Thanks to the low tax rates, ease of registration of a company in the UAE and absence of reporting obligations, the United Arab Emirates has gained a reputation for being one of the most business-friendly countries in the world. The UAE will be particularly interesting to foreign businessmen seeking to start a business in the Emirates, and more specifically, for those of them who want to register a company in Sharjah.
Those interested in registering a company in Sharjah should keep in mind that there are more than 30 free economic zones in the UAE. There are virtually no taxes, while regulation is done solely on the basis of internal documentation.
In addition to almost zero taxation, there are no currency controls. It takes about a week to register a company in Sharjah. Please note: Obtaining a license in Sharjah and 2 certificates from the CCI and Ministry of Economic Development is a prerequisite for doing business in this free zone.
You can register a company in the Emirates by choosing one of the available types of enterprises.
If you decide to set up a company in Sharjah or open a bank account with Sharjah banks, you will be entitled to obtain citizenship of the Emirates and register a business in the UAE without a local partner.
Opening a business in a FEZ in a particular emirate has its own specifics. For example, it is possible to remotely register a company in Sharjah FZ; however, establishing a company in Sharjah is only possible if you rent an office there.
There are only two free economic zones in Sharjah:
- Sharjah Airport International Free Zone Authority - SAIF
- Hamriyah Free Zone Authority - HF
Registration of a business in the Sharjah Free Zone means paying no personal and corporate income taxes, nor export duties. Sharjah allows full foreign ownership and repatriation of capital/profits, as well as tax-free dividends. The advantage of this economic zone is the absence of commercial taxes.
The requirement for setting up a company in Sharjah FZ is having a minimum authorized capital of $40,000.
Considering starting a business in FEZ Sharjah? Wny not reach out to YB Case? Our experts will be happy to assist you in choosing the most suitable FEZ and provide professional advice on opening an account with a Sharjah bank.