Sharjah is the third largest emirate of the country, contributes to 17% of nation’s GDP and hosts over a third of UAE’s factories across 33 industrial zones. It hosts several free zones one of which is Sharjah Media City (Shams). Established in 2017, Shams is a media-free zone established by an Emiri Decree by the Sharjah government. Shams was formed with the objectives of nurturing talents and providing education in creative fields, supporting high-quality media and creative content, and providing an appropriate business environment for media and creative businesses.
Regulations
The free zone has formulated its own licensing regulations, Shams Companies and Licensing Regulations 2024, which is a detailed law for the functioning of the companies established in the free zone. Further regulations include laws relating to employment, company liquidation, and real estate in the city.
Shams provides several benefits to businesses which among other things include the following:
– Company setup options at low cost,
– No compulsion to be physically present in the UAE to register a new company,
– 100% foreign ownership,
– Wide range of business activities under one license,
– 100% repatriation of capital and profits, and
– 0% rate on taxable income not exceeding AED 375,000.
Business Licenses and Services
The free zone hosts media and creative entrepreneurs and other businesses relating to general trading, wholesale and retail trading, professional services and consultancy.
Shams allows for three kinds of licenses which include Service License which allows the production, reproduction, transformation and distribution of services, Trade License allows the buying, selling and distribution of goods both within Shams, and for import and export and Light Industrial License permits the production, reproduction, transformation, and manufacturing of goods, granting you the freedom to operate across the entire production cycle.
Shams provides several services to businesses licensed under it which include hosting gaming communities, film-related production services, podcast rooms, and influencer rooms. The free zone offers concierge services to help a business get dependent visas, medical tests, Emirates ID, corporate banking, document translation and attestation, etc.
For filming activities, Shams provides services like script writing, filming and shooting services, talent and location sourcing, and several post-production services.
Conclusion
Sharjah Media City (Shams) is empowering creative entrepreneurs with cost-effective business setups. It helps media and creative businesses with their daily activities by actively providing them with services which can be useful in reducing costs.
Paoletti Law Group is partnered with the Sharjah Media City (Shams) Free Zone Authority and assists businesses in seamlessly establishing their presence within the free zone.
For more information, you may contact:
Thomas Paoletti
Armando Coviello
