SAIF Zones provides some of the most appealing business incentives in the region, including speed of service and ease of process. It provides immense for the companies involved in aviation sector and infrastructure related companies that carry out trading of perishable products. Versatility is one of the prime objectives of SAIF-ZONE. From single office space to entire manufacturing facilities, the business setup in SAIF zone options are designed to accommodate every business and every scenario.
Pre requisites for business set up in SAIF ZONE
The process to Business Setup in SAIF Zones can be smooth and easy by conducting a proper plan. Below mentioned are the pre requisites for business set up in SAIF zone
- Deciding an appropriate free zone: Rules and regulations are different for different ownership types and business establishments. Selecting a legal entity type to run the business under is considered important.
- Preparing a business setup plan: a proper business planning can help to document the business concept, vision, research and all other elements into a presentable and professional business plan that so that it can be shared with various government authorities.
- Choosing a company name and reserving it with the desired free zone: While deciding upon the type of legal entity the business should take, you should choose a trade name. It is important to check with the respective free zone authority about the permitted trade names and whether the intended name has already been registered or not.
- Depositing minimum capital amount: minimum capital amount has to be deposited before initiating registration process, there are different rules a regulation for different types of entities setup in in this free zone. So, the capital requirement may vary according to the type of entity
Also Read: Everything You Need to Know About Setting Up a Business in Sharjah Airport International Free Zone (SAIF Zone)
Stages to setup business in Sharjah airport international free zone
Here are the stages to set up a business in SAIF free zone.
Stage 1 Initial approval for business set up
Obtain initial approval form relevant government authority by providing all the important document regarding the company
Stage 2 Registration of trade license
After getting an initial approval the next step is to pay necessary fees and register the business. The cost depends upon the type of business license required.
Stage 3 Licensing and visa process for business set up
Under this process
- Lease agreement will be prepared by authority
- Then the trade license will be issued
- Visa processing will start
Benefits offered for for Investors in SAIF Zone
SAIF ZONE offers multiple benefits to its investors such as
- A foreign investor can avail sole ownership
- The tax burden is removed and a foreign investor
- It provides the flexibility of onsite labor accommodation
- The lease period is elongated
- Unlimited work support, easy sponsorship, and visa for the entire staff
- No restriction in hiring foreign professionals
- Flexibility and accessibility to important sea ports and airports
Documents Required for Business Registration in SAIF Zone
Documents required for business set up in SAIF zone are
- Application form
- Project summary
- Documents related to company
- Bank statement
Business setup services in SAIF ZONE
FAR Consulting Middle East specialize in dealing with clients who want to set up business in middle east region. Our business experts can help you in core business set up in SAIF zone. Contact us we will be glad to assist you and help your business to become a part of Sharjah SAIF zone