How to Set Up Your Company in SAIF Zone

Guide to Business Setup in Sharjah Airport International Free Zone (SAIF Zone)

Sharjah: A Blend of Cultural and Business Excellence

Sharjah, the third-largest emirate of the United Arab Emirates (UAE), stands as a beacon of cultural diversity and business potential. Located on the southern coast of the Persian Gulf on the Arabian Peninsula, Sharjah shares various aspects of legal, economic, political, and military functions with its fellow emirates. Known for its rich heritage and vibrant cultural scene, Sharjah is also a prime destination for nature lovers and tourists. The emirate’s strategic location, coupled with its modern infrastructure, makes it an attractive hub for trade and commerce, further enhanced by the presence of the Sharjah International Airport towards its southeast.

Sharjah Airport International Free Zone (SAIF Zone)

The Sharjah Airport International Free Zone (SAIF Zone) is a hallmark of excellence and innovation in the business landscape. Established in 1995 with just 55 companies, SAIF Zone has grown exponentially and now hosts over 8,000 businesses, making it one of the most dynamic free zones in the world. It was the first airport-free zone to achieve ISO certification, underscoring its commitment to quality and excellence. Located adjacent to the Sharjah International Airport, SAIF Zone offers unparalleled advantages to businesses, including a tax-free environment, state-of-the-art facilities, and strategic connectivity to global markets.

Business Opportunities in SAIF Zone

SAIF Zone provides a fertile ground for a wide range of business opportunities across various sectors, making it a magnet for startups and established enterprises alike. Some of the prominent sectors include:

• General Trading: Engaging in the import, export, and distribution of goods.
• Perfumes and Cosmetics: Manufacturing and trading in beauty and personal care products.
• Business Consultancy Services: Offering expert advice and services to businesses.
• Manufacturing of Cages: Producing specialized cages for various industrial uses.
• Machinery Parts Assembly Hubs: Assembling parts and components for machinery.
• Freight Forwarding Services: Providing logistics and transportation solutions.
• Oil and Gas Services: Catering to the energy sector with specialized services.
• IT Services and Solutions: Delivering technology-driven solutions and services.
• Marketing Services: Offering comprehensive marketing strategies and solutions.
• Accounting Services: Providing financial management and accounting services.
• Third-Party Logistics Services: Managing logistics and supply chain operations.

Types of Businesses in SAIF Zone

Business formation in the Sharjah Airport Free Zone is structured to accommodate different types of enterprises, each with specific requirements:

1. Free Zone Establishment (FZE)
   • Requires only one shareholder.
   • Minimum capital requirement: AED 150,000.
2. Free Zone Company (FZC)
   • Requires at least two shareholders, with a maximum of seven if approved by SAIF Zone Authority.
   • Minimum capital requirement: AED 150,000.
3. Branch of a Foreign Company
   • Allows foreign companies to establish a branch in the SAIF Zone.
   • The branch name remains the same as the parent company.
4. Branch of a UAE Company
   • UAE-based companies can open a branch in the SAIF Zone.
   • The branch name remains the same as the parent company.

Benefits of Setting Up in SAIF Zone

Setting up a business in SAIF Zone offers a multitude of benefits to investors:

• 100% Foreign Ownership: Full control over business operations.
• Tax Exemption: No corporate or income taxes.
• Onsite Labor Accommodation: Convenient housing for employees.
• Long Lease Periods: Lease agreements can extend up to 25 years.
• Strategic Location: Positioned between the East and West, enhancing trade opportunities.
• Comprehensive Work Support: Easy sponsorship and visa processes for the entire staff.
• No Hiring Restrictions: Flexibility in hiring foreign professionals.
• Accessibility: Easy access to Arabian Gulf ports and the Indian Ocean.

SAIF Zone Licenses

SAIF Zone offers various licenses tailored to specific business activities, ensuring that businesses can operate effectively within the zone:

1. Industrial License
   • For importing raw materials, manufacturing, assembling, and exporting finished goods.
   • Licensing fee: AED 7,500.
2. Commercial License
   • For importing, exporting, distributing, and consolidating products.
   • Licensing fee: AED 7,500.
3. General Trading License
   • For engaging in multiple business activities.
   • Licensing fee: AED 15,000.
4. Service License
   • For professionals offering specialized services, who can later establish their own companies.
   • Licensing fee: AED 7,500.

SAIF Zone Registration Process

The registration process in the SAIF Zone is streamlined and efficient, involving three main steps:

1. Submission of Documents
   • Submit the required documents and a project outline to the marketing and sales department.
2. Approval and Payment
   • Upon receiving the approval letter, pay the lease amount and sign the agreement.
3. Collection of Documents
   • Collect the business license, lease agreement, and keys for the facilities.

Required Documents for Company Setup

To set up a company in the SAIF Zone, the following documents are needed:

• Application form
• Project summary
• Passport copies of owners/managers
• Certificate of registration/incorporation
• Memorandum of Association (MOA)
• Articles of Association (AOA)
• Board resolution to open a branch in SAIF Zone
• Bank statement for the last three months

SAIF Zone Modern Facilities

SAIF Zone offers cutting-edge facilities designed to enhance business operations and efficiency:

• Office Spaces: Modern and fully equipped office spaces.
• Warehousing: Spacious and secure warehousing facilities.
• Temporary Storage Facilities: Short-term storage solutions for businesses.
• Bunker Facilities: Specialized storage for sensitive goods.
• Labor Accommodation: Convenient and comfortable housing for employees.

