Top Reasons for Company Setup in Sharjah in 2024

1. Top Reasons for Company Setup in Sharjah in 2024 Sharjah is one of the seven parts of the UAE (United Arab Emirates) that has been known for its trade, culture, and education for a long time. Now it is emerging as a top place to start a business. If you are also looking for opportunities to start your business in Sharjah as a fresher, this post will guide you with all the necessary information that you need to know for a company formation in Sharjah.

2. Top Reasons to Start a Business in Sharjah Sharjah offers great opportunities to start businesses in areas like real estate, e-commerce, consulting, healthcare, restaurants, IT solutions, and more. Here are the top benefits that you get from starting a business in Sharjah. A simple process of company formation in Sharjah The process of forming a company in Sharjah is very easy and hassle-free. Consulting a business setup company that is operating there can make it easier to start your business without any delays. These consultancy companies provide their clients with the best advice and information.

3. 100% business ownership Usually, if you start a mainland business, it is necessary to sponsor a local partner who will own 51% of your business and you will get 49% ownership. However, there are certain business sectors in Sharjah where you get 100% ownership even if you start a mainland business. Various free zones In Sharjah, there are specific zones called free zones where investors can set up their businesses without many restrictions. If you get a license for a Sharjah-free zone, you can enjoy full ownership of your business, pay fewer taxes, and choose from different types of licenses. No limitations on business activities and visas In Sharjah, you can start any business without restrictions. Investors and entrepreneurs are free to engage in more than one business activity which is not always possible elsewhere. You can hire employees for your company from different countries because you can get unlimited visas. Simple currency regulations In some emirates of the UAE, there are laws that make it difficult to use certain currencies for business. But in Sharjah, there are no such restrictions and investors can easily handle their financial transactions without any hassle.

4. No mandatory audits Setting up a company in Sharjah is not very difficult in terms of legal activities. So you can save your time and resources to focus on growing your business and running smoothly in the Emirate. Start your business at reasonable prices Another reason to start a business in the Sharjah Emirate is that you can start your business at a reasonable price. The city has affordable office spaces, employees, and other necessities that you need to run a business. This is one of the top reasons why foreigners are attracted to start their businesses in Sharjah. Business Entities in Sharjah Understanding the types of different entities is important to start a business in Sharjah. Sole partnership The owner of sole partnership businesses is only one person. Public and private shareholding companies These types of companies are often chosen for big projects such as infrastructure development, industrial projects, etc. Public shareholding companies are free to sell shares to anyone but private ones only can sell their shares to specific people or groups, not to the general public. Limited liability company A limited liability company is the most common entity in the UAE.

5. Shareholders are only responsible for the capital they use in investment in situations when something goes wrong. Partnership In this type of business, 2 or more than 2 people run the business. Branch offices Foreign companies can open a branch of their business in Sharjah. Documents Required for Company Setup in Sharjah Opening a business in Sharjah requires some documents to be submitted. But the requirement of these documents depends on your business type. However, here is the list of general documents that are required for starting any kind of business. 1.Photocopy of visa and passport 2.All stockholders’ passport copies 3.Copy of the certified leasing contract license form 4.The bank statement of the company’s bank account 5.Legal approvals, if necessary 6.Trade name certificate How to Form a Company in Sharjah?

6. Forming a company in Sharjah is very simple. You just need to follow some easy steps mentioned below: Choose a business name Choose a special name for your business that no one else is already using in there. You can check if there is any company in Sharjah operating with the same name from the Department of Economic Development. Choose a business location Finding the location for your business is important. Setting up a business in a free zone and the mainland has its own advantages. So you can choose the one which fits the best with your business. Register your business and obtain a trade license Submit your paperwork to DED (Department of Economic Development) or local free zone authorities. They will check your paperwork and then approve you with your trade license. Open a corporate bank account To manage your financial transactions related to your business, opening a corporate bank account is necessary in Sharjah. Office space and premises Having a workplace where you can run your business activities smoothly is important. For it, you need to make sure that there are specific requirements available in your workplace required for your business.

7. Visa and employee registration Once you have set up your business, you can then get visas for your employees so that you can follow the work rules of the UAE properly. Sharjah is a great place to start a business because it has good opportunities for growth. It is the best location that has modern facilities for businesses. But along with all these opportunities having a good business vision is very important for growing any business. Dubai company setup also shares similarity to the Sharjah company setup. You can check the requirements if you want to form a company in Dubai. Also Read: Dubai’s Business Landscape: Exploring Opportunities and Challenges for Entrepreneurs