Sharjah is among the most developed Emirates in the UAE, the trading activities conducted there accounting for more than 45% of the country’s Gross Domestic Product. Being the only Emirate with access to ports in the Arabian Gulf’s eastern and western coasts, access to the Indian Ocean and direct connections to North Africa, Sharjah offers great opportunities for foreign investors. Foreign businessmen have the possibility of opening various types of companies in Sharjah, among which limited liability companies, joint stock companies, branch offices and subsidiaries. Foreign citizens may also set up sole proprietorships.
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What are the requirements for opening a company in Sharjah?
In order to register a company in Sharjah, foreign investors must meet certain requirements. Foreign businessmen may open a company in Sharjah if 51% of the company is owned by a UAE national. However, full foreign ownership is allowed in the free zones. Foreign companies may also open branches in Sharjah. Depending on the type of company, the following types of licenses are required when registering a business in Sharjah:
- commercial licenses,
- professional licenses,
- industrial licenses.
Our specialists in company formation in Dubai may help you with the licensing procedure when opening a company in Sharjah.
What are the steps to open a company in Sharjah?
Before starting operating in Sharjah, foreign investors are required to satisfy the legal requirements of the UAE Companies Law. The steps to register a company in Sharjah are:
- file a company registration application with the Department of Economic Development,
- draft the company’s memorandum of association,
- obtain the trade license,
- file for an establishment card with the Ministry of Labor,
- register employees with the Ministry of Labor.
Our experts in Dubai can draft the articles of association for company registration in Sharjah.
What are the advantages of setting up a company in Sharjah?
Sharjah provides an excellent environment for doing business and represents an alternative to company registration in Dubai with the same benefits. Companies in Sharjah benefit from zero corporate tax and no import and export taxes. The minimum requirements for opening a company in Sharjah are appointing one shareholder and one director. Among the attractions of Sharjah, there is the Hamriyah Free Zone which provides many facilities to foreign investors.
For details about company formation in Sharjah, please contact our Dubai agents.