Sharjah: Growing Hub For International Investment
Sharjah is a state of UAE which lies among the most developed emirates. The economy generated by this city accounts for 45% of UAE’s Gross Domestic Product (GDP). The foreign investors have the opportunity of doing different types of businesses in Sharjah like LLC (Limited Liability Company), branch offices, sub-offices and joint stock companies. They can also set up whole ownership companies in the free zones. The flourishing economic growth of Sharjah is due to the attractive opportunities and the positive motivations that encourage foreign investors to invest in Sharjah.
Besides starting a business, there is an availability of several businesses for sale in Sharjah which is quite beneficial for the buyers as they a have a fully settled business in this growing region. They will be saved from the fatigue of opening up a business, getting it registered, acquiring a lot of licenses and much more.
It is very difficult to sell an established business in an area which is a hub for economy, but there may be many reasons to sell a business. It may be the business is going through a failure, or the owners have run out of funds and financials or they have got a better place and opportunity to start a business. For any reason which becomes the basis of leaving a business, different official procedures should be followed.
Buying a company in Sharjah would be very beneficial as it provides the unique advantage of being the only hub with ports on the Arabian Gulf’s west and east coast and has a direct access to the Indian Ocean and North Africa. Sharjah also has an international airport. That is why Sharjah poses unmatched opportunities for investors.
But there are some factors which you should not miss before buying a business set up in Sharjah or the UAE. First of all the contract that you will sign should be known to you, that whether it is a limited term contract or an unlimited term contract. A limited term contract has a start and an end date but an unlimited one has only the date of start but no termination date.
Before buying a business set up, take legal advice to decide the legal structure of the business. The business owners should consider the various business structures made available to them as they are the ones who are to decide which business structure they are going to take based on the residency status they own in the country and the tax implications.
Location for setting up a business is very important. Before starting the paperwork, the business owners-to-be should have a knowledge that where they are going to set up. They have to options: either to select a free zone among the 30 free zones in the country which are divided into technology and media sectors and the second option is to work outside the free zones as an offshore company but in that case you have to find a local sponsor who will finance your business and will be the owner of 51% of the company’s shares giving you only 49%.
AMADLAW, the consultants for worldwide company formations are the best among the companies to provide services regarding the setting up of a business, getting the licenses and registration for the company, legalization of documents etc. leaving you tension-free completely.