How To Set Up a Business in Shams Free Zoneby Rohit Sharma Internet Marketer
SHAMS is a relatively new free zone that was founded in the year 2017. This had become a center for the creativity and media of the region, and since its founding, this has become famous in a brief period of time. If you are looking for a SHAMS company setup then it can be a very profitable decision as it provides a lot of facilities related to forming a company here. This free zone caters to other industries, but majorly the media and creative-based companies come to this free zone to establish a business.
SHAMS services have fixed a benchmark for business people with particular points for the media and creative industries. SHAMS is a world-class free zone especially created to support innovation. Sharjah Media City is a progressive enterprise that assures influential rapports with talented persons. The amenities in SHAMS lure entrepreneurs into giving services with a wider community-centric strategy. How to be, the free zone is administered by the UAE laws, this has legal independence on media and license regulations. SHAMS encourages entrepreneurial ability within the charitable community.
Conducting a business in the free zone needs a minimum share capital for all kinds of business entities located in SHAMS but this is also optional. If you prefer to have a share capital, then SHAMS would offer a bank letter for opening a bank account in the proposed business entity’s name.
Here are the steps for SHAMS company setup that you need to follow:
- The first step is to visit Sharjah Media City’s online portal and decide among the variety of business license choices available for the company. The options are industrial license, holding license, services license, and trading license.
- The next step is, you have to select your need of the office that you require. Will this be an office or a dedicated desk, or would it be a shared desk?
- The third and vital step for SHAMS company setup is, you require to submit all the necessary forms and documents which can be complete either on your own or with the help of a business setup consultant.
- The next step is, you need to make invoice payment, which would be increased by the SHAMS free zone. You can also pay for the consultants, and the consultant would pay on your behalf.
- The last step is to get your business license and begin to operate your business in Shams free zone.
By following the all steps above mentioned, an investor can establish their business easily in SHAMS. The Sharjah Media City would also offer you the choice wherein you would not require to block a huge amount for getting the business license.
Documents Required for SHAMS Company Setup
The necessary documents that you have to prepare for the process of SHAMS company setup, are given below:
- Incorporation certificate
- Passport copies of stakeholders
- Memorandum of Association and Article of Association
- Board resolution to set up a new company
- Board resolution to set up a new branch
- Certificate of good standing
- Valid trade license
- Board resolution giving signatory authorization
- Power of Attorney for the third party
Advantages of SHAMS Company Setup
The essential advantages for SHAMS company setup are:
- 100% exemption from duties and tax and overseas ownership, no restriction on capital repatriation, free transfer of money.
- The physical presence is not required for the owner of a company for establishing a company in SHAMS.
- The entire process is simple and quick thanks to the usance of the latest technology
- Exclusive benefits are available for media formation and related industries.
- SHAMS is one of the very cost-effective free zones in the United Arab Emirates.
- The procedure of documentation can be accomplished in only two days.
- No requirement for the paid-up share capital and annual audit
- Appointing overseas employees is permitted
- Permits of opening a corporate bank account
Here we mentioned a little guide for SHAMS company setup, this will surely help you to understand the necessary criteria for establishing a business. If you are still unsure then no need to worry you can contact Start Any Business UAE consultants that will provide you complete assistance and proper guidance throughout the entire procedure.
Created on Aug 19th 2021 02:28. Viewed 354 times.