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The creation of the free zones is driving the corporate community and business opportunities in the UAE. Sharjah is one of the favourite places for entrepreneurs to invest their valuable money. Hamriyah free zone (HFZ) in Sharjah is playing an important part in economic growth of the UAE.
Every business setup in the UAE does not only covers the Gulf region. But it also reaches the other areas of the Middle East and North Africa (MENA). In other words, UAE provides a route for companies to serve the markets in the Asia, Africa, and nearby Europe.
Hamriyah Free zone is located in Sharjah, a city in the UAE. People and the businesses have access to an international airport and a seaport that allows goods to come in and go out to the rest of the world. The Hamriyah free zone allows the Dubai free zone companies operating within its boundaries to connect with the market easily.
It is not only the location of the free zone but also the infrastructure developed around it. Both have made it possible for the companies to access markets and people. Hamriyah, being the second largest free zone holds its significance among the economic zones of the UAE.
These are the advantages of the Hamriyah Free Zone.
The HFZ Authority allows Dubai free zone companies to register businesses and obtain licenses. Once this is done by the companies, they are able to enjoy the world class business facilities being provided by the free zone. Some of these are business friendly infrastructure, complete repatriation of the profits earned and complete ownership without the need of a local sponsor to own 51% of company shares.
Business setup in Dubai has been made easier thanks to the policies being followed by the free zone authorities. The registration process for companies is easy and quick which reduces the frictions caused by time and load of documentation as well.
The two types of companies that the authorities allow to be formed in the HFZ are free zone companies and Branch Office businesses. For the former, requirements such as the minimum land requisition and warehousing facilities are to be fulfilled if free zone companies are to be incorporated. For the branch office, there is no minimum capital requirement.
The requirements for opening the branch office in Hamriyah for local Emirati company are the following.
The requirements for starting the representative office in Hamriyah for an international company are as follows.
The regulatory Hamriyah Free Zone Authority (HFZA) issues three main types of licenses.
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