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JIACC Mission to Sharjah and Abu Dhabi

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JIACC Vice Presidents, H.E. Ahmed Al Midfa and Pietro Paolo Rampino, participated in the 2018 Sharjah Investment Forum and in the SIAL Conferences in Abu Dhabi.

The mission was marked by success as it was the opportunity to strengthen the beneficial cooperation launched during the Second Italian Business Forumheld in Rome the 17 October 2018. It also confirmed, once again, our deep commitment to foster Italian and Arab relations.

Finally, the mission was an ideal occasion to discuss a series of Roadshows in Italy, organized by JIACC, to present the UAE economy and its potential investment opportunities. The Roadshows will be held in 10 chosen destinations/cities to promote Italy-UAE relations.  The 2019 Roadshow will be an important event to prepare Italian companies for Expo 2020.

Sharjah FDI Forum !

The Sharjah FDI Forum is one of the world-leading economic and finance forums and hosts a number of high profile speakers, experts and CEOs from the private and public sector across the world. It represents today one of Sharjah's key drivers for economic development, as it expands the horizons of its bilateral relations around the world.

 The Forum was the occasion for JIACC to strenghten relations with several institutions. H.E. Sultan bin Muhammad Al-Qasimi, ruler of Sharjah, participated in the event along with several other prominent institutional figures. H.E. Sultan Bin Said al Mansoori was also present. A big thank to Marwan Al Serkal, CEO of Shurooq, for inviting us in this important event.

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Mr. Rampino met with H.E. Juma Al Kait, UAE Undersecretary to Foreign Trade. They discussed the results of the Forum and the future Roadshows to be organized in Italy. Both agreed on the importance of organizing regular meetings with SMEs in order to foster trade and investments. JIACC Vice President also had the honour to meet with and Mohamed Juma Al Musharrak, CEO of Sharjah FDI Office (Invest in Sharjah), one of the organizers of the event, and with Saif Al Midfa, CEO of Sharjah Exhbition Center.

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In Abu Dhabi, Mr. Rampino met with a number of high-profile officials and representatives of the business community. JIACC VP was received by Saed Al Awadi, CEO of Dubai Export Development Corporation and Massimo Falcioni, CEO of Etihad Credit Insurance and Secretary General of the Italian Business Council of Dubai and Northern Emirates. Mr. Falcioni also participated in the Second Italian Arab Business Forum, where he addressed together with SACE CEO the topic of financing activities in the UAE.

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During the SIAL Conferences, held in the Abu Dhabi National Exhibition Centre, JIACC Vice President had the opportunity to discuss agribusiness relations with H.E. Mohamed Bin Obaid Al-Mazrouei, Chairman of the Arab Authority for Agricultural Investment and Development. One of the most well-known sectors of the “Made in Italy”, the Food Industry plays a fundamental role in Italian culture and economy, and can increase its presence in Italian-Arab commerce.

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Mr. Rampino also met with Mr. Abdulaziz Al Mikhlafi, Chiarman of the German Arab Chamber of Commerce, with whom he discussed the importance of enhancing the relations between joint European and Arab Chambers. This point was lately discussed also with Eng. Mouddar Khouja, Secretary General of the Austro-Arab Chamber of Commerce. Both have agreed to further foster relations that could prove beneficial for all. New partnerships will be studied in the coming months.

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Sharjah: a Crossroad of Opportunities

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The Emirate of Sharjah with an area of 2,590 square kilometers, which is equivalent to 3.3% of the country's total area excluding the islands, is the 3° largest Emirate of the United Arab Emirates and the cultural capital of the Arab World as declared by the UNESCO in 1998. It is located between Dubai and Ras Al Khaima interrupted by a part of Ajman. Sharjah is 10 Km away from Dubai and 76 Km away from Abu Dhabi the capital of the United Arab Emirates.

Sharjah is known for its strength as the industrial backbone of the U.A.E... 40% of the total number of industries in the U.A.E. is based in Sharjah. The majority of these industries are petrochemicals, textiles, leather, food and basic non-metal industries. Sharjah accounts for over a third of the country’s industrial activity.

Sharjah contains the main administrative and commercial centers along with cultural and traditional projects. Links with the outside world are provided by Sharjah International Airport, Port Khalid, Port Khorfakkan and Hamriyah Free Zone Port.

In 2017, foreign direct investment (FDI) flow into the emirate more than doubled to AED 5.97 billion, while cumulative international investments rose to AED 36 billion. This resulted in Sharjah’s GDP growing by 5% and contributed to a surge in employment, with more than 5,000 new jobs created.

