Sharjah Media City Freezone (SHAMS)
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About Sharjah Media City
Sharjah Media City (Shams) has emerged as a thriving hub for media and creative companies in the UAE. Since its inception in 2017, this free zone has rapidly gained popularity due to its cost-effective company registration processes and a conducive environment tailored specifically for businesses operating in these sectors.
Shams has strategically designed its free zone to foster the growth and success of media and creative companies. By enabling the incorporation of businesses that complement and support the operations of media and innovative enterprises, Shams has created a symbiotic ecosystem. This mutually beneficial relationship allows companies within the free zone to thrive and prosper through collaborative efforts. Whether it’s specialized services, resources, or expertise, the synergistic nature of Shams’ business environment empowers companies to leverage each other’s strengths, driving innovation and growth within the dynamic media and creative industries.
Benefits of Company Setup in SHAMS
Establishing your company in the Shams Free Zone offers numerous advantages that greatly benefit your business operations. Here are some of the key benefits you can enjoy:
- Visa Allocation: With the shared desk facility option, companies can allocate up to 6 visas, providing flexibility in hiring and managing their workforce.
- No Initial Deposits: Setting up a company in Shams does not require any initial deposits, allowing businesses to conserve their capital for operational expenses.
- Investor Visas with No Age Limitations: Shams offers investor visas without age restrictions, allowing entrepreneurs of all ages to establish their businesses in the free zone.
- Appointment of Corporate Directors: Companies can appoint corporate directors, enabling them to efficiently structure their management and decision-making processes.
- Limited Liability: Businesses established in Shams benefit from limited liability, protecting the personal assets of the owners and shareholders.
- 100% Repatriation of Profits and Capital: Companies can freely repatriate 100% of their profits and capital, ensuring maximum financial flexibility and control over their earnings.
- Complete Foreign Ownership: Shams allows 100% foreign ownership, enabling international entrepreneurs and investors to have complete control over their business operations.
- Tax Exemptions: Companies in Shams are exempt from corporate and personal income taxes, enabling them to maximize their profits and reinvest in their growth.
- Strategic Location: The Shams Free Zone is strategically located in Sharjah, just 5 minutes from Sharjah International Airport and 25 minutes from Dubai International Airport, providing convenient access to major transportation hubs.
By choosing to establish your company in the Shams Free Zone, you can benefit from a business-friendly environment that offers a range of advantages designed to support your venture’s growth and success. From visa allocation and investor visas to tax exemptions and complete foreign ownership, Shams provides a comprehensive ecosystem tailored to the needs of businesses in the media and creative industries.
Incorpyfy’s team of experts can guide you through setting up your company in Shams, ensuring that you leverage these benefits to the fullest extent and gain a competitive edge in the dynamic UAE market.
Cost of Business Setup in Sharjah Media City Free Zone
One key advantage of establishing your business in the Sharjah Media City Free Zone (Shams) is the cost-effective setup process. Incorpyfy understands the importance of managing costs, especially for startups and small businesses, and we strive to provide transparent and competitive pricing for our clients.
The cost of Business Setup in Shams Freezone can vary depending on several factors, including the type of business activity, the legal structure chosen, and the specific requirements of your venture. However, generally, the costs associated with Company Registration in Shams Freezone can be categorized as follows:
- License and Registration Fees: These fees are charged by the Shams Free Zone Authority for processing your company registration and issuing the necessary licenses. The fees may vary based on the type of business activity and the legal structure you choose, such as a Free Zone Establishment (FZE) or a Free Zone Company (FZCo). Typical costs range from AED 15,000 to AED 25,000.
- Share Capital Deposit: Depending on the legal structure you select, you may be required to deposit a certain amount as share capital. This amount can range from AED 10,000 to AED 50,000 or more, depending on the nature of your business.
- Visa and Immigration Fees: If you plan to sponsor employees or obtain investor visas, you must factor in the costs associated with visa processing and immigration-related fees. These fees can include visa application fees (AED 3,000 – AED 5,000 per visa), medical examination fees (AED 500 – AED 1,000 per person), and Emirates ID registration fees (AED 370 per person).
- Office or Workspace Rental: Shams Free Zone offers a range of office spaces and workspace options, from shared desks (AED 5,000 – AED 10,000 per year) to fully furnished offices (AED 25,000 – AED 100,000 per year or more, depending on size and location).
