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Sharjah Media City (SHAMS)

 

SHAMS is great for freelancers and entrepreneurs in technology and media, as well as other creative industries, attracting both established businessmen and start-up companies.  Here you will receive high level service at a low price.

 

Company advantages in the  Sharjah Media City

 

The initial price of the company - $ 2300 / AED 8400

- Combining service and trading licenses

- Possibility of obtaining up to 6 resident visas

- Possibility of 100% foreign participation

- Exemption from taxes on business income (excluding VAT 5%)

- No restrictions on hiring foreign workers

- High level of confidentiality 

- Possibility to obtain tax resident status

- The company has the right to obtain a resident visa for shareholders and employees

- No customs duties when working with the Gulf countries

 

Types of companies

 

- Limited Liability Company (LLC)

- Branch of the company

 

Types of licenses

 

- Service

- Trading

- Holding license (without obtaining visas)

 

Shareholders and management

 

The participant may be individual or legal entity. The maximum possible number of participants is 8.

Director is required, may be one of the participants. Manager is required, may be one of the participants / directors

 

Authorized capital

 

Confirmation of authorized capital  payment is not required.

 

Office spaces

 

- Dedicated workspace (for individual work)

- Shared workspace (shared  workplace)

- Dedicated office (personal office, with access only to employees, with

office accessories)

- Shared office space (shared office premises)

 

Visas

 

A company can apply for a maximum of 6 visas, the number of which is determined at the registration stage.  A company can be created without visas.  It is possible to obtain an investor visa (for 3 years) and an employee visa (for 3 years).

No deposit is required for a visa application.

Each application for a visa requires payment of a fee for issuing a visa (paid when renewing a license every year).  The number of visas to be used in each company must be decided at the time of registration.  Visa preparation time - 7 working days (approximately)

The minimum age for a shareholder to apply for a partner / investor visa is 19 years.  Shareholders under 69 years old are entitled to apply for a work visa.  Non shareholders applying for work visas should not be older than 59 years.

 

Accounting and auditing

 

Each company is required to keep proper accounting records, the documents of which must be stored in the registered office of the company and be available for management.  Audit report is not required.

 

Documents received after registration

 

Originals:

1. Charter (if required)

2. License

3. Register of shares

4. Certificate of incorporation

5. Certificate confirming the right to use the office space (office)

 

Notes

 

1. The registration deadline for a company is 3-5 days from the filing date.

2. Personal visit of the shareholder or his representative is required. 

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The specialists of PARUS are always ready to advise you in more detail on all issues regarding the company registration procedure in  Sharjah Media City