EVERYTHING YOU NEED TO KNOW ABOUT COMPANY LICENSE IN SHAMS
Written By Jahnavi – 13th July’21
Sharjah Media City (Shams) was established in February 2017 to serve as a catalyst for the growth and development of creative and media industries. Shams encompasses a wide variety of business activities available for anyone willing to start their entrepreneurial adventure in the UAE, with the goal of becoming a world-class media hub for innovative facilities and services. A Company Licence in SHAMS is a permit that enables a corporation to conduct particular commercial operations within Sharjah Media City (Shams).
Why SHAMS
1. AED 5750 is the minimum cost without a visa.
2. Various commercial activities are available.
3. It is possible to secure six visas for the shared desk option.
4. There is no need to pay a deposit.
5. Investor visas have no age limitations.
6. There is no requirement to have a physical presence in the UAE to start a business.
7. For your company, you might designate Corporate Directors and Managers.
8. It has the easiest and quickest way to register online.
9. Only a few days are required to have your firm documentation.
10. Companies’ liability will be restricted.
11. The location is ideal, only 15 minutes from Dubai International Airport and 5 minutes from Sharjah International Airport.
Types of licenses
1. Service License
It enables service creation, re-creation, transformation, and distribution. The provision of services as a major goal, as well as the use of products to do so, is covered by the service license.
2. Trade License
Buying and selling items inside Shams, as well as importing and exporting products. It encompasses the transportation of products, wholesale and retail sales of items, and the provision of services associated with these sales.
3. Industrial License
It enables items to be produced, re-produced, transformed, and manufactured.
Offices in SHAMS
The creation of a SHAMS corporation requires obtaining a location in this free zone. By default, Flexi-desk is not included in the setup package. It is suggested that you have it in order to comply with bank regulations.
The following are the SHAMS facilities in general:
a. Shares a workstation (flexi-desk)
b. Dedicated workstation
c. Office space that is shared
d. Dedicated workspace
Company formation
Company registration in UAE may be completed entirely remotely, whether you are in the UAE or overseas, and in as little as a week.
The following are the documents you must submit:
a. a copy of your passport
b. Phone number
c. Email
Starting at the age of 19, Sharjah Media City free zone enables the youngest age of company shareholders to operate a business. This is a fantastic bonus that you won’t find in any other Free Zone. Employees as young as 18 years old are permitted, which is rare in comparison to other Free Zones.
Because all of the company’s paperwork is electronic, you may print them off wherever you want and not worry about losing the originals. To ensure that the documents are valid, they may always be checked on the SHAMS website.
Residency Visa
SHAMS offers one of the most flexible visa distribution systems, allowing a firm to be eligible for anything from zero to six visas.
The Hamriyah free zone visa is another option for getting several visa slots in Sharjah.
Furthermore, you have the option to upgrade your plan at any moment.
All visas have a three-year validity period.
When applying for a resident visa under the SHAMS free zone license, you must either obtain health insurance or sign a statement stating that you will do so within the following 10 months.
Company renewal
It is possible to renew a company remotely, just as it is to set it up. The authority makes no demands on audit reports.
Fees for renewal and setup are the same. There is no need for audit reports.
Monthly fines will begin to accumulate if you do not renew the company on time. A fine of 1,100 AED is imposed after the first month. Each month after that will set you back 100 AED.
Amendments
Any amendments to Sharjah Media City are easy. The majority of them cost 2,000 AED and do not require physical attendance.
During the renewal, you will be able to make changes to your license without any cost.
Conclusion
By following a few simple steps, you can open a company in SHAMS. It is advised to seek help from professionals when planning for a company setup.
How Radiant Biz helps you
In matters like business setup, people tend to get confused and get in a chaos due to a number of rules and requirements. This is the time when people tend to look for an expert. A lot of chaos can be avoided if guidance is taken from the very beginning. Every venture may have unique requirements like location, customer convenience, logistical feasibility and banking services.
We at Projectfrpjsc strive to understand these unique precepts and provide expert and reliable consultation to our clients with updated laws and governing regulations, awareness of their rights and cost effective business solutions tailor made to their business needs and budget.
