Sharjah Investment and Development Authority (Shurooq), which was established in 2009, is an autonomous government body tasked with asset and property management, development, and investment in the Emirate. It also examines Sharjah's social, economic, environmental, and cultural development in light of Islamic principles.
TYPES OF BUSINESS
To start a business in Sharjah, you must first choose a corporate structure. In Sharjah, the following business entities are available:
Limited Liability Corporation (LLC): It is the most preferred business entity among investors, with a maximum of 50 partners and a minimum of two. The partner's liability is limited to the amount invested in the business.
Partnership Company: In Sharjah, a partnership company must be formed by two or more individuals, and they are liable for the company's liabilities to the extent of their shares.
Local Service Agent: Individual companies managed by a single person are known as sole proprietorships. If the owner is not a U.A.E. or G.C.C. national, a local service person who is a U.A.E. national must be present.
Public/Private Shareholding Company: A Public SC has a share capital that is divided into equally valued tradable shares. A private SC is bound by the same rules as a public joint-stock company.
PROCEDURE
It is critical to follow the procedures and legal formalities when starting a business in Sharjah. Commitbiz's team can assist you with all of the necessary judicial proceedings and documents for Sharjah company registration.
Get the company's lease agreement and Memorandum of Association (M.O.A.) signed by a public notary
Furnish the required documents to get a payment voucher issued
Fulfill the licensing requirements and pay the license fee to get a trade license issued
Obtain approval from the Name Board
Apply for an Establishment Card
Get approval for hiring an employee from the Ministry of Labour
Get a stamp on a visa from the Immigration Department
Obtain special approvals, if applicable
Determine the type of economic activity your business would be conducting
Find a local sponsor
Choose a legal form for your business
Submit a company registration application submission with the proposed company name to the Department of Economic Development (D.E.D.)
File the company's documents with the D.E.D. to obtain a trade license from the Chamber of Commerce and Industry
Get the trade name of the company registered
Obtain initial approval
Obtain approval for location and inspection from the Municipality
DOCUMENTS REQUIRED
Certified copy of the tenancy contract
Certificate of No-Objection letter, visa, passport, and residency proof photocopies
Land map of ownership certificate photocopy
Approval from Legal Affairs
Approval from the Ministry of Economy
Approvals from other government entities, if required
Partnership contract certified by a public notary
National ID and family book photocopies
Signboard
Technical evaluation report
Trade name certificate
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