BUSINESS SETUP IN SHARJAH
The Emirate of Sharjah is highly advanced and safe.
Over 45% of the nation’s Gross Domestic Product (GDP) is attributed to the country’s business activities. Foreign investors have plenty of opportunities in the Emirate since it is the only city to have access both to ports on the eastern and western coasts of the Arabian Gulf. Among the various types of business entities available to investors are L.L.C.s, joint-stock companies, branches, and subsidiaries.
Due to its proximity to an international airport and coupled ports on the west and east coasts of the Arabian Gulf offering direct access to North Africa and the Indian Ocean, Sharjah is becoming an alternative to Dubai for business setup in UAE. Geographically positioned (at the intersection of Asia, Africa, and Europe), it has unmatched investment opportunities and, as a result, attracts more than 5.2 million consumers, 1 million investors, and 1 million travellers a year.
With a low crime rate and a surplus of economic energy supply, Sharjah is one of the safest global cities. Despite its liberal economy and fair judicial system, Sharjah has a competitive fee structure and low lease rates. A highly skilled and bilingual workforce is also present here, along with a very economical workforce. Additionally, there is a provision for sponsorship and visas for the entire staff, as well as a 24-hour hotline to ensure an uninterrupted supply of labor and equipment.
Sharjah is growing as a result of economic expansion, and it is bringing in foreign investment as one of the most rewarding industrial destinations. Sharjah understands how important the trade, service, and manufacturing sectors are to supporting its economy, so it has enacted policies that encourage foreign investment.
In addition to appealing to global investors, flexible government schemes have contributed to the accelerated and continued economic growth of the Emirate. In addition, Sharjah’s business growth remains accurate as the country maintains friendly trade relations with many nations around the world. Having a business setup in Sharjah provides you with long-term relationships with customers and trade orders in the U.A.E. Other reasons to consider setting up a business in Sharjah include:
- Sharjah is a tax haven (no income tax or corporate tax)
- The legal system is modern
- Neither foreign exchange controls nor trade barriers exist
- Investment security
- Sharjah offers investors a variety of incentives
- Sharjah allows 100% foreign ownership of companies
- All exports, imports, and commercial levies are exempt from tax
- Capital and profits repatriated 100 percent
- Sharjah offers investors free warehousing facilities for up to two months
- An advanced communication system and multiple foreign and local banks are available
Since a few years ago, Sharjah has advanced dramatically in technology, arts, and culture. History and culture are attractions in Sharjah that attract the entrepreneur to set up a business here. Besides the aesthete, Sharjah offers much more. It is possible to gain so much more from a business setup in Sharjah. With its active seaport, culture, wealth, and heritage, the city is cheaper and has an active seaport. Different sectors are trying to become number one in the business industry.
Business Jurisdictions in Sharjah
Founded in 2009, the Sharjah Investment and Development Authority (Shurooq) oversees investments and development in Sharjah. It is responsible for asset and property management, as well as development and investment within the Emirate. Sharjah’s development is also assessed from a social, economic, environmental, and cultural perspective, according to Islamic values. There are two business jurisdictions available to expatriates in Sharjah: (1) Mainland or (2) Free Zone
Business setup in Sharjah requires adhering to the procedures and legal formalities. The team at our business setup company in Sharjah can help you handle all the judicial procedures and documents needed for Sharjah company registration.
Sharjah has a meagre crime rate and cheap energy supply, which makes it one of the safest cities in the world. It has a liberal economy with industry-driven fee structures and competitive property lease rates. Furthermore, there are a large number of exceptionally qualified and well-trained men who are primarily bilingual and economical. Apart from that, there are some other reasons why an investor should consider a business setup in Sharjah.
Sharjah, as a pro-business state, recognizes the importance of the service, trade, and manufacturing industries in the country’s economy and has designed policies that encourage foreign investment. The Emirate is a flourishing economy and one of the top foreign investment destinations in the world. Sharjah’s trend of expanding business remains positive because it focuses on maintaining world economic ties and friendly mercantilism relations with a vast array of nations worldwide. Sharjah offers multiple banks, including native and international banks, and a modern communication system.