A Sharjah Publishing City (SPC) is one of the newest free zones in the Sharjah emirate. Establish a company in SPC free zone is a trouble-free procedure because the smooth company setup procedure and the in-house migration availability speed up visa processing for the business people. If you are a new business person and looking for an SPC company setup, and wish to know the entire procedure, then Start Any Business UAE experts are able to provide you guidance on procedure and make it efficient, and faster.
The SPC can’t undertake activities of the business related to banking, insurance, and investment activities and is now permitted to issue public stakes, negotiable warrants, or debentures. Neither incorporation of a company, enhance of its stake capital, nor borrowing for its account can be done by underwriting stakes in public. As well, no transferable bonds or stakes can be issued thereto. The owner stakeholder of the share capital of the company should differentiate between their personal finance and the share capital.
Process of SPC Company Setup
1) Company Name
The investor or sole proprietor who wishes to start an SPC should choose a company name for the legal entity that is not identical like any other registered legal entity. There are some rules and regulations to be followed while naming the SPC company which are according to the laws.
2) Application Form
The company registration application form should be obtained and filled with all the personal, professional, business information in respect of an individual or corporate body interested in starting an SPC company. The properly filled application form with the details of the type of business operation, proof of capital, the nationality of the investor, educational qualification of the investor should be submitted to the Ministry of Industry, Commerce, and Tourism.
3) Articles of Association
The Article of Association is a very crucial document in the registration of an SPC company. The Article of Association governs all the rules and regulations about the operations of the company in the country. When this document is ready it should be submitted to the Ministry of and acceptance should be obtained duly signed by a notary and a copy should be submitted online.
4) Commercial Registration
The commercial registration certificate should be obtained for the SPC because it permits the company to conduct its commercial business operations in the Kingdom. Also, to complete the needs of the Ministry and ownership norms, the applicant has to pass some criteria.
- 18 years of age or older, while some occupational functions require at least 21 years of age
- No criminal record
- Sane mental health
- Possess a passport with validity for at least two years.
Document Required For SPC Company Setup
The documents required for setting up an SPC company are given below:
- Copy of parent company’s commercial registration certificate
- CPR copy of Director
- Copy of the passport
- Copy of parent company’s Memorandum of Association, Article of Association, and amendments for foreign-registered companies
- Copy of visa pages of manager
- An original bank reference and CV
- Original educational qualification and experience letter
- General community solution or board of directors as the single owner of the SPC
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Advantages of Setting up an SPC Company
Here are some benefits that will delight you when you set up a SPC free zone company:
- Liberal bank account opening and maintenance
- Bank accounts that support multiple currencies
- Allowing complete repatriation of investment and profits
- Ideal for any types of international business
- Quick inclusion in 2-3 working days
- No national or local aid needed
- No office space required
How We Can Help You
Start Any Business UAE is a leading business setup consultancy that helps businessmen in setting up an SPC company through company registration, incorporation, and legal consulting services. Our qualified professionals take care of the banking, legal, visa, and licensing services, according to the UAE laws. We are able to make your company setup process easy and successful.
We at Start Any Business UAE provide many innovative and path-breaking business services to entrepreneurs, investors, and business leaders. If you are interested then contact us, we would be happy to assist you.