Sharjah Airport International Free Zone – SAIF Zone

Benefits and advantages of SAIF zone which is established in the year 1995:

  • SAIF Zone delivers today’s demanding businesses with the benefits of a strategic location, trustworthiness, efficiency, diversity of industries, licenses and a robust company structure.
  • It is located adjacent to Sharjah International Airport and close to the seaports and airports of Dubai and Abu Dhabi – putting your business at the gateway of global trade with unrivaled connectivity. Strategically located from all the major countries of the world Sharjah gives you added advantage for your business.
  • It is existed as the result of a mutual agreement between several countries to create a customs-free zone in a designated area. No taxes or duties are levied in the free zone making it the key to promote trade especially in the import and export of all kinds of goods.
  • The benefits of operating from SAIF Zone are tremendous. It allows 100% foreign ownership exemption for personal and corporate income tax with 25-year contract remedies for final rent. Licenses are issued on the same day and the ‘one-hour window operation.’
  • Also, there are no restrictions on the foreigner’s exclusive proprietorship. You can own complete ownership for your business.

Top reasons to setup the business at SAIF zone:

  1. 100% Foreign ownership and repatriation of funds with no currency restrictions
  2. 100% Exemption from Corporate and Personal Income taxes
  3. 100% tax exemption from all import and export duties
  4. Easy business setup with the state-of-art infrastructure

 

Offices, Warehouses and lands

SAIF Zone provides a world class facility from a range of existing plots, customizable warehouses and land plots in multiple sizes depending on the nature of business and the number of Visas required.

  • SAIF Offices
  1. They usually provide with three different types of offices which includes, SAIF Suite, SAIF Executive offices and SAIF office (on a non-sharing basis).
  2. These offices are generally fully furnished, with customisable spaces that covers all Utility Charges with an advanced IT/ telecommunications infrastructure.
  • Warehouses
  1. Pre-built warehouses are available at 4 different sizes – (125 Sqm, 250 Sqm, 400 Sqm, 600 Sqm)
  2. They are perfect for manufacturing with ample power to run heavy duty equipment, trading, assembling, logistics with the easy access to manpower for loading and cargo.
  3. They have built-in offices with pantry and Lavatories.
  • Land
  1. It provides land plots of about 2,500 sqm and above for the business to construct their own custom-build warehouses/factories
  2. It also provides the on-site staff accommodation with 24/7 security and utility services.
  • Jewellery park

A full-fledged and highly specialized jewellery manufacturing unit has been setup facilitating the jewellery manufacturers for easy production.

  • Container park

There are specially designated areas reserved exclusively for parking containers.

  • Labour Accommodation

Fully-furnished spaces with full air conditioner and with a choice of recreational facilities has been provided to the staff in SAIF zone.

All the above facilities are on Long-term basis that can be renewable for a further period. However, payment will be made yearly.

 

Setting up of the business in SAIF zone

  1. Types of Activities

By offering a single-window approach and a highly efficient service team, complicated processes are eliminated and guaranteed the delivery of licenses and permits within 1 hour of the application.

Types of Licenses offered in SAIF Zone

There are three major categories of Licenses in Sharjah Airport Free Zone-

Type of license Purpose of the License
Trading License It covers the Import, export, distribution, storage and warehousing of either with a max limit of 3 similar products or large number of products
Service License All types of services are allowed, including
1) Services
2) Business Consultancy
3) Shipping and Freight Forwarding
4) E- Commerce
Industrial License * This includes import of raw materials, manufacturing, processing, assembling, packaging and exporting the finished product.

 

*However, Clearance from the SAIF Health & Environment Department is required.

Important points:

  1. There are no restrictions on importing and exporting goods as long as it is in accordance with your license. No duties are imposed on goods imported and/ or exported from within the Free Zone. (Other than when goods are sold locally in the UAE market.)
  2. We can sell our products in the local markets of UAE, subject to payment of relevant customs duties.
  3. SAIF does not share its activity list, so all the business activities availability needs to be checked. The free zone allows to have multiple activities in the license for your company formation in Sharjah, but if they are not related, additional fee will apply.

