Sharjah Research, Technology, and Innovation Park (SRTIP) Free Zone Company Registration

Sharjah Research, Technology, and Innovation Park (SRTIP) is a key centre for technology and innovation in the UAE, established in 2016. Strategically located along Sharjah Airport Road and University City Road, SRTIP features an innovative ecosystem that supports a large talent sector, making it the fastest-growing innovation park in the region. It provides advanced support and services for start-ups, technology companies, and research & development activities. The park also offers dual licensing options, allowing businesses to operate within the free zone and in the local market. New ideas and technologies thrive in this environment, making it ideal for anyone looking to innovate and expand in science and technology.

At Filings.ae, we specialize in assisting you with setting up your business in the SRTIP Freezone, providing expert guidance and support throughout the process.

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SRTIP - Sharjah Research, Technology, and Innovation Park

The Sharjah Research, Technology, and Innovation Park (SRTIP) is a dynamic hub designed to foster innovation, research, and development, established in 2016. Sharjah RTI Park is at the heart of major developments like Al Mamsha, Al Jada, and Al Zahia. It is an ideal location for startups and tech companies looking for support and opportunities to collaborate with government, industry, and academia. Sharjah RTI Park aims to attract businesses that want to expand in the MENA region, specifically focusing on Renewable, Water management, Environmental, Technology, Digitization, Mobility & Smart Cities, & Life Sciences. Some popular business activities in the SRTIP Free zone include Foodstuff & Beverages Trading, Software Trading, Creative Agency, and Beauty & Personal Care Products Trading.

For businesses and investors, this free zone presents boundless opportunities to thrive. Its focus on startups and innovation-driven companies, coupled with partnerships with giants like Nokia, SAP, HP, and Intel, highlights its commitment to supporting the tech and innovation sectors. Moreover, the presence of numerous government entities underscores its significance as a key player in the region's economic and technological development.

Benefits of SRTIP Freezone Company Setup

Setting up a company in the Sharjah Research, Technology, and Innovation Park (SRTIP) offers many benefits, making it an attractive location for entrepreneurs and businesses from around the globe.

• Diverse Business Activities: SRTIP provides a broad selection of over 1500 business activities, catering to various industries and specialties.
• 100% Foreign Ownership: Businesses in this free zone can enjoy 100% foreign ownership, allowing international investors full control over their companies without needing a local partner.
• No Requirement for Paid-up Share Capital: The free zone does not mandate a minimum paid-up share capital, making it more accessible for startups and small businesses.
• Cost-effective Business Setup: It offers competitive and affordable pricing for business setups, reducing the financial barriers to entry and allowing businesses to allocate more resources towards growth and development.
• Inclusive Lease Agreements: All business setup packages include lease agreements, which provide businesses with the physical space they need to operate within the free zone.
• Versatile Licensing Options: Each business license allows for up to five activities, including trading, consultancy, and services. This flexibility enables businesses to diversify their operations under a single license.
• Discounts on Multi-year Licenses: Businesses planning for the long term can benefit from discounts on licenses spanning multiple years, reducing the overall cost of operation.
• No NOC Requirement: The process is streamlined with no No Objection Certificate (NOC) required from the current employer for UAE residents.
• Strategic Location: Sharjah RTI Park boasts a prestigious location in Dubai, providing businesses with a strategic base in one of the world's most dynamic and business-friendly cities.
• Shareholder Flexibility: Companies can have up to five shareholders, offering flexibility in business ownership and investment opportunities.
• Networking Opportunities: Membership in the Sharjah RTI Park Free Zone community provides an invitation to networking events, facilitating connections with other businesses, industry leaders, and potential partners within the ecosystem.

Facilities Available in Sharjah RTI Park (SRTIP)

Sharjah RTI Park (SRTIP) offers a range of tailored facilities to support entrepreneurs and businesses, fostering growth, collaboration, and innovation.

Hi-Tech Office

Ideal for startups in operation for less than three years, the hi-tech office provides unlimited access to the innovation lounge, professional networking events, and opportunities in international markets, enhancing growth potential.

Women in Innovation Hi-Tech Office

Designed specifically for women entrepreneurs, this subsidized package facilitates business establishment in the SRTIP free zone. It includes exclusive private areas, quick setup, unlimited access to the innovation lounge, and networking opportunities, empowering women in business.

Start-Up Office

Spanning 16 square meters, the fully furnished start-up office is perfect for new businesses. Each unit includes a private working area, desks, and meeting rooms, accommodating six visa quotas per office.

Maktabi Co-Working Space

Offering a designated area for investors to work with their laptops, the Maktabi co-working space features individual desks, meeting rooms, and shared workspaces, along with three visa quotas per desk.

SME Office

Investors can select from fully furnished office spaces ranging from 20 to 27 square meters for small and medium-sized enterprises. Each office includes private working areas, desks, meeting rooms, and eight visa quotas per office.

Ecosystem Office

Providing 50 to 80 square meters of furnished office space, the ecosystem office is designed for new companies. This facility includes well-appointed offices, meeting rooms, and private work areas and accommodates ten visa quotas per office.

Innovation Office

The innovation office caters to investors looking to lease open headquarters space, offering flexible workspaces, tailored visa quotas, meeting rooms, and reception services.

Type of Business license in Sharjah RTI Park Freezone

In the Sharjah Research, Technology and Innovation Park (SRTIP) Freezone, various business licenses are offered to cater to the diverse needs of companies operating in different sectors.

