Starting a business in Sharjah is as advantageous as starting a business in any other emirate of Dubai. It is a land bursting with business opportunities for businesses across a multitude of industries. With the Emirate hosting a population of over 1.70 million individuals, businesses based here are well positioned to potentially reach great heights.
And if you’re considering to business setup in Sharjah, you will need to get a trade license for company formation. This license allows you to conduct business activities in Sharjah emirate. There are also various types of trade licenses available here and business activities that are permitted under each license. Read on to know the process of company setup in Sharjah, as well as a detailed overview of how to get a business license in Sharjah. Let’s get started!
Details of Trade License in Sharjah
Sharjah is a booming industrial and commercial area in Dubai that shows great potential for growth. The Government of Sharjah has taken many initiatives to promote economic diversification and attract investment. This has helped to promote an investor-friendly environment for both foreign and local businesses.
If you are willing to setup a company in this emirate, and want to start trading in Sharjah. Then you must need to own the Sharjah trade license. A trade license is the first official thing any CEO have to do to launch a company in this emirate. It is forbidden to operate any type of business activity without a trade license. With this license any business can maintain its high professional standards.
Sharjah trade license issues by the Sharjah Economic Development Department for Sharjah company incorporation. This department of government is responsible to manage all the licensing, renewal and enquiries that are related to businesses in Sharjah. The Chamber of industry and commerce provides institutional support for businesses in Sharjah. This license helps the government to monitor businesses running in the city and protect consumers’ rights.
Supremacy of Starting a business in Sharjah
Sharjah is an ideal destination for you to commence your dream business. it comes with a plenty of benefits, including:
- Your company has full repatriation of all profits
- Advantages of 0% income and corporate tax
- A sustainable emirate
- No any capital requirements
- business networking opportunities and Robust infrastructure
- Large industrial and warehouse spaces
- Companies are free from import and export duties and taxes
Types of Sharjah Trade Licenses
The trade license you need in Sharjah, will depend on the sort of business firm you are going to establish and your business activity as well. Accordingly, the approach will be differed. There are 3 types of trade licenses for business in Sharjah. Let’s see which will help you to identify the type of license you will need to start your business.
- Commercial License
- Industrial License
- Professional License
- Commercial License
This trade license covers all the activities of business trading, such as importing, buying, selling, and the exportation of goods.
- Industrial License
Businesses engaged in manufacturing, assembling and moulding of products or items must get an Industrial License before they can begin the business.
- Professional License
This trade license carries out professional sectors, including engineers, artisans, craftsmen and personal services.
How to Obtain Trade License & Establish Your Business in Sharjah
The process of obtaining a business license is quite similar in each emirate. However, businesses must fulfill certain criteria to obtain a business license in Sharjah. The following steps cover the process from specifying your business to applying for a trade license. With this handy guide, you’ll have your business trade license and can be running your firm in Sharjah before you know it.
Step 1: Identifying your business activity
First step to identify your business activity against Sharjah trade license. There is a maximum of 10 allowable business activities per license, under one category type.
Step 2: Recognize your business licensing category
Second step is to identifying your business category for your firm. Then Choose whether you require a commercial, professional or industrial trade license in Sharjah for your business activities.
Step 3: Choose and register your business trading name
If you have not yet decided on your business trading name, now it is the time to do so. Register it as soon as possible in the company formation process. All certificates, subsequent approvals and final trade license will be issued to the business firm. Also, keep in mind there’s some set of rules you have to follow when naming your company.
Step 4: Submitting application of initial trade license
You can now submit an initial application to the Sharjah Economic Development Department (SEDD) for initial approval. As part of this procedure, you should provide the details of your business plan and copies of relevant passports. The primary approval is usually issued immediately.
Step 5: Leasing a commercial space
Post that, find a good location and secure a lease for your business to conduct operations. Register your rental agreement with the relevant authority, also get approval from Sharjah municipality. The location can be in mainland or free zone of Sharjah.
Step 6: Seek relevant government approvals
Acquire association memorandum and apply for any essential government approvals that relate to your business activities. There must be various Dubai ministries and government departments that you need to contact.
Step 7: Submit your trade license application
Finally, you can submit your application along with supporting documentation to the Sharjah Economic Development Department (SEDD) and pay the associated fees. Once your application is approved, you will be issued a business license in Sharjah. Then you have to pay the fees for this trade license for your business.
Required Documents for Trade License Submission
The following documents are required to go along with your trade license submission to the Sharjah Economic Development Department:
- Certified Business trade name
- Passports Photocopies of CEO and all shareholders of company
- National ID and Family Book if you are a UAE national
- Residence visa for foreigners
- Rental agreement and Ejari
- Technical evaluation report
- Certified Lease contract
- Approval from Departments and Ministries
- Notarized legal structure
- Financial information describing capital investments and bank accounts
Although Sharjah businesses may not be as leading compared to other emirates. But they are still making extraordinary progress. Sharjah attracts entrepreneurs and new businesses every year as it closely follows Abu Dhabi and Dubai as one of the top business centers in the region. Therefore, investors and company owners can benefit from the many business opportunities in this emirate.
Get Your Trade License in Sharjah with Beyond View
If you want to take advantage of the thriving business environment in Sharjah, our team would love to discuss your business project with you so that we can succeed.
Beyond View has experienced business setup consultants who can help with many aspects of setting up a business, including how to apply for Sharjah trade license. Contact us today for a free consultation. We look forward to helping you to start your business journey. Contact us, we’d love to assist!