Monday, September 24, 2012

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

1 comment:

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