Sharjah Media City (Shams) launched in February 2017 to develop an integrated media industry and attract foreign direct investment (FDI). The new free zone is tailored to the UAE’s growing media sector; Shams is an emirate-level free zone in the emirate of Sharjah, United Arab Emirates. The free zone serves to attract media companies to set up their businesses in the emirate and to benefit from the incentives provided by Shams, such as 100% foreign ownership and zero taxes for 50 years. That’s why SHAMS Company Setup becomes so popular among investors.
Advantage of a company in Sharjah Media City
The government has put several incentives for businesses that choose to set up in the UAE to attract more foreign companies. Free Zones are areas where there is no tax or customs duty.The UAE also has an established rule of law and a stable political climate, attracting business owners who want to avoid the risks of instability found in other parts of the world. The UAE also offers:
- Complete foreign ownership
- No restrictions on currency exchange
- No import or export duties
- An independent judicial system
- Access to skilled labour
- 100% customs duty exemptions on raw materials, equipment and machinery
- Easy incorporation process, no need for sponsorships
- No currency restrictions
- A range of licensing options, including consultancy and services businesses
Documents Required for Company Setup in SHAMS
This checklist will help you understand what documents are required for SHAMS Company Setup. It is important to note that all documents must be apostilled or attested by the UAE embassy. Additionally, they must submit in English or Arabic with an official translation if not in one of these languages.
- Firstly, Certificate of good standing
- Board resolution to establish a new company
- Passport and visa of director
- Certificate of Incorporation
- Board resolution giving signatory authorization
- Valid trade license
Types of Business License in SHAMS
Firstly, this type of license offered to companies that manufacture their products or those that offer services to other companies or individuals. Examples include clothing, food, electronics, and other related industries. The company can set up more than one branch within Sharjah Media City.
This allows you to provide services in Sharjah and the rest of the UAE. Also, Activities that fall under this category include marketing, advertising, public relations, and event management.
The holding license allows an investor to own more than one trade license under one company. This type of license allows an investor to engage in two or more activities. Most importantly, a holding license holder can granted a media service provider license, a media production house license.
Lastly, this type of license allows you to carry out business activities related to trading in Sharjah Media City. It does not permit the importation of goods or services from overseas.
Process of SHAMS Company Setup
Selecting the business name and trade activity
The first step in starting your business is to decide on a name for your company and the activity. The selected name should be unique and different from other companies in the same industry. Also, you can search for your desired business names on the website of the Department of Economic Development in Sharjah. Thus, you have to pick a name that is not already taken by someone else. And it should be related to the trade activity you have chosen.
Prepare your documents
When you are ready with your business plan, you need to prepare all the documents needed for the registration procedure. So, once these documents are ready, you can start with the registration process online or directly at office.
Consult an expert
SHAMS are an excellent option for anyone looking to set up their free zone company in Dubai. SHAMS Company Setup can be difficult, so you need to get in touch with experts like Start Any Business UAE. We will provide you with all of the information you need, and we can make sure that your business is set up properly. There are several reasons you should work with us. And we would love to help you out once you get in touch with us. We will work hard on your behalf so that your company gets set up quickly and easily.
We have been helping businesses with their incorporation and formation needs for a long time. With our expertise and experience, we have delivered many satisfying services for Hamriyah Company Setup to our clients. We aim to provide easy and simple solutions to your business needs. Our highly experienced consultants will guide you through every step of the way. Also, starting from the incorporation of your business and all the way to tax planning and financial management.
Source : alltrendyblog