Sharjah Research, Technology & Innovation Park (SRTIP) Free Zone plays a key role in providing a highly advanced ecosystem for investors engaged in scientific research and technological innovation. The landscape of business setup in SRTIP offers the foreign investors a progressive platform to research, develop and manage innovation in an efficient and cost-effective way. The free zone has a sophisticated infrastructure and flexible regulations to enable the progress of scientific research & innovation in the country.
Launched in 2016, the free zone achieved overwhelming results in a short span of time. An efficient innovation ecosystem, excellent research facilities, smooth registration procedures etc., make the free zone a string magnet for direct foreign investment. Apart from such attractive factors, the process of business setup in SRTIP offers benefits like 100% ownership, strategic location, zero corporate tax, 100% repatriation of capital etc. The registration process can be quickly completed with the advice of business setup consultants in UAE.
Research Areas in Sharjah Research, Technology & Innovation Park
The environment of business setup in SRTIP allows the investors to open innovative companies in a wide range of research fields. The six research fields available for company formation in SRTIP are as follows:
1. Renewable Energy
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The Renewable Energy field gives emphasis to companies focusing on segments such as solar thermal energy technologies, waste to energy technologies, smart grids and energy storage and biofuel production technologies.
2. Water Management
STRTIP’s Water Management project includes areas such as purification and desalination technologies, water recycling & wastewater treatment, water monitoring and conservation, artificial rain making technologies, and aquaculture.
3. Environmental Technology
The Environmental Technology field gives business setup opportunities in sectors such as Waste Containment & Remediation Technologies, and Green Building Construction and Equipment.
4. Transport & Logistics
This area of research covers sectors such as high performance and advanced materials, sensor technologies, mobility systems and autonomous vehicles, marine and air freight technologies and urban planning systems.
Digitalisation encompasses activities including big data, the internet of things, quantum computing and smart city applications and solutions.
6. Smart Manufacturing
The smart manufacturing section facilitates activities such as robotics and artificial intelligence, rapid prototyping and digital fabrication, advanced building and construction materials, production and factory planning, and contemporary Arabic architecture.
Packages for Business Setup in Sharjah Research, Technology & Innovation Park
The environment of business setup in SRTIP remains attractive due to the flexible and cost-effective company formation packages offered by the free zone. The packages are carefully designed to suit the requirement =s of each business. However, the investors need to consider the features and costs of such packages before setting up a business in SRTIP. If professional advice is required, entrepreneurs can consult with the business setup consultants in Sharjah.
The following is a list of business setup packages in the SRTIP Free Zone:
1. Maktabi Package
Here, the entrepreneurs can select a desk, bring their laptops and start operations in a friendly and inspiring atmosphere. The benefits of company formation in SRTIP under Maktabi Package include furnished office space, three desks, and allocation of six visas per office, private working area, meeting rooms, free Wi-Fi, 24*7 security and onsite parking. The cost of setting up a business in SRTIP under the Maktabi Package starts from AED 25,000 per year.
2. Women in Innovation Package
The Women in Innovation Package is a subsidised business solution for women entrepreneurs who wish to start a company in SRTIP’s focus areas. The benefits of business setup in SRTIP’s Women in Innovation Package include unlimited access to the free zone’s Innovation Lounge, access to confined private areas designed for women, fats track business setup process, business setup support services, access to networking events, access to University City students and researchers and easy access to local, regional and international markets. The cost of company formation SRTIP under this package starts from AED 9,000.
3. Startup Office Package
SRTIP’s flexible Startup Office Package allows access to 16sqm offices for startup ventures. The benefits offered by this package include a designated desk, shared working space, furnished areas, three visas per desk, meeting rooms, receptionist, free Wi-Fi, 24*7 security, and onsite parking. The cost of business setup in SRTIP starts from AED 25,000 per annum.
4. SME Office Package
By choosing the SME package, entrepreneurs can set up their office within the SRTIP Head Quarters. They can set up their company in a 27sqm fully furnished office. The benefits of company incorporation in SRTIP include a furnished office, four sex desks, eight visas per office, a private working area, meeting rooms, receptionist services, free Wi-Fi onsite parking and 24*7 security. The cost of starting an SME in SRTIP starts from AED 50,000 per annum.
5. First Step Hi-Tech Office
The First Step Hi-Tech Office is available for businesses less than three years old. The benefits include unlimited Innovation Lounge, access to network events, fast-track incorporation process, business support services, access to University City students and researchers and accessibility to local, regional and international markets. The cost of company incorporation in SRTIP under this package starts from AED 15,000.
6. Ecosystem Office
By availing of the Ecosystem Office, entrepreneurs can set up their company in SRTIP’s fully furnished office spaces sized 50-80 Sqm. Investors can avail of benefits such as fitted office, 10+ visas per office, private working area, receptionist services, 24*7 security etc. Consult with business setup consultants in Sharjah to know more information about this package. The price of Ecosystem Office starts from AED 110,000.
7. Innovation Plot
Innovation Plots are land for lease specifically created for developers and retailers to establish their projects within SRTI Park. Benefits of the Innovative Plot package includes competitive lease rates, plot allocation within prime Sharjah Location, visas included as per the needs of applicants, and 24/7 security. The package is available at flexible costs. Business setup consultants in Sharjah can help the investors with further details.
Benefits of Business Setup in Sharjah Research, Technology & Innovation Park
By setting up a company in SRTIP, the businesses can avail of the following benefits:
- Complete control of the business with 100% ownership
- No need to pay corporate or personal tax
- No import or export duty
- Investors cab repatriate complete capital and profits earned
- Access to networking, students and researchers
- Ability to extend the business into the mainland with a Dual License
Compliance Requirements in Sharjah Research, Technology & Innovation Park
Companies operating in SRTIP Free Zone are required to comply with legal and economic regulations such as Economic Substance Regulations (ESR), Ultimate Beneficial Ownership (UBO), and Anti-Money Laundering & Combatting Financing of Terrorism (AML-CFT). Companies under liquidation in SRTIP are also required to comply with these regulatory requirements. Failing to comply with these regulations will result in hefty penalties, reputation damage and even revocation of trade license. Business setup consultants in Sharjah can help the companies comply with these regulations.
Avail of the Best Business Setup Services in Sharjah, UAE
The environment of business setup in SRTIP is highly conducive for innovative & scientific businesses. However, the rules of business incorporation in SRTIP may appear to be complex for new companies, startups & SMEs. In order to clear the licensing process, the businesses can avail of the best setup services in UAE. Business setup consultants in Sharjah, such as Jitendra Business Consultants (JBC), provide the best business setup services for foreign investors.
JBC has helped thousands of companies to get incorporated in the UAE free zones, including SRTIP. Our services are efficient and designed to simplify the process of company formation for entrepreneurs, SMEs, startups and large corporate groups. We can help the investors to meet the requirements such as visa application, document drafting, PRO services etc. JBC can also assist businesses with compliance requirements such as ESR, AML-CFT, and UBO. Consult with our consultants today to start a business in SRTIP as fast as possible.