Sharjah Communication Technologies Free Zone
Sharjah Communication Technologies Authority, Sharjah
Description
COMTECH is a free zone in Kalba, Sharjah, established to enhance the emirate's position in communication technologies, attract investments, and support technological innovation.
| Emirate | Sharjah |
| Contact Info |
Address: Kalba, Sharjah, UAE
|
| Year Established | 2024 |
| License Types | Communication Technologies License, Data Center License, AI Development License |
| License Cost | License costs are expected to be competitive to attract global investments. |
| Formation Cost | Formation costs will vary depending on the business activity and facilities required. |
| Minimum Capital Requirement | No specific minimum share capital requirement has been announced. |
| Allowed Business Activities | Communication Technologies, Data Center Operations, Artificial Intelligence, Software Development, IT Services |
| Company Legal Structures | Free Zone Establishment (FZE), Free Zone Company (FZC), Branch of a Foreign Company |
| Restricted Activities | Activities conflicting with UAE laws and Islamic morals |
| Investor Visa Cost | Visa costs are expected to be in line with other free zones in the UAE. |
| Employee Visa Cost | Employee visa costs will depend on the company's requirements and the number of visas. |
| Processing Time (Days) | Processing times are expected to be efficient to encourage swift business setup. |
| Physical Office Required | Yes |
| Office Space Options | Offices, Data Centers, Co-working Spaces |
| Office Space Cost | Office space costs will vary based on the type and size of the facility chosen. |
| Virtual Office Available | Yes |
| Bank Account Assistance | Yes |
| Bank Account Cost | Assistance with bank account opening will be provided; costs vary by bank and account type. |
| Partner Banks | Emirates NBD, Mashreq Bank, RAKBANK |
| Governing Laws | Subject to UAE federal laws and regulations. |
| VAT Registration Required | Yes |
| Corporate Tax Applicable | No |
| Annual Audit Required | Yes |
| Renewal Fees | Renewal fees will depend on the license type and business activities. |
| Business Restrictions | Prohibited from engaging in activities outside the scope of licensed operations. |
| Ownership Structure | 100% foreign ownership allowed. |
| Import/Export Restrictions | No No restrictions; businesses benefit from tax exemptions on imports and exports. |
| Benefits | 50-year renewable tax exemption, Strategic location in Kalba, Modern infrastructure and facilities, Access to regional and global markets, Support for technological innovation and AI development |
| Drawbacks | Specific focus on communication technologies may limit suitability for some business types. |
| Specific Compliance Requirements | Compliance with UAE labor laws, Adherence to COMTECH regulations and guidelines |
