SRTIP’s Packages for Women: Empowerment through Entrepreneurship

SRTIP’s Packages for Women Empowerment through Entrepreneurship

The environment of business setup in the UAE is highly ideal for women wishing to run their own companies. LinkedIn data, published in the World Economic Forum’s 2022 Global Gender Gap Report, states that women entrepreneurship in the UAE grew 68 percent. The reason for these uplifting statistics can be attributed to many factors such as the government’s business-friendly policies, the initiative to support women’s empowerment and special business setup packages for women entrepreneurs in the UAE.

When it comes to supporting women entrepreneurs, we cannot downplay the role of free zones in the UAE. Sharjah Research Technology and Innovation Park (SRTIP) is one of the free zones that contribute to female empowerment by providing two packages for women entrepreneurs to set up their companies in the UAE. Business setup consultants in UAE can help you assess the packages and choose the right one. Let’s learn more about the license packages in SRTIP exclusively for women entrepreneurs:

Female Innovators Package

Women entrepreneurs wishing to set up a business in SRTIP free zone can consider the Female Innovators Package. This package for company formation in SRTIP offers a mix of commercial & services (Standard) segments under one trade license along with General Trading. Only women entrepreneurs can avail of this package, but they can appoint a manager of any gender.

The Female Innovators Package is available only for new customers and owners of companies that are already registered with SRTIP cannot apply for it. Holders of a trade license under this package can choose a maximum of five business activities. However, they are not allowed to add a new activity to the trade license. The following table will illustrate the cost of company registration in SRTIP free zone under this package:

 

Package PriceVisa Quota
5,5000
7,0001
8,0002
9,0003
12,5004
13,5005
14,5006

 

Women in Technology Package

Only women entrepreneurs are allowed to apply for the Women in Technology Package in SRTIP free zone. However, you can appoint a manager for the company regardless of gender. The applicants can apply for up to four visas under this package. However, existing SRTIP-free zone members are not allowed to migrate to this package. The package price is fixed for the first three years and standard rates will apply after that. There will be a 40% discount in the case of special commercial and service segments. Setting up a company in SRTIP through the Women in Technology Package will give you access to co-working space, Meeting rooms, Innovation Lounge, Collaboration Room, and Dining & Gaming Area. The facility comes with all utilities (Wi-fi, SEWA) included. The following table illustrates the cost of company registration in the SRTIP free zone under the Women in Technology Package:

 

DescriptionQuantityRateAmount (AED)Discounted Package
  
Registration Fees1Nil        NilNil
Lease Charge For Co-working space16,5006,5002,500
General Service Fee12,5002,500500
Services Total9,0003,000
  
Value Added Tax5 %450150
License Fees16,0006,0006,000
Support Scientific Research Sharjah Government Fee1010
License & Fees  6,4606,160
   
Total Amount:15,4609,160
   

 

Choose a Package through Business Setup Consultants in Sharjah

The landscape of business setup in the SRTIP free zone has been made attractive with the announcement of two new license packages for women entrepreneurs. However, investors need to weigh in on a wide range of factors to set up a company in the SRTIP free zone without any hassle. Investors who are new to the region might struggle with these factors but hiring business setup consultants in Sharjah is the best way to mitigate this issue. Jitendra Business Consultants (JBC) is one of the top providers of business setup services in Sharjah with years of experience. We can help you meet key requirements such as bank account opening, visa processing, and regulatory requirements related to UAE Corporate Tax, Economic Substance Regulations (ESR), Anti-Money Laundering (AML) and Ultimate Beneficial Ownership (UBO) etc.

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