Hamriyah Airport Freezone
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Introduction
Hamriyah Free Zone Authority (HFZA) is a free trade zone located in the emirate of Sharjah, United Arab Emirates. The zone offers a range of benefits to companies looking to establish a presence in the region, including 100% foreign ownership, 100% repatriation of profits and capital, exemption from taxes, and no currency restrictions.
To form a company in Hamriyah Free Zone Authority, you can follow these steps:
Choose the type of company you want to establish: HFZA offers several types of entities, including Free Zone Establishment (FZE), Free Zone Company (FZC), Branch of Foreign Company, and Branch of UAE Company.
Choose a company name: Your company name must be unique and not already registered with HFZA.
Submit the application: Submit the required documents to HFZA, including the application form, passport copies of shareholders and managers, and a business plan.
Obtain initial approval: HFZA will review your application and provide initial approval if all requirements are met.
Lease a facility: You will need to lease a facility within HFZA to operate your business.
Obtain final approval: HFZA will conduct a site inspection and issue a final approval if everything is in compliance with their regulations.
Obtain necessary licenses: Once you have obtained final approval, you will need to obtain the necessary licenses and permits to operate your business.
Some additional steps may be required depending on the type of company you are establishing and the specific requirements of HFZA. It is recommended that you consult with a local business consultant or legal expert to ensure that you follow all necessary procedures and comply with all regulations.
Benefits of Hamriyah Freezone Authority
Hamriyah Free Zone Authority (HFZA) offers a range of benefits to companies looking to establish a presence in the region, including:
100% foreign ownership: HFZA allows 100% foreign ownership, which means that foreign investors can establish and own their businesses without requiring a local partner.
Tax exemption: HFZA provides complete tax exemption to businesses, including corporate tax, personal income tax, and customs duty. This provides a significant cost advantage to companies and allows them to reinvest their profits into their business.
Easy company formation: HFZA provides a simple and streamlined process for company formation, which makes it easy for businesses to establish their operations quickly and efficiently.
Repatriation of profits and capital: HFZA allows 100% repatriation of profits and capital, which means that businesses can transfer their profits and capital out of the country without any restrictions.
Strategic location: Sharjah is strategically located between Asia, Europe, and Africa, providing easy access to major markets. Additionally, HFZA is situated near the Hamriyah port and Sharjah International Airport, making it an ideal location for businesses looking to import and export goods.
Modern infrastructure: HFZA provides world-class infrastructure, including state-of-the-art facilities, advanced communication networks, and access to a skilled workforce. This allows businesses to operate efficiently and effectively.
Flexibility: HFZA provides flexible lease terms, allowing businesses to choose the size and type of facility that best suits their needs. Additionally, businesses can also choose to expand or downsize their operations based on changing market conditions.
These benefits make HFZA an attractive destination for businesses looking to establish a presence in the Middle East.
Frequently Asked Questions
Q: What is Hamriyah Free Zone Authority? A: Hamriyah Free Zone Authority is a free trade zone located in the emirate of Sharjah, United Arab Emirates. It offers a range of benefits to companies looking to establish a presence in the region, including 100% foreign ownership, tax exemption, and access to modern infrastructure.
Q: What types of companies can be established in HFZA? A: HFZA offers several types of entities, including Free Zone Establishment (FZE), Free Zone Company (FZC), Branch of Foreign Company, and Branch of UAE Company.
Q: What are the benefits of setting up a business in HFZA? A: The benefits of setting up a business in HFZA include 100% foreign ownership, tax exemption, easy company formation, repatriation of profits and capital, strategic location, modern infrastructure, and flexibility.
Q: What is the process for company formation in HFZA? A: The process for company formation in HFZA involves choosing the type of company, choosing a company name, submitting the application, obtaining initial approval, leasing a facility, obtaining final approval, and obtaining necessary licenses.
Q: What are the requirements for company formation in HFZA? A: The requirements for company formation in HFZA include submitting the application form, passport copies of shareholders and managers, and a business plan. Additional requirements may be necessary depending on the type of company being established.
Q: What are the costs associated with setting up a business in HFZA? A: The costs associated with setting up a business in HFZA depend on the type of company being established and the specific requirements. A local business consultant or legal expert can provide more information on the costs involved.
Q: How long does it take to set up a business in HFZA? A: The time required to set up a business in HFZA depends on the type of company being established and the specific requirements. Generally, it takes around two to four weeks to obtain initial approval and up to six weeks to obtain final approval and necessary licenses.
Q: Can businesses operate outside of HFZA? A: Yes, businesses established in HFZA can operate outside of the free zone as well. However, they may be subject to additional regulations and requirements in the broader UAE market.
