Business setup in HAMRIYA Free zone
The Hamriya Free Zone (HFZ) was established in 1995 and it has become one of the most important parts of the industrial development of the United Arab Emirates. HFZ is a logistics hub due to its strategic location that gives businesses an easy access to countries from three continents.
It has access to three seaports and an international airport, so companies established here can reach more than 30 countries and 230 cities. In addition, businesses have a privileged access to markets in the MENA region. Company Formation in Hamriya Free Zone (HFZ) can be a wise decision for investors that are trying to reach international markets and carry out business activities in a thriving market.
Forming a company in HAMRIYA
Incorporating a company in HFZ can be a pretty straightforward process. For this reason, many investors consider the Business Setup in Hamriya Free Zone (HFZ).
To set up your business you just have to follow a few simple steps. First, you must fill the application form and provide information regarding your business activity as well as the required documents. Once your documents have been reviewed you get the provisional approval. After that, you must sign the agreement and pay the required fees. Lastly, you can collect your business license and start your operations in HFZ.
Here’s the documents you’ll need to submit to incorporate a company in HFZ:
- Bank reference letter
- MOA and AOA (notarized)
- Copy of Board Resolution (for branch company)
- Copy of shareholder’s passport
HAMRIYA Business Activities
HFZ is a place that attracts businesses from across many industries. Since this place has seven sub zones, companies can engage in their business activities and obtain outstanding benefits.
Some of the most popular business activities are the following:
- Oil & gas activities
- Petrochemical production
- Supply of raw material
- Wood storage
- Perfume trading
Business Licenses for HAMRIYA
The Hamriya Free Zone (HFZ) Company Setup requires investors to choose one of the available business licenses. This will depend on the chosen business activity of the corporation, and it’s essential to choose the proper one so there are no issues with the Authority.
These are the types of business licenses available in HFZ:
- Commercial License: with the Commercial License, the company is allowed to engage in commercial activities such as import, distribution, export, sale and storage of goods and products according to the specifications of the license issued.
- Industrial License: the Industrial License allows the company to carry out activities like manufacturing, import of raw material for processing, assembly of products and any other industrial-related activity according to the regulations.
- Service License: the Service License is aimed for businesses that want to carry out professional activities in HFZ according to the specifications of the license issued.
It’s important to note that for the Commercial and Industrial License, businesses need to appoint a local distributor if they want to sell the products within the UAE market.
Benefits of doing business in HAMRIYA
- Foreign investors can have 100% ownership of their business
- Total repatriation of capital and profits
- There’s no import/export tax fee
- No personal income tax and no corporate tax
- Low-cost Free Zone in terms of living and labour
- Strategic location with access to more than 30 countries
- Proximity to seaports in the Arabian Gulf and Indian Ocean
- Access to the Sharjah International Airport
- Vast range of options of facilities such as offices, warehouses and more
- Businesses can engage in all levels of industrial activities
- HFZ provides outstanding business incentives
- World-class infrastructure and developed facilities
Business entities in HAMRIYA
To start your Business in Hamriya Free Zone (HFZ) you must select the type of legal structure for your company. In HFZ there are several options to choose from so you can select the best one that suits the nature of your business and your interests.
These are the types of companies in Hamriya Free Zone:
- Free Zone Establishment (FZE): an FZE should be incorporated with a single shareholder, which could either be an individual or a corporate entity. It’s a limited liability company and the minimum capital to establish it is of AED 150,000.
- Free Zone Company (FZC): an FZC can have 2 shareholders as minimum and 5 shareholders as maximum, which could be individuals or companies. It’s a limited liability company and the minimum capital requirements is of AED 150,000.
- Branch of a Company: a local or international company can set up a branch in HFZ and there’s not a minimum capital required. It’s important to submit the License (for local companies) or the Certificate of Incorporation (for international companies)
HAMRIYA License costs
Registering and licensing a company in HFZ means that you’ll have to incur in a few expenses:
- Registration fee: starts from AED 9,000. It’s a one-time payment.
- Minimum capital requirement (FZE/FZC): AED 150,000
- License packages: starts from AED 25,000 for a commercial or service license with the rent of a 10 sq. m. office space included. This is a yearly payment.
HAMRIYA Innovative Facilities
HFZ has state-of-the-art facilities with modern designs and outstanding benefits for investors. If you’re looking for a place to carry out your operations from HFZ, you have a wide range of options to choose from:
- Offices: in the HFZ Business Center you can rent an office from 15 sq. m. up to 42 sq. m. to conduct your business. These offices provide high-internet speed, meeting rooms, utilities, and many more amenities.
- Plots of land: in HFZ there are many plots of land that you can rent for industrial or commercial use. You can even choose among sea plots. The minimum lease is of 5 years and up to 25 years.
- Warehouses: select among the ready-to-use warehouse facilities in HFZ that can be used to build your office or conduct industrial operations.
- Harbor: for businesses that work with large vessels and LPG can have access to the Freight Bridge.
- Accommodation City: rent rooms or bedrooms for your workers in HFZ. These include many amenities and utilities.