Hamriyah Free Zone was established in 1995 in the Emirate of Sharjah, which is the only emirate offering access to the eastern and western coasts of the Indian Ocean. Opening companies in Hamriyah can have many advantages, as the Hamriyah Free Zone Authority (HFZA) offers numerous incentives to foreign investors, among which land can be leased for investment purposes and many tax exemptions.
Our company registration agents in Dubai can offer more information about the incentives available when opening a company in Hamriyah Free Zone.
Types of companies available for registration in Hamriyah Free Zone
Foreign enterprisers can set up free zone establishments (FZE) and free zone companies (FZC) in Hamriyah Free Zone. Foreign companies are allowed to establish branch offices in this free zone. The main differences between the two types of companies that can be established in Hamriyah Free Zone reside in:
- the FZE will have only one shareholder, while the FZC may have up to 5 shareholders;
- one needs a minimum share capital of 150,000 AED in order to set up a FZE.
Both types of companies must have at least 2 managers or directors and a secretary. Also, at least a director and the secretary must be UAE residents. However, the HFZA allows one of the directors to act as a secretary for the company in the Hamriyah Free Zone.
Documents required to open a company in Hamriyah Free Zone
Foreign investors or companies starting businesses in Hamriyah Free Zone must file the following documents with the HFZA:
- passport copy, if the owner is a natural person;
- certificate of incorporation copies and certificate of good standing, if the owner is a corporate entity;
- a bank statement, if the owner is a natural person;
- the company’s Memorandum and Articles of Association, where the owner is another company, as well as a bank statement confirming the company’s good financial status;
- a letter confirming the appointment of the company’s representatives.
Companies registered in Hamriyah Free Zone have the possibility of applying for one of the following business licenses:
- commercial or trading license;
- industrial license;
- service license.
For assistance in opening a company in Hamriyah Free Zone, please feel free to contact our company formation representatives in Dubai.