Why SHAMS City Free Zone is popular with businesses across numerous sectorskwsmedeveloper
Sharjah Media City (Shams) is the newest free zone launched in January 2017 in Sharjah, UAE. Sharjah presents a safe and progressive environment for free zone company formation as it also has two other free zones namely Hamriyah Free Zone and Sharjah Air Port Free Zone (Saif). The emirate of Sharjah has a fair share in UAE trade. Non-oil sector of UAE contributes nearly 70% of the GDP – 45% of which is contributed by Sharjah’s trading activities.
Shams free zone aims to be a world class hub for media and creativity in the region. The free zone issues business licenses to companies, freelancers and entrepreneurs who wish to setup business in Shams free zone. With a vision to make creative entrepreneurship accessible and inspire business growth, it is gaining popularity and is becoming one of the fastest growing free zones of UAE.
Why Choose Sharjah Media City Free Zone (SHAMS)?
1. General free zone benefits
The advantages of incorporating your company in SHAMS are many. Firstly, there are those benefits that you find in all free zones of UAE including SHAMS.
- 100% foreign ownership permitted
- 0% corporate or personal income tax
- 100% repatriation of capital and profits
- No Customs Duty
- Wide range of business activities
2. Cost effectiveness
Sharjah Media City provides cost effective solutions to business owners looking to incorporate their company in SHAMS. Compared to other free zones of UAE, SHAMS provides high value for money as well as wide range of business activities in its complete tax free jurisdiction. The license costs starts from AED 11, 500 which is very reasonable for aspiring business owners.
3. Quick and hassle free business setup
Shams free zone does not require shareholders to be physically present in UAE to incorporate their company. If you live outside of UAE but plan to setup business in SHAMS you can completely avoid the strenuous registration process you’d usually exert on paperwork as registration process in SHAMS is digitized which offers a very fast and seamless process. You will have your business license issued within 3 days at most.
Furthermore, KWSME ensures that the rest of process which includes immigration card and visa stamping gets completed in maximum of one month. Also workforce can be hired without any need for contract attestation from Ministry of Labor (MOL).
4. Flexible Office Options
At present, SHAMS offers shared desk facility. Creative entrepreneurs looking for co-working space to run their business can enjoy the flexible space and networking opportunities offered by shams. The facility is prepped with basic requirements and services such as meeting room, Wi-Fi connection and a printer.
Currently only shared desk facility is available. However, the city plans to provide more office space options when it is built i.e. dedicated desk, dedicated office and shared office. The city will also have facilities such as residential boulevard, a community plaza and numerous restaurants, shops and hotels.
5. Many types of licenses
Shams offers four types of licenses namely service license, trading license, industrial license and holding license. You also have the option to carry out wide range of business activities on the same business license.
6. Extensive customer support
Shams offers extensive and high quality support services whether it is technical help or to provide guidance on running a business. Shams also feature its registered companies on free zone online platforms such as its website and social media pages. It also helps new startups gain more exposure by letting them participate in big events.
7. Flexible visa package
Sharjah Media City offers allocation of up to 6 visas on a shared desk facility. Furthermore, Shams visas’ permit their holders to sponsor their family member and dependents.
8. Social Responsibility for Media
Although Shams is not limited to media activities, the free zone is dedicated towards adding value to the media sector in Sharjah. Therefore, Shams seeks out specialized individuals and people keen in media; it helps them build and enhance their skills by introducing them to international distinguished media experts who provide them with new and innovative ideas and prep them with the required skillset.