Here is an overview of the industrial zone in Sharjah. The industrial zone of Sharjah, formerly known as the Al Hamriyah Free Zone, was established in 1995. With over 6,500 companies from 163 countries, this industrial zone is located in the Emirate of Sharjah in the United Arab Emirates.
In addition to its role as a hub for oil and gas companies, other highlights include the HFZA Maritime City, where investors will receive opportunities for shipbuilding, repair and offshore manufacturing, among other things. This prime coastal location is further enhanced by Sharjah’s well-connected road network linking the region with Oman and Bahrain. As far as warehousing and commercial space is concerned, Sharjah offers investors a range of prefabricated units from 276 m ² to 614 m ² in size. The Hamriyah Free Zone has a variety of storage facilities equipped with offices for business owners.
The most important factor that distinguishes Hamriyah FZ from many other free zones in the UAE is its economy. This means that starting a business at a low cost has the same benefits as are available in most other free zones in the country. It is feasible for SMEs and micro-enterprises due to its wide range of business opportunities and low costs. Due to the availability of warehouses, there are also large sponsors from the industry.
The Hamriyah Free Zone License offers different packages depending on the type of company. There are five options in the Hamriyah Free Zone. The cost of these packages is different and divided into different sub-packages. The cost of setting up a business depends on the choice of package.
This is important because you do not need to be a resident of the United Arab Emirates and the residence visa can be cancelled after a stay of more than 6 months. The fees for a residence visa in the Hamriyah Free Zone start at $4,200. The investor visa is issued for 3 years and the work visa for 2 years.
Residence visas are issued to investors and employees. Ras Al Khaimah (RAK) ICC: 5.25% Establishment: 10.50% Annual Fee: 15.75% Free Zone Company Incorporation: UAE Startup Package: 1st Year After establishing a Free Zone Company in the UAE, enjoy the privileges of onshore presence in the UAE, tax-free international trade, open bank accounts in the UAE and UAE property in Dubai and RAK. [Sources: 8]
All business activities are welcome in the Hamriyah Free Zone. The Free Zone Establishment (FZE) is a limited liability company established in the Free Zone. The minimum capital requirement for the inclusion of the FZE is DHS150,000 (possibly USD 40,000) for land and warehouses.
Commercial License: The commercial license allows the holder to import, export, sell, distribute and store items specified in the license. Service License: This license allows holders to perform the services specified on the license within the Hamriyah Free Zone.
Establishing a business in a free zone is relatively easy. The relevant authority for the free zone has certain industrial sectors and enterprises governed by other government entities. The authorities of the free zone require a minimum of paperwork and duration. Here are some important steps towards establishing businesses in the Hamriyah Free Zone.
Depending on this, you will need to apply for the appropriate license. The process of establishing a business in the Hamriyah Free Zone is the process in other Free Zones and more or less the same documents are required. To start the process, you decide which business you want to do.
Like other free zones, the Hamriyah Free Zone Authority faces different challenges, and considering the global presence of Abu Dhabi and Dubai Free Zones, we are not alone in this race. We try to ensure that our management as a free zone is flexible, dynamic and investment-oriented.
For example, the registration fee for a Hamriyah FZ company to operate in the Free Zone (FZE) is DHS9,000 (US $2,450), and ongoing operating costs are highly competitive. There are no restrictions on repatriating capital or profits to another country, and the FZ’s structure is the perfect way to book international profits without paying local corporate tax. Corporation tax and income tax are levied in both countries. The requirement for the company to prepare financial statements and file tax returns with the authorities facilitates administration and registration of the company is cost-effective compared to other UAE free zones and only takes 24 hours to obtain the correct documentation.
When the Hamriyah Free Zone was established by the Emiri Decree, investors were guaranteed investment security and the full return of profits and capital. All service activities, commercial trading activities and industrial production activities are licensed in the Free Zone. Industrial activities are allowed in the zone as long as they comply with local rules.
In the Dubai Airport Free Zone, you can set up an FZ Co with a minimum capital of AED 1,000. The denomination must be AED 1000. In the Hamriya Free Zone you can purchase an FZE with a share capital of up to AED 150,000 (i.e. For the DMCC, the minimum capital required to establish a free-zone company is 50,000 AED and the company must have 10,000 AED shareholders. In order to obtain a general trading licence, a company must have a share capital of at least one million Aed.
The service fee (USD) for the registration of a company in the Hamriyah Free Zone includes the license, the rent of an office in the Hamriya Business Center, the stamp for the establishment of a company, the service of the e-channel registration . Corporate tax, stable banking system, ability to work in U.S. dollars, rapid registration of companies, the ability to create substance in the country of registration, and the ability to obtain a residence visa for shareholders and employees of the company.
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