How are freezones an attractive option for Investors in Sharjah?
Investors in Sharjah’s free zones can find them attractive for various reasons:
1. Foreign Ownership: Free zones often allow 100% foreign ownership, providing investors with control over their businesses without the need for a local partner.
2. Tax Benefits: Sharjah’s free zones typically offer tax advantages, including exemptions or reduced rates, which can enhance the overall profitability of businesses.
3. Customs Duty Exemptions: Companies operating within free zones in Sharjah may benefit from exemptions on import and export duties, reducing the cost of moving goods.
4. Streamlined Setup Process: Free zones in Sharjah generally provide a simplified and efficient business setup process, offering a one-stop-shop for registration and administrative services.
5. Infrastructure and Facilities: Investors can access modern infrastructure, purpose-built facilities, and well-equipped office spaces that cater to the specific needs of different industries.
6. Global Connectivity: Sharjah’s strategic location facilitates easy access to regional and international markets, supporting businesses in expanding their reach.
7. Repatriation of Profits: Investors often enjoy the freedom to repatriate profits and capital without stringent restrictions, providing financial flexibility.
8. Business Support Services: Free zones may offer a range of support services, including legal, administrative, and logistical assistance, creating a conducive environment for business growth.
9. Industry-Specific Free Zones: Sharjah has free zones dedicated to specific industries, fostering collaboration and synergy among businesses within the same sector.
10. Incentives and Initiatives: The government may introduce incentives and initiatives to attract investments, such as grants, subsidies, or reduced utility costs, further encouraging business development.
Before choosing a free zone in Sharjah, investors should carefully assess their business needs, industry requirements, and the specific benefits offered by each free zone. This ensures that the chosen location aligns with their strategic objectives and facilitates a smooth and successful operation.
Here are the free zones which operate differently than in mainland Sharjah:
- Hamriyah Free Zone
- Sharjah Airport International Free Zone
- U.S.A. Regional Trade Center (USARTC) Free Zone
- Sharjah Publishing City Free Zone
- Sharjah Media City Free Zone (Shams)
- Sharjah Publishing City Free Zone (SPC Free Zone)
- Hamriyah Free Zone – The Hamriyah Free Zone is a free zone place in the city of Sharjah in the United Arab Emirates. Established by an Emiri decree in November 1995, the Free Zone is 24 square kilometres in size and has a 14-meter-deep port and 7-meter-deep inner harbour. Sharjah is the only emirate which has ports on the Arabian Gulf’s west coast and east coast with direct access to the Indian Ocean. Sharjah is the third largest emirate in the UAE.