Are you a business person looking to set up a business in Hamriyah Free Zone (HFZA)? If yes, you are in the right place. Hamriyah Free Zone is a perfect place to set up your business in Sharjah as it offers investors a wide range of opportunities to grow their businesses.
But what exactly is the Hamriyah Free Zone?
General Information About Hamriyah Free Zone Authority
Hamriyah Free Zone: Location
Hamriyah Free Zone Authority (HFZA) in Sharjah is one of the most popular free zones in the UAE. Established by Emiri Decree no 6 in November 12, 1995, HFZA has more than 6500 businesses from several countries across the globe. With its strategic position between three continents and the only Emirate with ports along the west coast of the Arabia Gulf, HFZA is quickly becoming one of the most important components of the Emirates’ industrial growth.
Why Establish a Business in the Hamriyah Free Zone Authority?
Sharjah has a thriving economy with endless opportunities for investors looking to venture into business in the United Arab Emirates. The Emirate’s government recognises the importance of trading and manufacturing sectors for the economy and has charted policies that encourage international investment. International investors flock to Sharjah primarily because the government policies are friendly, especially for new firms. As a result, the city has experienced rapid expansion over the past few years.
Benefits of Business Setup in Hamriyah Free Zone Authority
Setting up a business in Hamriyah Free Zone Authority is fruitful from the following standpoints:
- You can own 100% of the company
- 100% exemption from both export and import taxes
- Freedom to transfers profits & capital to another country
- Unique/strategic position to access both local and international markets
- Reasonable living costs
- Quality infrastructure, including highways and roads for easier access to various parts of the world
- Possibility of 25-year leasehold, renewable for another 25 years
- Availability of skilled and low-cost workforce
- Online visa application and renewal
- Spacious warehouses and executive office spaces for lease
- Currency flexibility
- Access to 14-metre-deep water port and 7-metre inner harbour
Offices and Warehouses in Hamriyah Free Zone Authority
- Offices – Every company needs an office where it runs all its operations. Hamriyah Free Zone Authority offers a wide range of offices with customisable spaces and state of the art communications systems. With office spaces ranging from 15 square metres to 40 square metres, there is something for everyone.
- Warehouses – Apart from spacious customisable offices, HFZA has a range of warehouses on their list. They are available in sizes between 250 square metres and 614 square metres. All of these warehouses come with various utilities and parking spaces.
Hamriyah Free Zone: Types of Business Licenses
If your business involves importing, exporting, selling, distributing and storing items, you need a commercial license with the products listed on it. If you intend to sell the end products in the local market (UAE), you must go through a local distributor or agency. The license covers both specific & general trading and E-commerce.
This license is for businesses that fall under the services domain. As a service license holder, you are entitled to perform the services specified in the license within HFZA.
Industrial licenses are issued to companies in the manufacturing domain. It allows you, the holder, to import raw materials for manufacturing, processing and assembling listed goods. You can export and sell the finished products in foreign markets. If you intend in selling within the UAE market, you are required to involve a local distributor.
Business Setup in Hamriyah Free Zone Authority
Business setup in HFZA is relatively straightforward. In most cases, it will take between one to two working days to complete the process. Some other processes, such as warehouse registration, might take longer because they depend on a third party’s approval of other documents.
HFZA Company Setup Process
Company formation in Hamriyah Free Zone takes three primary steps:
- Filling and submitting application forms, alongside other relevant documents
- Payment of the registration fee
- Getting a trade license
You will need the following documents during company registration:
- A copy of your passport
- A passport-sized photo
- A copy of your previous entry copy to the UAE
- A business plan (for some activities)
There are three primary types of legal statuses for business setup in HFZA:
- Free Zone Company (FZE), two to five shareholders
- Free Zone Establishment (FZC), one shareholder
- Business setup as a branch of a local or international company
HFZA Facilities and Packages
From office spaces to warehouses, Hamriyah Free Zone Authority has a wide range of facilities for investors. Here are some of what HFZA offers:
- Variety of offices including; E-office, Executive and HBC offices
- Pre-built warehouses
- Affordable on-site accommodation
- Lands for lease, short-term and long term
Business owners with companies in Hamriyah Free Zone Authority can access a range of online services that ensures convenience and time saving. Through the HFZA online service, you can complete a variety of administrative tasks, including:
- License-related services (application & renewal, etc.)
- Contract-related services
- VAT registration services
To access these services online, you need to register on an online portal to get a username and password for login. Alternatively, you can log in to the portal using your email address and Emirates ID.
Industries in Hamriyah Free Zone Authority
Being one of the most prominent business hubs in the Middle East, Hamriyah Free Zone Authority covers a range of industries. Here are a few business sectors you can set up in HFZA:
- Gas and Oil
- Logistics and Transportation