Free zone is a particular geographical area in the emirate where 100% foreign ownership is allowed. Free zones do not require partnership with a UAE citizen or with a local service agent.
Hamriyah Free Zone Sharjah (HAFZ) is located in the emirate of Sharjah.
Apparent advantage of Sharjah is its convenient geographical position. Only Sharjah provides exit to Gulf sea ports (Port Khalid) and access to the Indian Ocean (Khor Fakkan Port.)
Hamriyah Free Zone Sharjah is gradually becoming one of the main industrial development centers of the United Arab Emirates.
It is conventionally divided into 7 zones, which are grouped by various activities. These are zones dedicated to oil and natural gas industry, steel, construction, petrochemicals, timber, perfume manufacturing and shipping.
Clients may benefit from renting a virtual office, a standard office space, a warehouse, a labor camp or a plot of land in Hamriyah Free Zone Sharjah.
minimum share capital requirement amounts to AED 150,000 (USD 41,096). Share capital may be reflected in statuary documents without actual transfer of funds into bank account.
1 year only, as in any other emirate, after which the license needs to be renewed.
It is mandatory to appoint auditors and submit annual audit report at the end of company’s financial year.
Company’s license is due for renewal prior to its expiration date, otherwise, penalties for late renewal apply.
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