The Sharjah Airport International Free Zone (SAIF-Zone) was established in 1995 and it is one of the main business centers of the United Arab Emirate. SAIF zone is located next to the International Airport of Sharjah and so called Sharjah Airport International Free Zone. The SAIF zone hosts over 5,000 companies from more than 150 countries.
Business Activity in Sharjah Airport Free Zone
Sharjah Airport Free Zone offer a wide range of business activities including import and export, IT services, media, logistics, consumer durables, trading, publishing, advertising, light to medium manufacturing and many more.
Main characteristics of Sharjah Free Zone Company formation
Following are the main characteristics of Sharjah Free Zone Company formation
|Company type||Free Zone Limited Lliability Company|
|Information published relating to company officers||No company directors names are disclosed|
|Taxation||No corporate or personal taxation|
|Accounting requirement||Accounts and auditing are required|
|Standard currency||UAE dirhams pegged to USD|
|Legislation||Sharjah International Airport Free Zone Authority|
|Governing corporate legislation||Sharjah International Airport Free Zone Authority|
|Communication||Efficient means of communication|
|Local sponsor requirement||Not needed|
|Number of directors needed||Minimum one director|
|Residence visa issuance||Residence visa issued|
|Time to form||10 working days|
Incomparable Convenience of company incorporation in SAIF zone
The company incorporation in SAIF Zone has competitive lead due to its strategic location at the cross roads of most important trade routes linking the east and the west. As a business hub, it offers an access to more than 2 billion consumers across the GCC, South Asia, CIS, parts of Africa and the Mediterranean.
Sharjah is a unique trade bridge that makes company incorporation in SAIF Zone unmatchable solution for company setup in free zones. Linking the Arabian Gulf and the Indian Ocean, this bridge makes the SAIF Zone the ideal business hub in the Middle East.
ZAIF Zone has a proven promise to provide investors with the perfect and thrilling conditions for company incorporation in saif zone. By way of example, the Sharjah Airport Free Zone is regularly improving its value-added services, office and industrial unit facilities, infrastructure and technical and scientific expertise.
Advantages of Sharjah free zone company formation
There are distinct advantages of Sharjah free zone company formation. With a trading history dating back to the early 18th century, Sharjah today accounts for more than 45% of all industrial activity in the UAE.
The cost of Sharjah free zone company formation is less than in any other emirate of the UAE, and the focus on industrialization has in recent years turned Sharjah into a commercial hub registering an annual growth rate of 13%.
The Sharjah Chamber of Commerce, Sharjah airport international free zone authority and the Government of Sharjah are exceptionally pro-active and business savvy entities geared to provide all support to potential businessmen.
In addition to tax-free operation and an absence of red-tape, the Sharjah airport free zone offers unbeatable trade advantages and matchless benefits to investors:
* 100% repatriation of capital and profits in Sharjah airport free zone
* 100% foreign ownership allowed in Sharjah airport free zone
* 100% exemption from income and corporate taxes
* Sponsorship and visa’s for all staff
* License issued within 24 hours in Sharjah free zone
* 24 hour hotline for equipment and provision of labour
* On site labor accommodation
* Competitive structure of fee, property and management
* Access to over 2 billion customers Strategic location
* Simplified procedures
* Global and regional communications with excellent air, land and sea links
* Back up services provided by the Sharjah Chamber of Commerce and Industry and the Sharjah Expo
* No restriction on hiring of 100% expatriate workers, and many more.
What are the types of company formation in SAIF Zone Sharjah?
There are three types of legal entities that can be setup in Sharjah Airport Free Zone (SAIF Zone Sharjah).
Free Zone Company (FZCo)
Two or more shareholders can set up a Free Zone Company in SAIF Zone (Sharjah Airport International Free Zone) with a minimum capital of AED 150,000. In normal cases the maximum no# of shareholders allowed in SAIF Zone is up to 5 and if approved by SAIF Zone the maximum no# of shareholders can go up to 7. Liability shall be limited to the FZC’s share capital.
Free Zone Establishment (FZE)
A single shareholder can form a Free Zone Establishment in SAIF Zone Sharjah. The shareholder can be a natural person or a corporate structure. There shall be only one shareholder in a Free Zone Establishment (FZE). The smallest capital required for a FZE is AED 150,000. Liability of a Free Zone Establishment shall be limited to the FZE’s share capital.
Branch of a Company
Companies established in UAE or in foreign territory can setup their branch in SAIF Zone. A company register in a foreign territory, if authorized by its documents, can open a branch of their company in SAIF Zone. The SAIF Zone branch of such company shall have the same name as that of the original company. A company incorporated in UAE, can form a branch of their company in SAIF Zone when the parent company submits all the necessary documents to this effect.
What is the business activities allowed in Sharjah Airport Free Zone?
SAIF Zone offers 4 types of business licenses for various business activities.
General Trading License
A general trading license has a large number of products fall within its range. This type of license is classified under the commercial license.
Service license allows the owner to carry out service or consultancy activities that are speciﬁed in the license.
Commercial license is useful for activities like import / export, consolidate, distribute and store items specified in the license from SAIF Zone. There is a limit on the number of similar product lines that is (3).
An industrial license from Sharjah Airport Free Zone allows the investor to involve in activities such as processing, manufacturing, packaging, assembling etc.