The Hamriyah Free Zone in Sharjah ,United Arab Emirates is established in November, 1995 by an Emiri decree. It is the industrial hub of Sharjah emirate.
Types of companies approved by HFZA:
HFZA approves two types of entities:
- A Free zone establishment:It will have a single shareholder with a minimum capital requirement of AED 150,000
- A Free zone company: It may have upto a maximum of 5 shareholders
- Branch: A branch of a local or an international company
Types of licenses available for business set up in HFZA:
Following are the available license categories in HFZA:
- Commercial license
- Service license
- Industrial license
How to start a company in HFZA?
Following are a list of documents that are required to submit to Dubai Chamber of Commerce and Industry:
- Application form
- Company name approval
- Business activity approval
- Business plan
- CV and passport copy of shareholder and manager
- No objection letter from the sponsor, if it is a UAE based company
What are the Competitive advantages of setting up business inHFZA?
- World class infrastructure
- 100% foreign company ownership and 100% repatriation of capital and profits
- 100% Import and Export tax exemption
- No corporate tax, income tax.
- 25 year leases available, renewable for a further 25 years
- Attractive investment incentives
- Liberty for personnel recruitment and economical workforce
- Availability of Pre-built warehouses and office units for lease
How to close or liquidate a company in HFZA?
Entities which are unable to continue the operations of their company in HFZA need to initiate the process of liquidation. Following is the process required for the liquidation process in HFZA:
- Visas liquidation
- Establishment card cancellation
- Lease cancellation (If any)
- Customs clearance for commercial licenses
- License degeneration
Why choose Spectrum Auditing?
Spectrum Auditing is an expert firm in the Company Formation and Company Liquidation process. Our passion and heart lie in serving the clients and we aim at utmost client’s satisfaction. We are registered Auditors under the Ministry of Economy UAE and also registered Tax Agent from Federal Tax Agency UAE, Dubai providing dedicated Audit, Accounting, Tax services and various Business Advisory Services complying regulatory requirements.
Reach us to have a frills free life in your journey in Dubai, UAE. We at Spectrum will assist you in taking care of all the legal procedures involved in the registration and de-registration of your company in HFZA. Call us today for any kind of assistance at +971 4 2699329 or email us at [email protected] to get all your queries addressed. Spectrum is your partner in your success.
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