• Commercial Trading License: This license suits businesses buying and selling goods. Companies with this license can import, export, distribute, and store items specified in the license.
• General Trading License: Similar to the Commercial Trading License but broader in scope, the General Trading License allows for the trade of a wider range of products, making it ideal for businesses that deal with multiple types of goods. This license provides greater flexibility regarding the variety of products one can trade.
• Services License: This license is tailored for businesses that provide services rather than goods. It covers various services in various industries, including IT, consulting, marketing, and more. Businesses with a Services License can operate within the service sector specified in their license agreement.
• E-Commerce License: Designed for businesses that operate online, the E-Commerce License allows for the buying and selling goods and services over the internet. This license is essential for companies entering the digital market and conducting business electronically.
• Consultancy License: This license is for individuals or enterprises that offer expert advice in a professional field. Consultancy businesses in various sectors, such as finance, environmental consultancy, logistics, and more, can operate under this license, provided their activities align with their area of expertise.

Each license serves a specific purpose and is designed to meet the unique requirements of businesses operating within the SRTIP Free Zone.

Popular Segments of Company Licenses Available in SRTIP Free Zone

Sharjah Research, Technology, and Innovation Park is at the forefront of innovation, focusing on six crucial research areas to position Sharjah as a leader in developing a knowledge-based economy.

• Water Management: Sharjah RTI Park is advancing technologies in water purification and desalination, water recycling and wastewater treatment, water monitoring and conservation, artificial rainmaking, and aquaculture.
• Renewable Energy: The park explores thermal energy technologies, waste-to-energy conversion, smart grids and energy storage, and biofuel production technologies.
• Environmental Technology: Efforts include waste containment and remediation technologies, green building construction, and sustainable equipment, addressing the urgent need for environmental sustainability and protection.
• Digitalization:  Sharjah Research, Technology, and Innovation Park delves into big data, the Internet of Things (IoT), quantum computing, and smart city applications and solutions. These technologies enable smarter, more efficient urban living and governance.
• Smart Manufacturing: This area encompasses robotics and AI, fast prototyping and digital fabrication, new building and construction materials, production and factory planning, and contemporary Arabic architecture.
• Transport and Logistics: The park focuses on high-performance and advanced materials, sensor technology, mobility and autonomous vehicles, marine and air freight technology, and urban planning systems.

Concentrating on these six areas, SRTIP promotes research and development and contributes to solving global challenges through innovation and technology.

Business Spaces at SRTIP Free Zone

SRTIP offers a versatile range of business spaces designed to accommodate the diverse needs of companies, from startups to established enterprises.

• Flexi Desks: This option is ideal for freelancers, entrepreneurs, and startups that require a flexible working space without needing a permanent office.
• Serviced Executive Workplace: This option provides fully-equipped offices ready for immediate occupation.
• Shared Workstation: Shared workstations are designed for individuals or small teams that prefer a collaborative environment.
• Shell and Core Entity: For larger businesses with specific design and layout requirements, the shell and core option provides an unfurnished space for complete customization.
• Land Plots for Lease: Sharjah RTI Park also offers land plots for lease, allowing companies to develop custom-built facilities.

SRTIP Freezone Company Setup Procedure

Setting up a business in the Sharjah Research, Technology, and Innovation Park Freezone involves submitting the necessary documents, registering a business, obtaining a trade license based on the business activity, paying the required fee, and getting approval from relevant authorities. Here's a detailed step-by-step procedure for the company setup process:

Step 1: Choose a Business Activity

The first step is to decide on the nature of your business. SRTIP Freezone offers a wide range of options, with over 1500 business activities. This diversity allows for a broad spectrum of businesses, from technology and innovation to research and development. It's important to select an activity that not only aligns with your business goals but also complies with the regulations of the Sharjah RTI Park Freezone.

Step 2: Business Name Approval

Once you've decided on your business activity, the next step is to choose a suitable name for your company. The chosen name should be unique to avoid conflicts with existing trademarks or copyrights. It's essential to adhere to the UAE's naming conventions, which include avoiding names that contain offensive language, references to religious or political groups, and names of well-known organizations without permission.

Step 3: Document Submission

After choosing a name, you must prepare and submit your company formation application. This typically includes providing passport copies of the shareholders and any other required documentation. The application process is streamlined to facilitate easy setup, but attention to detail is crucial to ensure all documents meet the specified requirements.

Step 4: Get Your License

The next step involves paying the necessary fees for company registration, licensing, and any other approvals required for your specific business activity. Once your application has been reviewed and approved, the SRTIP Freezone authority will issue you a business license. This license is crucial as it permits you to conduct your business activities within the Freezone.

Step 5: Visa Process

With your business license in hand, you can now apply for visas. This could include Investor Visas for the business owners and Employee Visas for any staff you plan to hire. The  Sharjah Research, Technology, and Innovation Park Freezone authority provides support throughout this process, ensuring that you and your team can legally work in the UAE.

Step 6: Open Bank Account

The final step in setting up your business is to open a corporate bank account. The Filings.ae experts can help you open a Business Bank account in SRTIP. This account will be crucial for managing your business finances, from day-to-day transactions to future growth planning.

The team at Filings.ae provides expert guidance and support to facilitate a smooth and efficient business setup process.

Streamline SRTIP Free Zone Company Setup with Filings.ae

Filings.ae assists in setting up companies in the SRTIP Free Zone by providing a range of services that simplify the process. We offer assistance with the initial documents preparation, obtaining the necessary licenses, and navigating the regulations specific to the Sharjah RTI Park Free Zone. This can include help choosing the right business license type based on your business activities. Additionally, Filings.ae could provide guidance on selecting the most suitable workspace option.

By leveraging our expertise and understanding of the local business environment, Filings.ae aims to streamline the setup process, reduce bureaucratic hurdles, and help businesses get started more quickly and efficiently in the SRTIP Free Zone.