How to Establish a Business in the SHAMS Freezone
Starting a business in the SHAMS free zone can be a challenging task, particularly if you are unfamiliar with UAE's business practices. However, let us break down the necessary steps to simplify the process and make it more efficient.
Documents Needed for Forming an SPC Freezone Company
- No Objection Certificate (NOC)
- Application Form
- Copies of the registration certificate or trade license
- Audited financial reports for the previous two years
- Passport copies of all shareholders
Advantages of Establishing a Business in the SHAMS Freezone
- Registering a company or branch in SHAMS is a seamless and efficient process. It’s quick, easy, and hassle-free.
- SHAMS freezone license cost is very affordable.
- SHAMS provides a wide range of business activities tailored to meet the needs of any company.
- The SHAMS free zone allows companies to consolidate multiple businesses under a single license, as long as they operate in related fields.
- Opening accounts in the SHAMS free zone is very easy. With a simple and efficient process, investors are presented with a curated list of banks aligned with the SHAMS free zone.
- SHAMS does not impose the need for substantial share capital to establish your new company. Additionally, it eliminates the requirement for annual audits.
The Types of Facilities Available at SHAMS Freezone
SHAMS free zone offers a range of meticulously designed office spaces tailored to meet the unique requirements of businesses and their clients. Let’s explore some of the options available at SHAMS:
Dedicated Desks
A dedicated desk provides clients with an assigned space to conduct their business alongside like-minded entrepreneurs in related sectors.
Shared Desks
A shared desk, as opposed to a dedicated one, is a communal workspace entrepreneurs utilize. This option is particularly favored by those seeking networking opportunities and flexible work environments.
Dedicated Offices
A dedicated office is an individual workspace that provides a private and lockable environment. These offices are designed to foster collaboration while ensuring privacy for individuals.
Shared Offices
Shared offices provide businesses registered in SHAMS with valuable networking opportunities, leading to enhanced business prospects and expanded professional networks.
The Types of Companies That Can be Established in SHAMS Freezone
SHAMS LLC Company Formation
A SHAMS LLC, also known as a limited liability company, functions as an independent entity that provides separation between the owners and shareholders, thereby limiting their individual liabilities. The advantages of this structure are manifold, including the ability to operate independently, obtain licenses, secure sponsors, and open bank accounts. This is a good option for those interested in applying for a SHAMS e commerce license.
SHAMS Branch Company Setup
A SHAMS Branch setup is an entity that is affiliated with an established parent company. The branch enjoys all the gains and benefits, which are exclusively owned by the parent company. However, it is essential to note that all expenses, debts, or liabilities also come under the parent company’s ownership.