- Service Charges: The Shams Free Zone Authority may charge additional service fees for certain services, such as document attestation (AED 200 – AED 500), company name reservation (AED 500 – AED 1,000), and other administrative tasks.
- Professional Fees: If you choose to work with a business setup consultant like Incorpyfy, you will need to consider the professional fees associated with our services. These fees cover the expertise, guidance, and support provided by our team throughout the entire Business Setup in Shams Freezone process. Professional fees can range from AED 5,000 to AED 15,000 or more, depending on the complexity of your requirements.
At Incorpyfy, we believe in transparency and providing accurate cost estimates upfront. Our team will work closely with you to understand your requirements and provide a detailed breakdown of the costs involved in Company Registration in Shams Freezone.
By partnering with Incorpyfy, you can benefit from our extensive knowledge and experience in navigating the business setup landscape in Sharjah and the UAE. We strive to optimize costs without compromising quality or compliance, ensuring you can establish your business efficiently and cost-effectively in the dynamic Shams Free Zone.
Types of Licenses Offered in Sharjah Media City Free Zone
The Sharjah Media City Free Zone (Shams) offers a range of licenses tailored to cater to the diverse needs of businesses in the media and creative industries. These licenses enable companies to engage in various activities within the free zone, taking advantage of the numerous benefits and incentives provided. At Incorpyfy, we can guide you through the different types of licenses available and assist you in selecting the most suitable option for your business.
Here are the main types of licenses offered in the Sharjah Media City Free Zone:
- Commercial License: This license is designed for companies engaged in commercial activities such as trading, importing, exporting, distribution, and general trading within the free zone. It allows businesses to carry out commercial operations and take advantage of the free zone’s strategic location and logistics facilities.
- Service License: The Service License is suitable for companies providing various services, including consulting, advertising, marketing, design, media production, and other professional services related to the media and creative industries.
- Industrial License: Companies involved in manufacturing, production, or industrial activities within the free zone can obtain an Industrial License. This license enables businesses to establish manufacturing facilities and benefit from the free zone’s advanced infrastructure and supportive environment.
- Media License: This license is specifically tailored for businesses operating in the media sector, such as television and radio broadcasting, film production, publishing, and other media-related activities.
- Professional License: The Professional License caters to businesses offering specialized professional services, such as legal, accounting, consulting, or other advisory services within the media and creative industries.
- Educational License: Shams offers an educational license for companies providing educational services and training programs or conducting workshops and seminars related to media, creative arts, or other relevant fields.
At Incorpyfy, our team of experts has in-depth knowledge about the various licenses offered in the Sharjah Media City Free Zone. We will work closely with you to understand your business activities, objectives, and requirements and recommend your venture’s most appropriate license type. We aim to ensure that your business fully complies with the free zone regulations while maximizing the benefits and opportunities available within Shams.
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Requirements for Obtaining a Sharjah Media City Company Setup License
| Documents | LLC (Individual Shareholder) | LLC (Corporate Shareholder) | Branch |
|---|---|---|---|
| Application Form | Required | Required | Required |
| Memorandum of Association (MOA) | Required | Required | Required |
| Articles of Association (AOA) | Required | Required | Required |
| Passport Copies of Shareholders/Directors | Required | Required | Required (Parent Company Directors) |
| Proof of Residence for Shareholders/Directors | Required | Required | Required (Parent Company Directors) |
| Board Resolution | N/A | Required (For Parent Company) | Required (From Parent Company) |
| Share Capital (Minimum) | AED 300,000 | AED 300,000 | Determined by Parent Company |
| Local Service Agent | Required | Required | Required |
| Appointment of Manager/General Manager | Required | Required | Required |
| Lease Agreement or Tenancy Contract | Required | Required | Required |
| Business Plan | Recommended | Recommended | Recommended |
| No Objection Certificate (NOC) | If required for specific activities | If required for specific activities | If required for specific activities |
| Parent Company Documents | N/A | Required (Certificate of Incorporation, Memorandum & Articles, Share Certificate, etc.) | Required (Certificate of Incorporation, Memorandum & Articles, Share Certificate, etc.) |
| Bank Reference Letter | Recommended | Recommended | Recommended |
| Professional Qualifications/Certifications | If required for specific activities | If required for specific activities | If required for specific activities |