Business Setup In Sharjah
How To Setup A Company In Sharjah?
Starting a new business in Sharjah is easy but it requires certain ground rules and one of them is the fact that you must know how to set up a Company in Sharjah. Companies have become an essential part of the economic and social structure of UAE and keeping this fact in mind, Sharjah Economic Development Board has worked out a series of laws and regulations for the set up of a Company in Sharjah. This article is all about the easy steps that are required to start a company in Sharjah. Just in case if you are not aware of the legal formalities and procedures, don’t worry. All you have to do is to follow the below mentioned instructions and you will be able to set up a Company in Sharjah without any hassles.
Necessary Requirements To Setup Company In Sharjah?
- First and foremost, it is mandatory for every Company to have a director. The procedure to select the best suitable director for your company is the same as that of the procedure to register a business. You can either approach a company that specializes in corporate services or find one on the internet.
- Once you finalize the name of the company and the director, it is time to set up a bank account for the business. Banks in UAE are very lenient in terms of providing credit lines and loans to new entrepreneurs. So, it is advisable to open a business bank account in Dubai. However, it is also important to note that only those companies registered with the government banks (such as the Dubai Commercial Bank) can access the commercial banking option.
- It is important for you to understand the purpose of your Company. Before you proceed further, it is advisable to consult a business lawyer for knowing more about the set up of your business. Once you complete the task of how to set up a Company in Sharjah, the next step involves the issue of property. You may decide to set up a limited liability company or a partnership. For this purpose, you need to consult a business lawyer for getting more information on these options.
- Another important topic in the matter of how to set up a Company in Sharjah includes the issue of the business license. If you want to set up a business in Sharjah, it is mandatory for you to get a business license from the concerned authorities. A business license is considered as an important document in order to run a legitimate business. Without a business license, Sharjah authorities will not provide you a license to operate your business.
Finally, business registration in Sharjah is another important topic that is often overlooked by novice entrepreneurs. However, without proper business registration, it is not possible for you to benefit from various tax benefits and privileges available to a company with registered status in Sharjah. Once you get a business registration, you can run your business legally, hire employees, buy land or buildings, etc. No matter how small your business is and how simple or intricate its structure, you must ensure that all corporate requirements are met by following the correct procedure as prescribed by the law.
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