Hamriyah Free Zone Authority (HFZA) 

Economical company formation and renewal in HFZA.

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Thinking about launching a business and wanting to dodge those pesky taxes? The Hamriyah Free Zone Authority (HFZA has got your back. In this article, we’re diving deep into the Cost to Form & Renew a Tax-Free Company in HFZA,. We’ll cover all the bases, from the upfront costs of getting your business off the ground to the nitty-gritty of keeping it running year after year.

And if you’re feeling a bit overwhelmed, don’t sweat it! FZBuddy is here to be your ultimate guide and friend through the whole HFZA journey. So, let’s get this show on the road and make your business dreams come true!

What Is HFZA?

The Hamriyah Free Zone Authority (HFZA) isn’t just another business park; it’s a hotbed for global commerce in the heart of the United Arab Emirates. Thanks to its prime location near Sharjah International Airport and other international airports, HFZA is a time zone-friendly hub for businesses that operate around the clock.

Read Also: How Much it Cost to Form & Renew Dubai Gold and Diamond Park Company in 2023

Benefits of Setting Up a Company in HFZA

  • Foreign Ownership: If you’re an international or parent company looking to expand, the Hamriyah Free Zone is your playground. Here, you can own 100% of your business with no strings attached. This is in line with the UAE’s welcoming approach to international business.
  • Repatriation Of Capital: Worried about moving your profits back home? Don’t be. HFZA lets you repatriate all your capital and profits, and the cherry on top is that there’s no income tax on the money you take back.
  • Commercial Land: Whether you’re in manufacturing, storage, or any other business activity, HFZA has got you covered. They offer a diverse range of commercial land and ready-to-use warehouses, all measured in square meters, to suit your specific needs.
  • License Fees: When it comes to license fees, HFZA is a game-changer. Whether you’re in the market for a trade license, a trading license, or any other type of license, you’ll find options that won’t break the bank. Plus, their online services make the company registration process a breeze.

Additional Benefits

  • Connectivity: HFZA offers direct land routes and a deep water port for easy access to neighboring countries.
  • Internet Facilities: Expect top-notch internet and telecommunications infrastructure.
  • Strategic Location: You’re not just close to Sharjah International Airport; you’re also a stone’s throw away from Dubai Airport.
  • Business Environment: From cozy office units to expansive factory spaces, HFZA has various options to meet your business requirements.
  • Government Requirements: HFZA plays nice with various government authorities, ensuring a smooth business setup process for you.

Don’t Miss This: HFZA Visa Types with Cost for Freelancers, Investors & Family

Cost of Setting Up a Company in HFZA

  • Initial Registration Fees: Starting a business in the Hamriyah Free Zone doesn’t break the bank. You’ll need to cover a refundable deposit and some fees for application forms. It’s all part of the UAE’s welcoming approach to new businesses.
  • Shares and Capital Requirements: The type of company you plan to set up will determine the minimum share capital you need. You’ll also need to provide board resolutions and a bank letter that confirms your share capital. This is especially crucial if you’re a parent company or an international business aiming for a solid financial footing.
  • Type of License Required: The kind of business you’re running will decide the license you need. Whether you’re looking for commercial, industrial, or service licenses, HFZA has got you covered. The license fees are reasonable, and renewing them is a breeze.
  • Office Space Requirement: The Hamriyah Free Zone offers a variety of office spaces, measured in square meters, to suit different business needs. Whether you need an expensive executive suite or a warehouse to store your finished products, they’ve got it. Plus, you can renew your lease when it expires.
  • Residence Visa Costs for Employees & Directors: The price tag for residence visas can fluctuate. If you’re in the business of trading medical goods or need employment visas, expect some extra charges. This is particularly relevant if you’re near international hubs like Sharjah International Airport.

Additional Considerations:

  • Strategic Location: HFZA is conveniently located near Sharjah International and Dubai Airport, giving you a time-zone edge and easy land access to neighboring countries.
  • Online Services: Setting up your company online is a snap, thanks to HFZA’s robust digital services.
  • Telecommunications: With cutting-edge internet and telecom services, HFZA adds another feather to its cap.
  • Government Requirements: HFZA plays nice with various government bodies, making it easier for you to meet all the regulatory hoops.

Here’s a Related Article: How to Start a Company in HFZA from Home (2023 Guide)

Renewal Process & Costs for Tax-Free Companies in HFZA

Fees Payable to the Authority: Keeping your business running in the Hamriyah Free Zone (HFZA) involves yearly financial commitments. Among these are renewable leases and license renewal fees. These costs are vital for keeping your business in good standing and in line with government requirements.