 

  1. Types of Companies

Types of companies and documents required for establishment-

Type of Company Business Required documents
Free Zone Establishment It is a Limited Liability owned by one natural or judicial person with a distinct legal entity and an independent financial Liability. Minimum Capital required for setting up FZE company is AED150,000 a) Application form
b) Project Summary
c) Passport copy of Owners/ Managers
Free Zone Company It is a Limited Liability owned by more than one shareholder with a distinct legal entity and an independent financial Liability. Minimum Capital required for setting up FZC company is AED150,000 a) Application form
b) Project Summary
c) Passport copy of Owners/ Managers
Branch of a UAE company It is a Limited Liability owned by more than one shareholder with a distinct legal entity and an independent financial Liability. No Minimum Capital required. a) Application form
b) Project Summary
c) Passport copy of Owners/ Managers
d) Certificate of incorporation/ registration
e) Board resolution to open a branch in SAIF zone
f) Power of Attorney appointing the person in charge
Branch of a Foreign company It is a Limited Liability owned by more than one shareholder with a distinct legal entity and an independent financial Liability. No Minimum Capital required. a) Application form
b) Project Summary
c) Passport copy of Owners/ Managers
d) Memorandum and Article of Association
e) Certificate of incorporation/ registration
f) Board resolution to open a branch in SAIF zone
g) Power of Attorney appointing the person in charge

 

  1. Registration Process

Sharjah free zone company formation in SAIF can be done personally by company owners or by Power of Attorney holders. License is issued instantly on the day of application.

The registration process involves three core steps:

  • Submission of required documents (as specified above) and a basic outline of the project to the marketing and sales department
  • Upon receiving the approval letter, the license fee along with the rent of the office or warehouse shall be paid and the agreement needs to be signed. However, visa fees and other immigration fees are paid separately.
  • Collection of business License, along with the lease agreements and keys for the facilities. The following documents shall be issued by SAIF after Company registration:
  1. Certificate of Incorporation
  2. License
  3. Memorandum of Association
  4. Investments service agreements
  5. Share Certificate
  6. Lease agreement

 

Time Limit for the whole process

1 day – Visit SAIF for Company Registration

1-3 Week – Establishment Card

1 week – Entry permit

1 day – Medical Check-up and Emirates ID

4 days – Visa stamping

 

  1. Trade License renewal and Amendments
  • Trade License renewal should be done annually.
  • The requirements for renewal are as follows:
  1. Original Trade License
  2. Audit Report
  3. O. Box renewal Receipt
  4. License renewal fee
  5. Authorization letter to collect renewed license
  • The Cost of renewal is usually less than the setup cost and depends up on the Company package.
  • It can be done without the personal visit of the company owners and can also be done by your agent within 1 day.
  • After company renewal, the new license has to be shown to the bank in order to extend the bank account.
  • Amendments of any company in SAIF can be done only by the Shareholders or Power of Attorney holders.

 

Liquidation of the SAIF Company

Steps for the Liquidation of the SAIF company are as follows:

  • Board Resolution

Closing Company in SAIF zone is initiated by submitting Board Resolution to liquidate company. Along with this resolution, all the original company documents like Trade License, Incorporation Certificates, Memorandum of Association, Tenancy Certificate, Invest Agreement etc shall be given back to the authorities

The Board resolution should be signed by all the directors of the company. If the owner is a foreign company, Board resolution should be attested by the UAE consulate from the country of origin)

Upon submission of all these documents, free zone will initiate facility clearance process.

  • Clearance from Customs

In the meantime, NOC from Port and Customs, Etisalat etc shall be collected.

  • Auditor Liquidation Certificate

Auditor Certificate for Liquidation showing no liability for company has to be submitted.

  • Visa Status report from SAIF Immigration Department

All the visas under the company have to be cancelled. Now, the company is ready to be liquidated. It takes around 15 to 20 days for the whole company liquidation process. After the liquidation process, the client will get back refund if there is any balance in company account.

  • Clearances from Facilities Management department of SAIF
  1. Clearance letter from the SAIF Zone Facilities Management
  2. Clearances from Visa department
  3. Clearance certificate from the SAIF Zone Customs
  4. Clearance certificate from Post Office
  • Premises Keys – must be handed-over to SAIF Zone authority.
  • Settlement of all outstanding payments with Finance & Accounts Department.
  • Submission Original documents – Trade License, Tenancy Contract, MOA, Certificate of Incorporation. Investment Service Agreement, Share Certificate etc.
  • Refund request letter – if any credit balance / lease deposit is there.

Important Note:

Can a Cancelled Company be restored?

Yes, the Cancelled company can be restored by making the required payments.

 

Why choose Spectrum Auditing?

Spectrum Auditing is an expert firm in the Company Formation and Company Liquidation process across various Free Zones in UAE. 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 Sharjah Airport International Free Zone. Call us today for any kind of assistance at +971 4 2699329 or email us at info@spectrumaccounts.com to get all your queries addressed. Spectrum is your partner in your success.

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