Shams Free Zone Overview
Sharjah Media City, better known as Shams Free Zone, is a part of Sharjah City in the UAE. It was created in 2017 by the Sharjah Emirate government to spur creative and media businesses. The aim is to make the city the center of media excellence in the UAE. Regulatory and policy initiatives in the free zone aim at making registration, setup, operating a company, and service provision faster and easier.
Besides media and the creative space, Shams Free Zone has other businesses working to support the flagship project. It has innovative facilities that make it easier for companies in different sectors to setup and thrive. As an entrepreneur, you can live, innovate, and sell your goods and services anywhere in the Emirate. The tax model is friendly, allowing the business to repatriate profits to their home country.
Types of Licenses in Shams Free Zone
- Consultancy License – the license authorizes the practitioner to consult in media and other services within the free zone. It facilitates custom-made services to any corporate or individual working in Shams free zone and the entire Emirate.
- Media License – it allows the company to run media businesses, ranging from social to audio-visual services. It also allows the company to offer other services related to media and journalism.
- Trading license – gives authority to the company to exchange tangible goods and services, including importing, exporting, wholesale and retail trading.
- Freelance – for those who have a skill but do not have a physical location, this license allows you to work within the city.
- Industrial – The license authorises manufacturing and large-scale production activities within the city. It offers a single package license for activities within this sector, among them production, logistics, sales and distribution.
The Sharjah Free Zone government package these licenses into 1, making it easier to trade and cut operations costs.
Benefits of business setup in Sharjah Media City
Sharjah Media City, or Shams, is a free zone and media hub in the United Arab Emirates. The city is situated in the emirate of Sharjah and is home to many media and technology companies.
Shams Free Zone offers several benefits for businesses, including 100% ownership, a tax-free environment, and a range of visa and residency options. The city also provides a variety of infrastructure and support services for businesses.
Sharjah Media City is a great place to set up a business in the media and technology industries. The city offers many benefits that will help businesses to thrive. These benefits include 100% ownership, a tax-free environment, a variety of visas and residency options, and a range of infrastructure and support services.
Shams Free Zone is a special economic zone located in the emirate of Sharjah, United Arab Emirates. The zone is designed to attract foreign investments in technology-based industries and to promote the development of Sharjah as an international business hub.
Advantages of business setup in Shams Free Zone
- A tax-free environment
- 100% foreign ownership
- No restrictions on repatriation of profits
- A one-stop shop for all government services
- A dedicated industrial park with world-class infrastructure
- A dedicated team of Investment Promotion Agency (IPA) professionals to provide support and assistance
If you are looking to invest in a technology-based company or to set up an international business hub, the Free Zone is the perfect location. It offers many advantages that will help businesses to succeed. Businesses in Shams Free Zone will enjoy 100% ownership, a tax-free environment, and a range of visa and residency options. In addition, the city offers a variety of infrastructure and support services that will help businesses to thrive.
Facilities offered in Shams Free Zone
Shams Free Zone is a special economic zone located in the United Arab Emirates. It was established in 2006 to provide a business-friendly environment for companies to set up operations in the zone. Shams Free Zone offers a variety of facilities and services to its tenants, which include:
-A variety of office space options: Shams Free Zone offers a range of office space options to suit the needs of any business. From small serviced offices to large office suites, there is something to suit every business.
-Flexible lease terms: Shams Free Zone offers flexible lease terms, so businesses can choose the length of time that suits them.
-A variety of support services: Shams Free Zone offers a variety of support services to its tenants, including a business center, secretarial services, and a concierge service.
-A range of leisure facilities: Shams Free Zone offers a range of leisure facilities for its tenants, including a gym, swimming pool, and tennis courts.
-A central location: Shams Free Zone is centrally located in the Sharjah, making it easy for businesses to access the rest of the country.
Shams Free Zone license cost
In today’s business climate, it’s more important than ever to have a solid plan for growth and expansion. That’s why so many companies are looking at setting up shop in Shams Free Zone. The Free Zone is a special economic zone located in the United Arab Emirates. It was established in 2013 to provide businesses with a range of facilities and services that would make it easier for them to operate in the UAE.
