Sharjah is considered one of the most reliable and fastest-growing Emirates in the UAE. It’s a fantastic place for business setup in Dubai, and it contains one of the most business-friendly environments around. For business incorporations, Dubai is one of the first names that comes to mind for most entrepreneurs. Over the last couple of decades, Sharjah has shown incredible growth, resulting in an ever-increasing amount of investors moving to the region for business setup. Additionally, Sharjah offers fantastic infrastructural facilities to give businesses the power to constantly push into the future of business. So, if you’ve decided to form your new business in Sharjah, you’ve come to the right place!
Sharjah is home to a diverse collection of business types and fulfills the needs of companies across the UAE. Thanks to this wide range of business activities, Sharjah is known as one of the most industrialized emirates in the region. It’s a fantastic location to set up your business in a Free Zone, with access to the Sharjah International Airport for travel, advanced infrastructure, and a flourishing economy. Investors from all over the globe travel to the region regularly to conduct business. And you should, too!
Business Formation in Sharjah
Setting up your business in Sharjah is an easy, streamlined process that offers many advantages. But, as with any business formation, performing ample research can do wonders in making the process easier. To help you along the way, we’ve listed the procedures for registering a company in Sharjah.
1. Choose Your Business Type
You’ll need to decide what type of business you intend to conduct and apply accordingly with the proper jurisdiction. This is a crucial part of the process that will dictate how and where your company operates.
Additionally, you’ll need to choose the legal structure of your company. This process will determine how your business will handle all assets, profits, and losses. For business aspects such as this, having the expertise of skilled consultants like those with MSZ on hand can be an immeasurable help.
2. Company Registration
After choosing your business type and legal structure, you’ll need to register your company with the Department of Economic Development (DED). The application for company registration can be found on the Sharjah Chamber of Commerce website.
3. License Application
You’ll need to choose what type of business license you’ll need on your application. You’ll have the option to choose between a commercial, professional, or industrial license.
4. Trade Name Registration
At this point, you’ll need to register the trade name for your company. This name can be anything, but it may not be previously taken by a similar company and cannot include any profanity. Your trade name will need to be approved by the DED.
5. Drafting of Memorandum of Association (MoA)
Applicants must provide all relevant details of their business to draft an MoA. Once completed, it will need to be notarized.
6. Lease Agreement
For company formation, you’ll need a lease agreement and a physical office space in the Sharjah region.
7. License Fee Payment
Once you’ve chosen your license type and received approval for your trade name, you’ll need to pay the license fee. This should complete the process of company registration in Sharjah.
Requirements for Registering a Company in Sharjah
To complete the application process, you’ll need to have the following documents handy:
• Verification of Trade Name Reservation
• Verification for initial approval for your chosen activity
• Notarized and attested Memorandum of Association and Articles of Association
• Copy of passport for shareholders
• Copy of passport for Managers
• Lease agreement with company details
• Board resolution for foreign companies
• Certified Power of Attorney of the legal representatives
• Pre-approval of all involved parties
If this process seems a bit overwhelming, you may choose to use third-party consultant services like MSZ to help explain the process in a clear, concise manner. Our team of skilled experts has the experience to navigate business setup in Sharjah, critical visa applications, PRO Services, and much more. It doesn’t matter whether you’re a single investor or part of a larger corporate structure; MSZ Consultancy can help supercharge your investments and allow you to get back to what’s truly important! Call us today at +971 52 544 1248.
Advantages of Running a Business in Sharjah
As we’ve mentioned, there are many different advantages to operating a business in the Sharjah region. Aside from a positive business environment and a bustling economy, Sharjah offers:
• No tax responsibilities
• No limits on visa applications
• Numerous business activity possibilities
• Modern infrastructure, including banks and communication systems
• One of the quickest evolving economies in all the Emirates
For those interested in investing in the Sharjah Free Zone, MSZ Consultancy is a fantastic resource for business formation in Sharjah. With closely linked connections to Free Zone and Mainland authorities in the Sharjah region, we can simplify the more complicated aspects of conducting business in the UAE. Our expert consultants are experienced in helping new investors, and business owners streamline their business and concentrate on what matters the most.
Frequently Asked Questions
1. How do you start a business in Sharjah?
The process of business setup in Sharjah is simple. You’ll need to:
• File a company registration application with the DED
• Draft your company’s Memorandum of Association
• Obtain your trade license
• Apply for an establishment card with the Ministry of Labor
• Register your employees with the Ministry of Labor
2. Is it better to set up your business in Sharjah than in Dubai?
Yes! Business setups in Sharjah are often highly successful. With lower rates of competition, highly populated areas, and a comprehensive list of business activities at affordable operating costs, Sharjah is much more cost-efficient than Dubai.
3. What type of business can I set up in Sharjah?
There are several options available to you in the Sharjah region, including:
• Food Delivery
• Luxury Travel Agencies
• Property Management
• Recruitment Agencies
• Day Care/ Childcare Services
• Handyman Services
• Cleaning Services
• And More!