Sharjah Airport International Free Zone (SAIF Zone)

Introduction

Close to both Sharjah ports, the free zone was established in 1995 and is home to over 5,000 businesses. Companies located here fall into the trade, services, industrial and aviation industry. Sharjah neighbours the emirate of Dubai. The consumption and transport of alcohol is forbidden and there are strict decency laws, for example, men and women should be dressed conservatively.



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Restrictions

[heading]Other licenses offered: [/heading] [list] [*] Aviation, AED15,000; Real Estate, AED15,000; Freight Forwarding, AED8,500 [*]Unless restricted by the federal or local authorities, all types of services, professions and trades are allowed within the SAIF-Zone [/list]

Pros and Cons

Pros Cons [list] [*]Access to over 2 billion consumers [*]Strategic location between east and west [*]Abundant and inexpensive energy [*]Competitive fee structure, property & management leases [*] 24-hour hotline for equipment and provision of labour; Unlimited work force with an economical wage structure [*]Sponsorship & visas for all staff [*] Highly qualified bilingual staff [*]Access to ports in the Arabian Gulf & Indian Ocean [*] International air links across the world via Sharjah International Airport [*]Back-up services include those provided by the Sharjah Chamber of Commerce and Industry, Sharjah Expo Center and over 40 international banks [*]100% foreign ownership [*]100% repatriation of capital and profits [*]100% free transfer of funds [*]25-year-lease extended to similar period [*] 100% exemption from corporate and personal income taxes, for the company, the Investor and their employees [/list]

Retail trading not permitted in RAK FTZ. Cannot carry out:

[list] [*]High registration & capital requirements [/list]

Freezone Requirements

[list] [*]Exempt from customs duties [/list]

Application Requirements

[list] [*]Application form [*]project summary [*]passport copies of owners/managers [*]certificate of incorporation/registration (branch only) [*]memorandum & articles of association (foreign company branch only) [*]board resolution to open a branch in SAIF Zone and Power of Attorney (branch only) [*] bank statements from past 3 years (branch only) [*] balance sheet (for last 2 years if applicable, branch only) [/list]
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