All About Company Formation in Sharjah
The way entrepreneurs and ex-pats select Sharjah as the location for a branch office or to establish a firm shows how it has developed into one of the most promising business centers in the UAE. The location provides exceptional connectivity with the rest of the world because it has both an international airport and a seaport.
A great variety of beneficial elements make a Business Setup in Sharjah simple. The Emirate has rules that are beneficial to investors, making it easy to start a business in Sharjah. Even those who are new to the sector will feel comfortable thanks to the helpful authorities and simple company setup procedures.
In either Mainland or Free Zone jurisdiction, a company can be incorporated. For each of Sharjah's domains, there are different requirements and different processes for forming a corporation.
To initiate your Company Formation in Sharjah, you must have knowledge of the permitted business entities and the available license types in the Emirate.
The Permitted Business Entities in Sharjah
For the business formation procedure to be effective, investors must choose an acceptable legal structure. In Sharjah, the following types of businesses can be formed, depending on the number of shareholders:
Limited Liability Company
A Limited Liability Corporation (LLC) can be established with a minimum of two shareholders and a maximum of 50. Each shareholder's obligation to the corporation is capped at the value of their capital share.
From June 2021, the government has made a provision for ex-pats to establish an LLC in Sharjah with 100% foreign ownership.
A partnership corporation is created by two or more shareholders who are each jointly responsible for the firm's debts based on the number of shares they own. A partnership corporation cannot be started by foreign investors, unlike an LLC.
UAE citizens must represent all of the shareholders.
A Local Service Agent (LSA) Corporation is essentially a sole proprietorship with a single owner. To launch a business with just one owner, foreign business owners must select an LSA who is a citizen of the UAE.
If the owner is a citizen of the UAE or a member of the Gulf Cooperation Council (GCC), the LSA requirement does not apply. There are no ownership or shareholding claims in the company for the LSA is eligible.
Public/ Private Shareholding Company
A shareholding corporation divides its share capital into equal-valued tradeable shares. Each business partner is only partially liable for the value of their respective shares. For a private shareholding corporation in Sharjah, the rules that apply to public joint stock companies apply. The initial members of the corporation are those who sign the memorandum and articles of association.
Companies that have already registered may incorporate their branches on the Sharjah mainland. Companies from the GCC, the UAE, and other countries are all permitted to establish branches in Sharjah mainland.
The Available License Types in Sharjah
The following licenses can be availed according to your business requirements:
- Industrial License
- Commercial License
- Professional License
Choose a Jurisdiction for Your Company Setup in Sharjah
The foreigners have a choice between two sorts of commercial jurisdictions for a Company Setup in Sharjah.
A company may decide to establish itself in Sharjah Mainland, which includes regions designated by UAE government agencies for commercial purposes. It consists of one of the Emirate's most economically advanced areas with regulated statutory practices.
Sharjah Free Zone Company is the most affordable option and is quite modest when compared to the other free zones in the UAE. The Emirates government has provided unrivaled investor incentives and facilities for this company's development.
The Process to Start a New Business in Sharjah
To initiate a New Business Setup in Sharjah, the steps mentioned below should be followed for an error-free establishment.
First, you need to select your business activity and a suitable location to carry that out.
The second step is to choose a suitable corporate entity & decide on a 'trade' name.
The documentation is extremely important and, therefore, should be prepared well.
You might require to obtain some special approvals depending on your business activity.
Pay the Business Setup Cost in Sharjah, and after that, get your company license to start your corporate operations.
Documents Required to Set Up Business in Sharjah
Why Choose Gryffin Capitalist?
We provide individualized company establishment advising services in the United Arab Emirates. We thoroughly comprehend your business concept, and with the aid of our Business Setup Consultants in Sharjah and their extensive industry expertise, we map and process your company's requirements in accordance with your wants.
We assist you throughout the full process of company formation, from advice and guidance through the complete legal and company setup process to free post-company formation services in Sharjah. Connect with us now as our experienced consultants provide customized solutions and a hassle-free procedure.
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What our clients say
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