Friday, 21 October 2011

Business setup in Hamriyah Free Zone


Hamriyah Free Zone (HFZ) was established by an Emiri decree issued in November 12, 1995. HFZ is fast becoming one of the cornerstones of the United Arab Emirates industrial development. As the Next Generation Free Zone, Hamriyah Free Zone is ensuring that its management is flexible and dynamic besides being an investor oriented free zone.

Hamriyah Free Zone is challenged to provide competitive incentives and unique opportunities to establish businesses in a tax free environment with full company ownership, exemptions from all commercial levies and repatriation of capital and profits. The free zone manages an area of approximately 22 million square meters of prime industrial and commercial land and a 14 meter deep water port which includes scope for expansion.

Location

Hamriyah Free Zone is located in the emirate of Sharjah. Sharjah is the only one of seven emirates with ports on the Arabian Gulf’s west and east coasts with direct access to the Indian Ocean, and an International Airport. Sharjah offers extensive transportation links to the Gulf states, Indian subcontinent and the emerging markets in Asian and African nations. These services are made possible by the "Sharjah link".

Business Incentives

  • 100% Tax free environment
  • 100% Company ownership
  • 100% Exemption from all commercial levies
  • 100% Repatriation of capital and profits


Additional Advantages

  • Land lease for 25 years renewed for similar period.
  • Availability of a 14 meter deep water port & a 7 meter deep inner harbor adjacent to it.
  • Pre-built warehouses and office units for lease.
  • Exclusively designed and furnished Executive office suites.
  • International Business Center with conferencing, internet and telecommunication facilities.
  • On-site accommodation for investor's personnel including recreation center and health club.
  • Highly developed infrastructure, telecommunications links and an access to three sea ports
  • Seaports on both coasts in addition to Sharjah International Airport.
  • Abundant and inexpensive energy
  • Liberty for personnel recruitment and economical workforce.
  • Affordable cost of living.

Through the Emiri Decree establishing the Hamriyah Free Zone, investors are guaranteed security of investment and full repatriation of profits and capital.

Activities Allowed by the Free Zone
Almost any activity is permitted by HFZ as long as the activity is environmentally friendly and in accordance with local rules. Though it is preferred, companies do not have to add value to their products. Investors can ship goods in and out of HFZ without necessarily adding any value at all.

Facilities for lease (Units & Prices)
Pre-built warehouses, factories and offices are available for investors to take advantage of, and for those who require tailor-made facilities there are industrial plots available for lease. Staff accommodation is also available onsite with a choice of senior or junior suites.

Land for lease - Tailor made development
The strategic plan for future development of HFZ’s prime property envisions the building of a range of industrial plots ranging in size from 5,000 sq. m. and upwards in multiples of 5,000 sq. m. These plots can be developed by investors to suit their exact requirements, and up to 60% of the land that is leased can be developed.

Land Leasing Terms:
Although the minimum lease term is five years, investors do have the option of leasing their plot of land for a maximum of 25 years, and then later renewing the same lease for a further 25 years.
Lease rates are normally fixed for the first 5 years with a rent review at the end of this period.

Warehouses, Factories and Office Units
HFZ’s customer-oriented approach allows customers the freedom to develop their factories, office infrastructure, warehouses, and other buildings in a custom fit manner. However, for those investors who require ready-made, immediately available warehousing space, HFZ provides the investor with a choice of pre-built buildings in sizes of 614 m2, 416 m2 and 275 m2.

Vithul Murali

SME consultant

Mobile: +971 55 922 0669


SME
A Division of Paralegal Services International

Office 2A, Ground Floor, Building No 6,

Gold & Diamond Park,

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Email: vithul@adamadvisors.com

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