Never been a better time to set up your business in UAE.
The UAE is one of the most happening and business-friendly hubs across the globe that has attracted businesses and enterprises to start their businesses and ventures in this beautiful country. The UAE government encourages global entrepreneurs and start-ups to start their businesses in the country by offering some unparalleled advantages and lucrative offers.
One of the great initiatives taken by the UAE government to promote business setup in the country is the Freezone called Sharjah Media City, famously known as Shams. Whether you want to start a new business or you are an owner of an established business and want a global exposure for your business, the UAE is a country you need to be in. Some of the amusing reasons to start your venture in UAE are ease of doing business environment, unparalleled infrastructure and superlative facilities and friendly business policies and conditions for entrepreneurs and enterprises.
Let's discuss some of the highlights of the Freezone- Shams that will lure you to start your venture in the UAE.
100% foreign ownership allowed
Unlike other countries where you need to have at least one local partner to start a business, you can have 100% ownership in Shams. You don't need to tie up with any local players to start your business in the UAE. You can be the sole owner of your business and practice it without any hindrances and issues.
0% corporate and personal income tax
Another rewarding reason to start your business in the UAE is that there is no corporate or personal tax applied in Shams.
Simple registration process
When you have made up your mind to start your business in the Shams, there is very less paperwork involved compared to other countries where you have to witness a long and lengthy bureaucratic processes and procedures. It is not the case with Shams. All you need to do is to visit the official website of shams and share your details and it will get started.
Simple company formation
You can be a part of the thriving economy of the UAE by simply forming a company there either by forming a Shams LLC or a Shams branch. Shame LLC is a limited liability company with an independent entity and a Shams branch is a branch of a parent company. The process is flawless and simple and does not take much time to complete.
Currently, Shams offers a shared desk facility for the entrepreneurs and businesses, but they are ready to provide a dedicated desk facility, a dedicated office facility and a shared office facility very soon. All four facilities accompanied with WiFi access, printer and a meeting room. You can choose any working facility as per your business needs and requirements.
Different business licenses
There are a total of three types of business licenses issued to the companies- service license, trading license and industrial license. The service license allows production, reproduction and distribution of services. The trading license allows selling goods within Shams and importing and exporting goods. The industrial license allows manufacturing, production, reproduction and transformation of goods.
Choose a business activity from more than 120 activities
Yes, business activities offered by Shams cover almost all the activities that you want to practice here. You can choose from 120 business activities that suit you and your business. There is a total of three categories- Media, Wholesale & Retail and Services & Consultancy.
The UAE government launched Sharjah Media City (Shams) in January 2017 to promote and thrive creative and media businesses and aim to offer a place where entrepreneurs and businesses can offer world-class innovative facilities and services in the area of media and other business verticals.