How to Get a Trade License in Sharjah?
Given the emirate's prominence as a regional industrial hub, the Sharjah government has taken several initiatives to stimulate investment and promote economic diversification. In this way, both domestic and international firms are aided. To ensure high performance standards across the industry, all businesses must get Sharjah trade licenses.
About Sharjah Trade License
Sharjah Trade Licenses assist the government in keeping track of enterprises in the city and protecting the rights of customers. The Sharjah Economic Development Department (SEDD) oversees topics such as license issuance and renewal.
A trade license is the first formal step in beginning a business in Sharjah as a business owner. It is illegal to operate a business without a license. Similarly, the license must be renewed as needed to maintain commercial activities.
Here's everything you need to know about the Sharjah trade license if you want to start a business in the emirate
What are the Different Types of Trade License in Sharjah?
Sharjah trade licenses are divided into three categories:
- All trading activities require commercial licenses.
- Artisans, services, and craftsmen are required to have professional licenses.
- Industrial licenses are required for every type of manufacturing or industrial operation.
Special licenses, such as the Entrepreneurial Business License and the Business Operation Permit, are sometimes issued by the authorities to specific firms.
What are the Requirements for Businesses to Obtain a Sharjah Trade License?
Before a company may begin operations, it must first meet the following Sharjah trade license requirements:
- Identify and assign a business category, i.e., industrial, commercial, or professional.
- Identify and assign a maximum of ’10 per licence’ business activities.
- Decide on a trading name for the business.
- Submit the application to SEDD for initial approval.
- After approval is granted, register a trade name (if it hasn’t been registered earlier).
- Lease a place to run your business and seek approval from the Sharjah Municipality.
- Prepare the required documents, including a memorandum of association and approval from all relevant governmental authorities.
- Make a final submission to the Department to obtain a licence to start the business.
- Pay the fee.
You can also try to register your company's Trademark in the UAE while you're waiting for your license. Many successful Sharjah-based businesses try to expand to Dubai and other emirates. In such instances, you may want to examine the various business licenses available in Dubai, including the E-trader license. Looking to go out on your own in the capital? Here's our guide to the Abu Dhabi freelance license.
Obtaining a Sharjah Trade License for Your Company
The following are the processes to obtaining a Sharjah trade license for your company:
- You must go to DED's licensing area after completing the trade name registration and first approval procedures.
- The licensing authority reviews the license information and, if necessary, edits or adds to them
- Payment vouchers will be printed and audited.
- The applicant will receive a business license and a trade registration certificate after paying the fees.
Documents Required
- Licenses Form
- Trade Name Certificate
- Photocopies of the passport, Family Book and National ID for UAE Nationals
- Certified No Objection letter, photocopies of passport, visa or residency for foreigners
- Technical Evaluation Report
- Government Entities Approvals, if required
- Service Agent Contract approved by the Legal Affairs Section
- Certified Tenancy Contract photocopy
- Land Map or Ownership Certificate
Read More:Difference Between Trade License and Freelance License
What are the Requirements for Renewal Of a Trade Licence in Sharjah?
In Sharjah, trade licenses are issued for a specific length of time, and enterprises must apply for renewal when their validity is about to expire. The following documents are necessary for the renewal of a Sharjah trade license:
- Licence renewal form.
- Passport photocopies or UAE National ID of the ownership.
- Family book photocopies of UAE citizens.
- Attested lease agreement.
- NOC letter from the competent authority.
- A Notary Public authenticated photocopy of signature verification.
If your license has been expired for more than three months, you must contact the Inspection Division of the Department of Economic Development. Furthermore, if you need a license for a foreign company branch, you must apply to the Ministry of Economy rather than the Sharjah Economic Development Department.
Failure to renew a Sharjah trade license can result in financial penalties and, in the worst-case scenario, a company's blacklisting. This would mean that all corporate operations would cease, the company's visas would be revoked, and the owner might be forced to leave the UAE.
That concludes our guide on obtaining a Sharjah trade license. Visit the Sharjah Economic Development Department's website for further information. Most of their licensing services are listed on their website. The Sharjah government has upgraded its e-services so that business owners do not have to worry about the process. Things usually move easily if all of the prerequisites and documentation are in place.
Sharjah's businesses may not yet operate on the same size as those in the other emirates, but significant progress is being made. The influx of new businesses into the emirate, as well as the events held in the Sharjah Expo Centre, are evidence of the emirate's progress. As a result, it presents a fantastic opportunity for regional businesspeople. If you're an expat planning a long-term business stay in the UAE, you should become familiar with the UAE's Business Golden Visa.
Advantages of having a Trade license in Sharjah
- Cost-Effective: A very reasonable and inexpensive choice for establishing a business in the UAE.
- Begin anywhere: The company setup application process can be started from any location on the planet.
- Complete ownership: 100 percent capital and profit repatriation
- Multiple Businesses with a Single License: Under a single license, you can combine up to five separate business operations.
- Scalable: Add up to 20 more Visas to your firm with only one trade license.
- Quick: Within 4 hours, your firm will be formally incorporated.
- Flexible: It is not necessary to obtain a No Objection Certificate (NOC) from your current sponsor to become a shareholder in your new company.
- Reporting Options: There are no requirements for paid-up share capital or yearly Auditing.
- Visa options: You will be given the option of applying for a partner or investor visa.
- A Talent Pool for the Media: Even though Sharjah is not limited to media activities, they are dedicated to expose local media talent to fresh and innovative concepts.
Conclusion
Sharjah serves as a location for firms to form professional ties and assist one another in growing. Dhanguard are well aware of the emirate's incomparability and significance. Aside from the Sharjah trade license, we will also walk you through the entire process of starting a business in Sharjah.
Experts on the team have completed a large number of projects in Sharjah and other regions of the UAE relating to mainland business creation, offshore company formation, and Freezone company formation.
