Rolled out by Sharjah Media City (Shams), the Dh5,750 package is exclusively designed for the formation of media companies in the free zone. It includes a professional/service trade license issued by Shams and allows entrepreneurs to choose any one of the 13 listed activities. Adding more activities costs Dh1,000 per activity.
The activities include – advertising, digital marketing, programming and consultancy, media production, photography, web portal, printing, market research, graphic design, fashion design, interior design, publishing, and translation services.
Although the package serves as one of the most affordable company formation options and is open for all, it does not include any visas, which is one of the prerequisites for opening a bank account in the UAE. Since having a local bank account makes financial transactions convenient for businesses, it makes more sense for people with UAE residency visas to apply for the Shams media license. The package is suitable for startups as the investment is quite low, employed residents looking for a side hustle, and owners of existing businesses seeking expansion.
For aspiring media entrepreneurs, the package serves as a reasonable means of starting their own legal business and gaining hands-on experience. With this license, one can have 100% foreign ownership of their business with a limited liability corporate structure. Furthermore, the documentation process is simple – requiring submission of a photograph and copies of passport, visa, and Emirates ID – and can be done remotely.
The author is a corporate advisor, free-zone specialist at Shuraa Business Setup
Source: https://gulfnews.com/business/retail/start-your-uae-business-for-dh5750-only-1.1619691844546
