Branch of a Foreign Company
Setting Up A Foreign Branch Office in Sharjah
Sharjah stands out as an advanced emirate characterized by its favorable business environment, cost-effective real estate options, and supportive legal framework. With business activities accounting for a significant 45% of the country’s Gross Domestic Product (GDP), Sharjah has attracted numerous companies that have either established their operations from the ground up or expanded their presence in the region.
Considering these factors, setting up a foreign branch office in Sharjah presents a highly lucrative opportunity for businesses seeking to tap into the emirate’s thriving economy and leverage its strategic position within the UAE.
What is a foreign branch office?
A foreign branch office in Sharjah refers to a registered company that maintains its main office in another country while establishing an extended office within the UAE. This setup allows businesses to expand their operations and presence in Sharjah, leveraging the advantages of both their home country and the vibrant business environment in the UAE.
The purpose of establishing a foreign branch office in Sharjah is to access new markets, benefit from favorable business conditions, and enhance the global reach. In the UAE, a branch office of a foreign company can enjoy 100% foreign ownership.
Documentations Required for Branch of Foreign Company
- Memorandum of Association;
- Certificate of Incorporation (or equivalent);
- Certificate of Good Legal Standing (which attests to the parent company’s legal existence in the county of registration);
- A board resolution authorizing the opening of a branch or RO, naming a general manager, and granting the general manager the power of attorney.
- Audited accounts of the parent company for the last two years (if necessary) This will attest that the corporation accepts liability for the obligations of the office when it is created in the UAE.
- A declaration outlining the primary operations and pursuits of the business;
- A copy of the general manager’s passport and curriculum vitae;
- A professional or bank reference letter from the general manager.
When it comes to setting up a branch office in a foreign land, the process can be complex and demanding. However, Corpin Consultants is here to alleviate the burden by providing comprehensive assistance throughout every step. Our experienced team will take care of all the necessary paperwork, documentation, and government interactions on your behalf. With our in-depth knowledge of company formation in Sharjah, we are well-positioned to help your business establish a robust presence in this vibrant economy.
Have specific inquiries regarding our services, feel free to reach out to us at +971 55 843 2911 or fill the adjacent form for a free consultation. Our team will be more than happy to help you with your business needs.
