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Setting Up Your Business in SHAMS: A Step-by-Step Guide

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  • July 8, 2024

Sharjah Media City (SHAMS) is acknowledged as the most budget-friendly free zone in the UAE, with starting costs as low as AED 5,750. 

Founded in 2017, SHAMS, known as Sharjah Media City, is a relatively young free zone. It was discovered to have developed into a centre for the area’s creative and media landscape, and in the short period since its founding, it has gained popularity.

The facilities it offers are the primary factor in its appeal to entrepreneurs and various start-ups. Although other industries are served by this free zone as well, creative and media-based businesses are the ones who like to establish themselves here.

Shams fosters creativity and innovation among the businesses operating in the free zone. Unlike other media-free zones, Shams Free Zone requires minimal startup expenditures for the companies who establish themselves here.

Setting Up Your Business in SHAMS: A Step-by-Step Guide

Motives for Selecting SHAMS Free Zone

The number of businesses in the free zone is rising quickly for a number of reasons. Shams Free Zone was selected over other UAE free zones for the following reasons:

A Simple and Quick Registration Process

Because the registration process has been digitised, the investor can now register the firm fast. Shams has greatly improved the flexibility and comfort of obtaining a licence in the free zone. The investor can obtain a licence in two to three days and is not required to submit the No Objection Certificate (NOC).

Variety of Business Activities Available for Entrepreneurs.

One can select from various business activities to register in the Shams Free Zone. Both the businesses and the free zone can benefit from having a variety of business possibilities in one place since the former can ask for assistance from one another when needed and the latter can cater to a larger clientele.

Types of Licences Available for Business

In Shams Media City, businesses are typically eligible for four licences. The following four licences are:

  • Service Licence: The businesses that provide services must have this licence.
  • Trading Licence: This licence is necessary if the business engages in the sale and export of goods.
  • Industrial Licence: For businesses engaged in the manufacturing and production of commodities, this licence is required.
  • Holding Licence: This licence applies to businesses that own enough stock in another business to have decision-making power over that business.

A licence’s maximum number of activities can be expanded upon payment of a predetermined amount of money.

Simple Account Creation

Although it can be a challenging and time-consuming process, opening a bank account is simple in the Shams Free Zone. The investor will receive a list of banks that are affiliated with the Shams Free Zone, and they can select where to open an account.

Attendance of Shareholders

The incorporation of a new company in Shams Free Zone does not require the shareholders to be present in person.  The relevant paperwork can be signed by the connected parties and sent to the free zone or its registered agents. After that, the free zone will establish businesses and provide electronic versions of the paperwork needed to open a bank account.

Shams Free Zone differs from the other free zones in the UAE since it offers certain advantages that aren’t found in the others.

SHAMS

Steps to Setup your Business in Sharjah Media City Free Zone (SHAMS)

Step 1: Describe Your Business Idea

The first things you should do are determine the products, services you plan to provide, and the target market. From there, you can determine a niche market. A thorough market analysis of goods and services is necessary to determine the level of competition and identify competitors. A distinctive value offer could help you succeed in Shams Town’s cutthroat business climate. A profitable business starts with a compelling and well-defined concept.

Step 2: Select the Appropriate Business Framework

Making the right business structure choice is essential to starting your venture in Shams. A limited liability company (LLC), partnership, sole proprietorship, and other structures are available. Every structure has benefits and ramifications related to liability, taxes, and legal obligations of its own. Speak with financial and legal professionals to choose the best structure for your company’s aims and objectives.

Step 3:  Register Your Business with Shams

It’s time to register your business with Shams once your concept and organisational structure are complete. The procedure entails completing the paperwork and submitting the needed documentation following the guidelines established by the Shams authorities. To ensure a seamless registration procedure, make sure you supply accurate information and follow all legal formalities.

Step 4: Get the Licences and Permits You Need

If you want to do what’s right in the Shams Free Zone, you might need some particular kinds of licences and paperwork depending on your business type. These can be such things as trading licences, professional licences, necessary activity permits, and other documented permissions. To preclude future legal challenges, study the regulatory requirements corresponding to your enterprise and ensure that every permit is promptly obtained.

Step 5: Construct the Infrastructure for Your Company

Once the administrative and legal requirements are met, concentrate on establishing the physical framework necessary for your company’s operations. This includes setting up supply chains, hiring staff as needed, obtaining technology and office space, and developing office space. Make use of Shams’ resources and support services to speed up the setup process and increase the productivity of your company.

Step 6: Create a thorough business plan

Your entrepreneurial path can be mapped out with a clear business plan that outlines your objectives, approaches, and plans of action. Spend some time creating a thorough company strategy that includes your operational goals, marketing plans, financial estimates, and market analysis. To maximise your company’s performance and adjust to shifting market conditions, review and revise your plan frequently.

Conclusion

To sum up, Shams’s business setting has a multitude of prospects for ambitious business owners looking to launch their projects in a vibrant and active ecosystem. You can open the doors to success and start a fulfilling business path by using Shams’ tools and guidance in conjunction with this step-by-step instruction.

Recall that persistence, tenacity, and initiative are necessary for success in Shams’ corporate environment. Your entrepreneurial aspirations can come true and you can prosper in Shams’ thriving business environment with the correct mindset and strategic strategy. See our website or schedule an appointment right now to learn more about our services, which include business setup in the Meydan Free Zone and SRTIP, among others!

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