Hamriyah Free Zone Company Formation
The Hamriyah Free Zone Authority (HFZA) was established by an Amiri decree issued on 12th November 1995. The Free Zone is situated in Sharjah, the third largest Emirate in the country after Abu Dhabi and Dubai. Hamriyah Free Zone makes sure that its management is dynamic and flexible besides being an investor orientated free zone. Hamriyah Free Zone provides various unique opportunities and viable incentives to form an establishment in a full company ownership, tax-free environment, repatriation of profits and capital and exempted from all commercial taxes. The Free Zone governs an area of approximately 22 million sq.m. of prime commercial and industrial land and a 14m deep water port which includes room for expansion.
Types of Hamriyah Free Zones:
- Hamriyah SME Zone
- Hamriyah Logistic Village
- Hamriyah Industrial Zone
- Hamriyah MB Zone
Hamriyah Free Zone licenses
- Commercial License
To perform trading activities as stated in the License including import, export, storage and warehousing, consolidation, distribution and so on.
- Service License
To perform service activities as indicated in the license. All types of services are allowed unless those restricted by the local authorities.
- Industrial License
To perform light manufacturing activities as specified in the license.
A SAIF company can be registered as any of the following
FZ-LLC
- Natural Individual
- Corporate Entity
- Natural and Corporate Individual(s)
FZCO
- Minimum share capital requirement for each shareholder: AED 1,000 (USD 273)
- 1-50 shareholders
- Value of each share: AED 1,000 (USD 273)
Branch of a UAE company
Branch of a Foreign company
- Registered outside the UAE
Branch companies do not have a minimum capital requirement.
Advantages of forming a Hamriyah Free Zone
There are several benefits in setting up a Free Zone in Hamriyah, Sharjah:
- 100% foreign ownership – Emirati partner is not required
- 100% ownership of the company
- Personal income tax exemption
- Import and export duties are exempted
- Modern facilities including warehouse, office, and land availability
- Low-cost labour
- Exemption from other taxes
- Sponsorship and Visa for all the employees
- Well-rounded infrastructure
- Regional and worldwide communications with exceptional land, air and sea transport links
- Strategic location
- Leasing prices are competitive
- Easy transfer of profits and capital
- No auditing required
- No foreign currency restrictions
- Affordable cost of living
- Hiring foreign employees and economic wage structure are not restricted
- Operates 24 hours a day, seven days a week
The procedures to set up a Hamriyah Free Zone is trouble-free and well streamlined. The straightforward formalities and processes make it possible to acquire a license within an hour of submitting all requisite documents.
Steps to form a Hamriyah Free Zone
- Application Form
The license application will have to be filled out by the investor and provide the project details.
- Project Approval
Provisional approval status will be given to the project so that the legal documents may be prepared.
- Legal Documents
The investor provides all required documents of the parent company for commencing a branch of a local or international business.
- Signing of Agreement and completing payments
- Issuance of licence and lease
- Certificate of Incorporation will be issued for new incorporations
