If you want to start a business in the UAE, the SPC free zone license is an excellent choice. The SPC provides businesses many benefits, such as 100% foreign ownership, 100% repatriation of capital and profits, and tax exemptions. In this article, we will discuss obtaining an SPC free zone license in Sharjah.
Choose your business activity:
The first step in obtaining an SPC license is choosing the activity you want to engage in. The SPC allows businesses to engage in various activities, including trading, manufacturing, services, and consultancy. Once you have identified your business activity, you must ensure it is permitted in the SPC.
Determine your company structure:
The next step is to determine your company structure. The SPC allows businesses to operate as a Free Zone Establishment (FZE), Free Zone Company (FZC), or Branch of a Foreign Company. Each company structure has its requirements, so choosing the one best for your business is essential.
Apply for a trade name and initial approval:
Before you can apply for an SPC license, you need to apply for a trading name and initial approval. You can do this online or by visiting the SPC’s customer service center. Once your trade name is approved, you will receive an initial approval certificate valid for three months.
Submit required documents:
After receiving initial approval, the next step is to submit the required documents. These include your passport copy, visa copy, and proof of address. If registering a company, you must also provide a Memorandum of Association (MOA) and Articles of Association (AOA).
Obtain a business license:
Once you have submitted the required documents, the SPC will review your application. If everything is in order, you will receive a business license. The SPC offers several licenses, including trading, industrial, and service.
Open a bank account:
You need to open a bank account to operate your business in the SPC. You can choose any bank that has a presence in the UAE. It is important to note that some banks may require a minimum deposit to open an account.
Obtaining an SPC license in Sharjah is straightforward, but ensuring you follow all the steps correctly is important. By choosing the right business activity and company structure and submitting the required documents, you can start your business in the SPC and enjoy its many benefits.