Apart from Dubai, Sharjah is one of the most important industrial growing sectors in the UAE. Due to the growing importance of this region, a new free zone has been developed in Sharjah too. Established in the year 2016, the area is known as the Sharjah Research, Technology, and Innovation Park (SRTIP).
SRTIP free zone is a welcoming area. It has attracted the attention of investors from all around the world. This premium zone is rich in innovation expo systems. Ever since its establishment, SRTIP has been building grounds for research and development.
The strategic location of the region has also played an important role in meeting the world-class facilities and business licenses. Furthermore, investors looking for an affordable business setup package can always rely on the SRTIP free zone.
As the leading business setup consultant in UAE, Business Link UAE can assist you in the process of company formation. We will help you establish the features and facilities that will make the business setup easy for you.
The Free Zone Masterplan
The location has always been one of the most crucial things to consider for company formation in the UAE. Similar to the other free zones, the SRTIP has a strategic location. It is situated between the University City Road and Sharjah Airport Road. This strategic location further helps to facilitate better transportation networks and global logistics. The location is situated at a distance of twenty minutes from the Dubai International Airport and five minutes from the Sharjah International Airport.
The continuous developments around Al Jada, Al Mamsha have also proven to be beneficial for the SRTIP. The free zone is continuously flourishing and hailed to be the third-largest in the UAE. Sharjah is a growing industrial power that is popular for its wide availability of workforces.
Why is the free zone being set up in Sharjah?
The free zone setting in SRTIP will contribute significantly to the business ecosystem. However, the main motives of setting the business in the free zone include the following:
- Better innovative ecosystem
The learning-focused environment will help to promote better infrastructure and services that are necessary for success.
- Better employment opportunities
The free zones in SRTIP will play an important role in the generation of employment opportunities. This will further lead to positive socio-economic development.
- Investment for the future
Investing in the SRTIP free zone is an equivalent investment for the future. The public sector is constantly growing and paving the way for socio-economic development with a sustainable revenue system.
What are the facilities offered by the Sharjah Research Technology and Innovation Park free zone?
Setting up a business in the SRTIP free zone can prove to be beneficial. The buildings are spread around an area of 60,000 square feet that is constantly contributing to the growth.
Free zones are popular for the opportunities that are offered to investors. Comparatively, there are several facilities offered by the free zone that contribute towards meeting the business standards.
Some of the common features and facilities offered by the SRTIP free zone include the following:
A co-working space design for all the investors. They are provided with a designated space where they can work together. Furthermore, they have different features such as meeting rooms, workspace, and three visa quotas.
The SME office locates in the headquarters. As a result, the new investors can get a fully-furnished space with around four to six desks within a private working area, eight visas, and meeting rooms.
Another office package is the ecosystem office that is a fully furnishes space on a land of 50-80 sqm. These types of offices have meeting rooms and private working areas.
The laboratories are available in SRTIP to suit the different educational and industrial elements. Furthermore, in the free zones, you will also be eligible for development and research work.
A considerable trading space is available for the food and beverages industry. The industries here get the benefit of entertainment and shopping.
New investors who do not want to purchase a plot can always opt for the rental option. The rental land is available for the construction of labs, research, and development unit, schools, workplaces, and testing units.
Many businesses can get the benefit of dual licensing when setting up a business in SRTIP. This will provide the benefit of conducting business easily in mainland and free zones too.
The Park’s authority has allowed the development of several innovation centers. The innovation park is home to halls, meeting rooms, gathering areas, and various workplaces.
Why should you set up a business in the Sharjah Research Technology and Innovation Park (SRTIP) free zone?
The SRTIP free zone is bringing several opportunities for innovators. The new business holders can avail of different packages. They can start their business at affordable prices. Therefore, the benefits of setting up a business in the SRTIP free zone include the following
- No export and import tariff.
- Complete exemption from personal income tax.
- 100% foreign ownership.
- Affordable leasing space.
- Faster establishment of businesses.
What are the main areas of research?
There are special packages for Ph.D. holders, researchers, and specialists. This provides them an unlimited option for innovation lounge and ensures faster development of business. The main areas of research in SRTIP free zone include the following
- Environmental technology
- Water management
- Smart manufacturing
- Renewable energy
- Logistics and Transport.
How to set up your business in the Sharjah Research Technology and Innovation Park (SRTIP) free zone?
If you’re a foreign investor looking forward to investing in the SRTIP free zone, you will need to consider the basics. The easy steps for setting up a business in the SRTIP include the following:
- Submit all the business documents to the respective authorities.
- Register the business and get a trade license.
- Pay the given charges to the legal authorities.
How will Business Link UAE help you?
Starting a new business in a new land can be exciting as well as very scary. If you’re new to SRTIP, there are chances that you may not know everything about this place. However, we at Business Link UAE have been helping investors establish their businesses. Whether you need help with documents or land, we can assist you in the entire process. Get in touch with us and we will assist you in establishing your business. Call Now
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