Sharjah LLC formation
Located in Sharjah, and it’s unique advantage as the only hub with ports on the Arabian Gulf’s west and east coasts with direct access to the Indian Ocean and North Africa and an International Airport,Sharjah offers unmatched possibilities for investors. It’s trading accounts for more than 45% of the GDP of the Emirates.
A limited company may be formed by a minimum of two and a maximum of fifty persons whose liability is limited to their shares in the businesses capital. Most companies with foreign partners have opted for the Limited Liability Company, due to the fact that this is the only option that’ll give maximum legal ownership i.e. 49% to the expatriates for a trading license. As it is compulsory to keep one UAE national as a partner in the LLC company, prospective investor has to choose one UAE national (sponsor) as a partner in the company.
Entrepreneurs set up a Sharjah LLC because operating costs are lower than in neighbouring regions.
Advantages of a Sharjah LLC
- LLC is the most common company formation in Sharjah.
- No deposit customs policy for cargo in transit between Sharjah seaports and the SAIF zone, being an advantage for trading LLCs, unlike other emirates.
- Unique location advantage with 3 sea ports and an airport
- Lower operating costs
- While foreign equity in the company may not exceed 49%, profit and losses will be shared in a ratio different to that of the share capital ratios
- No specific minimum capital requirements
- The investor becomes the partner in the company.
- The investor gets the investor visa under which he/her enjoys an investors status in Sharjah along with his/her family.
- The investor can create more branches at different places for his activities.
- LLC managers can be national, foreign or third party members.
- The investor can run the business without the day-to-day interference of the local national partner.
- The assets and capital created will be in the name of the company and not in the name of the local national partner.
- Easy to open global corporate bank accounts following Sharjah LLC set up