Saif zone(Sharjah Airport International Free Zone) was founded in 1996 which is situated next to Sharjah international airport. It takes twenty minutes from Dubai International airport. It is a well-acknowledged and well-established free zone in the United Arab Emirates. The business run in the SAIF zone implements modern ideas & methods and are fast, efficient and hassle-free.
Check: RAK Free Trade Zones
It’s a simple process to start a business in SAIF zone since it has attractive incentives and excellent service speed. Saif zone is flexible for all types of businesses irrespective of the industry. From a single company space to the entire manufacturing facilities and everything in between, the alternatives are planned in such a way so as to provide space for every company. It has the largest consumer base in the world with an entry to more than 2 billion people. SAIF zone offers limitless staff for multiple business granting sponsorship and visas. Due to the flexibility in issuing sponsorships and visas, the private staff can easily transfer from one workplace to another.
Saif zone business benefits
- Full foreign ownership
- Exception for corporate and personal tax .
- Can get license instantly.
- Efficient and timely solutions to consumer issues are addressed.
Licenses available in SAIF zone
- Commercial License: Storage, Consolidation, Distribution, Export, Import, Warehousing of items come under this license particularly. The maximum number of product lines is three.
- General Trading: It is obtained under a commercial license where a large number of products are allowed.
Local authorities can only restrict or else all the services are allowed.
This license includes processing, manufacturing, Importing of raw materials, packaging assembling, and exporting refined products.
Some of the business facilities available are temporary and pre-defined warehouse, land lease offices, Industrial park, etc. Apart from these, Sharjah Airport International Free Zone also works on labor requirement for the companies.
With the headquarters in SAIF Zone, professional services are available for more than 600 companies where officials guide organizations.
Types of licences and their package
SAIF office package: There are 5 Visas available with a total cost of AED 23,160.
Furnished office: It covers 21 sqm with parking provisions and other utilities. The number of Visas available is 6 with a total cost of AED 36,160.
SAIF desk package: It is a Minimum Package. Visa availability is 3.
|Type of fee||General Trading||Service Standard License|
|Saif Plus (annual rate)||7700||7700|
|Maintenance fee, insurance, internet listing and signboard etc||3,450||3,450|
|Government Innovation Fee||10||10|
To be noted:
- The fee doesn’t include visa and PO box charges.
- PO Box charges approximately AED 1000 per year.
Visa and Immigration charges
|Description||Normal fee (in AED)||(Normal)Working days||Urgent fee (in AED)||(Urgent) Working days|
|E-channel registration and refundable deposit||7135||–||–||–|
|Immigration pre-approval and company immigration card fee||1920||–||–||–|
|Investor visa for 3 years||3840||6 to 8||4040||3 to 4|
|Emirates ID for 3 years||370||–||–||–|
|Visa stamping||NIL||6 to 8||510||3 to 4|
Terminating a company in SAIF zone
- Firstly, the closing company has to submit the board resolution letter.
- Then you must submit the original documents like Tenancy certificate, incorporation certificates, investment agreement, trade license, memorandum of association.
- If the client loses any of the original documents they can collect a lost record certificate from police station.
- This lost record certificate can be submitted in SAIF zone, where a clearance process will be started by the SAIF zone.
- In the meantime, No Objection Certificate is collected from Etisalat, Port, and Customs. Auditor Certificate and should be submitted for clearance indicating no accountability.
- All the visas associated with the company will be canceled.
- Now the winding up company is subjected to clearance process which takes 15 to 20 days. After the clearance process, the closing company will receive balance payment.
Winding up a company in SAIF Zone
- Board resolution letter and closing request letter: These letters have to be signed by the directors of the closing company. If the director owns a foreign company the board resolution letter has to be authenticated by UAE consulate from their native country.
- Clearance fee details:
|Type of fee||Fee(in AED)|
|If three-month notice is not provided by the organization, it includes late clearance fee||5000|
|Public notice fee||500|
|Only if applicable: Immigration card cancel fee||510|
|Only if applicable: If visa cancellation is in the country||510|
|Only if applicable: If visa cancellation is outside the country||1,295|
3. Clearance certificates are required from different departments. These departments include visa department, Etisalat, SAIF zone facilities management and customs.
4. Auditor clearance certificate is required for stating the clearance status.
5. Settling the payments with the finance/accounts department
6. Firm’s keys have to be handed to SAIF zone authorities
7. Original documents include share certificate, trade license, memorandum of association, investment service agreement, incorporation certificate etc
8. Refund request letter: This letter is required if there is any credit lease/ balance deposit.
Maybe interested: Steps to set up a business in Dubai
World’s most prominent business in the Middle East have Sharjah Airport International Free Zone as their support. With the added advantage of corporate, personal, and competitive elements, businesses can sustain easily. Also with complete overseas ownership, with full reimbursement of capital and profits, with simple and free transfer of funds, it is convenient to start or end business in this free zone.