Submission Dates and Renewal Deadlines: It’s crucial to submit your financial statements and other company documents on time. Make sure you stick to the deadlines set by the Hamriyah Free Zone Authority to steer clear of extra charges or even the risk of company liquidation.

License Renewal Requirements for Foreign Companies: If you’re running a foreign business, like a trading or construction company, there are specific protocols you need to follow for license renewal. This includes submitting financial statements and other key documents, such as a bank letter, to meet regulatory requirements.

Additional Considerations:

  • Business Environment: HFZA provides a business-friendly environment with a wide range of flexible space options, including factory spaces and executive offices.
  • Online Services: The robust online services offered by HFZA streamline the renewal process, making it both cost-effective and efficient.
  • Telecommunications Links: Cutting-edge telecommunications links are available, adding to the zone’s attractiveness for foreign companies.
  • Access to Neighboring Regions: HFZA’s strategic location near Sharjah International and Dubai Airport provides direct access to neighboring countries, boosting its appeal for business owners.
  • Legal Entity: Your type of legal entity can affect your renewal process, including varying visa costs for employment visas.
  • Activity Approvals: Make sure your business activities are in line with HFZA’s guidelines to ensure a smooth renewal process.

Here’s Another Good Read: How to Start a Company in HFZA from Home (2023 Guide)

Company Formation Services Available at HFZA

So, you’re thinking about starting a business? Look no further than Hamriyah Free Zone Authority (HFZA). It’s like a one-stop-shop for all your company formation needs. Whether you’re a small startup or a big public shareholding company, HFZA has got something for everyone.

  • Land Lease & Industrial Land: Need space? HFZA offers a variety of land leasing options, including specialized industrial plots. Whatever your business is into, they’ve got the land for it.
  • Business Plan & License Type: Starting a business is no small feat, and HFZA gets that. They’ll help you put together a killer business plan and pick the license that’s just right for you.
  • Company Amendments & Offshore Companies: Already have a company but need to make some tweaks. No worries. HFZA can help with that, too. And if you’re an offshore company, they’ll make sure you’re all set and compliant with the local laws.
  • Accommodation for Investors & Labour Accommodation: Whether you’re an investor looking for a place to stay or need to house your team, HFZA has got you covered with budget-friendly options.
  • Commercial Levies & Corporate Taxes: Money matters can be confusing, but HFZA makes it easier. They offer competitive rates and will guide you through the maze of corporate taxes.
  • Transportation Via Road & Access to Ports: Location, location, location! HFZA is strategically placed near major transport routes, making it super easy to get your goods in and out.
  • Compliance Requirements: Paperwork can be a drag, but it’s necessary. HFZA will help you get all your documents in order and make sure you’re meeting all the legal requirements.

Choosing HFZA for your company formation is like choosing the VIP lane. You get affordable rates, quick approvals, and a business-friendly environment. What more could you ask for?

Check Out: How to Start a Company in HFZA from Home (2023 Guide)

Types of Services Offered by Companies at HFZA

Curious about who sets up shop in the Hamriyah Free Zone Authority (HFZA)? Let’s break it down. Think of HFZA as a bustling business hub, a place where various companies from different sectors come to thrive. Here’s the lowdown:

  • Trading Companies: Interested in import and export? HFZA is your go-to. These companies score some great deals on export taxes. And guess what? They can be set up with either 2-5 shareholders or 2-3 shareholders, depending on their structure.
  • Construction Companies: Meet the architects of the future. Specializing in infrastructure and development, these companies often opt for the deluxe office packages. They’re also experts at dodging the hurdles of double taxation agreements.
  • Gas Companies: These powerhouses usually belong to the Gulf Cooperation Council. They’re in the utilities sector and have a state-of-the-art electronic network to keep things humming along.

And here’s the cherry on top: HFZA offers perks like low deposit fees, making it a magnet for all sorts of businesses, from startups to big corporations. There’s something here for everyone.

Further Reading: Starting a Company in DIFC From Home (2023 Guide)

Conclusion

Setting up a company in HFZA is not just cost-effective but also offers a plethora of advantages, like foreign ownership, repatriation of capital, and strategic location. With this guide, you’re well-equipped to make an informed decision. For more details, visit Hamriyah Free Zone Authority (HFZA).

Sources


FZBuddy aims to provide accurate and reliable information as you navigate the UAE Freezone space. As such, our writers refer to primary information sources in supporting each article appearing on this website. These include, but are not limited to, published news articles, government portals, research papers, and more.

  1. Admin. (2023, June 6). HOME | Hamriyah Free Zone Authority. Hamriyah Free Zone Authority. https://hfza.ae/
  2. Home | The Official Portal of the UAE Government. (n.d.). https://u.ae/en

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