For medical entrepreneurs who are looking to establish themselves in the field, the SHAMS Business Center located at Sharjah is most suited. Whether you are a seasoned entrepreneur or a newcomer, this bustling free zone provides different facilities and resources that might help you achieve success. To allow your company to thrive, registering it must be done correctly from the very beginning. In this article, we will explain how to successfully and promptly register your business. With such guidance available to you, you can move forward planning on how to transform your idea into the next big thing in the field of medicine.
Many people view the SHAMS Business Center as just a location to register their business, but its advantages go far beyond that. Operating out of SHAMS will enable you to connect with a network of professionals with similar interests, gain competitive advantage in operational costs, and all this while putting in place the building blocks for growth. Before you jump into the registration steps, one must first understand the criteria and the paperwork that needs to be in order. Each of these actions will strengthen your company’s legal and market position, therefore each of these must be done carefully.
Reasons for Signing Up with SHAMS
The reasons for starting your healthcare business in SHAMS are many and should give you a distinct advantage. Tax Incentives: SHAMS grants total exemption from taxation on both corporate and personal income which is a great advantage for anyone looking to start out in the medical sector. 100% Foreign Ownership: Foreign investors are strained in that they do not have to have a local partner as they can possess fully their business ventures. Access to Networking: The center organizes events during which professionals come together, exchange views, or discuss and work on joint ventures.
Eligibility Criteria for Registration
It is important to impress upon yourself that you are qualified to apply for a business registration with the SHAMSauthority before going ahead with the application. Should possess well defined goals in the medical field such as the setting up of clinics or developing health care technology. Adherence to the laws of the land with respect to the practice of medicine and the observance of necessary safety measures is very important. Possession of requisite resources to cover the money needed for the setup and working capital.
Required Documentation
When preparing your paperwork for registering the business, it is advisable that you assemble all the necessary pieces of documents that are relevant and up to date. The following documents should be prepared as per the companies’ requirement:
- A filled out application form.
- An executive summary for the medical services that are intended to be offered from the registered business.
- Passports and visa copies of each shareholder.
- A NOC Certificate, if available.
A Step-by-Step Registration Procedure
The registration procedure may be quite complex for some. It’s around addressing these complexities that many feel daunted. It’s easier when it’s divided into bits; it lets one focus on what needs to be accomplished at each level.
Chances of success increase when the following sequence of significant actions is accomplished within the timeline provided:
| Step | Action Required | Key Notes |
|---|---|---|
| Preliminary Approval | Submission of business application along with requisite documentation | Submitting to a suitable presiding officer for individuals after a nominal processing fee is paid |
| Lease Agreement | Signing of an office or facility lease | Assure being adopted with the SHAMS regulations |
| License Issuance | Once documents are submitted, apply for a business license | Submit plus the document and fees to be collected |
| Open Corporate Bank Account | Bulk of business account | Apply for documentation for business |
| Visa Processing | Residency visas are sought for Oneself and employees that pertain to the challenging task of medical enterprise. |
Moving forward, these steps are critical; moderation and microscopic detail are touches and elements that will smoothen the entire registration process. Also doing so will shorten the wait period in the approving process allowing time to be maximized in doing what is truly important for your medical business endeavor.
Conclusion
Starting one’s medical business within the SHAMS Business Center is the beginning of set of opportunities with potential for growth and development. By following the systematic procedure as provided in this manual, you will able to complete the registration in a smooth and assured manner. The nurturing aspect of SHAMS is likely to shape the direction of the business and propel it toward greater entrepreneurial achievements. Make use of available resources and focus on your goals. With effective strategies in place, getting registered and successful in a competitive environment will be an achievable goal for you.
Frequently Asked Questions
What type of businesses can be registered in SHAMS?
SHAMS allows the registration of different business profiles such as medical clinics, pharmacies, and health tech companies.
What is the minimum capital that is required to establish a business at SHAMS?
Indeed, SHAMS has procedures that require a minimum stated amount which varies depending on the business activity; it is advisable to talk with the authority for clarification.
Can I make an application for numerous licenses in one business setup?
Yes, multiple licenses applying under one business structure is possible as long as they are under the same activity type.
Is there professional help to take care of the registration requirements?
Yes, there are a number of consultancy businesses that do provide for business registration assistance in SHAMS.
In SHAMS how long does it take to set up business?
It usually takes a couple of days – weeks, depending on your documents and the entity type of business.