Establishing a company in the Hamriyah Free Zone is a strategic choice for investors seeking to benefit from a flexible and restrictive business environment. Located in the Emirate of Sharjah, the Hamriyah Free Zone is strategically located near major ports and airports, making it an ideal gateway to global markets in the Middle East, Asia, and Africa. This zone offers many investment advantages that make it a preferred destination for companies from various sectors.
One of the main advantages of establishing a company in the Hamriyah Free Zone is the complete exemption from corporate and personal income taxes, which enhances the profitability of companies and contributes to reducing operating costs. In addition, the zone provides great flexibility in company ownership, as foreign investors can own their companies 100% without the need for a local partner. This privilege gives investors complete freedom to manage their businesses and expand their commercial activities.
The Hamriyah Free Zone is characterized by the presence of a variety of economic sectors that can be invested in, including manufacturing, logistics, and international trade. The zone also offers advanced infrastructure that supports various business activities, with the availability of modern storage facilities and office spaces equipped with the latest technologies. Companies can also access a variety of service packages including legal and logistical support, as well as facilities for registering companies and obtaining licenses quickly and efficiently.
In short, establishing a company in the Hamriyah Free Zone provides golden opportunities for investors thanks to the great facilities and strategic location, making it one of the best free zones in the UAE for business development and global expansion.
Steps to establish companies in the Hamriyah Free Zone
Here are the steps to establish a company in the Hamriyah Free Zone:
Research and study: Conduct extensive research on investment opportunities and requirements in the Hamriyah Free Zone.
Choose the type of company: Determine the type of company that suits your business activity, such as a joint stock company or a limited liability company.
Choose the trade name: Choose an appropriate name and ensure that it complies with local regulations for its registration.
Determine the business activity: Determine the main business activity that the company will carry out.
Determine shareholders and shares: Identify shareholders and determine their shares in the capital.
Determine key employees: Identify key employees and determine their responsibilities.
Prepare the required documents: Prepare the documents required to register the company, such as the partnership agreement and articles of association.
Submit the registration application: Submit the company registration application to the competent authorities in the Hamriyah Free Zone.
Complete the legal procedures: Wait for the completion of the legal procedures and obtain the necessary licenses.
Open a bank account: Open a bank account in the name of the company to manage financial transfers.
Insurance and taxes: Register the company for social insurance and fulfill all tax obligations.
Starting Business: After completing all the procedures, you can start working in the company.
Fees for establishing a company in the Hamriyah Free Zone
The fees for establishing a company in the Hamriyah Free Zone vary based on several factors, including the type of company you wish to establish, the size of the business, the required office space, and the type of commercial license you need. In general, the fees include the cost of issuing a commercial license, rental fees for offices or warehouses within the free zone, in addition to the administrative and logistical service fees that you may need during the establishment process.
In addition to the basic fees, some additional costs may be incurred for opening a bank account, obtaining the necessary visas for employees, and registration procedures with government agencies. These fees vary depending on the number of employees and the company’s requirements.
The Hamriyah Free Zone also provides many flexible packages that suit the needs of emerging or large companies, allowing companies to choose solutions that suit their budgets and expansion plans.
Documents required to establish a company in the Hamriyah Free Zone
To establish a company in the Hamriyah Free Zone, there are a set of papers and documents that must be submitted. These documents include:
Company Incorporation Application Form: The company incorporation application form must be completed, which includes details of the type of business activity and the basic details of the company.
Copies of the passports of the shareholders and directors: A clear copy of the passport of each of the shareholders and directors of the company must be provided, and must be valid.
Personal Photograph: A recent personal photograph of each of the shareholders and directors must be provided.
Business Plan: A business plan may be required to be provided detailing the targeted business activity, the nature of the expected business, and the future plans of the company.
Memorandum of Association and Articles of Association: In the case of limited liability companies, the memorandum of association and articles of association must be provided, which outline the structure of the company and the distribution of shares among the shareholders.
Office Lease Contract: A lease contract for an office or warehouse within the free zone must be provided, and must be notarized.
