Sharjah Mainland Business License

Business Setup in Sharjah Mainland

Sharjah mainland has become one of the strategic locations to do business when it comes to the middle east. The city is a hub for different service, trade, and manufacturing sector related companies, all of which supports the company’s economy and drive maximum support from the government. Radiantbiz offers you the flexibility of business setup in Sharjah Mainland. Our team provides the combined resources necessary to deliver ongoing support in company formation, licence renewal, visa services, and much more.

Benefits of Business Setup in Sharjah Mainland

Looking for a perfect spot to start your business in the UAE? Sharjah is your answer. Although Dubai often steals the spotlight, Sharjah is not far behind, and for good reasons. It's perfectly placed with easy trips to the International Airport and quick links to ports on both sides of the Arabian Gulf. This special spot opens up countless opportunities and visibility for businesses, directly connecting them to North Africa and the Indian Ocean.

But there's more to Sharjah than just its prime location. It's known as one of the safest cities worldwide, boasting a very low crime rate. For businesses, this means a stable and secure environment. The costs involved in setting up and running a business here are competitive, from the fees to the rent for properties. Plus, Sharjah is home to a pool of talented and skilled professionals ready to join and enhance your venture.

In short, Sharjah offers a unique blend of strategic location, safety, cost-effectiveness, and skilled labor, making it an attractive place for business owners looking to make their mark in the UAE.

How Can I Start a Business in Sharjah?

Setting up a business in Sharjah is straightforward, but dealing with the legal paperwork can be a bit tricky, especially if you're not familiar with the UAE's legal system. That's why getting help from a consultancy firm, like RadiantBiz Consultancy, can be very beneficial. They are experts in setting up businesses in the UAE and can make the process smooth and hassle-free.

Steps for Setting Up a Business in Sharjah Mainland: Sign Important Documents:

First, sign a Memorandum of Association (MOA) and your company's lease agreement. Both documents need to be notarized. The MOA is an agreement to work together, and the lease agreement is for your office space.

Gather Required Documents:

Collect all necessary documents for your business setup. The documents required can vary based on your business activity.

Pay for Your Trade License:

You need to pay fees for a trade license. Sharjah offers three types of business licenses:

• Industrial License
• Commercial License
• Professional License

Choose a Business Name:

Submit three unique business name options. Avoid any names that are obscene, indecent, or use religious terminology.

Apply for an Establishment Card:

This card, issued by the Immigration Authority, contains your company's information. There's a fee for this card.

Get Ministry of Labor Approval:

For hiring employees, you'll need an Entry Visa and work permit from the Ministry of Labor.

Visa Stamping:

The next step is to get a valid visa stamped in the passport. This is typically done in the UAE by a local sponsor or partner.

Determine Business Activity:

Decide on the type of business you'll conduct, which will help determine the needed license.

Find a Local Sponsor:

Foreign investors need a local sponsor, a UAE National, who will own 51% of the company.

Submit Forms to DED:

Submit all necessary forms and your company registration to the Department of Economic Development (DED).

File License:

File your trade license with the DED.

Register Trade Name:

Once you've chosen a trade name, register it with the DED, which can be done online.

Obtain Municipality Approval:

Depending on your business, you may need additional approvals. After paying fees and submitting documents, you'll receive your business license.

Following these steps can make setting up your business in Sharjah a lot easier, especially with expert help from a consultancy like RadiantBiz.

Business Licenses for Business Setup in Sharjah Mainland

Setting up a business in Sharjah Mainland involves getting a business license from the Sharjah Economic Department. Once you decide what your business will do, you need to choose the right license. Sharjah offers three types of licenses:

Industrial License:

This is for businesses involved in making things. If your company will manufacture, process, package, assemble, or fabricate products, you'll need this license.

Commercial License:

If your business is going to sell goods or services, including importing, exporting, trading, or e-commerce, then you should apply for a commercial license.

Professional License:

This license is for individual business owners who offer their expertise as a service, like consultants, event managers, or investment advisors.

Choose the license that matches your business activity to ensure you're operating legally in Sharjah Mainland.

Documents Required for Company Registration in Sharjah

When you're ready to start a business in Sharjah, you'll need to gather and submit several important documents as part of your application for a business license. It's crucial to get these documents right to ensure a smooth setup process. Here's a simplified list of what you'll need:

Business Registration Application:

This is your official request to start a business in Sharjah.

Business Plan:

A detailed plan of your business, including how you plan to operate and succeed.

Memorandum of Association (MoA) and Articles of Association (AoA):

Legal documents that outline the framework and rules of your company. These need to be officially attested and notarized.

Passport Copies:

You'll need copies of passports for all the partners and managers involved in your business.

Power of Attorney:

If someone is acting on your behalf, you'll need to provide this document.

Bank Reference Letters:

These may be required and are typically for companies with previous banking history.

Board Resolution:

If your company is foreign, you'll need a resolution from your board authorizing the setup of a branch in Sharjah.

Lease Agreement:

Proof of your business's physical address in Sharjah.

Feasibility Report:

A report that shows your business project is viable and has potential for success.

Getting help from a business setup service in Sharjah can make preparing these documents easier, ensuring you have all you need for a successful application.

Compliance Requirements in Sharjah Mainland

Businesses in Sharjah mainland need to follow certain rules to operate legally. These include the Ultimate Beneficial Ownership (UBO), Economic Substance Regulations (ESR), and Anti-Money Laundering and Combating Financing of Terrorism (AML-CFT) laws. Even companies that are closing down, or liquidating, must follow these rules. If a company does not follow these regulations, it could face serious consequences like large fines, damage to its reputation, and possibly losing its trade license. To avoid these problems and ensure that they meet all legal requirements, business owners can seek help from business setup consultants in Sharjah who are experts in ESR, UBO, and AML-CFT laws.

Starting Business in Sharjah Mainland offers several advantages:

No Corporate or Income Tax :

Businesses enjoy full exemption from corporate and personal income taxes.

100% Tax-Free on Trade :

There's no tax on importing, exporting, or commercial activities, making it cost-effective for businesses.

Affordable Rent :

The cost of renting space for your business is relatively low.

Investment Security :

Your investments are protected, providing peace of mind.

Easy Banking :

Opening a bank account in the UAE is straightforward for businesses.

Warehousing Benefits :

You can store goods in warehousing facilities for up to two months, which is great for inventory management.

Government Incentives :

Investors receive support and incentives from the government.

Strategic Location :

Sharjah's location is ideal for businesses looking to reach both regional and international markets.

These benefits make Sharjah Mainland an attractive location for business setup.

What are the Business Entity Types in Sharjah?

The variety of business systems to choose from is another important step in starting a business in Sharjah. Here are the types of business setups allowed in Sharjah:

Limited Liability Company:

This is the most popular business structure for investors in Sharjah. In this type of business, the number of partners must be at least 2 and not more than 50. The partners' liability is limited to their investment in the firm.

Limited partnership:

A partnership between two or more individuals. Partners are liable for the debts of the firm in proportion to their share.

Local Service Agent:

An individual company managed by one person. If the owner is not a UAE or GCC national, there must be a local service person who is a UAE national.

Public/Private Stock Company:

This business system is governed by shares. A public joint stock company has its share capital divided into tradable shares of equal value. A private stock company is formed by at least three people. This type of business cannot publicly solicit subscriptions for shares.

It is important to choose which of these business systems best suits your business goals and resources.