OVERVIEW OF SHARJAH MEDIA CITY FREE ZONE AUTHORITY
Sharjah Media City, or simply SHAMS free zone, is located in Sharjah, the nearest Emirate to Dubai.
SHAMS company setup is a relatively new way of business setup in UAE.
The Emirabiz team, being business setup consultants in Dubai, has been awarded a SHAMS certificate of appreciation.
OFFICES IN SHAMS
SHAMS company formation entails getting a facility in this free zone. Flexi-desk does not come as a part of the setup package by default. It is recommended to have it to get through the banks’ compliance.
Overall, SHAMS facilities are the following:
- Shares desk (flexi-desk)
- Dedicated desk
- Shared office
- Dedicated office
COMPANY ACTIVITIES
It is known as the Media Free Zone, but the business activities are not related only to the media sector.
The activity list is comprehensive and includes:
- Trading
- Professional services
- Holding and other types
- Social media influencer
There are more than 120 activities in total. You can combine multiple activities in your license. SHAMS free zone company setup can satisfy the companies with any business activities.
SHAMS FREE ZONE LICENSE COSTS
SHAMS Sharjah Media City is an affordable free zone. The fees start from 6,000 AED for a zero visa package. If you need a visa in your company, rent a flexi-desk at lease and pay for a visa allocation of 1,700 AED.
Cheapest company setup costs (AED) in SHAMS free zone Sharjah:
Type of license cost, AED
Trading or service license with zero visa quota of 12,000
Trading or service license with one visa quota of 13,000
The fees increase according to the number of visas your company is eligible for.
SHAMS COMPANY FORMATION
Company registration can be done remotely; whether in UAE or abroad, your company can be registered in a week.
The documents you need to provide:
- Passport copy
- Phone number
Sharjah Media City free zone allows the youngest company shareholders to own a business starting at 19. It is a great benefit not available in any other Free Zones. Company employees can be as young as 18, which is also quite unusual compared to other Free Zones.
All the documents of the companies are electronic, so you can print them out anywhere and may not worry about losing the originals. The documents can always be verified through the SHAMS website to ensure authenticity.
SHARJAH MEDIA CITY RESIDENCY VISAS COST
SHAMS has one of the most flexible visa allocation systems. You can have a company eligible from zero to 6 visas.
Another way to get multiple visa slots in Sharjah is a Hamriyah-free zone visa.
On top of that, you can upgrade your package at any time.
SHAMS visa costs (AED):
Investor/partner: 4,500
Employee: 4000
All visas are valid for three years.
When you apply for a resident visa under the SHAMS free zone license, you need to get health insurance or sign an undertaking letter that you intend to do within the next ten months.
COMPANY RENEWAL
Company renewal, just like the setup, can be done remotely. The authority does not require audit reports.
Renewal fees are the same as setup fees. Audit reports are not required.
Monthly penalties will accumulate if you do not renew the company on time. The fine after the first month is 1,100 AED. The following months will cost 100 AED each.
AMENDMENTS
Sharjah Media City is relatively straightforward with any amendments. The cost for most of them is 2,000 AED, and personal presence is not required.
Amendments to the license will be accessible during the renewal.
SHARJAH MEDIA CITY COMPANY LIQUIDATION
Liquidation of a company in Sharjah Media City Free Zone authority takes about three weeks.
The price of the liquidation is 1,990 AED.
BUSINESS SETUP EXPERT’S OPINION
SHAMS is an excellent option for start-ups and developing businesses. You will likely find a business activity that is suitable to your needs.
Costs and visa slots are a good bargain as well.
An alternative option business setup within the Dubai Emirate would be a DTEC formation of a company in this media-related free zone.