Free Zones offers affordable services for setting up a business in the UAE. Business setup in SRTIP Sharjah free zone is a great choice for young entrepreneurs. Established in 2016, SRTIP Sharjah Free Zone offers a strategic location. 100% foreign ownership and other residency options make SRTIP a startup-supporting free zone.
In this article, let’s get more information about the steps to start a business in SRTIP and the benefits of it.
How to set up a business in SRTIP Free Zone?
SRTI Park in Sharjah focuses on research and development. It is located in Sharjah University City. Let’s discuss the steps to start your business in the Sharjah Research, Technology, and Innovation Park.
1. Choose your business activity
Select business activity according to the business you will conduct. SRTIP offers 1500+ business activities.
2. Trade name registration
You must choose a unique trade name and you need to get it registered from the relevant authorities.
3. Submit documents
Prepare the documents including passport copies, application form, and white background photographs, and other additional documents. Submit these to the SRTIP Free Zone Authority for approval.
4. Obtain your business license
Get the approvals and pay the fees for your business license in the UAE and obtain it after 4-5 working days.
5. Obtain your visa
After you receive a business license, you can apply for a residence visa in the UAE. You can obtain a two-year residence visa in the UAE.
6. Open a bank account
Open your business bank account in the UAE. Emirates Business Setup is here to help you in this regard.
Pic: Sharjah Grand Mosque in United Arab Emirates
Benefits of SRTIP Free Zone
The benefits of setting up a business in SRTIP free zone are countless. It is because of the ease of doing business as a starter. Let’s discuss the prominent benefits below.
1. Low-cost business setup
The first and foremost benefit of the SRTIP Free Zone is it offers low-cost business setup in the UAE. SRTIP license costs start from as low as approximately AED 6,000. It is best for those who are looking for a startup with very little investment.
It is always better to contact business consultants in Sharjah to get expertise on the UAE residence visa costs and trade license costs.
2. Strategic location
The other benefit of the SRTIP Sharjah free zone is its strategic location. It is situated near the Sharjah Airport Road, and you can reach Sharjah International Airport within five minutes. The location is efficient for transportation and logistics purposes.
3. Six designated research areas
SRTIP as the name suggests, Sharjah Research Technology, and Innovation Park. It is focused on six designated research areas such as renewable energy, environmental technology, digitalization, transport & logistics, architecture, and water management.
If a foreigner wants to set up a business in these designated areas, then it is the best choice.
4. Business setup services
SRTIP offers all kinds of business setup services in the UAE. The process of company formation in SRTIP is streamlined and straight-forward. The services include business licensing, company registration, and other business-related services.
5. Empowering women entrepreneurs
SRTIP empowers women by giving packages to women entrepreneurs with low-cost investments. You have the option to use the innovation lounge. It’s a special place for young women entrepreneurs to get connected with international clients.
6. Dual licensing options
Business setup in the UAE free zones offers dual licensing options. It allows business to expand their business activities on the mainland.
Conclusion
Sharjah Research, Technology, and Innovation Park is a free zone in Sharjah. It focuses on promoting research and development, entrepreneurship, and SMEs. The park provides cost-effective business setup packages, office spaces, laboratories, meeting rooms, and co-working facilities.
SRTIP is the perfect place to set up your business in a cost-effective manner. If you are interested in starting your company in Dubai and don’t know where to get started. Contact us.
Emirates Business Setup is proven most trusted business consultancy in Dubai. We offer free consultations for business setups in the United Arab Emirates.
Frequently Asked Questions
1. What is SRTIP?
Sharjah Research and Technology Innovation Park is a free zone focused on promoting research, development, and innovation in various sectors, providing a conducive environment for businesses to thrive.
2. What are the benefits of a free zone like SRTIP?
Operating in a free zone such as SRTIP offers advantages like tax exemptions, 100% foreign ownership, and streamlined processes for setting up a business.
3. Can startups benefit from SRTIP’s resources?
Yes, SRTIP provides support for startups through its accelerator programs, innovation lounges, and access to laboratory facilities, enabling entrepreneurs to bring their ideas to fruition.
5. Is SRTIP a cost-effective option for company setup?
Establishing your company in SRTIP can be a cost-effective choice due to its strategic location, access to advanced infrastructure, and the support provided to businesses to thrive in a competitive market.
