If you are considering opening a business in the UAE, you may have come across the free zones in Shams. These companies have the advantage of operating multiple types of businesses under one trade license. Once you get shams’ free zone license, your company can be run from anywhere in the world. However, there are several considerations that you should keep in mind when obtaining a license.
You need to pay a certain amount of money:
Firstly, obtaining a license is a complicated process. To operate your business in a Shams free zone, you need to pay a certain amount of money, which can be very high. Once you’ve paid the fee, you can increase your license’s activities. Once you’re approved, you will need a bank account. It’s recommended that you find a bank affiliated with the Free Zone.
You’ll need to invest a reasonable amount of money:
Getting a license in a Shams free zone can be costly, so you’ll need to invest a reasonable amount of money. However, this is well worth it in the long run. It is possible to set up your business in a free zone for a fraction of the cost of a similar enterprise elsewhere. You can get the license without any additional costs and hassle. The fees are affordable, and the authorities do not require annual audit reports.
You will need to acquire a resident visa in the Emirate of Sharjah:
When acquiring a SHAMS free zone license, you will need to acquire a resident visa in the Emirate of Sharjah. The visa is valid for three years. After that, you will need to have health insurance and sign an undertaking letter. Once your license is approved, you can start doing all the activities you want, with no limits. You can even increase your number of activities after paying the license fee. Also, the fees for obtaining a license in a SHAMS free zone are the same as setting it up. The monthly fee for not paying the fees is 100 AED per month.
You will need to acquire an industrial license:
If you wish to conduct industrial activities in the Shams, you must acquire an industrial license. This license will allow you to produce and transform goods and produce services. You will also need to buy and sell raw materials and live animals on a fee basis.