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Free Zones in Sharjah

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Sharjah Airport International Free Zone (SAIF Zone)

Sharjah Airport International Free Zone (SAIF Zone) provides some of the most enticing business incentives in the region, including speed of service and simplicity of process. Warehouses, storage areas, container parking, bunkers and labour housing are all available at the lowest costs and highest quality. SAIF Zone offers an unlimited workforce to support your business along with sponsorship and visas for in-house staff to make the transition to a new workplace as smooth as possible. Some of the world’s most prestigious companies operating in the Middle East have SAIF Zone’s as their base, with the added personal, corporate and competitive advantage of 100% foreign ownership, 100% repatriation of capital and profits and 100% free transfer of funds.

Business facilities in SAIF Zone:

• Offices

• Industrial Park

• Land on Lease

• Prebuilt Warehouse

• Temporary Warehouse

• SAIF Zone Labor Accommodation

Business licenses types:

• Trade License

• Commercial License: import, export, distribution, consolidation, storage or warehousing of items specific in the license

• General Trading: general trading license can be obtained under a commercial license which allows a large number of products

• Service license: service license allows the holder to carry out service specified in the license only. All type of services are allowed unless otherwise restricted by the Federal or local authorities

• Industrial License: import of raw materials, manufacturing, processing, assembling, packaging and exporting the finished product

Business benefits within SAIF Zone:

The benefits of operating from SAIF Zone are tremendous. It allows 100% foreign ownership exemption for personal and corporate income tax with 25-year contract remedies for final rent. Licenses are issued on the same day.

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Hamriyah Free Zone Authority

Hamriyah Free Zone (HFZ) was established by an Emiri decree issued in November 12, 1995. HFZ is fast becoming one of the cornerstones of the United Arab Emirates industrial development. As the Next Generation Free Zone, Hamriyah Free Zone is ensuring that its management is flexible and dynamic besides being an investor oriented free zone.

Hamriyah Free Zone Authority has taken creation in 1995, fast becoming one of the cornerstones of the United Arab Emirates industrial development. Hamriyah Free Zone is ensuring that its management is flexible and dynamic besides being an investor-oriented free zone, providing competitive incentives and unique opportunities to establish a business in a tax free environment, full company ownership, exemptions from all commercial levies and repatriation of capital and profits. The free zone manages an area of approximately twenty two million square meters of prime industrial and commercial land and a deep-water port, which is constantly expanding.

Business facilities in Hamriyah Free Zone Authority:

• Access to 14 meter deep water port and 7 meter deep inner harbor;

• Land lease for 25 years renewed for similar period;

• Pre-built warehouses, factories and office units for lease;

• Executive office suites in the International Business Center for lease;

• On-site accommodation for investors’ personnel including recreation center

• Transportation via road, 3 sea ports and Sharjah International airport;

• Highly developed infrastructure and telecommunications links;

• Abundant and inexpensive energy

• Liberty for personnel recruitment and economical workforce;

• Affordable cost of living.

Business licenses types:

• Industrial License: This license will allow the holder to import raw materials for the purpose of manufacturing, processing and/or assembly of specified products. The finished products may be exported outside the UAE. If the finished products are sold in the UAE market then the License holder will need to do this through a local distributor or a local agent.

• Commercial License: This license will allow the holder to import, export, sell, distribute and store items specified on the license. If the finished products are sold in the UAE market then the License holder will need to do this through a local distributor or a local agent.

• Service License: This license allows the holder to carry out the services which are specified on the license within the Hamriyah Free Zone only.

Business benefits within Hamryiah Free zones:

• 100% Foreign company ownership is allowed

• 100% Import and Export tax exemption

• 100% Exemption from all commercial levies

• 100% Repatriation of capital and profits allowed

• 25 year leases available, renewable for a further 25 years

• No corporate profits tax No personal income tax

• Strategic location to access global markets

• Access to the UAE and GCC markets

• Attractive investment incentives

• Abundant and inexpensive energy

• Developed infrastructure

• Land for lease for investor development

• Purpose built office accommodation, warehousing and factory units

• Three seaports and international airport

• Favorable low cost living conditions

• Low labor costs

Incorporating a new company

Establishing a branch. Business setup as branch of a local company or of an international company no capital is required to be deposited with the UAE bank.

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Sharjah Media City (Shams)

Shams offers smart innovative services for aspiring startups and SMEs, as well as established companies or corporations. Launched as a world-class hub for modern services for those who wish to setup their business within specialized facilities in the media and creative industry, Shams strived as a dynamic initiative, a forward-thinking and holistic community with the aim of making creative entrepreneurship accessible to all.

Shams’ mission is to make creative entrepreneurship accessible to all aspiring startups, SMEs and established companies striving to grow their business both locally and globally. Shams is considered as an innovative a dynamic initiative that makes a strong connection with the talented individuals it attracts.

Business facilities in Shams:

• Company setup options starting from Dhs. 11,500.

• Physical presence in the UAE not required to incorporate your new company.

• No need of NOC to start your own company.

• No paid-up Share capital or Annual Audit.

• 100% foreign ownership.

• 100% repatriation of capital and profits.

