Having a business in a Sharjah free zone SPC has several benefits. First, a company established in a free zone is 100% foreign-owned. This is a big plus because most foreign entrepreneurs in the mainland of the UAE have to partner with a local partner to get their projects up and to run. However, a company set up in a free zone can be fully owned by foreigners.
A free zone offers tax breaks and duty exemptions:
It is easy to do business in a free zone because of its easy registration process. After submitting all the required documents, you will be notified of your approval and operating your business immediately. A corporate bank account will be opened for you, and it can be easily obtained from a financial institution. You can also be the sole owner of your company in the free zone and avoid dealing with foreign investors. Furthermore, your business will be exempt from duty if it exports products to GCC countries.
It is easy to establish a branch in the free zone:
Another advantage of setting up a company in a free zone is that it is easy to establish a branch in the free zone. A branch is essentially an extension of your existing foreign company and is legally responsible for its activities. When setting up a branch, your primary consideration will be taxation. You must pay taxes in the jurisdiction of your parent company. The process for establishing a branch is relatively simple.
Setting up a business in a free zone is easy:
You don’t have to deal with local partners and be 100% foreign. You don’t need to get a UAE national sponsor to establish a company in a free zone. In addition to being easy to do business in a free zone, your business is easier to register in a government-regulated country than it would be elsewhere.
Easy to obtain a license:
One of the biggest advantages of registering in a free zone is that it is easy to obtain a business license. Once you have this document, you can proceed with company registration in Sharjah. The process of setting up a company in the UAE free zone is simple and quick, and you can complete the entire process in as little as two days. The immigration and visa process is faster and less expensive than creating your company in a different country.