The UAE is a non-resident business hub that is developing at a tremendous speed. The country offers state-of-the-industry infrastructure, different incentives for non-resident businesses, supportive authorities, pro-business laws, as well as free zones which are highly recommended for company registration. In this post, we will look at Sharjah Media City, a rapidly developing free zone in the UAE that you may appreciate.
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Sharjah Media City (SHAMS): Benefits
You can register a company in SHAMS online on one condition: you have been to the country before for any purpose (tourism or something else). You will need to scan and show a stamp in your passport that confirms your visit to the country.
Here are the benefits you will get by registering your undertaking in SHAMS:
- The company you register in SHAMS will be a UAE resident, which will entitle you to a UAE resident visa and tax residency certificate.
- The free zone is located in Sharjah, the UAE’s cultural capital, and was meant to become a center of attraction for creative and media projects.
- SHAMS is focused on supporting a special innovative ecosystem to promote a unique lifestyle, a different way of learning, and joint creative efforts, and you can become a part of this community.
- The Sharjah Media City has a mission of making creative entrepreneurship possible for all small and medium businesses, and you will be able to develop your undertaking on a local and global scale.
- Take advantage of smart innovative services offered by the zone.
- You can get one license and engage in several types of activities.
- Shareholders are not required to be physically present in the country at the stage of company registration.
- The liability of the company members will be limited.
- You can return your capital or transfer your profits at any time.
- 100% foreign ownership is allowed.
- Benefit from zero corporate/personal income tax rate.
- Company registration is a straightforward process that will not require much effort.
- You can rent a shared desk to obtain up to six UAE visas.
- No threshold is set for the authorized capital.
- Sharjah and Dubai airports are located nearby.
SHAMS Company Registration
Limited Liability Company
An LLC is probably the most popular legal form in the world as it has a tangible advantage: the shareholders are not responsible for the company’s liabilities with their personal assets. The company’s assets belong to the company and cannot be owned by the shareholders.
Main advantages of LLC registration:
- You can obtain a license to carry out certain activities
- You can hire employees
- You are entitled to open a bank account in the UAE
- You can own assets as a company
- You can carry out international business activity
A branch is a unit that belongs to a parent company, and all its profits and assets are owned by a parent company as well. All the expenses and liabilities are the responsibility of the parent company. The branch gives the same advantages as an LLC.
Business Licenses Issued in Sharjah Media City
A business license is a document that allows the company to engage in a particular kind of activity. Let’s take a look at the main licenses issued in SHAMS.
If the main activity of your company is the provision of services, this is the license you will need to obtain. If you get a service license, you are entitled to render the services using any goods you may need for that purpose.
Get this license to sell goods within the free zone and import/export them. Under the trading license, you can transport goods, carry out retail and wholesale trade, and render the services connected with goods sale. The license will give you a customs code required to import or export the goods.
You will need to obtain this license if you produce, transform, or manufacture any products.
Under this license, you can be the owner of assets/shares in other companies. It can also be used to control real estate, trademarks, shares, or patents that belong to another company.
Infrastructure Available to SHAMS Companies
The Sharjah Media City free zone provides rental services to help its customers meet the mandatory requirements of having an office. Let’s consider the desks or offices you can rent.
This is a common workspace rented by several like-minded entrepreneurs who need flexibility, a pleasant working environment, and a practical space that allows for solving different problems.
This desk is individual, and there are other desks around where people are engaged in creative business activities.
If you need a private environment at the lowest possible cost, you can share your office with another company.
If you need a space for yourself that can be locked, you will need to rent an individual (dedicated) office. These may vary in size from small ones with one desk only to larger ones.
If you need to boost brainwork and implementation of innovative technologies, use the creative blocks. They provide a special working environment that may be a separate office, a public area, a showroom, or an office studio.
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