• 100% free transfer of funds.

• 0% import and export duties.

• % Corporate tax for 50 years.

• All documentation issued in 2 days.

• Inexpensive workforce and easy recruitment procedures.

• Vast activities covering Services, trading and Industrial licenses with multiple visas.

Business licenses types:

• Service Licence

• Trading License

• Industrial Licence: production, re-production, transformation and manufacturing of goods.

Incorporating a new company:

Shams LLC

• Independent operating entity

• Entitled to obtain a license

• Entitled to sponsor employee(s)

• Entitled to open a business bank account

A Shams limited liability company (LLC) is an independent entity whereby the company structure separates the owners and shareholders from the company. Hence the liabilities of the company, whether arising in contract or otherwise, are the company’s liabilities and not the personal liabilities of the shareholders. Equally the company’s assets are the company’s assets and not the personal assets of the shareholders.

Shams branch

• Entitled to obtain a license

• Entitled to sponsor employee(s)

• Entitled to open a business bank account

A Shams branch is an entity belonging to an existing parent company. All profits, benefits, gains and other returns of the branch shall be profits, benefits, gains and other returns of the parent company. Equally, all costs, expenses, debts and other liabilities of the branch are costs, expenses, debts and other liabilities of the parent company.

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Investment Institutions

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Sharjah Investment and Development Authority

The Sharjah Investment and Development Authority, also known as Shurooq, was established by the Emiri Decree no.2 of 2009 that was issued by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah. Shurooq performs the following tasks:

• Implement Infrastructure projects

• Remove the obstacles facing the investment activity

• Establish a comprehensive information center and prepare a media plan to encourage all types of investments upon coordination with relevant entities to issue necessary media material.

• Grant permits for investment projects

• Prepare the infrastructure of investment project and update and upgrade existing one, and establish special investment areas.

• Propose and prepare investment legislations in the Emirate

• Invest in investment projects and seek to conclude partnership with similar authorities or institutions within and outside the Emirate.

• Create Investment opportunities in the Emirate and develop a national cadre.

• Cooperate with the government departments, institutions and authorities and members of the community to develop and promote the Emirate as an investment destination in the state to enhance the reputation and position of the Emirate at the local and international levels.

• Forming and incorporating the companies in all types thereof, participating in the same, participating in the capital and works thereof and in the contracts thereof whether local or international.

• Managing, operating and developing the projects, facilities, buildings, utilities and facades inside and outside the Emirate. 

 

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Sharjah Foreign Direct Investments Office - Invest in Sharjah

The Sharjah FDI Office - Invest in Sharjah aims to attract foreign investments and promote commercial relations. As the primary investment promotion agency in Sharjah, it is dedicated to the continued transformation and economic diversification of the Emirate and is committed to guide foreign investors to opportunities and potential investments in the Emirate. The Sharjah FDI Office also provides efficient advice and guidance to investors to help individuals and organizations to realize their investment in the Emirate.

 

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Sharjah Chamber of Commerce & Industry

Sharjah Chamber of Commerce & Industry was established by an Emiri decree issued in 1970 by His Highness the Ruler of Sharjah in order to effectively and vitally participate in the organization of economic life and the prosperity of its trade, industry and professions sectors on all levels and in cooperation with the concerned establishments and bodies and local departments. Since 1980, the services and activities of the Chamber have covered all cities in Sharjah. Accordingly, the Chamber has four branches in the cities of Khorfakkan, Kalba, Al Dhaid, central area and Dibbs Al Hisn in addition to offices and services of the Chamber in the model industrial area and the head office of Sharjah Economic Development Department and Sharjah free zones. There are also many other affiliate establishments and organizations working under the Chamber’s umbrella.

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News from Sharjah

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Italy-UAE: new partnership between the Italian Trade Agency and Sharjah FDI Office

Italy-UAE: new partnership between the Italian Trade Agency and Sharjah FDI Office

On October 17 at the Ministry of Economic Development (Rome) the meeting of the Italy-UAE Intergovernmental Bilateral Commission was the occasion to sign an agreement between the Sharjah FDI Office and the ITA - Italian Trade Agency.

Read more.

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Emirati: Sharjah apre il primo one-stop-shop per investitori stranieri

Per aiutare i potenziali investitori stranieri a espandere la crescita internazionale negli EAU, Sharjah, per estensione il terzo più grande degli Emirati, ha annunciato il lancio del Centro servizi per gli investitori, un'iniziativa di supporto alle aziende orientata al digitale.

Read more.

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Emirati: settore industriale traina la crescita

Il Forum sugli IDE (Investimenti Diretti Esteri) del 2017 di Sharjah ha rivelato che il settore industriale ha contribuito di circa 10,9 miliardi di dollari al prodotto nazionale lordo dell'Emirato, cifra che rappresenta il 25% della produzione totale.

Read more.

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