With a prime spot in the Middle East, cost-effective real estate, business-friendly rules, and advanced infrastructure and facilities, Sharjah is the favored spot for business owners. Sharjah is home to several corporations in the UAE. Large businesses have set up here from scrape, or many businesses have grown in this spot in provincial hubs. Company formation in Sharjah Media City is something you should research.
Sharjah is developing with economic extension and is one of the very lucrative industrial spots that get overseas acquisitions. The Sharjah Government comprehends the remarkable of trade, service, and manufacturing industries in supporting the economy of the country, and has hence developed policies that increase overseas acquisition.
Adaptable government concepts have played a vital part in getting the trust of international investors, and have majorly dedicated to the steady and constant economic group of the emirate. Further, the business development movement in Sharjah stays precise because this has always sustained world economic relations and familiar trading links with several countries throughout the globe. Here we discuss a more in-depth business setup in Sharjah.
The Process of Company Formation in Sharjah
- Decide the Business Type – In order to start your company formation in Sharjah Media City, you should decide the kind of business and plan to begin and the jurisdiction in which you would run. It is essential to protect the ownership of the company in the future.
- Business Registration with DED – After deciding on the framework and local partner, this is also needed to register your business or corporation with the Economic Department of the Emirate; The application can be found on the Sharjah Chambers of Commerce Website.
- Application for a Business License – The next phase for company formation in Sharjah is to make an application for the right business license depending on the kind of business nature you wish to conduct. Trade, industrial, and professional licenses are the three kinds of licenses that are obtainable here.
- Register the Business Name – Once you have made the application for a business license now you should register the name of your corporation. The name has to be different to the public and different from all other similar kinds of businesses. Municipality permission is needed after all above the moves have been done.
- Draft a Memorandum of Association – The candidate should present all the essential papers to draft this. Once it has been done, the documents should be authenticated by the right official.
- Lease Agreement – As per the government of Sharjah, lease contracts make ventures to draft Sharjah tenants and to hold a physical working area in Sharjah.
- Payment of the License Fee – After you have made the decision on the business license, you will have to make the payment of the license charge. Moreover, the company should provide its support for the name board. This gets the business setup in Sharjah procedure to a culmination.
Documents required for Company Formation in Sharjah
In order to company formation in Sharjah, you would require to comply with the documents that are –
- Application form for company registration
- Business card of the individual
- Business plan
- Memorandum of Association that is authenticated and verified.
- Copies of the passports of the managers and partners of the corporation.
- Original bank reference letter
- A lease agreement
- Bank statements of the parent company
- Resolution of the overseas parent corporation’s board of directors.
- Preliminary analysis for the assignment that would be executed.
Reasons to Choose for Company Formation in Sharjah
Sharjah is one of the securest cities across the globe with a light rate of associate degrees and has several affordable energy proposals. The economy is liberal with reasonable cost frameworks and property lease rates.
There’s also an existence of exceptionally skilled and competent men that is principally multilingual and economical. Besides this, there are some reasons to choose for business setup in Sharjah.
- The pro-business nature of Sharjah recognizes the significance of service, business, and manufacturing industries in contributing to the economy of the country and has hence developed policies that inspire overseas acquisition.
- The emirate is a thriving economy and is one in every major lucrative spot that appeals to overseas acquisition.
- The trend of business expansion in Sharjah remains positive as it highlights maintaining global economic relations and friendly commercial rapports with a colossal type of countries throughout the world.
- Sharjah has a scheme for deposit amenities wherever businessmen would gather products for over 2 months without cost.
- Existence of different born and international banks, and advanced interaction systems.