SRTIP Free Zone
What is the SRTIP Free Zone?
Sharjah Research Technology and Innovation Park (SRTIP) is a free zone in Sharjah. It was established in 2016, and since then, it has become the top choice among investors and entrepreneurs seeking to launch their businesses in the UAE.
Why Set Up Your Business in the SRTIP Free Zone?
There are many reasons why to set up your business in the SRTIP Free Zone, including:
- Strategic Location: Situated near Sharjah University City and major transportation links, offering access to talent and a growing market.
- Innovation Hub: Access cutting-edge labs, R&D facilities, and funding opportunities for your projects.
- Cost-Effective: Affordable business licenses, flexible office spaces, and no minimum share capital.
- Tax-Friendly: 0% corporate income tax, personal income tax, and import/export duties within the zone (subject to UAE general tax of 0% for income up to AED 375,000 and 9% above).
- Business Flexibility: A wide range of tech and research activities are allowed under one license, including renewable energy, AI, and digitalization.
Features of the SRTIP Free Zone Business Set-Up
- Company formation in 5-10 business days.
- Easy to open a bank account.
- Minimal paperwork.
- 100% foreign ownership.
- UAE investor visa.
- 0% income tax & withholding tax.
What are the Facilities in the SRTIP Free Zone?
There are many facilities in this free zone, including:
Maktabi Co-working space
Investors can get a designated place to bring their laptops and start working. This co-working space is attractive with a designated desk, meeting rooms, shared workspace, and three visa quotas per desk.
Start-Up Office
The start-up office space is fully furnished with 16 square meters each. It has a private working area, desks, meeting rooms, and six visas per office. It is an ideal option for start-up businesses in the SRTIP Free Zone.
SME Office
Investors can set up 20 to 27 sqm office spaces. These office spaces are fully furnished with a private working area, desks, meeting rooms, and eight visas per office.
Ecosystem Office
Investors can start their company in the SRTIP Free Zone, which has 50 to 80 sqm of furnished office space. These office spaces have meeting rooms, ten visas per office, and a private working area.
Innovation Office
The innovation office targets investors who wish to lease the HQ open area. It has several benefits, such as a workspace based on client needs, visa quota as per client needs, meeting rooms, receptionist, and more.
Hi-Tech Office
This business setup is optimal for start-ups in less than three years. The business owners get unlimited access to the innovation lounge, professional networking events, international markets, and more.
How to Set Up a Business in the SRTIP Free Zone?
To set up a business in the SRTIP free zone, follow these steps:
Business Activity and Structure Selection
Choose what kind of business you want to do. This decision affects how your business works legally. Also, pick the right type of business structure.
Trade Name Reservation
Find a unique name for your company. Make sure it doesn’t have rude words or confusing names. It should show what your business does. Once you decide on a name, ask for approval.
License Application
With the lease contract approved and other documentation prepared, apply for the business license. This license permits you to do your chosen business activity within SRTIP.
Approval of Lease Contract
To work, you’ll need to rent an office or warehouse inside SRTIP. Once you sign the lease contract, submit it to the officials to make sure your premises meet the standards.
License Issuance
Once you finish all the procedures and paperwork and pay the fee, SRTIP Free Zone will immediately give you your business license.
Resident Visa and Emirates ID Card
You can apply for resident and worker ID cards and visas. Once these are issued, your firm is officially recognized, and you can start your business operations in the free zone.
And now, you have learned everything you need to know about the SRTIP Free Zone. For more information, you can contact AHG Chartered Accountants, the best chartered accountants in Egypt.