Sharjah Airport International Free Zone (SAIF Zone) is a free zone in the emirate of Sharjah, United Arab Emirates. It is the first free zone in the world to be built around an international airport and is considered one of the most important business locations in the Middle East. The Business setup in SAIF Zone is a great choice to invest in your business. You can get all the benefits of tax exemption and other perks, as well as have access to government support, at a low cost of business. In this article post, we have given detailed info on setting up a business in Sharjah airport international free zone.
Why should you consider setting up your business in a Saif zone?
SAIF zone is a good choice for your business setup in UAE. The reason behind this is that it has some of the most attractive incentives given to companies by the government. These incentives are aimed at encouraging foreign investors to come to the country and set up their businesses here.
There are many benefits of setting up your business in a SAIF zone in UAE:
Ownership: Businessmen get 100% ownership in their companies which means they are not bound by any rules or regulations that govern other businesses in UAE. Also, there are no restrictions on hiring ex-pats for any position or job category.
Ease of doing business: The process of setting up your business in the SAIF zone is quite easy and straightforward. It does not require lots of paperwork and bureaucratic procedures like others zones. You just need to make an application and get it approved by the concerned authorities and start your work within no time.
Tax exemptions: The businesses operating in the SAIF zone are tax exempted from the date of obtaining a license, which means they can save their profits by paying fewer taxes. Moreover, there is no capital gains tax paid on the sale of shares or capital assets owned by the company if they are sold within a specific period from when they were acquired by the company. You get tax benefits from the government. These include exemption from corporate tax, with no withholding taxes on dividends or capital gains. You will also not be required to pay income tax on any profits you make from your business activity within the zone.
No customs duties: Goods imported into this zone do not attract any customs duty or sales tax; also, no withholding tax gets deducted at source on payments made to suppliers located outside UAE but supplying goods/services/construction services into this zone.
Business bank account: you can open a bank account without having to go through tedious paperwork and documentation processes, which means you can start operating immediately after setting up your company. This makes it easier for you to get started with running your business efficiently and effectively from day one!
Low-cost office spaces: A company can own an office space or warehouse in SAIF ZONE at a very low cost. This makes it affordable to start a business without having to invest much money in it at the beginning. Also, with time, your company will be able to purchase more property from the market if needed.
Fast Business Process: One of the biggest advantages of SAIF ZONE is its fast business process which makes it easy for you to get all your licenses within no time at all! You don’t have to waste time running around and waiting for things to happen; everything takes place quite smoothly.
Basic Facilities: SAIF Zone provides all the basic facilities required by any business owner such as office space, warehouse space, meeting rooms, security services, etc. This makes it an ideal location for small-scale industries as well as large ones that require larger spaces.
Efficient Manpower Supply: The zone has an efficient manpower supply system which makes it easy for all kinds of industries to hire employees without any hassle. The availability of skilled workers ensures that your business runs smoothly every day.
Licensing and Other Approvals with SAIF Zone:
The (SAIF )Sharjah airport international free zone offers a wide range of facilities to help companies set up their operations in a hassle-free manner.SAIF zone is a special economic zone. The main objective of this zone is to provide a platform for technology companies to grow and expand their business activities. It also provides a safe environment for businesses to operate in, as well as other benefits like tax exemptions and exemption from labor laws.SAIF has its own rules and regulations for businesses that wish to set up business here. Once you’ve registered with us, we’ll help you through the process of getting your licenses and approvals required by the government, including:
Trading License: A trading license is required for those who want to start a business in the free zone. It is a license issued by the government of Sharjah to allow companies to trade freely within the country’s borders. The trading license allows you to import, export, and sell goods in the UAE or around the world. You can also sell your products domestically if you choose to do so.
Industrial License: This license is required if you want to establish an industrial unit in a special economic zone. You’ll need it before you can start production or operations at your facility within our premises.
Service License: Allows you to provide professional services such as accountancy or engineering services, or even trade licenses such as transportation or retailing.
Required documents for business setup in SAIF Zone:
In Sharjah airport international free zone the following documents are required for business set-up:
- Passport photo
- Passport Copy
- Residency proof
- Business registration certificate
- Commercial Contracts like MOA, Investment agreements, and Share certificates.
Incorporation of the company in the SAIF Zone process
- The process of business setup in SAIF Zone is simple and easy. The first step is to submit the application form to DED Sharjah or a specific free zone. The authorities will review your application and send you a letter confirming your company’s registration.
- Next, you need to prepare the company MoA, and shareholder resolution along with other supporting documents like authorized power of attorney (POA), certificate of incorporation, memorandum of association, registering documents, etc. You can get all these documents from the concerned authority.
- After submitting all the required documents, you need to make payment for the license fee at any bank or designated branch. Once you make payment by cheque or cash, you need to submit it along with supporting documents. After verification by DED, you will get an official letter from them confirming your trade license.
- After getting a trade license from DED Sharjah or a free zone authority, you have to apply for a company establishment card from the Ministry of Interior (MOI). This card will be used for opening bank accounts and other transactions related to business activities in UAE.
You also need to apply for Resident Visa (RV) for yourself and Employee Visa (EV) for employees working with your company abroad or outside UAE.also you need to open a business bank account for further business operations.
Why Business Setup Dubai :
When you decide to start your business in the UAE, you want to be sure that your business will be set up with the utmost care and attention. You want to know that you’re in good hands—and that’s where we come in. We have a team of professional experts who are committed to delivering world-class business setup in Sharjah solutions across the UAE.
SAIF zone’s customer base is considered one of the dynamic options for entrepreneurs. Start your company in the world’s prestigious free zone with us. We are specialists in helping you open your business in the SAIF zone, so you can get started quickly and efficiently. We provide reliable advice and guidance from start to finish, so you know exactly what you need from us, and when we will deliver it. Feel free to touch with us.