Sharjah Media City (SHAMS) is a well-organized and highly reputed Free zone in the Emirate of Sharjah, UAE. It offers business licenses for a huge number of business activities at a very affordable fee. The reputation of this Free zone has transcended boundaries within a short span of time and it currently hosts companies from more than 160 countries. SHAMS headquarters is situated at Sharjah and it has Office outlet in Dubai to cater the urgent requirement of Clients.
SHAMS Free Zone Authority is well known for its budget license packages starting from AED 8,050. The company registration process can be completed remotely within a time span of 2 working days.
The process of incorporation starts by filing an application for name approval of the Company, along with the passport copy and passport size photo of the Shareholders/ Directors. Single Shareholder Company is also permitted here and the same person can be the Shareholder, Director & Person in Charge of the Company.
The Single Shareholder is eligible for Investor Visa under the company while multiple Shareholders have the eligibility of Partner Visas. The Visas are applied after incorporation of the Company and investors get 3-year Visas, which can be renewed after that period without any hassle.
shams free zone
Capital required for Company – Any company incorporated at SHAMS Free zone Authority requires a Capital starting from AED 150,000. The total number of shares is 150, and each share having a value of AED 1000.
The legal structure of the company under SHAMS Free zone being Limited Liability Company (LLC), the Shareholders are liable for any default of the company only to the extent of the value of shares held by them under the company. The proof of Capital need not be shown to the Free zone and in effect, it makes it investors easy to register a company in Sharjah Media City just by paying the fee for a License.
Sharjah Media City Authority requires minimum documents and information to set up the company.
The documents required are
The Business Activity to be shown on the License and address of the Shareholder is also required.
Team WIS Consultancy will support the entire process starting from the name approval of the company. It will advise submitting a passport copy for a pre-approval in the case of some nationalities.
Company renewal just like the setup can be done remotely. Audit reports are not required by the authority.
Renewal fees are the same as setup fees. Audits reports are not required.
If you do not renew the company on time, monthly penalties will start accumulating. The fine after the first month is 1,100 AED. The following months will cost 100 AED each.
Sharjah Media City is quite straightforward with any amendments. The cost for the majority of them is 2,000 AED and personal presence is not required.
Amendments of the license will be free during the renewal.
Liquidation of a company in Sharjah Media City Free Zone authority takes about 3 weeks.
The price of the liquidation is 2,000 AED.
SHAMS free zone provides office space designed to serve clients and cater to their needs and requirements. All facilities will provide access to Wi-Fi, a printer, and a meeting room. The office space facilities are –
There are various reasons due to which the number of companies in the free zone is rapidly increasing. The reasons for choosing Shams Free Zone over other Free Zones in UAE are:
Here the investor can quickly register the company, which is due to the digitalization of the registration process. Shams has made getting a license in the free zone very flexible and comfortable. In order to get a license, the investor need not submit the No Objection Certificate (NOC) and can receive the license in two to three days.
There are various business activities available that can be chosen for registering in the Shams Free Zone. Having a wide range of business options in a single location can prove helpful to both the companies and the free zone as the companies can ask for help with the services amongst themselves and the free zone can serve a broader client base.
Four types of licenses are usually available to a business in Shams Media City. These four licenses are:
Opening a bank account is a difficult and time taking procedure, but in Shams Free Zone, it is straightforward to open a bank account. A list of banks that have a tie-up with the Sharjah Media City (SHAMS) will be provided to the investor and the investor can choose where to open their bank account.
In Sharjah Media City (SHAMS), the physical presence of the shareholders is not required for the incorporation of a new company. The related parties can sign the necessary documents and send them to the free zone or the registered agents of the free zone. The free zone will then set up companies and generate electronic copies of the documents which can be used to open up a bank account.
Some of these benefits are not available in the other free zones in the UAE, and this makes Sharjah Media City stand out from the rest of the free zones.