Shams is one of the most competitative free zone, as it offers one of the low cost company setup in the UAE.
Shams is one of the few free zones which offers renowned business system and affordable business setup.
Text us on WhatsApp or call us today to set up your business as we offer all required services for a company setup in SHAMS Free Zone.
No, you will own all of your business at 100%.
You can open a branch or branches approved by the relevant authorities.
Under the Value Added Tax Law No. (8) of 2017, companies registered in Sharjah Media City (Shams) are required to register for VAT. Shams will offer value-added subscription services to its customers. Shams will also impose a 5 percent VAT on certain goods and services.
Any port in the UAE can provide you with an import/export code.
No. The Investor doesn’t have to be a resident of UAE to setup a business in SHAMS
The address of your company will be Sharjah Media City (Shams).
A list of banks and their details are provided. Representatives of Sharjah Islamic Bank and RAK Bank are available at the Shams office to answer your questions.
Yes, you are allowed to live in Dubai or another Emirate and form a corporation outside of it. It is not mandatory for you to reside in the same Emirate as your visa. Additionally, you can create a bank account in a Dubai branch of any UAE bank of your choice.
No, you have to travel to the UAE. All local banks are required by the UAE Central Bank to abide by this regulation. To make sure the bank recognizes the client, a face-to-face meeting is necessary.
The official office of a company in SHAMS must be situated solely in SHAMS where it was registered. Depending on the package you choose, you can rent a space at a business center and utilize it either daily or monthly if you need an office in Dubai. However, the flexi desk—the minimal amount of space required in the free zone—cannot be taken away.
The company's present operating location as well as the place of incorporation determine its VAT obligations. First of all, when your taxable turnover surpasses 375000 AED, VAT is applied. "Taxable turnover" describes commerce that is done within the United Arab Emirates. If your business is registered with SHAMS but your commerce occurs outside of the UAE (for instance, you sell goods from India to Africa), your turnover is not taxable because the transactions are happening outside of the UAE. It suggests that you are not required to pay VAT.
About AED 100,000 is SHAMS LLC's capital requirement. The money given to SHAMS LLC might be utilized to fund business activities. The capital amount's initial investment is optional. The free zone government does not need Sharjah Media City LLC to submit its audited yearly reports.
