Monday, September 24, 2012

Types of Licenses offered by Sharjah International Airport Free Zone

Investors can choose the type of licenses as per the business activities they do. Sharjah International Airport Free Zone provides the following types of licenses.

•Industrial License

Industrial license allows the investor to import raw material, manufacture, and process, assemble, package and export the finished product. (Subject to clearance from SAIF-Zone Health & Environment Dept.)
•Commercial License

Commercial license allows the investor to import, export, distribute, consolidate and store items specified in the license. There is a maximum limit of three similar product lines.
•General Trading License

As the name suggests, a large number of products fall within its ambit. This type of license can be obtained under the commercial license

•Service License
Services license allows the investor to carry out only specified services. (Unless restricted by the federal or local authorities, all types of services are allowed within the SAIF-Zone).

Company Registration in Sharjah Airport International Free Zone

The legal status of the licenses which can be operated within Sharjah Airport International Free Zone can be classified as here under.
1.Branch of a Company:

Companies established in U.A.E or a foreign country may establish a branch in SAIF-Zone. Branches are of two types classified as hereunder

1.1 Branch of a Foreign Company
A company situated in a foreign country, if so authorised by it's documents, can establish a branch of their company in SAIF-Zone. The SAIF-Zone branch of such company shall have the same name as that of the parent company.

1.2. Branch of a U.A.E (Local) Company
A company established in U.A.E, if so authorised by it's documents, can establish a branch of their company in SAIF-Zone. The SAIF-Zone branch of such company shall have the same name as that of the parent company.

2.Free Zone Company (F.Z.C)

Two or more legally capable persons natural or juridical can establish a Free Zone Company in SAIF-Zone with a minimum capital of AED.150,000/- or it's equivalent in US Dollars. In normal cases the maximum number of shareholders is up to 5 and if approved by the SAIF-Zone management the maximum number of shareholders can go up to 7 shareholders. Liability shall be limited to the FZC's share capital.

3.Free Zone Establishment (F.Z.E)

A legally capable person natural or juridical can establish a Free Zone Establishment in SAIF-Zone. In other words there shall be only one owner (shareholder) in a Free Zone Establishment. The minimum amount of capital required is AED.150,000/- or it's equivalent in US Dollars. Liability shall be limited to the FZE's share capital