Establishing a company in the Hamriyah Free Zone

Learn about establishing a company in the Hamriyah Free Zone, because this region is considered the second largest industrial free zone in the United Arab Emirates, extending over an area of ​​26 million square metres. Establishing a company in the free zone is considered an important and exciting investment step for many entrepreneurs and investors. The free zone is located in Hamriyah, Emirate of Sharjah, and is considered one of the largest free zones in the United Arab Emirates. The region is characterized by a modern and developed investment environment that provides many advantages and economic opportunities for emerging, medium and large companies.

Hamriyah Free Zone offers many competitive advantages to companies, such as the absence of taxes on profits and investments, easy access to the local and regional market, advanced infrastructure that supports business, in addition to the availability of skilled labor and advanced technology.

Through this article, we will explore the advantages of establishing a company in the Hamriyah Free Zone, and the basic steps that must be followed to achieve company success in this exciting and evolving economic environment.

Establishing a company in the Hamriyah Free Zone

Establishing a company in the Hamriyah Free Zone in cooperation with Itqan Company is an ideal choice for investors who are looking for integrated support and local expertise in the process of establishing companies. Itqan Company provides comprehensive consulting services that include assistance in choosing the appropriate type of company and identifying the best commercial activities that can achieve success in the free zone. Itqan also provides assistance in preparing and submitting the necessary documents to establish the company, such as articles of incorporation and articles of association, in addition to providing support in obtaining the necessary licenses and permits from the relevant authorities.

One of the most important benefits provided by cooperation with Itqan Company is its deep understanding of local laws and regulations, which facilitates the process of establishing the company and ensures avoiding making mistakes that may lead to delaying the establishment process. Itqan also provides ongoing support services after the company’s establishment, such as accounting, taxes, and human resources management services, to ensure the company’s continued growth and development.

In addition, Itqan can provide advice and guidance on how to make the most of the competitive advantages offered by the Hamriyah Free Zone, such as the absence of taxes on income and profits, and easy access to the local and regional market. Overall, cooperation with Itqan Company is a wise move for investors seeking to establish successful and sustainable companies in the Hamriyah Free Zone.

Steps to establish Hamriyah Free Zone companies

There are steps for establishing a company in the Hamriyah Free Zone, which include many basic steps that must be followed to ensure the success of the establishment process, and it requires following the following steps:

• Choosing the type of company: You must select the type of company appropriate to the business needs, such as a sole proprietorship or joint stock company.
• Submitting a registration application: An official application to establish the company must be submitted to the responsible authority in the free zone.
• Determine the commercial activity: The company’s main and secondary commercial activity must be determined according to the list permitted in the free zone.
• Determine the shares and shareholders: In the case of a joint stock company, the shares, shareholders and their percentage in the company must be determined.
• Preparing the necessary documents: You must prepare and submit the legal documents required to establish the company, such as the articles of association and articles of association.
• Obtaining the necessary approvals: The necessary approvals must be obtained from the relevant authorities, such as the Federal Authority for Standardization, Metrology and Quality.
• Opening a bank account: A bank account must be opened in the name of the company to manage financial operations.
• Company registration: After fulfilling all conditions and procedures, the company is officially registered in the Hamriyah Free Zone.
• Registration in the Commercial Registry: The company must be registered in the relevant commercial registry in the Emirate of Sharjah.
• Labor Recruitment: In case of need, the necessary labor can be employed to manage and operate the company.

These are the general steps that must be followed to establish a company in the Hamriyah Free Zone, and some procedures may differ according to the type of company and its activity. It is important to obtain local legal or accounting advice for accurate guidance depending on the circumstances of the individual company.

Business areas allowed in the Hamriyah Free Zone

Hamriyah Free Zone provides a wide range of business opportunities and allows for many different business fields. These areas include:

1. Manufacturing and heavy industries: The Hamriyah Free Zone provides advanced infrastructure that supports manufacturing and heavy industries, allowing companies to produce high-quality products with high efficiency.
2. Logistics and Distribution: Thanks to its distinguished location next to Khor Fakkan Port, the region is considered a transportation and distribution center, making it an ideal place for logistics and distribution companies.
3. Technology and Innovation: Hamriyah Free Zone encourages emerging and innovative companies in the field of technology and innovation, and provides an ideal environment for developing ideas and turning them into successful products and services.
4. Financial and consulting services: The region provides a suitable environment for financial and consulting services companies, making it a preferred destination for companies operating in these sectors.
5. International Trade: Thanks to easy access to global markets, the Hamriyah Free Zone is an ideal place for international trade companies and the exchange of goods and services.

In short, the Hamriyah Free Zone provides an ideal commercial environment for a variety of businesses, making it a preferred destination for companies seeking growth and expansion in the Gulf region and Middle East market, as this region is considered a good platform for those wishing to thrive in the food industry, given that it is considered a center dedicated to the food industry. And related industries that deal in manufacturing, importing, exporting and repackaging foodstuffs. Those looking to establish companies in the food industry can benefit from the “Food Park” which includes value-added services provided in this regard, from certification of halal products, food testing and laboratory services.

