Dubai and Abu Dhabi are most prominent places in UAE for foreign investors and visitors. Most of the foreign entrepreneurs and investors seek business and residing opportunities in these two emirates (especially Dubai) whenever they want to start a venture in UAE. These two emirates also provide important incentives for foreign investors. But one thing that makes these two areas difficult to accommodate is their expensive lifestyle. These two cities are among the world’s most expensive cities which make it difficult for small and medium entrepreneurs to setup their business here.
But there is not much to worry if you are a small or medium businessman who wants to take advantage of the facilities available in UAE. There is another place in UAE that will provide almost same types of advantages at quite cheaper rates. The emirate of Sharjah is the third most favored place for foreign entrepreneurs and investors in UAE.
It is mostly crowded by small investors due to its cost-effectiveness as compared to Dubai and Abu Dhabi. According to latest report, the suitability of Sharjah for SMEs (small and medium entrepreneurs) will increase in coming months and years due to few important steps taken by the government of Sharjah recently.
According to senior government officials, Sharjah is comparatively very cost-effective place for startups and SMEs. In future, the emirate is ready to focus on growth of traditional sectors including tourism, education, healthcare, transport etc. These officials are confident that Sharjah has an advantage of being a cost effective emirate while these businesses related to small and medium sectors can provide maximum advantage to the emirate. Sharjah is expecting to get maximum investments from these markets.
The government of Sharjah is also very cooperative towards entrepreneurs and investors. It supports private sectors by forming its policies according to the opinions of private entrepreneurs. Authorities in Sharjah are trying their best to promote Sharjsh as a lucrative place for SMEs in different countries of Asia, Americas and Europe.
The efforts of government are providing results. It is evident from the fact that Sharjah’s GDP (gross domestic product) has increased from AED 88.5 billion in 2016 to AED 92.7 billion in 2017. Now Sharjah contributes 7% in total GDP of UAE. Due to better management of cost as related to other emirates, Sharjah provides long term investment opportunities along with long term returns to businesses.
All these points are clearly indicating that Sharjah has its own importance in UAE and it is an ideal location especially for small and medium foreign entrepreneurs. You can setup your business in Sharjsh in both mainland and several free zones. Advantages and procedure in both these areas are different. For complete information and practical assistance regarding business setup in Sharjah, you can contact Riz & Mona Consultancy via our WhatsApp # 971-56-9971225 or email address [email protected]