Benefits of setting up business in Sharjah Media City free zone (SHAMS)

Sharjah Media City free zone

Sharjah being one of UAE’s largest emirate is an attractive trading hub for entrepreneurs across the world.  Businessmen from various countries are trying their best to have a business set up in Sharjah media city free zone.

Sharjah is considered to be UAE’s cultural capital which contributes more than 7.5% of the UAE’s Gross Domestic Product. What makes it the best emirates for business set up is that it is connected to various locations and countries through airways, roadways and seaports.

Foreigners are attracted to incorporate their businesses in Sharjah because of the low crime rate and an unbiased and fair judicial system. Entrepreneurs can either set up a mainland company or set up a company in the Free zone.

Free Zones of Sharjah

Sharjah has five free zones from which entrepreneurs can choose one to set up a successful business in the UAE. They are:

  1. SAIF Zone: Sharjah Airport International Free Zone
  2. HFZA: Hamriyah Free Zone
  3. SPZ FC: Sharjah Publishing City Free Zone
  4. USA RTC: USA Regional Trade Center
  5. SHAMS: Sharjah Media City

Sharjah Media City Free Zone (SHAMS)

SHAMS or the Sharjah Media City was established in the year 2017. The aim was to create a renowned hub for creativity and media. However, it not only caters to creative companies but also benefits freelancers and other businesses. 

Sharjah Media City free zone offers four different types of licenses for entrepreneurs to choose from.  They are:

  • Trading License

Businesses that involve wholesale and retail of goods, movement of goods and rendering services for the sale of goods require a trading license.

  • Industrial License

Businesses involved in manufacturing, transforming, reproducing and producing goods would require an industrial license.

  • Service License

A business whose primary objective is to provide services while using goods to provide those services would need a service license.

  • Holding License

To hold an asset or to own a stake in a company an entity would require a holding license.

Benefits of setting up a business in Sharjah Media City Free Zone (SHAMS)

If you are looking forward to setting up a business, there are many free zones to choose from among the 7 emirates of UAE. It might become difficult to decide which free zone to consider. 

Sharjah takes the lead here among the other emirates of the UAE. There are multiple benefits that a free zone set up in Sharjah would provide. Firstly, the company would not be required to pay any income tax, corporate tax, capital gains, withholding tax or import/export to the government.

Secondly, the geographical location of Sharjah would be a bonus point for the set-up. Sharjah free zone offers businesses complete repatriation of profits/ capital and full foreign ownership. Businesses that have set up in Sharjah’s free zone are given various subsidies and grants by its government.

Among the five free zones of Sharjah, SHAMS i.e, Sharjah Media City Free Zone is the most viable option for businesses. The following benefits prove why so:

  • SHAMS has flexible office options.

Sharjah Media City free zone lets entrepreneurs choose from flex-desk packages that allow them to utilize the latest business facilities when necessary. SHAMS is said to have great facilities including a community plaza, hotels, a residential boulevard, shops and restaurants which gives greater incentive to businesses.

  • It has an uncomplicated setup.

A common barrier for most entrepreneurs is the complicated set up of a company in most countries. Sharjah Media City free zone offers a straightforward setup that comprises just two steps. The uncomplicated setup makes it desirable for investors. All entrepreneurs have to do is meet the officials of the Sharjah Media City free zone with the required documents and sign the official memorandum. Once it is approved, they can submit the passport copies.

  • Businesses can perform a broad range of activities.

Last but least, in Sharjah Media City free zone you can perform a broad range of business activities. Whether it is a management consultancy, e-commerce company, or an event management company, SHAMS is open to all kinds of businesses. It is a retail hub. 

Moreover, business activities such as bookkeeping, plumbing, HR, wholesale, hospitality and publishing are also welcomed.

Conclusion

A free zone set up in the UAE can be very beneficial for a business, especially in the Sharjah Media City free zone. The process is not only cost effective but also less complicated than the other free zones. However, for a successful set up, a business would require acute planning and proper decision making.

Leave a Reply

Your email address will not be published.