The Sharjah Airport free zone, or SAIF, located along the southern coast of the Persian Gulf, is a beautiful destination for any business enterprise seeking to operate in the UAE. This sector boasts especially advantageous proximity to seaports and even Dubai International Airport. SAIF free zone is considered one of the most dynamic free zones in the region, praised for its versatility and efficiency. SAIF strives to make the process of creating a business a simple, hassle-free experience.
7 Steps To Setup a Business in SAIF Free Zone
Starting a business can be a scary process, regardless of where you decide to cut the ribbon! But in SAIF free zone, you’ll find some of the most attractive business incentives in all of the UAE! With 24-hour licensing that can have you up and running with little to no red tape, it’s a no-brainer why so many industries regularly flock to SAIF. So, where does one begin, you might be asking. Here’s the process of starting a business in this free zone!
Submit Application to Sharjah’s DED
You’ll want to submit your application directly to Sharjah’s Dept. of Economic Development. This includes the application form and a basic project outline for the sales and marketing department.
Prepare Your MoA and Shareholder Resolutions
Before applying, you will want to have at your ready the Company’s Memorandum of Association and all shareholder resolutions.
Submit Documentation
Submit all Necessary Supporting Documents and pay all necessary license fees.
Receive Your Trade License
From this point, it should only take 2-3 days to receive your trade license.
Apply for a Company Establishment Card
After receiving your trade license, it’s time to apply for your Company Establishment Card (CEC).
Residence and Employee Visas.
Upon receiving your CEC, you will now need to apply for residence visas for yourself and your employees.
Opening a bank account
The final step will be to surpass any remaining clearances, allowing you to open an account with one of SAIF’s partnered banks.
The Documents You’ll Require to Begin a Business in SAIF
What Types of Business Licenses Does SAIF Offer?
• Trading
A general trading license to serve businesses that sell a wide range of products.
• Manufacturing
This license is offered for industrialized businesses, assembly, importing raw materials, and the export of finished products.
• Service
This business license focuses on companies that operate in the service field. All services are permitted, provided they follow local and federal laws and guidelines.
• Commercial
Commercial licenses are for the import, export, storage, or warehousing of various goods.
Why SAIF Free Zone is Perfect for New Business
SAIF proudly hails itself as a dynamic, expansive center that provides a wide range of business opportunities for startups.
• Fast Licensing
SAIF cuts through the red tape by keeping a licensing center open 24-7, giving businesses the ability to get started faster without any hassle or wait times.
• Promotes Enterprise
Business requirements evolve constantly, and the success of a new company’s endeavors squarely sit upon the bedrock of infrastructure and resource availability. SAIF design their procedures with entrepreneurs’ needs at heart.
• Secondary Facilities
Carrying out business will always require the infrastructure of services such as legal services, restaurants, banks, post offices, and more. In SAIF, these necessities are always within arm’s length.
• Geographic Advantages
SAIF is positioned close to airports and seaports, granting it strategic logistical advantages over other business hubs. Additionally, the geographic location of SAIF makes it an excellent point to do business with African, Asian, and European markets.
• Four Business Types
SAIF has separated licensing into four business types. Trading, commercial, service, and industrial licenses keep the red tape of company formation to a minimum.
Additional Benefits of Business Setup in SAIF Free Zone
Beyond the ease of access and 24-hour service, creating a business in Sharjah free zone offers numerous extra benefits that make it an incredibly enticing region for entrepreneurs. Some of these include:
- No tax burden, allowing investors to operate freely
- Strategic location at the center of the world market
- Easy sponsorship, work, and visa support for your staff
- An extended lease period, lasting 25 years
- No restriction on hiring professionals from various nations
- Investors can have 100% ownership, even as foreign citizens
- The flexibility of onsite labor
- Accessibility to the Indian Ocean and Arabian Gulf port systems
Let MSZ Consultancy Help!
MSZ Consultancy is proud to have over 12 years of experience offering solutions for businesses, ranging from company formation in UAE to serving already-established industries with their consulting, banking, business, and legal needs.
MSZ is proficient in working closely with all government agencies, maintaining streamlined practices no matter where you choose to operate! We specialize in serving clients in:
– E-Commerce Markets
– Technology
– Trading
– Manufacturing
– Fashion
– Real estate
And many more!
Why choose MSZ Consultancy? We have expertly served over 32 thousand customers worldwide, quickly becoming a veritable one-stop shop for all your business needs. Are you applying to start a business in one of the various free zones? We’ve got you covered. Local sponsorship services? We handle it! Bank account assistance? That too! Product and company registrations? No problem! We specialize in it all!
Call today at +971 52 544 1248, and let our business setup specialists help you begin your new business empire!
Frequently Asked Questions
What taxation laws apply to SAIF?
In SAIF free zone, businesses and employees are not subject to taxation. No income or corporate taxation!
How are disputes handled between companies in SAIF?
The role of SAIF is not to provide judicial authority. Complaints can be filed through the SAF, but companies in SAIF are increasingly leaning toward out-of-court arbitration for most disputes, mainly due to it being an optimal method for parties to resolve issues quickly.
What are the rights and responsibilities of employers and employees in SAIF?
The rights and responsibilities of both employers and employees can be found under the UAE Federal Law No. 8/1980. This law applies and covers the rights of both parties.
What type of company amendments can be found in SAIF?
Amendments for any company located in SAIF can be completed only by the shareholders or power of attorney (POA) holders. Some amendments are:
-Adding/Removing Director
-Managerial Change
-Financial year changes
– Shares transfers
What is required for company liquidation?
Company liquidation will require the submission of these documents:
- Clearance from customs
- Visa status report from SAIF immigration
- Board Resolution for liquidation
- Clearance from facilities management department
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