAE
One of the primary reasons for company formation is to avail resident visas for one’s family as well as employee visas. Although the package can be availed by foreign investors, the purpose of setting up a business in the UAE is not served. Why? It does not include any visas, which is one of the perquisites for opening a bank account in Dubai. Therefore, it makes more sense for people with UAE residency visas to apply for the SHAMS media license.
Entrepreneurs who are employed and owners of other existing businesses
To apply for a media license in SHAMS, you do not need to obtain a No Objection Certificate (NOC) from your current sponsor. Therefore, people who are have a job can also start their own business ventures by availing the Sharjah free zone business setup package.
Benefits of availing the SHAMS business setup package in UAE
Not only is the SHAMS media package a gateway to low cost free zone business setup in UAE, but it also has other benefits:
100% foreign ownership with a Limited Liability corporate structure
Usually on the mainland, businesses with professional / service licenses do not prefer an LLC structure as this would require them to partner with a local sponsor who would mandatorily own 51% of the company shares. In SHAMS, however, your media company can have a limited liability corporate structure along with 100% expat ownership. The main advantage of having a limited liability structure is that in case of any untoward future event, your personal assets would remain safe as the company’s liabilities would suffice to deal with the situation.
Low cost free zone business setup in UAE
For aspiring media entrepreneurs, the package serves as a reasonable means of getting their own legal business with low investments and gaining hands-on experience. Therefore, startups can certainly consider getting the SHAMS media license.
Hassle-free company formation
The documentation for acquiring a SHAMS media license is quite simple. You just have to submit a copy of your passport, visa, Emirates ID and photograph. Also, you can get the license without being physically present in the Emirate. Furthermore, you can upgrade your license according to your convenience to apply for any number of visas.
To learn more about low cost free zone business setup in UAE or apply for a SHAMS media license, get in touch with Shuraa Business Setup. The free zone specialists at Shuraa will help you explore all possible options so that you can avail the cheapest free zone license in UAE. For enquiry, call on +97144081900 or drop a WhatsApp message to +971507775554 or simply send an email at [email protected].
Corporate Advisor | Free Zone Specialist