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Commercial License in Sharjah: 2024 Guide

Commercial License in Sharjah: 2024 Guide All Business Setup. Corporate PRO, VISA Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us If you’re planning to start a business in Sharjah, UAE, you’ll need a commercial license. This license, issued by the Sharjah Economic Development Department (SEDD), allows businesses to trade, import, export, and store goods legally. What is a Commercial License? A commercial license is a legal document that gives businesses the right to operate in Sharjah. It covers various activities like selling products, importing goods from other countries, and storing or distributing items within the emirate. How Much Does It Cost? The cost of a commercial license in Sharjah can range between AED 5,000 to AED 30,000, depending on your business type and activities. This price covers the legal permission to run your business in the region. Types of Commercial Licenses There are different types of commercial licenses available, depending on what your business does. These include: General trading license: For businesses that want to trade in multiple products. Specific trading license: For businesses that focus on a particular product category. Import/export license: For companies involved in international trade. E-commerce license: For online businesses. Who Can Apply? Both individuals and companies can apply for a commercial license in Sharjah. If you’re an individual, you need to be at least 21 years old. UAE nationals can own the business fully, while foreign nationals must have a local sponsor who owns 51% of the company. For companies, Limited Liability Companies (LLCs) need a minimum of two shareholders, while foreign companies can set up branches with 100% ownership in certain sectors. How to Get a Commercial License Initial Approval: First, you’ll submit a business plan and choose a company name, which the SEDD will review. Documentation: After approval, you need to provide documents like passport copies, visa information, tenancy contracts, and a business plan. Final Submission: Submit all documents along with the application form and pay the necessary fees. Once everything is reviewed, your commercial license will be issued. Maintaining and Renewing Your License Commercial licenses in Sharjah are valid for one year and must be renewed annually. The renewal process usually starts 30 days before the license expires. You’ll need to submit renewal forms, lease agreements, and pay fees (usually between AED 10,000 to AED 15,000). Benefits of a Commercial License A commercial license in Sharjah offers many benefits: Legal permission to operate within the UAE. Ability to import/export goods and trade in various markets. Easier access to bank accounts, office spaces, and government support services. The option to sponsor visas for employees. Holding a commercial license can also increase your company’s credibility and help you build trust with customers. Call Us 24/7 971 56 993 1404/02 OR Get Your Consultation FREE! Request Appointment

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2024 Guide : How to Start a Business in Sharjah

Business Setup in Sharjah #BeABusinessTycoon Apply Online Contact us How to Start an Business in Sharjah ?,  Here’s Your Guide     Business Setup in Sharjah offers a diverse range of choices for investors seeking to establish themselves in the Emirate, including licensing authorities and free zones.From adaptable alternatives for first-time start-ups to more intricate frameworks for larger enterprises, Sharjah accommodates to all desires and ambitions. Sharjah is located only 20 minutes from Dubai, and well-connected by public transport. Sharjah has its own international airport as well as three seaports, and in addition hosts a third of all manufacturing activity in the United Arab Emirates.   What are the Types of Business Entities in Sharjah? Sharjah is one of the tax haven emirates of the UAE and business setup in Sharjah mainland or freezone is beneficial for foreigners. The type of business entities in Sharjah include: Limited Liability Company: This type of business requires partners not more than 50, but less than 2. It is the most common type among investors as the liability of the partner is limited to the investment in the company Partnership Company: This includes partnering between 2 or more individuals, where liability is limited to the extent of their shares to the company’s liabilities. Local Service Agent: This type of company is generally managed by a single person. And if the individual does not have a UAE or GCC national, then it must be backed by a local sponsor, who is a UAE national. Public/Private Shareholding Company: A public shareholding company has the feature where the share capital is equally divided into tradable shares. A private shareholding company is subject to rules of public joint stock companies. 3 Types of Business Jurisdictions in UAE In the United Arab Emirates, a company can be set up in three jurisdictions: Freezone, Mainland, and Offshore. The companies established in these jurisdictions are supposed to comply with the predetermined set of rules and regulations. Mainland Freezone offshore Mainland companies are licensed by the Department of Economic Development (DED) of the respective emirate. They can operate both within and outside the UAE. Local Market Access: Mainland companies can do business anywhere in the UAE, including the local market. Office Location: Flexibility to open an office anywhere in the UAE. Business Activities: No restrictions on the types of business activities. Government Contracts: Eligibility to bid for government projects and contracts. Local Sponsorship : Not Mandatory for all Business Freezone companies are established in designated areas that offer specific economic benefits. Full Ownership: 100% foreign ownership is allowed. Tax Benefits: Often enjoy tax exemptions, such as no personal or corporate income taxes. Repatriation: 100% repatriation of capital and profits. Simplified Procedures: Easier and faster company setup procedures. Customs Duty Benefits: Exemption from import and export duties within the freezone. Specific Activities: Some freezones are specialized and restrict the type of business activities. Offshore companies are set up for international business operations outside the UAE. Full Ownership: 100% foreign ownership is allowed. Privacy: High level of confidentiality and privacy. Tax Benefits: No taxes on income earned outside the UAE. Cost-Effective: Lower setup and operating costs. No Physical Presence: Cannot have a physical office in the UAE or conduct business within the UAE. Restrictions: Limited to international business activities, primarily for holding, asset protection, and international trading. List of Free Zones in Sharjah Dubai has Most Freezones in UAE,For Freezones in Dubai click here. FREEZONE Sharjah Publishing City Hamriyah Free Zone Sharjah Media City – Shams Sharjah Airport International Free Zone The Sharjah Research, Technology, and Innovation Park Sharjah Oasis for Technology and Innovation (SOTI) Sharjah Healthcare City Frequently Asked Questions Here are answers to the most frequently asked questions. Can foreign nationals own 100% of a company in Dubai? Yes, a foreign national is eligible for 100% ownership of a free zone/Offshore and In Mainland  specific business company in  UAE. Can foreign nationals register a company in UAE ? Yes, foreign nationals can easily register a business in UAE. Professional assistance is necessary for aspects like licensing, visa issuance, and bank account opening, and a business setup consultant in Dubai can assist you with this. Can I start a business in Dubai or UAE without an office? Yes, Dubai/UAE  allow you to register and own businesses without the need for a physical office space. Can I secure visas for my dependents through a free zone business in the UAE? Yes, you can easily sponsor your spouse and children through a free zone business license.You are Eligible for Family Visa What are the different types of business licenses issued in UAE? The three(3) most prominent licenses available in UAE are professional, commercial, and industrial.  Professional license: A professional license permits offering specialized services such as consultancy, accounting, legal advisory, and so on. This license is required for skilled professionals looking to set up businesses and deliver services based on their intellectual or artistic capability. Commercial license: A commercial license is granted for businesses involved in trading activities and is required to legally conduct activities such as import and export of goods within and outside the UAE.  Industrial license: An industrial license is needed for businesses conducting activities such as manufacturing, packaging, segregation, etc. What documents are required to start a free zone business in UAE? The following documents are required from the shareholder(s) and manager(s) for free zone company formation : Passport copy Latest UAE entry stamp/visit visa copy Residence visa copy and Emirates ID (for UAE residents) Address proof Passport-size photo Please note that in addition to these, you may be required to submit additional documents. Consulting with a Tycoon business setup company will help you gain more information in this regard. Business Setup Corporate PRO VISA Services Business Consulting Attestation Call Us 24/7 971 56 993 1404/02 OR Get Your Consultation FREE! 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