FreeZones at Sharjah
The Emirate of Sharjah is the oldest Emirate on the coast of Oman, and lies in the centre of other emirates, spread over an area of 2600 sq. km, occupying 3.3% of the total area of the UAE(not counting the islands). The FreeZone Authorities in Sharjah are the government bodies registering non-resident companies and issuing business licenses.
The Free Zones in Sharjah are cost effective in registration and liberal in issuance of residence visas. The Emirate of Sharjah has created two Free Zones offering 100% ownership to foreign investors. These are
- Sharjah Airport International Free Zone(SAIF ZONE)
- Hamriyah Free Zone(HFZA)
Setting up a business in Sharjah Free Zone requires planning and decision making through different phases. This involves choosing a name for the company and reserving with the Free Zone, preparation of business plan, choosing suitable infrastructure, estimating required human work force etc. The business registration or licensing process can be completed only after depositing the minimum capital mandated by that Free Zone, in a bank account in UAE. A company being formed may have either an individual shareholder or corporate shareholder or both. The incorporation process requires the shareholders to sign the documents in the presence of Free Zone authorities.
An individual or a corporate entity can set up and do business in Sharjah Free Zones (SAIF Zone or HFZA) being registered in any of the following legal forms:
- Free Zone Establishment (FZE) – entity with one shareholder
- Free Zone Company (FZC) – entity with 2 to 5 shareholders
- Branch of a Foreign Company
- Branch of a Local Company