Sharjah, the third largest city in United Arab Emirates, is located at Persian Gulf on the Arabian Peninsula. The emirates shares its borders with Dubai in south, Ajman and Um Al Quwain in north, and Ras Al Khaimah in east. This emirate is the center of business and contributes 7.4% GDP to the country. It is a perfect destination for nature lovers and the center of tourist attraction.
Sharjah Airport Free Zone Authority (SAIF Zone)
Sharjah Airport Free Zone Authority (SAIF Zone) is the world’s first ISO Certified Airport Free Zone, established in the year 1995, located at the door step of Sharjah Airport. This free zone is designed in a way that can provide the most enticing business incentives in the region, which includes speedy services and less due diligence requirement. It is now becoming a center of attraction for the startup business entities. Currently, around 9,000 companies have register in this free zone. Starting from smart desk office to providing manufacturing unit, SAIF Zone provides all facilities.
Advantages of setting up a SAIF Zone company
Setting up a SAIF Zone company brings innumerable benefits. Let’s have a look:
- A foreign investor can avail 100% ownership.
- It has 100% repatriation of capital and profits.
- When it comes to taxes, the foreign investor is a free bird.
- There is no restriction for hiring the staff.
- It provides 24×7 operational freedom.
- It provides facility rental protection.
- It is Strategically located near Sharjah Sea Port and Sharjah International Airport.
- It has provision of business license issuance within 24 hours.
Types of licenses
In order to carry out the business, you first need to select the type of license based on your business activity. Here are the types of licenses provided by the free zone:
1. Commercial license
Investors with business activity of import, export, re-export, distribution consolidation of products or oil and gas trading, freight forwarding, precious metals, chemicals, aviation or ship trading, general trading, 3rd party logistics or others will be provided with the commercial license.
2. Service license
Investors whose business activity is business consultancy, management consultancy, accounting services, IT services or any other professional service provider is eligible to obtain a service license.
3. Industrial license
Investors who require the import of raw materials, manufacturing, assembling and exporting of finished goods will be provided with the industrial license.
SAIF Zone license costing
| License Type | Specific Business | Oil & Gas Business | Real Estate Business | Aviation |
|---|---|---|---|---|
| Commerce | AED 7,500 | AED 15,000 | AED 15,000 | AED 15,000 |
| General Trading | AED 15,000 | – | – | – |
| Service | AED 7,500 | AED 15,000 | AED 15,000 | AED 15,000 |
| Industrial | AED 7,500 | – | – | – |
Legal structures of the company
- Free Zone Establishment (FZE) – entity with one shareholder
- Free Zone Company (FZC) – entity with 2 to 5 shareholders
- Branch of foreign Company
- Branch of UAE Company
Facilities offered by SAIF Zone
- Smart office
- Full-fledged office
- Warehouse
- Temporary storage facilities
- Bunker facilities
- Labour accommodation
Registration process
The company registration involves only 3 simple steps:
- Submission of required documents.
- Upon receiving the approval letter, lease amount needs to be paid and the agreement needs to be signed.
- Collection of business license, along with lease agreement and keys for the facilities.
Conclusion
SAIF Zone is a developing free zone which caters to the needs of different businesses. Now, it is listed as one of the popular Free Zone in the eyes of those investors who want to establish a startup firm. So, if you are holding onto any business idea, do not think twice. Get your company registered in SAIF Zone by getting in touch with N. R. Doshi and Partners. Our business set up experts can help you in your core business set up.