Launched in January 2017, Shams is one of the leading media-free zones in the region. Its mission is to create a world-class media hub, fostering a dynamic ecosystem for co-creation and innovation. The freezone sets a new benchmark in service, offering world-class facilities and support to creative businesses. If you are looking for Shams business setup, this information will be useful for you.
Liquidation of a company in the zone:
If you own a company, and it’s unable to repay its debts in full, the option of liquidation may be right for you. A liquidator and directors must determine which liabilities remain unpaid and which cannot be settled within six months. This process can take up to 3 weeks. The process costs around AED 2000.
Facilities offered by the zone:
SHAMS Sharjah Media City Free zone offers several office types and services to meet the needs of businesses. These include core office, shared office, and fully customized office space. Each type of office offers a unique work environment for its tenants and allows business leaders to focus on strategic areas. In addition to offering a cost-effective and flexible workspace, Sharjah Media City provides many other benefits, including networking opportunities.
Located in the cultural capital of the UAE, Sharjah Media City Free zone is a hub for media and creative industries. It is an excellent location for startups and existing companies alike and offers competitive business license prices. The fee for a Shams license is as low as AED 5,750 and varies depending on the type of business.
Cost of setting up a company in the zone:
The cost of setting up a company in SHAMS is low and flexible. There are no annual audit reports, and the renewal process is easy and affordable. All a company needs to do is pay the renewal fee and submit a signed lease agreement. The renewal process is not complicated and requires no physical presence in the UAE. Instead, the process can be carried out by a third party, which makes the process more convenient.
The Sharjah Media City Free zone is a newly developed business destination in the UAE. It was opened in January 2017 with a vision of becoming a world-class media hub. The business environment in the city is ideal for companies involved in a variety of business activities. In addition to media-related activities, the city is also home to many other types of businesses.