Are you novel longing to embark on your entrepreneurial journey this year? It is quite challenging to kick off your business journey, without acquainting yourself with the best zone to embrace. And, Sharjah Free Zone is here to provide you with end-to-end solutions for your business. Therefore, starting a company in Sharjah Free Zone is a big plus because it might help you with your business setup in Dubai. Additionally, Sharjah can help you sustain and grow your business to the next level.
The procedure for setting up a company in Sharjah Free Zone can be overwhelming, especially when conforming to the wrong procedures. Therefore, as a productive investor, first, you have to understand the nature of your business and decide on the appropriate zone for your company. Craft a business plan, select an ideal brand name, open financial accounts, and apply for licensing among others.
In the same vein, this zone attracts a lot of tourists and investors globally. It is the 3rd biggest emirate of the UAE and the only zone to be included in the Persian Gulf and the land on the Gulf of Oman. As a result, Sharjah has established a strong industrial base for the UAE and is deemed as the shipping sector in the entire United Arabs Emirates. Having this in mind, the UAE government has tried its best to bring several foreign investors to start their business in Sharjah Free Zone.
How to Conduct Your Free Zone Business?
To mention; this is the best zone that gives room for future medium and small-sized businesses to be able to pop out through the competition. And, so, there are different zones within Sharjah you can decide to conduct your business. These zones include;
- Sharjah Research Technology and Innovation Park (SRTI) Free Zone
- Hamriyah Free Zone
- Sharjah Media City Free Zone
- Sharjah Airport International Free (SAIF) Zone
- The U.S.A. Regional Trade Center (USARTC) Free Zone
- Sharjah Publishing City Free Zone
On top of that, every zone in the UAE marketplace has different jurisdiction that governs its entire business endeavor in town. Sharjah is not exceptional. In fact, there are also various types of licensing you’d want to apply depending on the nature of your business. That means; you cannot start a company in Sharjah Free Zone without a trading license.
So, to acquire a Sharjah Free Zone trading license, you ought to decide on the nature of your business. Thus, based on the type of your business, you can opt for different types of licenses in Sharjah.
Types of Licenses in Sharjah Free Zone
1. Commercial License
Generally, this type of license in Sharjah is issued out to companies involved in buying or selling goods or trading. Therefore, if your business activities will fall under a commercial type of business, it is needless to say, you’ll have to apply for a commercial license. Some of the examples of commercial activities might include real estate services, logistics, and car rental among others.
2. Professional License
If you are into business setup consultant in Dubai, then a professional type of license might be a good fit for your business. Meaning, a professional license is majorly offered to businesses providing services such as craftsmen, artisans, or professionals. Aside from that, other activities might include auditing, management consultancy, medical services, law firms, educational institutions, and accounting companies.
3. Trading License
For you to obtain a trading license, you ought to have an office in the country. So, a trading license is typically issued out to businesses involved in manufacturing and industrial activities. If your business activities fall under the manufacturing of food products, furniture manufacturing, metal casting, and packaging, then you need to apply for this type of license.
Licensing is a must-have in several businesses. However, the big question is how to start a company in Sharjah Free Zone this year? If you are looking to dive into this field for your entrepreneurial journey, we got covered it.
Let’s get started;
How to Start a Company in Sharjah Free Zone this year
The procedure to start a company in Sharjah Free Zone can be simple, easy, and smooth if you follow the right plan. Research and planning are the major things to consider before you enroll in any type of business. Other than that, below are the steps on how to set up a company in Sharjah Free Zone;
Understand the Nature of your Business
This ought to be your first step in any type of company formation in Dubai. You need to understand the nature of your business. What will you be trading, or the specific products your business will be involved in?
When you come to terms with the nature of business you’ll be handling, it will help you decide on the appropriate free zone to settle in. There are different zones you can select but are primarily geared towards the nature of your business. Therefore, you’ll be free to choose Sharjah Free Zone, Mainland, or Offshore company setup in UAE.
Craft a business plan
The nature of your business will essentially help you to come up with a constructive business plan for your company. Generally, a business plan will serve as a blueprint to what will be included and factors to consider when setting up your business in Dubai.
For instance, you’ll be compelled to check on the level of competition, the future, and existing market trends, the number of workers to recruit and the budget for the business as well. Most companies fail due to poor or sketchy plan that doesn’t nail everything for their business success. Nonetheless, always strive to create a comprehensive business plan that incorporates every intricacy of your business.
Select an Ideal Brand Name
Brand name or the company name is another step you need not forfeit when starting your business. Your customers will want to feature you with your brand name. Therefore, when structuring a business name, there are certain specifications you need to uphold. For instance, a brand name must resonate with the type of business you are doing, it must be simple and easy to remember.
Additionally, select a brand name that is unique and has never been used to avoid copyright issues. When you are flexible with the brand name, advance to the next step.
Starting a business in Sharjah you need to have a valid business license to trade more in your field. Thus, in this zone, there are different types of licenses you can opt for depending on the nature of your business. That means; if you are into commercial activities, a commercial license will befit your business. Similarly, a management consultancy or law firm must apply for a professional license and more.
The UAE government demands you have an authentic business license. This indicates your approval to engage in the UAE marketplace.
Open Financial Accounts
When you have multiple businesses in Dubai, opening a bank account will help you secure your money and profit more proactively. There are different financial institutions you can subscribe to in UAE. Nonetheless, in case you are clueless about the processes of opening bank accounts, you can seek help from experts’ business setup consultants in Dubai.
Generally, a bank account accords your company a professional look and trust to your clients.
Setting up a company in Sharjah Free Zone comes with lots of benefits such as 24-hours licensing services, tax exemption, low-cost and abundant supply of energy, 100% foreign ownership, and easy accessibility to Sharjah International Airport and other ports.
So, if you’re looking for a company set up in Sharjah, you’ll need to first understand the nature of your business, craft a business plan and select a good brand name that resonates with your business. These steps will ultimately help you to start your business in Sharjah in one week.