Embark on a transformative journey of business success with Alghaf Golden’s expert guidance. Our dedicated team simplifies the process of establishing a company in the Hamriyah Free Zone, ensuring a smooth experience in the dynamic business landscape. Discover unparalleled advantages, strategic opportunities, and a hassle-free establishment process. Let Alghaf Golden be your trusted partner in unlocking the full potential of your business venture in the Hamriyah Free Zone.
Are you an investor or business owner who wants to establish your business in Sharjah? Let’s look at the Hamriyah Free Zone. Free zones or free trade zones are designated business zones in which companies operating within them are exempt from taxes. Those who start a business also enjoy benefits such as 100% ownership.
What is Hamriyah Free Zone and why is setting up a business here beneficial for business owners? Here is an overview of the Sharjah Industrial Area.
Hamriyah Free Zone in Sharjah
Also known as Hamriyah Free Zone, the Sharjah Industrial Zone was established in 1995. Home to approximately 6,500 companies from over 163 countries, the zone is located in Sharjah, the third largest emirate in the UAE. With the Gulf of Oman to the east and the Arabian Gulf to the west, the emirate also has a favorable geographical outlook. Sharjah also benefits from its strategic location between the Far East and Europe, providing access to important emerging markets in countries such as Saudi Arabia, India, Iraq and Iran.
Why establish a company in the free zone?
The Emirate of Sharjah is the only one with ports on the coast of the Arabian Sea and the Persian Gulf, making it an integral part of the global supply chain with access to global maritime networks. Hamriya Port is an export center for global markets. The prime coastal location is enhanced by Sharjah’s well-connected road network which also connects the area to Oman, Bahrain and elsewhere. Aside from being a hub for oil and gas companies, other highlights include the HFZA Maritime City where investors can leverage opportunities such as shipbuilding, repair, marine manufacturing and others.
Advantages of establishing a company in Hamriyah Free Zone
In addition to strong land, sea and air connectivity, establishing a company in the regions – particularly through the Hamriyah Free Zone Authority – has the following advantages:
- Full foreign ownership
- Short and long term rental options, renewable
- Access to the GCC and UAE markets
- Online service for visas, renewals and other requests
- Special VAT benefits
- 24 hour security
- Fixed rental rate for the land for the first 10 years
- Investors can develop plots of land by up to 60%
- Communications infrastructure
- Good road network, electricity and water infrastructure
- On-site customs facilities and workers’ accommodation
Starting a business in Hamriyah Free Zone
How can I start a free zone project in the UAE? Business owners looking to expand or start a business in the country may have asked the same question. Thanks to the mentioned advantages, many of them turned to Hamriyah Free Zone. Moreover, the convenient setup process is also a major advantage.
Setup process
The Hamriyah Free Zone Authority offers three types of legal status:
- An establishment in a free zone (FZE) with a shareholder
- Free Zone Company (FZC) with 2 to 5 shareholders
- A branch of a local or international company
Regardless of the type of license required, business owners can register companies in the Hamriyah Free Zone in 3 steps:
- Submit signed application forms with the required documents.
- paying off.
- Retrieve the commercial license.
The documents required for the application differ for a free zone facility and a branch. For example, free zone company requirements include a copy of the passports of the shareholder and director. The subsidiary’s documents include the certificate of incorporation, a copy of the parent company’s license, the certificate of incorporation, and other details.
Read also: A complete guide to free zones in Dubai
