The SHAMS free zone, or Sharjah Media City, is a comparatively new free trade zone. Established in 2017, SHAMS was created as a media hub to generate and foster creativity for the region. Since its inception, it has quickly grown into a popular free zone due to its attractiveness among media-based entrepreneurs. SHAMS caters to numerous other industries, but it has also cemented itself as a tentpole for those seeking to do business in the media sector.
SHAMS operates differently than most other media zones, with lower startup costs and unique license packages. But how does one go about creating a business in SHAMS?
Taking the first steps to start a business in SHAMS Free Zone may seem a bit overwhelming, especially if you’re not familiar with business practices in UAE, but let’s look at the steps you’ll need to undertake to help streamline the process!
Your first step will be to create an account with Sharjah Media City and choose from the various available business licenses. Some of the options are industrial, trading, holding, and service licenses
After you’ve created your account, you will want to choose the type of office you’ll require and whether it’s a dedicated or shared office or desk.
From here, you will want to submit all mandatory forms and documents, either yourself or via a consultant.
After submitting the appropriate documentation, you or someone on your behalf will need to pay the fees.
The SHAMS free zone allows businesses to utilize various office spaces designed to serve clients and their specific needs. Here are a few types you’ll find in SHAMS!
A dedicated desk is an assigned space for clients that want to run their business alongside entrepreneurs of similar sectors.
A shared desk, unlike the dedicated version, is a common workspace that entrepreneurs share. This option is often considered ideal for entrepreneurs looking for networking options and flexible workspaces.
A dedicated office is an individual office space. These offices are lockable and offer private work environments for individuals that seek to promote collaboration.
Shared offices give businesses registered in the SHAMS the ability to network, generating better business and networking opportunities.
The number of business activities available in the SHAMS free zone is vast, with a wide range of options that are helpful for companies seeking to network or house multiple business types under one roof. Whether it’s a service, trading, or industrial license, SHAMS free zone can help your business prosper!
There are roughly two types of companies in SHAMS
A SHAMS LLC, or limited liability company, is an independent entity that operates to separate the owners and shareholders from the company, limiting the liabilities for each individual owner or shareholder. Additionally, the company’s assets belong to the company and not the individual shareholders. The advantages here are numerous, including the ability to operate as an independent entity, entitlements to licenses, sponsors and bank accounts.
A SHAMS Branch setup is an entity that belongs to an already established parent company. All gains and benefits of a branch shall be owned solely by the parent company. However, all expenses, debts, or liabilities also fall under the ownership of the parent company.
There are many various advantages to starting a company in SHAMS free zone.
The process to register for a company or branch in SHAMS is quick, easy, and efficient! You won’t find the same amount of red tape with SHAMS as you would when applying to other free zones.
SHAMS offers a ton of various business activities to suit any company’s needs, and allowing multiple businesses to operate out of one office space can be extraordinarily helpful for investors.
SHAMS free zone gives companies the ability to place numerous businesses under the roof of a single license, provided they all exist in related fields.
Opening accounts have never been more accessible than it is in SHAMS free zone. Straightforward and streamlined, investors are provided with a list of banks aligned with the SHAMS free zone.
In SHAMS, it is not necessary for you or your shareholders to be physically present during the incorporation of a new business. So no need to buy expensive plane tickets or trek halfway across the planet to conduct business!
SHAMS will not require you to provide a large block of share capital to form your new company, unlike many other free zones. Nor will you be subject to annual audits.
In SHAMS, you have the freedom to repatriate all your invested capital or profits without having to suffer the hassle of currency restrictions or foreign exchange controls.
SHAMS free zone allows you to apply for a partner/investor visa for your company as long as the applicant is at least 19 years old. This visa is valid for three years.
This flexibility gives you the power to staff your new business adequately from the starting line! Unlike similar free zones, SHAMS visa allocation is available without the need to rent or lease office space.
MSZ Consultancy boasts over 12 years of expertise, offering solutions for businesses, ranging from company formation to providing services for established industries. We are experts that want to help you with all your consulting, legal or banking needs!
MSZ works closely with all government agencies, providing an efficient process no matter where you choose to place your office! We proudly serve clients in:
And many more!
Why choose MSZ Consultancy? We have proudly served over 32 thousand customers around the world, and with our expertise, we strive to be your all-in-one solution for any business opportunity in the United Arab Emirates! Creating a company? We handle it! Local sponsorship services? That too! Product and company registrations? No problem! We specialize in it all!
Give us a call today at +971 52 544 1248, and let our expert business consultants help you get started!