Sharjah Publishing City
Setting up a business in Sharjah Publishing City FreeZone
Sharjah is an upcoming Dubai free zone. It is located along the Persian Gulf coast between Sharjah and Abu Dhabi. Sharjah offers many attractions to visitors and residents alike, such as the Wide Wadi Water Park and the Universal Studios Theme Park. In Sharjah, you can also enjoy recreational and commercial activities, educational and cultural programs, and sporting events, such as the National Stadium. Sharjah possesses a thriving commercial and investment community, which have led to its development as a thriving tourist area.
Sharjah’s Free Zone is not similar to any other city in the world. This area was designed for the express purpose of attracting international business to the area. Sharjah enjoys a very favorable location that has both advantages and disadvantages. The advantages associated with the Free Zone include an extremely low cost of living, access to a wide range of services and products, easy accessibility to major Sharjah cities including the capital city, and easy accessibility to international waters and airports. In addition, the government provides a variety of incentives to businesses in the area, and foreign direct investments are quite favorable.
However, disadvantages of the free zone include Sharjah being a very small area. Because there are limited numbers of businesses operating in Sharjah, competition for services and products is fierce. Also, the political and social environment in Sharjah is quite unstable, and international companies must take extra security precautions due to the possibility of mistreatment and security threats.
Sharjah enjoys an abundance of sunlight. Therefore, the cost of cooling and heating in the free zone is relatively high. Moreover, the lack of daylight also affects the operation of the business industry. Hotels, restaurants, and banks in Sharjah do not operate during daylight hours. Consequently, businesses must operate 24 hours a day.
Sharjah’s free zone offers a great deal of opportunities for business owners. The Sharjah International Airport and Dubai Mall offer great shopping experiences for shopaholics and business owners, and Dubai Shopping Village promise a one-of-a-kind shopping experience with its state of the art electronic shops and boutiques. Sharjah’s main commercial center, the Business Bay, is home to a wide range of traditional stores selling clothing, spices, jewellery, electronics, and other consumer goods. Sharjah even boasts a number of malls, including the Sharjah Mall and the Al Maktounah Shopping Complex.
For Sharjah’s new and emerging business community, the free zone provides an opportunity to purchase or lease commercial property. In addition, business owners may obtain permits to construct offices and rental spaces. Although business owners may find it difficult to compete in these markets due to the low labor and material costs associated with local labor, the free zones provide an alternative for businesses that want to benefit from the development happening around the city.
Top 3 categories of licenses issued in Dubai to register a company
Depending on the nature of the activity a business entity plans to undertake, license in one of these categories will be issued:
1. Commercial License – is issued to a company who will engage in any kind of trading activity.
2. Industrial License – is issued to a company who will engage in manufacturing or any industrial activity.
3. Professional License – is issued to service providers, professionals, artisans, and craftsmen.
The Dubai Economic Department for Business Development in Dubai is the government agency who is responsible for issuing Dubai company/Business licenses. This department operates from several locations to deliver licensing services in Duabi, UAE.
- The very first step in the process of incorporating a company in Dubai is getting an effective legal name for the business entity. One can choose any name for the company including the name of the company, its address, the name of its director and the management team, and many more. The legal name of the company must comply with the laws of the country where it is incorporated. An expert firm will help you choose the name of the company accordingly. Another factor that you need to take care of is that the name of the company should not be confusing.
- Once you have selected the name of the company, you have to get the ownership of the business. If you are not aware of how do I start an LLC in Dubai, this aspect is the responsibility of the firm that you have chosen to do the task for you. As far as the ownership of the business is concerned, you need to get in touch with an experienced business lawyer who will help you carry out the procedure legally. Once you are done with the process of incorporating the company in Dubai, you need to register it at the Companies Registry. You will have to provide all the details about the nature of the business, the owners and the type of trade that you undertake. All these details are mandatory and you need to submit them along with the application form in the database maintained by the Registry.
- After getting the registration of the company, you need to register the company. This process can be done online or by visiting the Companies Registry office in the city. You need to pay a nominal fee for the registration and you need to provide the latest contact information of the directors to the registry authorities. If you are still wondering how do I start an LLC in Dubai? then you need to know that all this entire process can be completed within three months from the time of filing the first set of forms.
- Now, you need to decide about the capitalization of the business. This decision depends on your requirements and the profit margins that you can get from the business. For instance, if you are running a small retail business, then you can start a limited liability company with a capital of only a few thousand dollars. However, if you are planning to set up a manufacturing business, then you need to have a business plan that will include figures regarding the investments, profits, losses, etc. That is the reason why it is necessary to have a well-written business plan before starting the business.
- The next step in the process of how do I start an LLC in Dubai is to find a name for your company. It is not mandatory to choose the name of the company when you apply for its registration. But, if you are going to establish a limited liability company, then you have to use the name of your company or brand. Again, you have to select a trademark that will be able to represent your company and its products. For instance, if you are dealing in the manufacturing of sports equipment, then you can choose the name of the brand or you can even purchase a trademark from the trademark department of the United States Patent and Trademark Office.
- After you have chosen the name of your company and trademark, you need to register the name. This is done by filing the appropriate paperwork with the concerned office. However, you must remember that even if your company name is already registered, it does not mean that the name cannot be changed anytime in the future. Therefore, you have to keep this factor in mind. Even if you have registered your company’s name, you should still check on it once in a while so that you can make the necessary changes as and when necessary.
- One important point that you have to consider when you want to set up an LLC in Dubai is the formation procedure. You will have to complete the set of procedures and formalities required to get a legal registered company up and running. In addition, you will also have to abide by certain laws, regulations and rules in order to become functional as a business unit. In order to deal with these requirements, it would be better if you seek help from a company that specializes in establishing a limited liability company in Dubai. You can discuss the details of the company’s formation with this company and you can also take a look at the services that they are offering to get the ball rolling.
Many of Sharjah’s business owners have opted to rent commercial property in the free zone. This has allowed many of these business owners to capitalize on the fast-paced development happening around Sharjah. Sharjah’s free zones provide Sharjah with an inexpensive space for establishing a business. Renting a free space allows business owners to have their own tenants, rent their own office space, and control their own budget. Sharjah’s business owners can enjoy all the benefits of the growing Sharjah market without all the risks.