Establishing a company in the free zone Sharjah International Airport Free Zone Establishing a company in a free zone represents a crucial strategic step for investors seeking to take advantage of the promising opportunities and competitive advantages that the United Arab Emirates offers. In cooperation with Itqan Company, investors are able to achieve their goals efficiently and sustainably in a favorable business environment. Through this partnership, companies can benefit from specialized advisory support and in-depth knowledge of the local market, facilitating the start-up and expansion process.

Freedom Zones in the UAE are known for their flexible legal environment and significant tax exemptions, which contribute to reducing operational costs and increasing profitability. In addition, these areas provide advanced infrastructure, making it easier for companies to run business efficiently and successfully. In short, establishing a company in a free zone in cooperation with Itqan is a thoughtful strategic choice that guarantees success and continuity in a market characterized by dynamism and broad opportunities.

The Authority to establish a company in the free zone, Sharjah Airport International Free Zone, seeks to become a prosperous business center based on the economic growth of the United Arab Emirates, by providing a safe commercial environment for companies and stimulating the building and doing business in Sharjah. One of the tasks of the Sharjah Airport Free Zone is International Facilitates the mechanism of dealing and clarifying information and procedures for companies interested in working in the free zone at Sharjah International Airport and building a strong communication network in order to unify information related to the companies’ work.

Establishing a company in the free zone, Sharjah International Airport Free Zone

Basic steps to establish a company in a free zone

Establishing a company in a free zone represents a vital strategic step for investors seeking to benefit from the distinctive business environment in the United Arab Emirates. These regions offer ample opportunities for growth and expansion, thanks to advanced infrastructure and flexible legislation that effectively supports businesses. Basic steps to establish a company in a free zone:

• Choosing a company type: Investors should select the appropriate company type for their business, such as limited liability company, sole proprietorship, or partnership, based on specific requirements and objectives.
• Determine the trade name: You must choose a unique trade name and ensure that it complies with local regulations, and its availability must be verified through the database designated for commercial records.
• Preparing the necessary documents: This includes preparing the business plan, determining the identity of the founders (identity documents and passports), and determining responsibilities and powers of attorney if necessary.
• Submitting a registration application: The registration application must be submitted to the competent authorities in the free zone, along with submitting the required documents and paying the prescribed fees.
• Obtaining licenses and permits: After the registration application is approved, the necessary licenses to start work are obtained, including commercial licenses and permits for the specific business activity.
• Opening a bank account for the company: Investors must open a bank account in the name of the company to manage financial operations and business transactions.
• Employee and labor registration: The company must register employees and labor in accordance with local labor laws, and provide social guarantees if necessary.

The specific steps vary slightly depending on the type of company and the specific free zone, but adherence to the basic legal and administrative procedures ensures a successful and sustainable start for any business in the free zone.

Differences between the types of companies available in the free zone

Establishing a company in a free zone requires careful consideration of the types of companies available, as this choice affects the company structure, responsibilities, rights, and taxes. Choosing the right type allows business objectives to be achieved efficiently and a balance between flexibility and legal compliance. Types of companies available in the free zone:

Limited Liability Company (LLC):

• Advantages: Has limited shareholder liability, can be suitable for small to medium businesses, and provides flexibility in managing operations.
• Requirements: Requires specific seed capital and identification of founding partners.

Individual company:

• Advantages: Allows the individual to carry out work independently without other participants, and operational procedures are less complex.
• Requirements: The employer is fully responsible for debts and liabilities.

Partnership:

• Advantages: Allows the distribution of responsibilities and profits between partners according to a specific partnership agreement.
• Requirements: Requires a documented partnership agreement that specifies the rights and duties of each partner.

The Public Company:

• Advantages: Allows raising funds through public offering of shares, facilitating large financing operations.
• Requirements: Requires full compliance with financial laws, regulations and financial markets.

Each type of company comes with its own advantages and requirements, and investors should choose the type that matches their business strategy and long-term goals. By choosing the right type, investors can achieve success and sustainable growth in the free zone business environment.

Tax and financial exemptions available

Tax and financial exemptions available

The Freedom Zones in the UAE are among the world’s leading places in providing a favorable and encouraging commercial environment for businesses. These zones offer a wide range of tax and financial exemptions, including income taxes and customs taxes, which enhances the ability of companies to achieve profits and grow sustainably. Available tax and financial exemptions:

• Income tax exemptions: Companies in the Freedom Zones enjoy full or partial exemption from income taxes for a specific period, which contributes to increasing profitability and enhancing the sustainability of emerging businesses.
• Customs Exemptions: Freedom Zones provide significant exemptions or significant reductions in customs duties on the import and export of goods, which facilitates supply operations and reduces operating costs.
• No value-added tax (VAT): Some services and goods in the Hurriya areas are subject to exemptions from VAT, which reduces the overall costs of business operations.
• Flexible financing policies: Companies in Al Hurriya areas enjoy flexible financing policies and financial support from the local government and local banks, which helps to efficiently finance growth and expansion.
• Support for research and development: The government provides significant support for research, development and innovation in the Freedom Zones, which enhances companies’ ability to achieve technological excellence and develop new products.

In short, the tax and financial exemptions in the Freedom Zones in the UAE provide a unique investment environment that supports companies in achieving their success and expanding internationally, making them an ideal choice for investors looking for a business environment that is conducive and encouraging for innovation and growth.

Our company’s role in establishing a company in the free zone

Establishing a company in a free zone in cooperation with Itqan Company represents an important investment step that provides broad opportunities for growth and expansion. By partnering with Itqan, all procedures necessary to establish and operate the company in a conducive and regulated business environment are facilitated.

By benefiting from Itqan’s deep experience in the local market and its comprehensive understanding of laws and regulations, investors can benefit from strategic and technical consultations that help them make the right decisions. The Freedom Zones in Ras Al Khaimah provide advanced infrastructure, in addition to attractive tax facilities that encourage investment and improve profitability.

Furthermore, establishing a company in a free zone provides great flexibility in managing operations and growth, allowing it to adapt to changes in the market and effectively meet customer needs. This strategic approach enhances the chances of success and continuity in a dynamic and evolving business environment.

In short, establishing a company in a free zone in cooperation with Itqan is not just a business launch, but rather an investment in the future, as the opportunity is to build a company based on innovation and sustainable growth in a market characterized by dynamism and broad opportunities.

Frequently asked questions about establishing a company in the free zone