* The information about beneficiaries and directors in the UAE is closed, subject to a registration of the company in Free Zones!
If you plan to register a company in the UAE, please draw your attention to one of the UAE FZ, SHAMS, which is suitable for freelancers, both large and start-up companies in the field of modern development and the media. Entrepreneurship in SHAMS is accompanied by high-quality service at an optimal pricing policy.
Benefits, that open to businessmen, who want to register companies in Sharjah Media City:
- The starting price for incorporating a company starts at $2,300/AED 8400;
- It is possible to set up a company in SHAMS with a trade license for the price of one license;
- Granting up to 6 visas at the time of incorporation of 1 company;
- Perhaps 100% foreign participation;
- No corporate taxes (exception - 5% VAT);
- No currency control;
- No labor restrictions in relation to foreign persons;
- A high level of confidentiality;
- The ability to obtain tax resident status in the UAE;
- Obtaining residence permits for shareholders and employees of the enterprise;
- No customs duties, when working with the Gulf countries.
Establish companies in Media City possibly in such legal forms:
- A Limited Liability Company (LLC);
- A branch of the company;
As we noted earlier, SHAMS FZ issues Free Zone licenses for enterprises, freelancers and employers involved in industrial development and media.
Types of possible licenses:
- A service license;
- A commercial license;
- A license for the holding (without a visa);
Shareholders and Management at SHAMS
A shareholder of a registered company in this Federal Law can be both an individual and a legal entity. The maximum number of shareholders is 8 (eight) in one company. Please note, that in order to register a company in Sharjah, a director is required, which can be selected from among the shareholders. A manager can be selected from among the shareholders / directors of the company. Director and manager can be one person.
Take into the consideration the fact, that in order to open an enterprise in Sharjah Media City, seed capital is not required.
As an office space for your company, you can choose the following types:
- Dedicated Desk (separate workplace);
- Shared Desk (common space for entrepreneurs);
- Dedicated Office (separate office space used individually by furniture);
- Shared Office (General Office).
To register a company in SHAMS Free Zone implies the possibility of obtaining a maximum of 6 visas. There are no visa deposits required to apply for visas. You can get an investor visa in the UAE for 3 years, as well as a work visa for 3 years.
To obtain a visa in Free Zone, you must pay an annual fee for each applicant. The distribution of visas must be decided while you register a company in the UAE. The visa application process takes approximately 7 business days.
It is important to note, that SHAMS has age requirements for obtaining a visa in Sharjah Media City. So, the minimum age is 19 years, and the maximum age of partners/investors is 69 years. If we consider work visas, then the maximum age is 59 years.
The accounting and the audit
Each company registered in the territory of this Free Zone must keep proper accounting and financial records, which are stored in the registered office, and not outside of it. An audit of the company, in turn, is optional.
After the company in Sharjah is incorporated, you receive the following original documents:
- The Memorandum and Articles of Association;\
- A license;
- A share certificate;
- A company registration certificate;
If you decide to register a company in Sharjah or to open an account in the UAE, pay attention to the advantages and benefits of this emirate. Our experienced lawyers will provide detailed information.