The Hamriyah free trade economic zone, the UAE (FTZ)

The Hamriyah Free Tarde Economic Zone (HFTZ) is the territorial unit on the territory of the Emirate of Sharjah, which has the special status and the preferential conditions for carrying on business. The project is aimed at stimulating the development of the national industrial sector. The free trade economic zone is located on a vast area of more than 20 thousand square kilometers and includes the commercial and industrial facilities.

Hamriyah Free Zone, Sharjah: mission and purpose

The main purpose of the Hamriyah FTZ, Sharjah, the UAE, is attraction of the significant investments into the national economy, and therefore the economic growth and development. As еру international platform, the free zone is the ideal solid platform for creating and development of the international production and industry.

All the necessary conditions for conducting of commercial, trade and other economic transactions are created here in order to attract leading international producers and highly-qualified personnel from all over the world. Provision of land lots for construction, necessary commercial and residential buildings, urban and social infrastructure, efficient tools for optimization of the production processes, environmental safety and social comfort – all this and many other is offered to potential investors and partners of the HFTZ free trade economic zone.

Services for entrepreneurs and international investors

Clients and business partners of the Hamriyah free trade economic zone, Sharjah, can count on the following services:

Direct access to the deep-water sea port, with the appropriate port logistics;
Long-term land lease (25 years) with the possibility of prolongation;
Ready-to-use storage and production facilities, office and retail premises;
Well equipped conference hall and business center for negotiations and business meetings;
Accommodations for company employees, including the social infrastructure, fitness centers, parks, recreation rooms, cafes and entertainment venues;
Shipping and transportation of cargo by air, sea and land transport;
Modern telecommunications networks and developed engineering infrastructure;
Relatively low cost of the energy and water resources;
Possibility of attracting the foreign labor force;
Relatively low cost of living and affordable rent.

To take the advantages of all the above mentioned services, an international company must undergo the procedure of respective registration and obtain the appropriate business license.

Hamriyah FTZ: licensing of the activities and types of companies

Issuance of the following types of governmental licenses is provided for the execution of the legal economic activity on the territory of the HFTZ economic zone:

Industrial business license;
Commercial business license;
Business license for the provision of services.

The free zone business license is valid only on the territory of the HFTZ economic zone and is due for annual extension.

Accordingly, the following international companies can obtain the state business license:

Free Zone Establishment: legal form with the sole founder, the minimum requirement of the share capital for registration is 50 thousand Dirhams;
Free Zone Company: there can be up to five owners, the requirements for registered capital are similar;
representative offices of the local or foreign companies: the procedure of incorporation is obligatory for the foreign branches; there are no requirements and restrictions on the share capital.

Registration and the subsequent economic activity of the international companies in the territory of the Hamriyah free trade economic zone, the UAE, is carried out on the following conditions:

There is no prerequisite to involve a local partner for company registration, the 100% foreign ownership of business is possible;
Companies, which operate in the jurisdiction of the HFTZ, are fully exempted from the corporate taxation;
There are no import and export duties;
There are no restrictions on the distribution of the gained profits and the withdrawal of the assets outside the jurisdiction.

The registration procedure

It should be noted that, on the territory of the Hamriyah FTZ, the UAE, the procedure of registration or incorporation of an international company, in the case of contacting us, can be completed in a day, and a residence visa will be ready in about a week to 10 days only.

Hamriyah FTZ, Sharjah : advantages and opportunities for international business

A special status of the jurisdiction provides a number of opportunities and competitive advantages for entrepreneurs and potential investors. In particular, the following features of the jurisdiction can be singled out:

Strategically advantageous location, which provides a direct access to many regional and international markets;
Availability of the customs agreements, which provide preferential terms of trade in the Persian Gulf States;
Investment attractiveness of the projects and government guarantees;
Availability of the relatively inexpensive energy resources for production;
Possibility of investing in land lots and construction objects;
Access to the international air and sea ports;
Advanced legislative framework, which guarantees protection of the right of ownership and investment assets;
A high standard of living and a favorable business environment.

Conclusion

The Emirate of Sharjah in the UAE is the leading player in the national manufacturing sector and serves not only the local market. It is the only Emirate that has shipping ports both on the East and West coast, which provides a direct access to the waters of the Indian ocean.

It is a strategic platform, besides, the favorable conditions for carrying on business are offered. It would be unjustifiable for the investor, who is engaged in the industrial sector and who plans to enter the international markets, to lose sight of the opportunities of this free trade economic zone. Contact us and learn more about the possibilities for your business in this FTZ.