Introduction to Sharjah Research, Technology, and Innovation Park Free Zone
The Sharjah Research Technology and Innovation Park Free Zone (SRTI Park) established in 2016 by the royal decree of His Highness Sheikh Sultan Bin Muhammad Al Qasimi, Ruler of Sharjah is an innovation-focused Free Zone in Sharjah. Its main purpose is to develop and oversee an innovation hub that encourages Research and Development(R&D) and supports business. The park achieves this by promoting collaboration between industry, government, and academia. The SRTI Park will focus on six research areas namely:
- Water and Technology
- Transport and Logistics
- Renewable Technology
- Environmental Technology
- Production, Design, and Architecture
The benefit of setting up business in SRTIP Free Zone
- Cost-efficient business setup
- Budget-friendly leasing and licensing choice
- Dual Licensing
- Quick registration process
- Special package for women entrepreneurs
- Availability of wide range of office spaces
- Access to business networking events
Facilities offered under SRTIP Free Zone
SRTIP offers a variety of facilities to support research, technology, and innovation.
The SRTIP park has specific labs for different industries like technology, medical, and chemical, etc. It also has testing spaces for industries to carry out research and development.
Training and Development Centres
Educational programs and training facilities aimed at enhancing the skills and knowledge of individuals and teams involved in research and technology.
Opportunities for financial assistance, grants, or investments to support the progress and expansion of research initiatives, startups, and enterprises focused on technology.
Support in terms of technological resources and infrastructure required for the successful implementation of research and technology initiatives.
Access to Academic institutions
Short distance to educational institutions in Sharjah’s University City facilitates synergy between businesses and academia, promoting collaboration.
Female Entrepreneur Packages
Female entrepreneurs can avail of business setup packages at subsidized rates.
Office and Plot Area Packages at SRTIP
SRTIP provides a range of alternatives, such as co-working spaces, private offices, and plots.
Maktabi Co-Working Space
Designated desks with access to meeting rooms, five visas per desk, facilities like free wi-fi, meeting rooms, lounge facility and on-site parking
From AED 25,000 / per annum
First Step Hi-Tech Office
A workspace solution tailored for newly established businesses with less than three years of operation with benefits like three visas per desk, access to meeting rooms and free wifi.
From AED 15,000 / per annum
Avail a fully furnished office with four to six seating capacity, upto 10 visa quota per office, state of art meeting rooms and on-site parking facilities
From AED 42,000 / per annum
Completely furnished office with 15+ visa quota per office, access to lounge area, meeting rooms and on-site parking
From AED 75,000 / per annum
This option allows businesses to rent the open space at reasonable rate with benefits like access to lounge, on-site parking and 24/7 security
SRTIP provides land plots for project development within prime Sharjah location at competitive leasing rateswith 24/7 security.
Women In Innovation Hi-Tech Office
A package for female entrepreneurs specializing in the Park’s focus area with unlimited access to innovation lounge, professional networking spaces and confined private areas exclusively for women.
Corporate Tax applicability to the companies in SRTIP
Corporate tax law is applicable for all the companies registered in UAE including the freezones. Article 18 of CT Law provides an exception to the QFZPs i.e., as long as they satisfy the QFZP conditions. For being a QFZP, the free zone entity has to satisfy the conditions such as deriving qualifying income, not elected to subject to tax @9%, maintain audited financial statements, comply with transfer pricing rules and other additional conditions mentioned in the ministerial decisions. Every company satisfying these conditions are eligible for 0% tax rate. Businesses in the free zone has to carefully assess whether their business activity falls under the category of qualifying income.
Company Formation Process in SRTIP Free Zone
Following is the simplified process to set up a business unit in SRTIP:
- Contact with Getcompany.ae. We are happy to help you to accomplish your business needs.
- Schedule a meeting with our expert business consultants who will guide you throughout the process and assist you to know various company formation packages, Visa and license cost details.
- Choose a proposed business activity and reserve the trade name for your business.
- Confirming the number of shareholders and visa quota
- Select the right office type suitable for your business
We will require the following documents in order to proceed:
- Incorporation application form (Including ownership information)
- Passport copy and digital passport-size photo of shareholders/partners
- Emirates ID and Visa copy for UAE residents if any
- Submit the required documents and make payment.
- Get your company License and Visas.
- Apply for corporate bank account in the name of the company.
How can Spectrum help you set up business at Sharjah Research Technology and Innovation Park?
Spectrum provides an easy and simple start-up process for companies seeking to set up an office in Sharjah Research Technology and Innovation Park. Spectrum’s dedicated team will guide you through the process, answer your questions, provide the necessary forms, and serve as your primary point of contact to support you through the whole process.
Spectrum 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 the 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.
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.