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10 Quick Tips for Setting Up Business in Sharjah

By SiliconIndia   |   Tuesday, 23 February 2016, 06:39 Hrs
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Getting started with a new business in Sharjah is not at all easy. From licensing to launching, it requires a bundle of work to accomplish. If you are setting up new business in Sharjah, this article will provide tips and tricks to set up your business faster. If you need to find companies already working in Sharjah, Trade in Sharjah is a good website. A services company ELK Consulting was set-up in less than two weeks.



The recent figures from The World Bank claim that it takes an average of 14 days to complete the procedure to start a legally operating business.



Following are the most crucial steps in launching a new venture:



Pick Your Business:



Decide whether you are going to setup a product or service based business. Choose the services or products the venture will provide.



Take Legal Advice:



The different legal structure is available for different individuals and they should understand this fact before formally establishing their business. Basically the legal structure is decided by the investors based on the residential status and tax implications.



Location:



For the growth of your business you need to be present in the heart of the city. So the location can be a deciding factor for the success of your business.



Business licence Application:



The application for business licence are the template through which the applicant tells the authority what their objectives are and what are they planning to achieve by establishing the business. Department of economic development, ministry of labour, the immigration development, or free-zone authorities need to clear the documents. Manufacturing companies and many more need to submit the business plan.



Legal Document:



Legal documents need to be submitted in English and Arabic. Some documents are required to be notarized. Passport copies must be submitted to the licensing authorities.



Open a bank account:



Once an application is approved a bank account is opened with money deposited and it takes one day to three months in getting all the relevant paper work done.



Obtain the licence:



Once the approval is given for licence, the authorities will ask for payment. And after the successful payment a trade licence is issued by the licencing authorities.



Apply for Employee Visa:



You need employees from all over the world for a successful run and for that you need to apply visa for the respective countries you want your employees are from.



Soft Launch:



A soft launch is required before the final launch. It can be called as a test run where you test your services or products and iron out the problems.



Formal Launch:



This is the final run of your dream. The company is up and running.



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