The benefits of starting a business in Sharjah
As the third-largest Emirate in the UAE, Sharjah is a land full of business opportunities for ventures across a multitude of sectors. With the Emirate hosting a population of over 1.70 million individuals, businesses that are set up here are well positioned to potentially reach great heights. In this article, we explore reasons as to why Sharjah is an ideal place for you to start your dream business.
1. Access to markets
Sharjah is known for its residential sector primarily because so many choose to settle and live in the Emirate due to its affordable property prices. This means that businesses within Sharjah can tap into a large market that primarily consists of expatriate residents who are more than willing to utilize their disposable income on your business’ offerings. The Emirate also offers the required infrastructure needed to access these markets with their accessible free zones and cost-effective leases.
2. No capital requirements
Sharjah promotes business-friendly policies that allow for new business setups to function without a mandatory capital requirement. This policy is especially important for SMEs who may not have the required funds due to their small-scale operations. This has made the Emirate an extremely lucrative place to start a business in, attracting new and established entrepreneurs and investors from across the world.
3. Free Zones
The government of Sharjah has developed a variety of free zones, that enable businesses and entrepreneurs to thrive within the market with additional benefits without breaking the bank. SPC Free Zone is one of the free zones located in Sharjah that provides entrepreneurs with a platform to conduct their economic activity of choice across a large variety of sectors in addition to consulting services that make the business establishment process an easy one. Some of the benefits free zones in Sharjah offer include the following:
– 100% ownership for non-GCC residents
– Large variety of licensing options
– Tax benefits
4. Sustainable Emirate
The Emirate of Sharjah has actively taken steps to become self-sufficient and sustainable. Multiple initiatives have been introduced that aid businesses to switch to more sustainable options that affect energy and environmental impacts. This has affected businesses in the Emirate in a positive way, as switching to renewable sources of energy means lower bills for businesses to pay, increasing profitability in the long run while reducing a venture’s carbon footprint, bringing us one step closer to a cleaner and greener world.
5. No limitations on business activities and visas
Certain regions of the UAE bar a list of business activities, subject to the legal regulations and laws of the area. However, in Sharjah that limitation is not present. Entrepreneurs are free to engage in virtually any form of business activity as compared to the other regions in the UAE. Moreover, the Emirate also allows for unlimited issuance of visas that enable businesses to hire as much talent as they need, from around the world.
6. Ease of currency regulations
Other Emirates tend to have laws that restrict the usage of certain currencies. This limitation may pose as an inhibitor to business prosperity and ease of transactions. Sharjah, however, does not have such impositions and businesses are allowed to conduct financial transactions with ease.
7. No mandatory audits
Businesses set-up in the Emirate of Sharjah do not have any legal requirement to be audited, making the process voluntary and up to the discretion of the business concerned. This means that ventures within the Emirate can allocate valuable time and resources to the business itself, rather than preparing for audits.
Understanding the know how’s and benefits of starting a business in Sharjah can be overwhelming at first. Here at SPC Free Zone, our expert consultants break down the dos and don’ts of a new company formation, making your dream business setup in the UAE a reality in the easiest way possible. Contact us at 800 SPC FZ today to start your business venture today.