Manager’s Authorization: If there is a manager appointed to manage the company, an official authorization letter must be provided outlining his role and powers.
No Objection Letter (if applicable): If one of the shareholders or directors is an employee of another company within the UAE, a no objection letter from the current employer may be required.
Special Licenses: Depending on the type of business you wish to operate, you may need to apply for additional licenses or special approvals from the relevant authorities. These are the basic documents that are usually required when establishing a company in the Hamriyah Free Zone, but the requirements may vary slightly depending on the type of company and the type of business activity.
Benefits of Hamriyah Free Zone for Businesses
Hamriyah Free Zone in Sharjah is one of the most prominent free zones in the UAE, offering a range of unique benefits that support businesses and help them grow and prosper. Here are some of the key benefits of Hamriyah Free Zone:
Full ownership: Hamriyah Free Zone allows foreign investors to have full ownership of companies without the need for a local partner, giving them complete control over the business.
Tax exemptions: The zone offers tax exemptions on profits and income, which helps reduce financial burdens and increase profitability.
Customs facilities: Companies in the free zone enjoy customs exemptions on their imports and exports, which facilitates international trade operations and reduces costs.
Advanced infrastructure: The zone has a modern infrastructure that includes industrial facilities, offices, and warehouses, which helps companies operate their businesses efficiently.
Strategic location: Hamriyah Free Zone is located near major ports and airports, facilitating access to regional and international markets and enhancing trade.
Speeding up licensing procedures: The free zone offers simplified and fast registration and licensing processes, helping companies get started quickly.
Diverse space options: The free zone offers a variety of office, industrial and commercial space options, catering to businesses of all sizes.
Government support: The government provides support and guidance to investors, including assistance in completing the necessary procedures for establishing companies.
Employability: The free zone allows investors to employ human resources from all over the world, enhancing the ability to choose the best skills.
Diverse business community: The Hamriyah Free Zone hosts many companies from various sectors, creating an environment conducive to cooperation and interaction between investors.
In conclusion, this article on establishing a company in the Hamriyah Free Zone shows that this area is one of the best options for investors seeking a flexible and supportive business environment. The Hamriyah Free Zone in the Emirate of Sharjah offers a wide range of investment opportunities and competitive advantages that make it an ideal destination for small and large companies alike.
Establishing a company in the Hamriyah Free Zone allows investors to benefit from a range of advantages such as full foreign ownership, income and corporate tax exemptions, as well as customs facilities and simplified legal and administrative procedures. These incentives make it easy for companies to expand and grow in a competitive global market without being subjected to significant financial or legal pressures.
The Hamriyah Free Zone also enjoys a strategic location that connects the markets of the Middle East, Asia and Africa, opening wide doors for international trade and expanding business activity. This is in addition to the advanced infrastructure and logistics facilities that meet the needs of companies in various sectors, such as manufacturing, trade and warehousing.
Moreover, the Hamriyah Free Zone gives investors flexibility in choosing the type and size of the required facilities, whether offices, warehouses or industrial spaces, which helps reduce operating costs and increase business efficiency.
Ultimately, establishing a company in the Hamriyah Free Zone is a smart move for investors looking for a dynamic business environment that supports growth and expansion. Thanks to the facilities, exemptions and prime location, Hamriyah provides an ideal platform for companies to succeed and achieve their long-term business goals.
Top FAQs about setting up a company in Hamriyah Free Zone
Can foreigners set up a company in Hamriyah Free Zone?
Yes, foreign investors can own 100% of their companies without the need for a local partner.
What are the types of licenses available in Hamriyah Free Zone?
There are several types of licenses available such as commercial license, industrial license, and service license, depending on the type of activity you wish to practice.
Can profits be fully transferred outside the country?
Yes, companies in Hamriyah Free Zone can transfer profits and capital completely outside the UAE without restrictions.
What are the costs associated with setting up a company in Hamriyah Free Zone?
The costs vary depending on the type of company and the size of the business, and include commercial license fees, rental fees, and administrative services.
Can work visas be obtained for employees through the free zone?
Yes, the free zone provides the possibility of issuing work visas for employees working in the company.
