News & Articles
A Comprehensive Guide: Shams FreeZone Business Setup
Sharjah is one of the most popular locations for business setup, especially for startups. It is also the cultural capital of the UAE, hence it is the perfect place to offer an environment that is rich in culture and arts. As an official partner with most of the Sharjah Free Zone licensing authorities, Choose UAE highly recommends Sharjah Media City – SHAMS FreeZone as one, if not the best, low-cost business setup option in the UAE.
Among the well-established free zones in the UAE, Sharjah Media City (SHAMS) FreeZone is relatively new. The free zone is located in Sharjah, which is the closest Emirate to Dubai. The free zone is known for offering new ways of business setup in the UAE. These methods can be briefly listed as:
- Shares desk (Flexi-desk)
- Dedicated desk
- Shared office
- Dedicated office
Unlike some other free zones, the Flexi-desk option is not considered a trivial option in the offered packages by the emirate. It is recommended to be used for facilitating the bank account opening procedure in the UAE.
Types of Business Activities Covered by SHAMS FreeZone
Although the free zone is mainly established for promoting business activities affiliated with media, it is not the sole business activity that can be run in SHAMS. There are a good variety of business activities that can be covered in SHAMS, which can be listed as follows:
- Professional services
- Holding and similar business types
- Social media promotions and activities
There are a total of 120 business activities that fall under these categories. While applying for the license, multiple business activities can be determined and combined under the same license. It is thus safe to say that almost all standard business activities can be conducted under the licenses issued by SHAMS authorities, the same as most other free zones in the UAE.
License Costs of SHAMS FreeZone
It is well-known that SHAMS is an affordable free zone and is mainly established for encouraging small and creative businesses to launch and take off their careers through SHAMS free zone’s fantastic facilities. The costs of business setups can be listed as follows:
- The fees start from AED 5,750 AED for a zero visa package,
- For setups and companies that need to obtain visas, renting a Flexi-desk at lease is mandatory.
Asking for more visas will increase the above costs accordingly if the company is eligible for more visas.
Company Formation Procedure in the SHAMS FreeZone
One of the core, innovative setup ideas since establishing SHAMS FreeZone was that all businesses could be operated remotely. This includes the entrepreneurs residing outside the UAE as well. Regardless of the entrepreneur’s residency status, their company can be established remotely within a week. The primary documents that should be provided are:
- Passport copy
- Phone number
The age restriction for entrepreneurs that can register a company or company shareholders is 19 years old. This unique age restriction is a rare opportunity provided by the SHAMS free zone, which remains a specific advantage of starting a business in SHAMS. All the issued documents shall be provided digitally and can be printed as legitimate documents.
There are several points to remember when setting up a company in SHAMS FreeZone:
Residency visa in SHAMS FreeZone: SHAMS is one of the most flexible free zones in the UAE in terms of visa allocation and issuance. One company alone can be eligible for obtaining six visas which is rare among the UAE free zones. Hamriyah free zone visa is another way of obtaining multiple visas in the SHAMS FreeZone. It is also worth mentioning that the selected business packages offered by SHAMS authorities can always be upgraded.
Once issued, the visas shall be valid for three years. It should be noted that for a resident visa under SHAMS Free Zone license, having health insurance or signing an undertaking letter that the applicants intend to apply for health insurance within the next ten months is mandatory.
Company renewal regulations in SHAMS: Company renewal can also be done totally remotely in the SHAMS free zone. The fees are the same as setting up costs. The authorities do not require audit reports. It should be noted that in case of delaying the renewal in time, monthly penalties shall accumulate.
Costs of amendments issued by the SHAMS authorities: For issuing the company or setting up amendments, no physical presence is required. Amendments of the license will be free during the renewal.
Company liquidation in the SHAMS FreeZone: The whole liquidation process takes around three weeks.
How Can Choose UAE Help
At Choose UAE, we provide a fast and efficient business setup for foreign investors and startups wanting to put up their business in SHAMS free zone. Our team of experts are dedicated in providing an optimal customer service experience, with a wide range of business support services to help you run your business– from Corporate Bank Account opening assistance, PRO services, Digital Marketing services, and many more.
As official partners of UAE Government Authorities, we have the lowest prices in the market with no license processing fees and no hidden charges. Contact us to schedule a free consultation today.