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Known as a budget-friendly and investor-adapted free zone, the Hamriyah Free Zone in Sharjah is one of the best and cheapest options of doing business in the UAE.
With its strategic location nestled between three continents, the free zone actually serves a key role in the country’s industrial sector and is in the hub of activity.
Of the seven emirates, Sharjah is the only one that has ports on the east and west coasts of the Arabian Gulf, and proximal access to the Indian Ocean.
Set across approximately 20 million square meters of industrial and commercial land and encompassing a 14-meter deep water port, Hamrιyah Free Zone provides potential investors with the opportunity to establish business in a sector that is not only tax-free and includes complete 100% company ownership, but also in a zone that includes profits and capital repatriation.
It also has a well-developed infrastructure geared for industries at all levels to serve the Gulf, regional and international markets. The free zone is set up according to specific industries it caters to which include perfumes, steel, maritime, oil and gas, and petrochemicals.
The free zone urges companies to ensure any activity is environment-friendly and in accordance with local rules. While in most free zones the timeframe to obtain a license can be up to two months, in Hamrιyah Free Zone, setting up a business can be done quickly, and obtaining a license can take as little as just two working days.
There are multiple factories, warehouses, and pre-built office units available for lease at the free zone. The minimum lease term is five years; however, investors can choose to lease their plot for a maximum of 25 years and later renew it for another 25 years.
• The Hamriyah Free Zone offers low labour and energy costs
• It has a business center with modern equipment and facilities
• Sharjah offers extensive transportation links to the Gulf states
Source: Saadiya Ahmad, Special to Properties
The writer is a freelancer