Hamriyah Company Setupby Rohit Sharma Internet Marketer
The Hamriyah free zone was founded by an Emirati declaration issued on 12 November 1995. This free zone has converted the industrial center of Sharjah. Lots of business people want to establish their business here. If you are looking for a Hamriyah company setup but unable to do it by yourself then you need to get in touch with Start Any Business UAE consultants. They will provide you complete assistance during the entire procedure and make it easy, reliable, and obstacle-free. here we mentioned a few things related to setting up a business in Hamriyah that will help you to understand the vital needs.
Business people build a straightaway to establish a company in Hamriyah as this is named as a preferred zone for the purpose of VAT. Hamriyah free zone is confronted to provide ambitious purposes and iconic possibilities to establish a business in a tax-exempt term with full ownership of the company, exclusions from each business repatriation, and generous benefits and capital. The free zone covers about 22 million square meters of major commercial and industrial area and 14 meters of deep-water port with scope for development.
How to Start a Business in the Hamriyah Free Zone
The process to start a business in Hamriyah free zone is simple. You need to follow some steps that are mentioned below:
1. Choose Your Business Activity
The first thing you need to do is decide on your business activity. Choosing a business activity is a crucial step for establishing a company in Hamriyah free zone. The vital thing is your selected activities that you need to understand that that activity must be specified into the list of Department of Economic Development.
2. Choose the Company Name
The second step is you need to choose an appropriate name for your company that you need to established in Hamriyah free zone. There are some main things to remember at this stage – several that would not apply elsewhere in the globe. You need to stay aware that you have abode by a stringent set of protocols. In short, you have to avoid any offensive or blasphemous language. Make sure that the name you have chosen that not already use.
3. Making Your License Application
Applying for a business license is a very important step as it is very helpful to conduct business in Hamriyah and all over the UAE. There are different kinds of licenses you need to choose one from. If the activities of your business come under the industrial category, then you require to get an industrial license. If the activity falls into the commercial side it means you need to obtain a commercial license. Likely, if your company giving professional services then you require to get a professional license.
4. Making Your Visa Application
You also need to apply for a visa to job in the UAE. You can apply for a visa for your employees and for yourself, that is vital and simple. A business consultant can assist you in this procedure. The procedure comprises simple phases are – admission permission, testing for medical health, status adjustment, visa stamp, and emirates ID registration.
Documents required For Hamriyah company setup
The necessary documents that you need to prepare for the Hamriyah company setup are given below:
- Copies of valid passports of stakeholders and managers
- Copy of the certificate of incorporation of the parent company
- The Memorandum of Association of the parent company
- The Article of Association of the company
- A board resolution to start a subsidiary or branch in Hamriyah free zone, specifying the hired manager, director, and authorized signatory
- Photocopies of the visa of the managers and directors
Advantages of Hamriyah Company Setup
The benefits of the Hamriyah company setup that will delight you completely are:
- 100% ownership permitted for the overseas company
- 100% tax exemption on import and export
- 100% repatriation permitted on profits and capital
- 25 years contract available, renewable for an additional 25 years
- No corporate or personal income tax
- Strategic place to reach global markets
- Accessibility to the UAE and GCC markets
- Lucrative investment incentives
- Plentiful and economical energy
- Developed infrastructure
- Pleasing low-cost living facilities
- Low costs of labor
Above we mentioned some vital details of the company setup in Hamriyah. For more information, you can consult with the best business setup consultant at Start Any Business UAE.
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Created on Aug 19th 2021 02:12. Viewed 176 times.
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