Hamriyah free zone in Sharjah is one of the most prominent industrial zones located in Sharjah, UAE. Its distinctive strategic location among three continents, advanced infrastructure, trade sites, and great space for future expansions make it an emerging business zone in the Middle East. It is considered the epitome of industrial progress in the world.
Its strategic location connects international markets of Saudi Arabia, India, Iraq, and Iran. It was introduced in 1995 to start business zones that spur investors and business owners to establish businesses in a tax-free environment. Companies enjoy tax advantages, exemptions from all commercial levies, and ownership rights in this zone. They have the freedom to transfer capital and profits to their home countries.
Besides being an investor-oriented zone, the management of this zone in Sharjah is flexible and dynamic, with a primary goal to provide all facilities to merchants and workers within this area. It receives all types of containers, including oil, diesel, oils, general cargo, and a parcel which helps boost the customs activity in the zone.
There are more than 6,700 companies from more than 163 countries working at Hamriyah Free Zone in Sharjah currently. It is one of the most suitable and prominent places to establish business investors or business owners who want to set up their venture in Sharjah, the third-largest city of UAE and the Cultural Capital of the Arab World.
Why Should You Establish a Business in The Hamriyah Free Zone?
Hamriyah free zone in Sharjah, the second largest Free Zone in the United Arab Emirates, is home to thousands of businesses in various sectors, mainly petrochemicals, steel, construction, and food processing. Its strategic location connects major trade routes through Asia, Europe, and Africa. Its growing market of over two billion people makes it the most popular and sought-after free zones in the UAE.
This zone offers various benefits to the companies. Some of them are following:
Advantages of Setting Up a Business in The Hamriyah Free Zone:
- 100% Business holding
- Absolute freedom to transfer capital and profits to the home countries.
- Customs duty exemption
- Flexibility of currency
- Affordable livelihood
- Reasonable energy cost
- A good road network, electricity, and water infrastructure
- Latest and dynamic office suites
- Leasehold of 25 years, renewable for next 25 years
- Large warehouses and offices for lease
- Freedom to recruit skilled and low-cost workforce
- 100% tax exemption
- Opportunities and incentives for the investors to set up a business in a tax-friendly robust environment
- Quick Business Setup
- Online service for visas, renewals, and other applications
- Access to 14-meter-deep water port and 7-meter-deep inner harbor
The Process to Set Up a Business in the Hamriyah Free Zone?
Hamriyah Free Zone has been a major contributor to the UAE economy for more than two years by facilitating the growing small and medium enterprises.
The process to start a business in the Hamriyah Free Zone is simple and easy. The three main steps of setting up a new business are as under:
- Submit the application form along with the documents
- Pay the registration fee
- Get the trade license
Documents Needed to Achieve a License in Hamriyah Free Zone
The following documents are needed to get a license in HFZ:
- Passport copies ( Shareholders and others)
- Your visa copies and UAE entry permit
- Online application along with the signs of shareholders
- Legal documents attested in front of the free zone authority
- Your photographs (passport size)
- Name and business approvals
Hamriyah Free Zone Companies- Business Licenses Types:
Hamriyah free zone companies can have three types of licenses. If you are setting up a new business Hamriyah free zone in Sharjah, it is essential to apply for the exact type of business license according to your business. The three types of business license are:
- Industrial license for the companies engaged in importing and exporting,
- The commercial license that will allow the company to import, exports, sell, distribute or store different products,
- The service license will enable its holder to carry out various services within the Hamriyah Free Zone.
We hope that the information in this blog on Hamriyah Free Zone will help new investors and business owners to set up their ventures in Sharjah.
And if you’re planning to live in the UAE to build your business there, check out these apartment units that are for rent and sale.