One of the key advantages of setting up business in Shams Free Zone is the range of facilities and services that are on offer. These include:
- A world-class business park with state-of-the-art facilities
- A dedicated business center with meeting rooms and office space
- A wide range of support services including visa and legal assistance
- A range of leisure and recreation facilities
The Shams Free Zone has been designed to provide businesses with everything they need to succeed. If you are looking for a place to set up your business in the UAE, the Shams Free Zone is the perfect choice. It offers a variety of facility types to suit the needs of any business. From small office units to large industrial warehouses, there’s a perfect space for every company.
Shams Free Zone license fees starts from 8,060 AED included registration address with 3 business activity:
|Type of licence | Visa Eligibility||License cost first year||Shams License Renewal fee|
|ZERO visa package||AED 8,060||AED 8,060|
|1 visa package||AED 11,753||AED 11,753|
|2 visas package||AED 12,875||AED 12,875|
|3 visas package||AED 13,995||AED 13,995|
|4 visas Package||AED 15,120||AED 15,120|
The time frame of the company registration is between 3 to 5 business days and the process could be done remotely so the presence of the shareholders and directors is not required.
Several items to be considered with the above packages.
Shams Free Zone Residence visa cost – Schedule of Charges 2023
- Establishment Card fee: 1st year AED 1,585
- E-channel registration: AED 2,735
- Shams Residence Visa fee: AED 3,360 per applicant
- Medical checkup: VIP process AED 850 | Normal Process AED 450
- Emirates ID application fee: AED 390
Shams Free Zone if offering promotional packages every month. Please contact us to get more details info@FreeZoneMarket.ae
Sharjah Media City Company Liquidation
Shams Free Zone is a designated area in the UAE that offers businesses a tax-free environment and 100% foreign ownership. It is one of the seven emirates that make up the UAE and is the third largest by area.
Shams Free Zone offers many benefits to businesses including 100% foreign ownership, 100% repatriation of profits, 0% personal and corporate tax, and 100% import and export tax exemption. There are also some incentives for businesses to set up in the media city including a dedicated media zone with state-of-the-art infrastructure, a one-stop-shop for all media-related services, and a wide range of support services.
Company De–registration is the process of removing a company from the register of companies maintained by the relevant authority, such as the Registrar of Companies. This can happen for a variety of reasons, such as the company no longer carrying on business, Decision of the company shareholders, or the company not meeting its legal obligations. The Liquidation, also known as winding up, is the process of ending a company’s existence and distributing its assets among its creditors and shareholders. This is usually done when the company is unable to pay its debts and is insolvent.
There are two types of liquidation:
1 – Voluntary liquidation: where the company’s shareholders decide to liquidate the company.
2 – Compulsory liquidation: where the court orders the liquidation of the company.
In summary, de–registration is the process of removing a company from the register, while liquidation is the process of ending the company’s existence and distributing its assets. A company may be de–registered before or after liquidation.
License renewal in Shams Free Zone
If you’re doing business in Shams Free Zone, you’ll need to renew your license every year. Here’s what you need to know about the process.
The first step is to fill out the online application form. You’ll need to provide basic information about your company, including its name and contact information. You’ll also need to upload a copy of your business registration certificate.
Once you submit the form, you’ll need to pay the renewal fee. The fee is the same amount of registration fee for most companies, but it may be higher for companies that have more than 10 employees.
Once you’ve paid the fee, you’ll need to submit a copy of your company’s financial statement for the previous year. This should be audited by a certified accountant.
Finally, you’ll need to submit a copy of your company’s trade license. Once all of these documents have been submitted, your license will be renewed and you’ll be able to continue doing business in Shams Free Zone.
Why Use FreeZoneMarket.ae?
- You don’t need an agent to act on your behalf during company registration in Shams Free Zone. You get all business documents from the platform.
- The platform is a one-stop-shop for all your business formation processes and documents. Thanks to the simple process, you get assistance faster, maintaining the working efficiency needed.
- As a single platform for all your business needs, it saves you money that you’d otherwise have used to move from office to office seeking assistance. From accounting to auditing, VISAs, business permit renewal, tax agent and FTA approvals, you have it on FreeZoneMarket.ae. You are also eligible for occasional offers and promotions.
- The system has other complementary services, including getting a resident VISA and a business bank account opening. In essence, FreeZoneMarket.ae will kick-start your entrepreneurial journey in Sharjah Media City without physically being present.
- The city offers competitive pricing compared to the other emirates in the UAE. It doesn’t charge the processing fees for licensing or VISA applications. You also do not get charged for facilitating shared or private office space. Overall, the costs associated with the formation and renewal of company documents are significantly reduced, making your work easier and more affordable.