Hamriyah Free Zone is an industrial powerhouse boasting a key role in turning Sharjah into a destination of foreign investments. The year 2021 has been a critical year for the free zone as it retained its status as a favoured investment destination by attracting nine new companies from regions such as the USA, African countries, India, and others. The landscape of business set up in Hamriyah free zone stays attractive to expatriate investors due to its outstanding facilities, incentives, and advantages provided by the free zone to further strengthen its attraction to investors.
The new investments in Hamriyah free zone are spread out over an area of 850,000sqft ranging from warehouses and plots of land, with a total investment value of about AED 271 million. Business setup consultants in Sharjah can help you access the benefits and incentives offered by the Hamriyah Free Zone Authority. Read ahead to know the reasons why Hamriyah Free Zone consolidates its position as a top investment destination:
1. Strategic Location in Sharjah
Established in 1995, the Hamriyah free zone is strategically located in Sharjah, which is the third-largest emirate in the UAE and the Cultural Capital of the Arab World as declared by UNESCO. The free zone enjoys a greater geographical advantage for its proximity to the Gulf of Oman to the East and the Arabian Gulf to the West. Sharjah is strategically located between the Far East and Europe, which provides the investors with access to key markets such as the Kingdom of Saudi Arabia, India, Iraq and Iran.
2. Three types of Trade Licenses
The process of business setup in the Hamriyah free zone is highly advantageous to foreign entrepreneurs as it offers a wide range of economic activities. The profitable business activities provided by the free zone are covered under the Commercial, Services and Industrial Licenses.
A Commercial license permits activities such as import, export, sale, distribution and storage of goods. A Service License authorises specific professional services mentioned in the license. An Industrial license in Hamriyah free zone permits the import of raw materials for manufacturing, processing and/or assembling products.
3. Hamriyah is a Hotbed of Industrial Activities
There is a strong reason why Hamriyah free zone is called an industrial powerhouse. The free zone offers a wide range of industrial activities that contributed to bolstering the economy of Sharjah and the UAE in general. The free zone is dubbed the second largest industrial free zone in the UAE. Some of the profitable industrial segments offered by the free zone are:
- Heavy Industry
- Logistics & Transportation
- Oil & Gas
- Food Industry
- Packaging Industry
4. World-Class Infrastructure
The first thing investors expect from an industrial free zone in the UAE is the infrastructure and facilities being offered. Hamriyah free zone in that aspect has done justice to its tag as one of the best industrial free zones in the UAE by providing world-class facilities and infrastructure. The free zone offers facilities such as:
- Prefabricated warehouses of international standard
- Industrial land plots starting from 2,500 sqm
- Cost-effective office spaces
- Free car parking for Hamriyah free zone companies
- On-site labour accommodation with state-of-the-art facilities
5. Easy Business Setup Process
Unlike the process of business setup in Sharjah mainland, the incorporation is fairly straightforward in Hamriyah free zone. Entrepreneurs need not worry about running around the departments for approvals. The free zone offers all major services under one roof making the process of business setup in Hamriyah hassle-free. Investors applying through business setup consultants in Sharjah can obtain a license quicker.
6. General Free Zone Benefits
Foreign investors choose the process of business setup in UAE free zones due to the unparalleled benefits being offered. Investors are entitled to such general free zone benefits by setting up a business in Hamriyah free zone. Some of the benefits include:
- 100% foreign ownership
- Zero corporate tax and zero personal income tax
- Ability to recruit foreign workforce at lower costs
- Excellent connectivity
- Complete repatriation of profits & capital
- Import and export tax exemption
Incorporate Through Business Setup Consultants in Sharjah
A new investor coming to Sharjah to start a business may become confused by various laws and regulations. However, applying through business setup consultants in Sharjah such as Jitendra Business Consultants (JBC) will make the process easier for the entrepreneurs. Furthermore, business setup in Hamriyah free zone is easier due to the availability of many services under one roof. JBC is one of the leading providers of business setup services in the UAE with more than 20 years of experience.
We have a team of highly qualified business setup consultants well versed in the UAE immigration laws and labour laws. We will assist you in key requirements such as advice on selecting an ideal free zone, choosing a business activity, drafting legal documents, visa processing, bank account opening etc. JBC also helps business owners to comply with mandatory requirements such as VAT, Economic Substance Regulations (ESR), Ultimate Beneficial Ownership (UBO) and Anti-money Laundering & Combatting Financing of Terrorism (AML-CFT).