Shams free zone license cost, company setup and more
Sharjah Media City free zone – Get your Shams free zone license for company setup without any hassle and hidden cost. Contact Shuraa Business Setup for more details.
Sharjah Media City free zone, also known as Shams, is one of the fastest growing free zones in the UAE. Launched in 2017, Shams is a hub for entrepreneurs in the creative field. Furthermore, the free zone is in close proximity to Sharjah International Airport and Dubai International Airport.
Sharjah Media City free zone offers pocket-friendly resources for businesses in all stages, from startups to large multinational companies. The free zone is home to over 200 business activities from accountancy to wholesale.
Additionally, it offers an array of opportunities to entrepreneurs and investors looking to grow their company quickly. Moreover, these opportunities enable entrepreneurs to establish presence locally as well as internationally.
Types of business structures in Shams free zone:
There are two structures that is permissible in the free zone. These include:
- Limited Liability Company (LLC)
- Branch company
Benefits of business setup in Sharjah Media City free zone:
Shams offers minimal upfront as well as renewal costs. It is also one of the few free zones in the country that offer hassle-free registration processes in the UAE. In addition, regardless of wherever you are based in the world, you can register your company within just a week. The various benefits of Shams business setup include:
- 100% foreign ownership
- No personal, income, or corporate taxes
- Full repatriation of capital and profits
- Strategic location boosting opportunities
- No paid-up share capital required
- Wide range of business activities
- Simple and quick set up process
- World-class infrastructures
- Leasing options
- Global connectivity
- Exemption from all import and export duties; however, you can’t import into mainland
Facilities offered in Shams free zone:
The free zone offers world-class facilities for companies looking to form a company in the jurisdiction. Some of these include:
- Shared office space
- Creative spaces such as studios, showrooms, and more
Shams free zone license:
There are various types of trade licenses offered in Shams free zone. These include:
- Industrial license
- Trading license
- Service license
- Holding license
- Freelance permit
- E-commerce license
Although the name Sharjah Media City free zone suggests that the jurisdiction specifically caters to media-related activities only, it is not restricted to just that. It offers approximately 120 activities, providing investors with the opportunity to combine different business activities under one Shams business license.
SHAMS Free Zone License Cost
Shams license cost starts from approximately AED 5,750. However, the price may vary depending on the nature of your business.
License renewal in Shams free zone:
The renewal process of businesses in Shams is highly cost-effective and simple. Moreover, the free zone does not require an annual audit report for renewal of your Shams free zone license.
In order to complete the process of your company’s license renewal, you will need to pay the renewal fee and submit the signed lease agreement of your facility. Furthermore, another advantage of having a company in Shams is that your physical presence in the UAE isn’t required for renewal and can be carried out by an agent.
Company liquidation in Shams free zone:
Similar to renewal, company liquidation also does not need the physical presence of the owner and can be accomplished through a corporate agent. You will, however, be required to pay the government fee to complete the process of liquidation.
Company liquidation process takes about one month and involves the following steps:
- Cancellation of visas
- Termination of lease agreement
- Closure of bank account
- Clearance from customs, if your business was involved in trading
To find out more about various options available for Shams company setup, contact Shuraa – one of the best business setup companies in Dubai. Shuraa helps solve your business-related queries and offers you best-suited solutions for your Shams company formation in the UAE.
To get started on your business journey and find out more, contact our expert consultants at +97144081900 or send a WhatsApp message on +971507775554. You can also drop in an email at firstname.lastname@example.org and get your queries answered in no time.
Frequently asked questions about Shams free zone:
Yes, you can renew your license remotely via a registered agent with just an authorization letter and renewal fees.
It takes less than a week to get your license and start your business in the Shams free zone.
No, you will have 100% ownership and do not require to have a local partner to start your company.
It is not possible to transfer your company from one free zone to another. You can, however, set up a branch of your existing company in a different free zone.
If you want to transfer your company in a different free zone, you will be required to liquidate your company in the current free zone and then begin with your company formation process in a different free zone of your choice.
Having an office space is no longer a mandatory requirement to set up a business in the UAE. Although, license applications for some business activities would require you to submit a copy of your ejari (tenancy contract). There are various options of leasing an appropriate office space within your budget to suit your company requirement.
Yes, you are permitted to make changes and additions to the list of your business activities after company incorporation.
Yes, you can use your existing visa to incorporate your company. Additionally, you are not required to obtain an NOC from your current sponsor.