The necessary papers to establish a company in the free zone

To establish a company in the Hamriyah Free Zone, you will need to submit a set of necessary papers and documents. This is a general list of necessary documents, and requirements may vary based on the type of company and its activity:

• Establishment application form: This is the official form submitted to the relevant authorities in the free zone.
• Articles of Association: It contains details of the partners and the work that the company will carry out.
• Articles of Association: Determines the organizational structure of the company and the duties of partners and managers.
• Passport: A certified copy of the passport for each partner in the company.
• Financial Report: You may be asked to submit a financial report showing the company’s ability to bear costs.
• Bank Letter of Guarantee: You may be required to provide a bank letter of guarantee as proof of your ability to afford the costs.
• Residence permit: It may be necessary to provide a copy of the residence permit for partners.
• Personal photos: Personal photos of every partner in the company.
• Health Insurance Declarations: You may be required to provide health insurance declarations for partners.

Please note that this list is based on general requirements, and additional documents may be required depending on the individual case. It is always best to inquire with the concerned authority in the free zone to obtain an accurate list of required documents.

Advantages of establishing a company in the Hamriyah Free Zone

Establishing a company in the Hamriyah Free Zone provides many advantages and investment opportunities for new, medium and large companies. Hamriyah Free Zone is considered a gateway for companies seeking to benefit from a developed commercial environment and a favorable investment climate. Among the most prominent features:

• 100% retransfer of capital and profits abroad
• 100% exemption from import and export duties
• No tax is imposed on corporate gains or personal income in most cases
• No restrictions on the use of currency
• Low cost of operations
• Pre-built offices, factories and warehouses
• Fast establishment and licensing procedures
• Single window for customs clearance; That is, multiple administrative services in one station
• Provides labor recruitment assistance and additional support services, such as sponsorship and on-site housing
• Abundant and inexpensive energy
• Excellent infrastructure, communications, and attractive work environment

How can you establish a company in the free zone?

Establishing companies in the free zones in Dubai is much easier than establishing a company inside Dubai, as it can be 100% owned by any nationality, and the presence of a partner or sponsor who is a citizen of the UAE is not required, as the company is registered as a free zone establishment or it is a company belonging to The free zone or a branch or representative office in the free zone in Dubai. In this case, it is possible for the main company to be outside the Emirates, and it is not required to be inside the Emirates. The companies located within the free zone are regulated through the authority responsible for the free zone, which is the one that issues any licenses to the company. This depends on the location of the free zone and the activity it carries out. The type of license issued by the responsible authority varies according to the commercial activity. A company can be established in the free zone by following some steps, including:

• Choose the company’s location
• Agreeing on the trade name, as it is the name that distinguishes one company from another.
• Obtaining the company’s business license.
• Obtaining initial approval to start work.
• Commercial license registration.
• Complete the requirements for a commercial license and obtain it.

The cost of establishing a company in the Hamriyah Free Zone

The cost of establishing a company in the Hamriyah Free Zone depends on several factors, including the type of company, its size, and the services it needs. Here are some estimated costs that may be included in the incorporation process:

• Registration fees: These fees include the cost of submitting an application for incorporation and registering the company in the free zone, and vary according to the type and size of the company.
• Administrative services fees: You may need to pay an annual free zone administrative fee to use the public infrastructure and services.
• Legal and accounting consulting fees: You may need legal and accounting consulting to prepare the necessary documents and ensure the company complies with local laws and regulations.
• Office rental fees: If you need an office in a free zone, you may need to pay a monthly or annual rental fee.
• Necessary capital: You may need to provide the necessary capital to establish the company, and it varies according to the type of company and commercial activity.
• Permits and Licenses Fees: You may need to pay fees to obtain the necessary licenses to conduct your business in the free zone.

Please note that these costs depend on the individual circumstances of each company, and it is preferable to obtain local financial advice from Itqan Company to accurately estimate the costs of establishing your company.

In conclusion, establishing a company in the free zone in cooperation with Itqan Company represents a strategic and important step for investors seeking success and stability in the business market. Itqan Company provides comprehensive support and assistance to new and existing companies, from the planning stage to the company operation stage, making the establishment process easy and smooth.

In addition, cooperation with Itqan Company provides an opportunity to benefit from its extensive experience and knowledge of local laws and regulations, which reduces risks and ensures full compliance with legal regulations. The advisory services and support provided by Itqan also contribute to achieving sustainable success for the company in the competitive business environment.

In short, cooperation with Itqan Company represents an ideal choice for investors seeking to establish their companies in the free zone, as it provides them with the necessary support and services to ensure the success of their business and achieve their goals efficiently and effectively.

Frequently asked questions about establishing a company in the free zone