Company formation in a free zone has never been simpler than at the Sharjah Airport International Freezone (SAIF Zone). Located just outside the picturesque city of Sharjah which focuses on maintaining cultural heritage, the SAIF Zone provides nearby access to the mainland, as well as easy access to the Sharjah International Airport, located within 5 minutes drive of the SAIF Zone, and Sharjah Industrial areas. Sharjah’s active role in the markets, as well as its easy access to regional business hubs, provides an attractive incentive for investors. It also provides quick access to nearing seaports, which open the UAE up to the Omani market, through the Port Khor Fakkan, and the rest of the Gulf through Port Khalid. In this article, we discuss the business environment surrounding company formation in SAIF Zone.
The perks of free zones are well-known, particularly in providing 100% ownership to foreign individuals; however, the SAIF Zone, in particular, allows the advantage of not only easy, 24-hour licensing services, but also provides exemptions to import-export duties, and a general tax-free environment. Everything from temporary to more permanent warehouse space to labour housing can be provided on-site from the SAIF Zone. The Zone licenses a number of business activities, including providing industrial, commercial, general trading, and service licenses.
Along with the perks of the market, Sharjah offers a competitive cost of living, along with affordable electricity and water costs. Company structures for SAIF Zone companies include Free Zone Establishments (FZEs) along with Free Zone Companies (FZCs) and branches of local or foreign companies. Incorporation of companies in the SAIF Zone can be done with STA law firm and can take a short amount of time, including 1-2 days for the formal incorporation process. The licenses provided in the SAIF Zone are of greater ease to clients; unlike most free zones, the SAIF zone provides two-year licensing options, as well as lease contracts. Therefore, it is the aim of the SAIF zone not merely to provide for the needs of companies incorporated within it, but rather to dynamically engage the market, and to meet its needs before they even arise.
The cost of setting up a company in the SAIF Zone is increasingly affordable – aside from legal costs associated with company formation – companies may incorporate in the SAIF Zone starting from AED 18,500, providing for 3 visas to AED 23,000 for 5 visas, and 39,000 for 10 visas, all inclusive of desk and office space. The process of incorporation has never been quite so simple. Aside from general project summaries, STA law firm can help with the process of registration, incorporation, and, in the case of the opening of a branch, a board resolution.