All you need to know about the Hamriyah Free Zone Authority (HFZA)

Introduction:

Hamriyah Free Zone Authority (HFZA) is a free zone located in the city of Sharjah, United Arab Emirates (UAE). It was established by an Emiri decree in November 1995 and is considered the second-largest free-trade zone in the UAE after Jebel Ali Free Zone (JAFZA). The free zone spans 24 square kilometers and features a 14-meter deep port and a 7-meter deep inner harbor, providing direct access to the Indian Ocean.

HFZA offers numerous benefits to investors, including 100% foreign company ownership, 100% import and export tax exemption, 100% exemption from all commercial levies, 100% repatriation of capital and profits, 25-year leases renewable for a further 25 years, no corporate profits tax, no personal income tax, and a strategic location to access global markets. Additionally, the free zone provides access to the UAE and GCC markets, abundant and inexpensive energy, developed infrastructure, land for lease for investor development, purpose-built office accommodation, warehousing and factory units, three seaports, an international airport, favorable low-cost living conditions, and low labor costs.

HFZA offers three types of licenses: Industrial, Commercial and General Trading, and Services. The Industrial License allows the holder to import raw materials for the purpose of manufacturing, processing, and/or assembly of specified products, with the finished products permitted for export outside the UAE. The Commercial and General Trading License permits the holder to import, export, sell, distribute, and store items specified on the license, while the Service License allows the holder to carry out the services specified on the license within the Hamriyah Free Zone.

The free zone boasts modern infrastructure, logistics, investor connectivity, and critical operations support for its investors, thereby encouraging regional and international trade and commerce. HFZA offers investors the opportunity to establish a company in one of six diverse sectors, with tailored solutions to meet their business needs.

Thriving Industries in Hamriyah Free Zone

The Hamriyah Free Zone Authority (HFZA) in the UAE is a thriving business hub, offering top-notch infrastructure and services for various industries. With its strategic location near Hamriyah Port and International Airport, it provides unmatched access to global markets. HFZA supports diverse business activities, hosts over 6,500 businesses from 163 countries, and provides world-class facilities like offices, warehouses, factories, and executive suites.

Some of the thriving industries in the Hamriyah Free Zone include:

Hamriyah Free Zone Authority offers warehouse rental packages catering to various business needs, emphasizing flexibility and convenience. The zone’s commitment to innovation, stability, and prosperity, coupled with its strategic location and comprehensive services, make it an ideal choice for businesses seeking global market success.

Navigating the Path to Establishing Your Business in Hamriyah Free Zone

To set up a industrial corporation within the Hamriyah Free Zone Authority (HFZA), you want to observe a specific process. Here are the stairs involved:

1. Conduct thorough studies in the marketplace, industry, and commercial enterprise possibilities in the HFZA. Determine the agency’s criminal structure and form of enterprise pastime.
2. Submit an application to the HFZA with the desired files, along with a finished software shape, passport copies and CVs of shareholders and directors, a marketing strategy, financial institution reference letter, Memorandum and Articles of Association (MOA/AOA), hire agreement for workplace or warehouse space, and different specific documents as asked by HFZA.
3. Once the application is submitted, HFZA will evaluation the files and behavior due diligence. Upon approval, the applicant will get hold of a Letter of Approval (LOA) from HFZA. Pay the vital registration and licensing charges as in step with the charge structure supplied by means of HFZA.
4. Sign the hire settlement for office or warehouse space in the HFZA. Obtain essential approvals for the workplace or warehouse format and in shape-out. Set up the bodily infrastructure and provide the workplace consistent with the guidelines and guidelines supplied by way of HFZA.

The HFZA Offers Three Different Kinds of Business Licenses

Documents required:

The documents you will have to submit along with your application form for HFZA registration are listed below:

• Passport copies of shareholders
• Hfza visa copies
• Copies of certificate of incorporation
• Copies of bank statements
• Copy of your business plan
• Copy of NOC
• Education qualification certificates
• Passport size photographs of shareholders

Advantages of the Hamriyah free zone:

Hamriyah is the most preferred free zone by global investors due to the following reasons:

• Its strategic location. The HFZA, located at Sharjah, provides direct links to three continents, namely –  Asia, Europe, and Africa.
• The HFZA provides a 100% exemption from all import, export, and commercial taxes.
• Getting an HFZA visa using the Hfza visa portal and a business license for Hfza online is extremely easy.
• The Hamriyah Free Zone Authority provides 25-year leases for warehouses and office spaces. You can also extend the period by renewing after 25 years.
• The HFZA provides a 100% exemption from paying personal income tax and corporate profit tax.
• You can easily register yourself under the HFZA online.
• The HFZA offers world-class warehouses and furnished office spaces.
• The HFZA also permits flexible ownership rights.

Why KGRN?

KGRN is a renowned online legal service provider in the UAE. Our range of services includes registering your business in HFZA, procuring an HFZA visa, and providing legal assistance through our Approved Auditors HFZA.

 Here are a few reasons why KGRN makes a perfect choice:

• Firstly, our services are always affordable. You can choose a suitable plan from the range of options available.
• Secondly, our team of employees is committed to bringing customer satisfaction.
• Thirdly, we value your time. We complete your job on time.
• Furthermore, all your private data is encrypted during transactions. Therefore, there is no chance of privacy breaches.
• Our team of experienced chartered accountants and lawyers also stay updated to prevent legal issues.
• Lastly, we will always respond to your emails and phone calls.

Frequently asked questions:

1. How do I apply for a HFZA visa?

You can apply for a Hfza visa using the HFZA visa portal. All you need to do is download and fill the registration form and upload your HFZA license and registration form.

2. How many days will it take to get my HFZA license?

It usually takes around 3-4 days to complete your registration process and get your license, provided you submitted all your documents accurately.

3. How much does a HFZA license cost?

It depends on the type of license you need. The cost of the license is as follows:

Commercial license	7500
Service license	15000
Trading license	15000

4. What are some of the facilities available in HFZA?

• World-class warehouses
• Pre-built and well-furnished offices
• Direct road, air, and sea links to three continents
• More than 26 million sq.km. vast area

 

For more info, please contact,

Gopu Rama Naidu, CPA FCA

Email: [email protected]

Phone: +971 504 520648 | +971 455 70204

 

Related Resources:
uae free zone company

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