Shams Free Zone / Sharjah Media City

Shams offers smart innovative services for aspiring startups and SMEs, as well as established companies or corporations. Launched as a world-class hub for modern services for those who wish to setup their business within specialized facilities in the media and creative industry, Shams strived as a dynamic initiative, a forward-thinking and holistic community with the aim of making creative entrepreneurship accessible to all.

As a world-class free zone hub for innovation, Shams sets the benchmark for service and support to those wishing to set up and launch their business with specialized facilities for the creative and media industries. Shams will offer smart innovative services, coupled with a holistic community-centered approach, placing a great value on localized content and actively encouraging entrepreneurial talent from within a continuously thriving community.

Shams’ mission is to make creative entrepreneurship accessible to all aspiring startups, SMEs and established companies striving to grow their business both locally and globally. Shams is a dynamic initiative that makes a strong connection with the talented individuals it attracts.

Type of licenses:

Service License:

  1. Provides services, i.e. non-goods.
  2. Provides services as a primary objective while using goods, i.e. restaurants, media productions, etc.
  3. Production.

Trading License: Selling goods within Shams or importing and exporting of goods: movement of goods, wholesale and retail sale of goods and the rendering of services related to the sale of these goods.

Industrial License: Production, re-production, transformation and manufacturing of goods.

Business facilities in Shams:

  1. Company setup options starting from Dhs. 11,500.
  2. Physical presence in the UAE not required to incorporate your new company.
  3. No need of NOC to start your own company.
  4. No paid-up Share capital or Annual Audit.
  5. 100% foreign ownership.
  6. 100% repatriation of capital and profits.
  7. 100% free transfer of funds.
  8. 0% import and export duties.
  9. % Corporate tax for 50 years.
  10. All documentation issued in 2 days.
  11. Inexpensive workforce and easy recruitment procedures.
  12. Vast activities covering Services, trading and Industrial licenses with multiple visas.

Company formation in Shams:

1. Shams LLC

Advantages:

  • Independent operating entity
  • Entitled to obtain a license
  • Entitled to sponsor employee(s)
  • Entitled to open a business bank account

A Shams limited liability company (LLC) is an independent entity whereby the company structure separates the owners and shareholders from the company. Hence the liabilities of the company, whether arising in contract or otherwise, are the company’s liabilities and not the personal liabilities of the shareholders. Equally the company’s assets are the company’s assets and not the personal assets of the shareholders.

2. Shams branch

Advantages:

  • Entitled to obtain a license
  • Entitled to sponsor employee(s)
  • Entitled to open a business bank account

A Shams branch is an entity belonging to an existing parent company. All profits, benefits, gains and other returns of the branch shall be profits, benefits, gains and other returns of the parent company. Equally, all costs, expenses, debts and other liabilities of the branch are costs, expenses, debts and other liabilities of the parent company.

Author: | Modified: April 9, 2018 | Author: