Accounting in Sharjah Media City (SHAMS)
08

Jan 2020

Sharjah is the third largest emirate in the United Arab Emirates and is regarded as the trading hub. Trading plays a significant role in the contribution to the Gross Domestic Product of the emirate as more than 45% of the GDP comes from selling and related activities. This emirate also holds many Free Zones which help increase the Gross Domestic Product of the Emirate. One of the essential Free Zone is the Sharjah Media City Free Zone, better known as the Shams Free Zone.

Sharjah Media City Free Zone

The Sharjah Media City Free Zone was launched in the year 2017 as a part of the cluster of media cities in the area such as the Fujairah Creative City, Dubai Media City and the TwoFour54 established in Abu Dhabi. Sharjah Media City was created with the vision of being a hub for media and other creativity related businesses in the region. The main aim was to provide a conducive business environment so that the companies that are set up in the Free Zone do not face any problem.

With a strategic location, this Free Zone will provide you with an opportunity to conduct your business not only on a national level but will also assist in taking your business to the global level. With only 15 minutes from the Dubai International Airport and 5 minutes away from Sharjah Airport, this Free Zone is a very lucrative place to set up your business.

 The primary mission of the Sharjah Media City Free Zone is to make creative entrepreneurship readily available to all budding start-ups and also to the established companies. It offers various services and amenities and also possesses state of the art infrastructure, which helps a company to solidify its position in the market by providing better service to its clients. 

The benefit of setting up a Company in Sharjah Media City

The principal aim of establishing this Free Zone was to provide a platform to the media related companies and provide them with all the necessary amenities that a growing company will ask for. The primary benefits of setting up a company in Sharjah Media City are:

Less Cost of Setting up a Company

There is an option of setting up a company in the Free Zone at a very less price, starting from only AED 11,500.

·Wide range of Business Activities

There are many different business activities that a business can pursue. Having a variety of activities available in a single Free Zone is beneficial for both the companies and the Free zone as there can be a diverse group of companies in the area.

No deposit required

In order to set up a company, there is no requirement of depositing a sum of money beforehand.

Quick and Easy Business Setup

The Sharjah Media City Free zone is a newly formed Free Zone and has a digitalized company setup process. The process of getting a licence and the required permits are also accessible as it acts as a one-stop-shop for companies.

·Strategic Location

The location of the Free Zone plays a significant role in attracting companies from all over the world. The Sharjah Media City Free Zone is only 15 minutes away from the Dubai International Airport and only 5 minutes away from Sharjah airport. This makes the transportation of goods and human resources a straightforward process.

No need for physical presence

A company does not need to have the presence of a physical office in the Free Zone for registering itself.

Easy availability of Visa

There is no restriction on the age of a person in order to get an investor visa.

Setting up a business in the Sharjah Media City Free Zone is a very profitable and lucrative option but only setting up a company is not the primary goal. The main purpose of a businessman is to grow the business and make it as profitable as it can be. To achieve this goal, you need to avail various other services such as Accounting and Bookkeeping Services.

Need for Accounting and Bookkeeping Services in Sharjah Media City Free Zone

After establishing a company, as time passes the size and scope of the business will increase. The company will expand more and delve into various products or service. This will require the management to keep track of the multiple transactions of the company. The analysis of these transactions will not only result in the complete understanding of the present financial condition of the company but will also help us to figure out a solution for the problem being faced.

Even a small mistake in the Bookkeeping and Accounting process can result in a disaster. Thus it is always recommended that you should avail the services of a financial firm which will handle all the bookkeeping and accounting needs of the company which will allow the management to focus on the growth of the company. If you are looking for such a financial firm, check out the services offered by JAXA Chartered Accountants. For more details, Contact Us. We will be happy to help you.