SHAMS Company Setup

Sharjah Media City (Shams) Free Zone, located in the vibrant Emirate of Sharjah, is a renowned and dynamic free zone in the UAE. Launched in January 2017, Shams aims to foster creative entrepreneurship and facilitate business growth. As a world-class media hub, it offers innovative facilities and services, attracting young entrepreneurs and SMEs from the UAE and beyond. Shams company setup requires no paid-up capital, and the visa costs are competitively priced, making it a highly desirable free zone. Shams also enables companies to open bank accounts with reputable banks across the UAE, further enhancing its appeal. Experience the benefits and opportunities of Shams Free Zone for your business.

Essential Licenses for Shams Company Setup

Shams Free Zone offers a broad spectrum of licenses to support different business activities and industries. Whether you’re in media, technology, creative services, or any other sector, Shams has the right license for you. Some of the licenses available include –

1. Trading License – Allows you to import, export, and trade various goods within the UAE and internationally.

2. Service License – This enables you to provide professional services such as consulting, marketing, advertising, IT, and more.

3. Freelancer Permit – Ideal for individuals offering freelance services in fields like design, writing, photography, and others.

4. Media License – Tailored for companies involved in media production, broadcasting, publishing, advertising, and related activities.

5. Industrial License – Suitable for businesses engaged in manufacturing, production, or assembly of products.

6. Holding License – Designed for holding companies to hold and manage investments, assets, and properties.

7. Educational License – Allows the establishment of educational and training institutions, including e-learning platforms.

Shams Free Zone offers a simplified and streamlined process for obtaining these licenses, making it easier for entrepreneurs and businesses to set up and operate.

Steps for Shams Company Setup

Business setup in Shams Free Zone involves several steps. Here is a general overview of the process –

1. Determine Business Activity – Identify the specific business activity you wish to undertake in Shams Free Zone. The free zone presents a broad array of business activities, so choose the one that aligns with your expertise and objectives.

2. Choose Company Type – Select the appropriate legal entity type for your company, such as a Free Zone Establishment (FZE) for a single shareholder or a Free Zone Company (FZCO) for multiple shareholders.

3. Name Reservation – Pick an uncommon name for your business and submit it for approval to the Shams authorities. Ensure that the name complies with the guidelines provided by the free zone.

4. Submit Application – Prepare and submit the Shams company setup application with the demanded papers. These typically include passport copies of shareholders and directors, business plans, bank reference letters, and any relevant educational or professional certificates.

5. Lease Agreement – Secure a physical office space within the Shams Free Zone. The free zone offers a variety of office alternatives to fit diverse business essentials. Sign a lease agreement and deliver the critical documentation.

6. License Issuance – Upon successful review and approval of your application, Shams will issue the commercial license and other relevant permits. The license will specify the authorized business activities.

7. Visa Application – If you require visas for yourself or your employees, submit the visa application along with critical documents, such as passport copies, photographs, and medical fitness certificates. Shams will facilitate the visa issuance process.

8. Bank Account Opening – Secure a corporate bank account with a respected bank in the UAE. Provide the necessary documents, including your company’s trade license, shareholder/director details, and KYC (Know Your Customer) requirements.

9. Company Registration – Complete the registration process by paying the applicable fees and obtaining the necessary certificates and documents from Shams Free Zone.

10. Initiate Functions – Once all the formalities are finished, you can initiate your business functions in Shams Free Zone.

Advantages of Shams Company Setup

There are several benefits to choosing a business setup in Shams, UAE. Here are some key advantages –

1. Strategic Location – Shams is strategically found in the Emirate of Sharjah, providing easy access to both local and international markets. It is near Dubai and other major business hubs in the UAE.

2. Business-Friendly Environment – Shams offers a business-friendly environment with simplified Shams company setup processes and efficient government services. The free zone is committed to supporting entrepreneurs and fostering business growth.

3. 100% Foreign Ownership – Shams allows 100% foreign ownership of companies, providing entrepreneurs with full control and flexibility in managing their businesses. There is no necessity for a local sponsor or partner.

4. Wide Range of Business Activities – Shams offers a diverse range of business activities and licenses, catering to various industries including media, technology, consulting, trading, education, and more. This permits companies to determine the activity that aligns with their expertise and objectives.

5. No Paid-Up Capital Requirement – Unlike some other free zones, Shams does not impose a minimum paid-up capital requirement for company formation. This makes it more accessible and cost-effective for startups and small businesses.

6. Competitive Visa Costs – Shams offers competitive visa costs, making it affordable for companies to obtain visas for their employees. This helps in attracting and retaining talent within the free zone.

7. Access to Support Services – Shams provides a range of support services including shared workspaces, networking events, business support, and access to a pool of creative and talented professionals. This facilitates collaboration and growth opportunities for businesses.

8. No Currency Restrictions – Shams allows companies to operate and transact in any currency without any restrictions, providing greater flexibility for international business operations.

Documents Required for Shams Company Setup

For a business setup in SHAMS Free Zone, you will need to prepare and provide the following documents –

1. Completed Application Form
2. Passport Copies of Shareholders, Directors, and Shareholders’ Representatives
3. Visa Page Copies (if applicable)
4. Colored Passport-sized Photographs
5. Business Plan
6. Memorandum of Association (MOA)
7. Bank Reference Letter
8. Educational Certificates (if applicable)
9. No Objection Certificate (NOC) from Employer (if applicable)
10. Lease Agreement Copy
11. Existing Trade License Copy (if applicable)
12. Share Capital Confirmation

Conclusion

A business setup in SHAMS Free Zone offers numerous benefits and opportunities for entrepreneurs and businesses. With a streamlined and efficient process, attractive visa costs, and the flexibility of not requiring paid-up capital, SHAMS provides an ideal platform for creative entrepreneurship and business growth. By providing innovative facilities and services, SHAMS aims to be a world-class media hub, attracting young entrepreneurs and SMEs from the UAE and around the globe. With the support of reputable banks and a range of business licenses available, SHAMS offers a facilitative atmosphere for enterprises to prosper and succeed.

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