Company Formation in Sharjah Media City Free Zone
Sharjah Media City free zone, also known as SHAMS, is one of the fastest-growing free zones in the UAE. Launched in 2017, SHAMS is a hub for entrepreneurs in the creative field. Furthermore, the free zone is near Sharjah International Airport and Dubai International Airport.
Shams Media City offers pocket-friendly resources for businesses in all stages, from startups to large multinational companies. The free zone is home to over 200 business activities, from accountancy to wholesale.
Additionally, it offers many opportunities to entrepreneurs and investors looking to grow their companies quickly. Moreover, these opportunities enable entrepreneurs to establish a presence locally and internationally.
Types Of Business Structures In Shams Free Zone
Three types of structures are permissible in the free zone. These include:
- Limited Liability Company (LLC) (individual)
- Limited Liability Company (shareholders)
- Branch company
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Why Set up a Company in Sharjah Media City?
Shams offers minimal upfront and renewal costs. It is also one of the few free zones in the country that provide hassle-free registration processes in the UAE. In addition, regardless of where you are based worldwide, you can register your company within just a week. The various benefits of Shams business setup include:
- 100% foreign ownership
- Full repatriation of capital and profits
- Strategic location boosting opportunities
- Shams activity list is quite big
- Simple and quick set-up process
- World-class infrastructures
- Leasing options
- Global connectivity
Facilities Offered In Shams Free Zone
The free zone offers world-class facilities for companies looking to form a company in the jurisdiction. Some of these include:
- Flexi-desk
- Shared office space
- Creative spaces such as studios, showrooms, and more
Shams Free Zone License
There are various types of trade licenses offered in Shams free zone. These include:
- Industrial license
- Trading license
- Service license
- Holding license
- Freelance permit
- E-commerce license
Although the name Sharjah Media City free zone suggests that the jurisdiction specifically caters to media-related activities only, it is not restricted to just that. It offers approximately 120 activities, allowing investors to combine different business activities under one Shams business license.
Shams Free Zone License Cost
Shams license costs start from approximately AED 5,750*. However, the price may vary depending on the nature of your business.
License Renewal In Shams Free Zone
The renewal process of businesses in Shams is highly cost-effective and straightforward. Moreover, the free zone does not require an annual audit report to renew your Shams free zone license.
To complete the process of your company’s license renewal, you will need to pay the shams license renewal cost and submit the signed lease agreement of your facility. Furthermore, another advantage of having a company in Shams is that your physical presence in the UAE isn’t required for renewal and can be carried out by an agent.
Company Liquidation In Shams Free Zone
Similar to renewal, company liquidation also does not need the owner’s physical presence and can be accomplished through a corporate agent. You will, however, be required to pay the government fee to complete the liquidation process.
The company liquidation process takes about one month and involves the following steps:
- Cancellation of visas
- Termination of lease agreement
- Closure of bank account
- Clearance from customs if your business was involved in trading
To learn more about various options available for Shams business setup, contact Shuraa – one of Dubai’s best business setup companies. Shuraa helps solve your business-related queries and offers you the best-suited solutions for your Shams company formation in the UAE.
To start your business journey and learn more, contact our expert consultants at +97144081900 or send a WhatsApp message at +971507775554. You can also drop in an email at [email protected] and get your queries answered in no time.
Frequently asked questions about Shams free zone:
Yes, you can renew your license remotely via a registered agent with just an authorisation letter and renewal fees.
It takes less than a week to get your license and start your business in the Shams free zone.
No, you will have 100% ownership and are not required to have a local partner to start your company. However, certain activities might require some level of control from the government.
The Sham business setup takes 2-3 working days after the submission of the application and required documents. Shuraa’s experts can help you get the license as soon as possible.
Shams provides various activities related to media, broadcasting, public relations, consultancy and advertising. There are several sub-sectors within these activities that you can choose from when selecting the activity for your company setup.
