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Hamriyah Free Zone Authority set to Boost Company Setups

Launch of Sharjah Food Park at Hamriyah Free Zone Authority set to Boost Company Setups

March, 2017

The number of new Hamriyah Free Zone Authority (HFZA) company setups is predicted to increase following the launch of HFZA’s “Sharjah Food Park”.

HFZA’s new company setups will rise because it is strongly expected that the Food Park will boost the economic growth and trade of Sharjah. This will in turn lead to an increase of interest in Sharjah by foreign investors who will want to set up companies there.

The launch of the Food Park was announced at a press conference held at the Dubai World Trade Centre on 2nd March.

The Food Park is the biggest and most prestigious facility in the region focusing on food and food related industries.  It is a food industries hub dedicated to exports, imports, storage and packaging of foodstuff for the huge Middle East and North Africa food industry and the rest of the world.

Advantages of a Company Setup at Hamriyah Free Zone Authority

Enjoy the tax and investment benefits of setting up a company in HFZA, which are:

  • Zero corporate taxes
  • Zero personal taxes
  • Full foreign company ownership
  • Zero import and export taxes
  • Full exemption from all commercial levies
  • Full repatriation of capital and profits
  • Modern legal framework
  • High security of investments

There are superb trade competitive advantages when you set up a company in HFZA such as:

  • Strategic location with easy access to UAE, GCC and global markets
  • Highly developed infrastructure
  • Three seaports and an international airport
  • Low energy costs
  • State-of-the-art offices, warehouses and factory units for lease
  • Plots of land available for lease
  • Low cost of living
  • Low labour costs

Set Up your HFZA Company – Contact Us

Our goal at FBS Kotsomitis is to provide the best possible service to our clients to make setting up their companies in the UAE as simple and stress-free for them as possible.  We have first-hand experience of what works in the UAE to ensure success and prosperity.

We can Help you Set Up and Build Your Business to make your Vision a Reality – Click Here to Set Up Your Company

We will guide you through the five steps involved in setting up a company in the UAE – Click on the links below for the 5 simple steps to set up your Hamriyah Free Zone Authority or any other UAE Free Zone company:

Step One: Get in Touch with FBS Kotsomitis

Step Two: Select your most suitable company type

Step Three: Start the company setup process

Step Four: Opening of corporate and personal bank accounts

Step Five: Begin to operate your company with the support of FBS Kotsomitis

Essential FAQ’s and Answers on HFZA Company Setups
Question Answer
What facilities are available at HFZA? The following facilities at HFZA are available on a lease basis:

  • Land for clients’ own development
  • Office suites at HFZA’s International Business Center
  • Pre-built factories and warehouses
  • Access to water port and inner harbor
  • On-site accommodation for the companies’ staff
Can HFZA provide assistance in constructing my company’s facilities? Yes HFZA can provide investors with a list of registered contractors and contractors.
What types of companies can be set up in HFZA?
  • Free Zone Establishment (FZE)
  • Free Zone Company (FZC)
  • Branch of a local or international company

Set Up your HFZ Company – Contact Us

What types of licenses are provided by HFZA? HFZA’s clients can choose from three types of business licenses, according to their needs:

  • Industrial license
  • Commercial license
  • Service license
Can I do business from Sharjah or from another emirate with my HFZA license? The License issued from HFZA is only valid for operation within the free zone. An HFZA license cannot be used to set up a company in any other emirate.
Can I sell my company’s products in the UAE? Yes but you will need a local distributor and you will need to pay the relevant customs duties required.
Are there restrictions on the importing and exporting of products? There are no restrictions on importing and exporting goods that are included on the HFZA license. There are no duties on goods imported or exported from HFZA.
Can I be a partner in multiple companies? There are no restrictions on the number of companies you can be a partner in.
What is the minimum capital requirement to set up a company in HFZA? For a FZE or a FZC, the minimum capital requirement is AED 150,000 (for plots of land), but there is no minimum capital requirement for the setup of a branch of a foreign or a local company.
Does HFZA provide financial support to its clients? No. HFZA does not provide financial support for clients to set up their business.
Are there any restrictions on employing staff for my HFZA company? No, there are no restrictions, provided that the immigration procedures are followed.  The number of employees hired in a company depends on the nature and size of the business.
For how long are HFZA residence visas valid? HFZA visas are valid for 3 years from the date of issue.
Are there any restrictions on residence visas for family members? There are no restrictions provided that immigration procedures are followed.
Can I live in any UAE emirate if I own a HFZA company? Yes. An owner of a HFZA company can reside in any UAE emirate if he/she has a valid residence visa.
Are there restrictions on travel abroad? There are no restrictions on travel provided there is a valid visa.
Is my driving license valid in Sharjah? Yes, provided that a driving license is issued by one of the countries whose driving licenses are recognized by the UAE. Otherwise, a local UAE driving license can be issued.

Here’s how to Set Up your Company in Hamriyah Free Zone Authority – Contact Us

Click Here if you are Interested in  HFZA Company Setup Procedures and Fees

Nice to know facts about HFZA

HFZA was established in 1995 and is the largest free zone in Sharjah and the second largest industrial hub in the United Arab Emirates. Sharjah contributes to the UAE’s GDP with over 100 billion AED.

HFZA has set up over 6,500 free zone companies from 157 different countries. The Food Park houses offices, warehouses and worker accommodation and covers an area of 11 million sq ft. The new Food Park business centre will provide over 100 executive suites.

At the HFZA Foodpark, Commercial Licenses can be granted for general trading or for specific trading and for up to 5 business activities. The Industrial License covers activities such as manufacturing, assembly, processing, packaging. Service Licenses cover various services including consultancy services.

Start-Up Packages:Services for the First Year and Subsequent Years
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Dubai or RAK Free Zone Company FormationCompany Incorporation Services and Company Annual Running Services
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UAE New Economic Substance RulesUAE Economic Substance Services
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UAE Company Formation Packages
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By forming an offshore company in the UAE you can have a UAE address and run your business tax free internationally, open a bank account in the UAE or outside the UAE and own property in Dubai or RAK

Dubai  Offshore Company

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Free Zone Company Incorporation in the UAEStartup Package

By setting up a free zone company in the UAE you can enjoy the privileges of onshore presence and UAE and international trading  tax free, open a bank account in the UAE or outside the UAE and own property in Dubai or RAK. Residence Visa is given to investors and staff.

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On request - we price our services very competitively and are flexible to find fair agreements with clients

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