Looking to form a company in Sharjah? Sharjah has several global MNCs, local entities and other companies who have been attracted by the multiple incentives offered to start-ups and existing businesses by the Government.
Types of Business Licenses in Sharjah
There are several types of business licenses in Sharjah:
- Professional Licenses- These licenses are provided to service providers, professionals, management consultants, skilled laborers and other categories. For getting professional licenses in Sharjah and managing organizations, all requisite qualifications are needed.
- Commercial Licenses- Commercial licenses are given by the Sharjah Economic Development Department (SEDD) which is necessary for execution of activities linked to buying and selling, contracting, general trading, pharmacies, restaurants, jewellery stores and more. These necessitate added permits.
- Industrial Licenses- Industrial licenses are mandatory for establishing manufacturing or industrial businesses in Sharjah. There are regulations for community safety to be adhered to and setting up businesses requires approvals from several organizations including Sharjah Civil Defense Authority, Ministry of Economy, Sharjah Electricity and Water Authority and others.
Kinds of Companies that Can be Established in Sharjah
There are several kinds of companies that may be established in Sharjah. Here’s taking a look at the same:
- LLC (Limited Liability Company) – LLCs are required to have at least 2 and a maximum of 50 members in this particular structure. For LLC establishment in mainland Sharjah, at least 51% of company shares should be owned by any UAE national and for enterprises set up in free zones across Sharjah, it is not mandatory to have a local service agent who is a UAE national.
- Partnership Companies- Partnership companies are required to have at least two or more shareholders with exemptions for enterprises which have been set up in free zones in Sharjah. At least one UAE national has to be a partner in the partnership company and this is something that should be kept in mind.
- Civil Companies- Civil companies are businesses which are set up for carrying out operations professionally in mainland Sharjah. Qualified and expat investors may establish civil firms with ownership of the majority of company shares. However, the major condition here is that the local service agent should be a UAE national.
- Sole Proprietorship- For forming companies in the Sharjah mainland, UAE nationals may establish sole proprietorship wherein they have ownership of full business shares. Foreign investors are also allowed to be sole proprietors in Sharjah although local service agents have to be appointed for representation of the company in carrying out administrative and official processes. For sole proprietorship in free zones, foreign nationals can have 100% ownership of foreign businesses.
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