How Can Incorpyfy Help?

Are you considering setting up a business in the SAIF Zone? Choosing the right business consultant is crucial to navigating the setup process smoothly. Incorpyfy business setup Consultants in uae specializes in assisting clients with business setup in the Middle East, particularly in Sharjah’s SAIF Zone. Our team of experts can guide you through every step of the process, from legal proceedings to operational setup, ensuring your business becomes a thriving part of the Sharjah SAIF Zone. Contact us to learn more about how we can help your business succeed in this dynamic free zone.

Conclusion

Sharjah, with its rich cultural heritage and strategic location, offers immense opportunities for businesses looking to establish a presence in the UAE. The Sharjah Airport International Free Zone (SAIF Zone) stands out as a dynamic hub for business activities, providing a conducive environment for startups and established enterprises alike. With its tax-free benefits, modern facilities, and strategic location, SAIF Zone is a prime choice for investors seeking growth and expansion in the Middle East. Partnering with a knowledgeable business consultant, such as Incorpyfy Management Consultants, can simplify the process of setting up in SAIF Zone, ensuring compliance and operational efficiency. Embrace the opportunities that SAIF Zone has to offer and take the next step towards business success in Sharjah.

Frequently Asked Questions (FAQs)

What are the primary advantages of setting up a business in SAIF Zone?

Setting up a business in SAIF Zone offers numerous advantages, including 100% foreign ownership, tax exemptions, long lease periods, strategic location, and comprehensive work support. Additionally, businesses benefit from modern facilities, no hiring restrictions on foreign professionals, and easy access to major ports and markets.

What types of business licenses are available in SAIF Zone?

SAIF Zone offers four main types of business licenses:

• Industrial License: For manufacturing, assembling, and exporting finished goods.
• Commercial License: For importing, exporting, distributing, and consolidating products.
• General Trading License: For engaging in multiple business activities.
• Service License: For professionals providing specialized services.

How much is the licensing fee in SAIF Zone?

The licensing fees in SAIF Zone are as follows:

• Industrial License: AED 7,500
• Commercial License: AED 7,500
• General Trading License: AED 15,000
• Service License: AED 7,500

What is the minimum capital requirement for setting up a business in SAIF Zone?

The minimum capital requirement for setting up a Free Zone Establishment (FZE) or a Free Zone Company (FZC) in SAIF Zone is AED 150,000.

What documents are required for company registration in SAIF Zone?

The documents required for company registration in SAIF Zone include:

• Application form
• Project summary
• Passport copies of owners/managers
• Certificate of registration/incorporation
• Memorandum of Association (MOA)
• Articles of Association (AOA)
• Board resolution to open a branch in SAIF Zone
• Bank statement of the last three months

How long does the company registration process take in SAIF Zone?

The company registration process in SAIF Zone is streamlined and efficient. Once the required documents are submitted and approved, the entire process, including the payment of the lease amount and signing of the agreement, can be completed within a few weeks.

Can foreign companies establish a branch in SAIF Zone?

Yes, foreign companies can establish a branch in SAIF Zone. The branch will operate under the same name as the parent company, providing a seamless extension of the foreign business.

What kind of support does SAIF Zone offer to new businesses?

SAIF Zone offers extensive support to new businesses, including assistance with licensing, leasing, and regulatory compliance. The zone provides modern facilities such as office spaces, warehousing, temporary storage, and labor accommodation. Additionally, SAIF Zone offers easy sponsorship and visa processes for the entire staff, ensuring smooth business operations.

Is there any restriction on hiring foreign professionals in SAIF Zone?

No, there are no restrictions on hiring foreign professionals in SAIF Zone. Businesses have the flexibility to hire the best talent from around the world to meet their operational needs.

How can Incorpyfy business setup Consultants assist with setting up a business in SAIF Zone?

Incorpyfy business setup Consultants in UAE specialize in assisting clients with business setup in the Middle East, particularly in SAIF Zone. Our experts guide you through every step of the process, from legal proceedings to operational setup. We handle the complexities of company formation, ensuring compliance with regulations and providing support to help your business thrive in SAIF Zone. Contact us for personalized assistance and to learn more about how we can help your business succeed.

What sectors are prominent in SAIF Zone for business opportunities?

SAIF Zone offers business opportunities in a wide range of sectors, including:

• General trading
• Perfumes and cosmetics
• Business consultancy services
• Manufacturing of cages
• Machinery parts assembly hubs
• Freight forwarding services
• Oil and gas services
• IT services and solutions
• Marketing services
• Accounting services
• Third-party logistics services

What is the process for obtaining a business license in SAIF Zone?

The process for obtaining a business license in SAIF Zone involves three main steps:

1. Submission of required documents and a project outline to the marketing and sales department.
2. Upon receiving the approval letter, pay the lease amount and sign the agreement.
3. Collect the business license, lease agreement, and keys for the facilities.

By following these steps and meeting the requirements, businesses can quickly obtain their licenses and start operations in SAIF Zone.